The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-31
money AND STOCKS
/ RISE TOGET Their
Most Extraordinary Market i1hs
All the History of Wall Sc
Street.
Special to The Journal.

Il
New York, Dec. 3o.-Infuential petsds
market for Christmas week, bur the to
were overruled. AS soon as the Stodha
exchange opened on Tuesday the poo
resumed their operations. The publiW,
came in quite freely, and will be more
IN evidence than ever # the buoyant
tanned for time. 'The public is be;
ing educated to buy stocks,'' remarked
a broker the other day. Gas an illus
tration, one small house in the street
month ago was short of 300 Union
duced to 100 shares. Clients are now
going long of stock for an investment.
which means that they will not soon
attempt to cash in their paper profits.
The question that ,agiitated financial CIR
buoyancy Of the market could continue
in the teeth Of a monetary stringency,
which bids fair to endure well into the
first week Of the new year, unless Tor
eign exchange should fall sufficiently
to permit the importation of gold from
Europe. The Withdrawals. transfers,
adjustments, ETC., incidental to the
the influx of funds from the interior
is inconsequential, put rates to most
extraordinary figures. Still, the pre-
vailing market sentiment remained dis
tinctly bullish, and tho a range of 80
1S5 d for call 0a1G Fl what Ta msy foe
! money, checked the Juror of specula-
tion temporarily, it could not hold down
| prices. '. -=.-
The Anaconda strike is being worked
| for all it is worth by the Amalgamated
! pool, the atmosphere being thick With
predictions Of fancy prices for both
these Standard Oil specialties. If re-
| l. Ill. h. 10
which but three years ago, according to
Butte advices, was a played-out mine,
is now veritable bonanza. The fuc-
| tuations in Anaconda were decidedly
sensational. Lawson screeds are now
read by brokers and SPECTATORS with With
lurid words One broker said: Law
son has been busted for more than six
months, only he hash It the horse sense
to know it, According to the most
reliable information, Lawson is short
about $4,000 shares of Amalgamated
System believe that he is the Dor
rover of stocks which they have handed
out to the shorts.
The backwardness of Steel common
and preferred has been very noticeable
in view of the highly favorable reports
which are received daily regarding the
industry, which, it is said, has. never
been in SO satisfactory condition as
at present. Therefore, the seeming ne
elect of these issues on the part of those
who have been engineering the present
upward movement has excited good
:. deal of comment. It is possible, how
ever, the Steel stocks have been held
in reserve in order to stimulate senti
ment later on, when prices of some Of
the standard rails have been marked
up to such an extent as to make them
, unattractive to the average sPeculator-
! Union Pacific continues to be one Of
the strongest features in the railway
list, and the. stock has more than full
that it would sell at $50 before the close
of the year. -. The favorable character
of the annual report has given rise to
the belief that some sort of an extra dis
tribution will be made. to stockholders
at the directors meeting on Jan. 20,
and talk of per cent, and even 7
per cent, dividend is heard. Unques
tionably the earnings Of the road would
Justify an increase in the dividend rate,
should the management deem such ac-
tion wise. Some observers are of the
opinion that st. Paul and Union Pa
cifc should be closely associated in the
public eye in connection with the great
movement in the latter issue recently.
It is thought that most Of the selling
Of St. Paul since the official announce
} ment that the company had decided to
build to the Pacific coast has been by
the holders who thought they did not
wish to increase their holdings in that
security, and consequently have sold
stock against the rights which they
!. confidently expect to get little later.
John W. Gates, who has returned
? from Texas, says: ct never saw the
country SO prosperous and so full Of
money and the people so ha ppy and with
so much business to attend to-. AS for
s the holding back Of cotton in the south,
!, think it is being done seriously and on
big scale. A friend of mine, who was
interested in knowing the exact situa-
ton, drove with team for about $50
, miles thru Texas and Louisiana, and the
, farmers whom he questioned all said
2 that they were holding back two bales
8 or more for Is cents a pound.'
Stanley Schroff.