The daily morning journal and courier., 1906-08-16
STOCK MARKET FEATURES
BULLS WHOOP UP PRICES OF
 U. P. AND s. F.

New High Records for Those Shares
 Bond Market More Active-Calumet
 and Hecla's Big Dividend--s. P.'s
 Heavy Loss by FIoOdc-.Texas' Big
 Yield of Wheat--Rock Island Doing
 Weli-The Days Gossip.
 Yesterday the bulls took hold of the market again with renewed vigor and sent Union Pacific and Southern Pacific up to record prices.
 Prices were higher in all departments of the London market, and our list took it's cue at the start from the for eign attitude. But the main incentive to the trading lay in the heavy buying at rising quotations of a few chosen is- sues. Union Pacific in the course of the afternoon passed it's high level of last January and Southern Pacific went above it's high record made during the famous rise of 1902, The reasoin for these advances, of course, as is now generally known, is the belief that an increase in the Union Pacific dividend and an initial payment on Southern Pa ciffc, presumably at the rate of 4 per cent will be authorized very soon, and gossip had it that meetings for these purposes will be held within the next few days, perhaps to-day. The enor- nous trading in these two stocks over- slladowed the entire market yesterday.
 Some of the larger traders, who were outspokenly bearish on Monday, bought certain stocks freely yesterday, notably the Hartman Pacific. The Gates crowd also was said to have bought on balances.
 The bond market was more active and strong. The principal feature in- cluded Japanese issues, tAtchison issues, Burlington joint 4s, Colorado Industrial 1sts, Interborough- Metropolitan 1-2s, Pennsylvania Railroad convertibles, United States Steel sinking fund 5s, and Wabash Pittsburg Terminal sec- onds.
 A quarterly dividend of s20 per share was declared yesterday by the direc- tors of the Calumet an Hecla Mining company.
 The strength of Southern Pacific was all the more notable in view of the fact that a telegram from Galveston says that the second flood in west Tex. as has piled up damage to the Southern Pacific property estimated at $2,OO0,0 900. Twenty miles of track between Lang try and Samuels has been washed away and forty culverts, stone piers and bridges have been destroyed. Tn many places the water has cut ditches over twenty feet deep; and ten miles of heavy rails have disappeared as if swallowed by the earth
 Kansas through it's state agricultural department, claims a wheat crop of 100, ,000,OO bushels, the largest on record. Corn is expected to show up to 100000 900.
 A dispatch from Nashville, Tenn, says that 1t is said there on good au- thority that the Louisville and Nash 'ville Railroad company will build to Chicago from Louisville, through In- dianapolis,
 As between Atchison and Missouri Pacific, even though Atchison be put on a 5 per cent. dividend basis, there are old time market operators who would sooner gamble on Missouri Pacific for 120."
 Texas yield of winter wheat is more than 91, 100000 bushels, and that it's yield of spring wheat will bring the total up to more than 1O0OO0,0OO bushels. Its corn crop will also amount to 200,0O0,0Oo bushels.
 Texas and Pacific sold at 39 S-S in January last, and at fl in March of last
 Continued on Eighth Page.)