The daily morning journal and courier., 1906-06-13

St. Paul Alone Held Firm It's Advance
 Other Stocks Closed Weak-Rise in
 July Wheat and Corn Started Selling
 --GOssip.
 Good gains were made in the stand ard investment stocks early in the day vesterday, but on the rise in wheat and corn there was some selling to take profits. St. Paul alone held its rise with firm grip.
 When stocks began to lose ground the trading became dull.
 What looked like planned campaign in the investment issues occurred dur ing the morning. It began with St. Paul, continued into Delaware and Hudson, and went over to such stocks as Pennsylvania, Northwestern, New York Central Great Northern, North ern Pacific and Baltimore and Ohio. The movement was evidently to excite more general speculative interest as some of the stocks manipulated pure had big rise since the low prices-at the time of the Frisco disaster. St. Paul has risen 25 points, Delaware and Hudson 97, Northwest 15 and each of the Hill issues 35 since the earth quake.
 The government crop report was re- ferred to again as bullish factor inas- much as a total yield of over 71O00O,OO0 bushels is basis for much new wealth to the country, but the rise in wheat set the bears at work again.
 It appears evident that the sustain cd advance in St. Paul foreshadows large benefits to shareholders. St. Paul stock is lending at one-half to one per cent. to carry, which indicates quite a short interest.
 The heavy selling of St. Paul yester- day by firm which had been the larg- est buyer on Monday was generally as- sumed to mean that the "move" was nearly over. This firm often executes orders for the Morgan and Hill inter- ests.
 The collateral issues of Delaware and Hudson as D. and H. convertibles and Albany and Susquehanna 1-2s have been greatly helped by the advance in the stock, which is S7 points higher than on May g.
 St. Paul again rose sharply and in a measure was used to steady the re- mainder of the list Northwestern was used as a help, the latter being run up more than three points during the morning, on top of a 3-point rise on Monday. But St, Pauls advance did not help much.
 For the first week in June Denver and Rio Grande increased $67 900, Texas and Pacific $2L670. and St. Louis South western $11,11. Wabash and Missouri Pacific June earnings are also large.
 The Pennsylvania group of stocks have remained quiet for long time with considerable accumulation of short contracts. It was natural that they should be taken up at that time when weather news was not very en- couraging with a view to supporting the market.
 Wall street heard yesterday that a prominent stock exchange firm was heading a movement for a change in the management of the Delaware and Hudson company. This was coincident with an advance of more than two points in Delaware and Hudson stock Not much credence was given to the report.
 Some five months money was negoti- ated at 4 3-A per cent and six months loans were made at 4 S-4@5 per cent The supply of money for seven, eight and nine months was smaller than on Monday, and everything accessible at 5s1-4 per cent. was readily taken up by borrowers. At the close this figure was bid, with very little money in sight under 5 1-2 per cent.