The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-11-26
STOCK MARKET FEATURES
PRICES TAKE DROP OWING TO
BANK STATEMENT.
"HOldIng Their Horses" So as Not to
Aggravate the Money Stringency-A
Trading Market in Prospect.

Trading Market In Prospect,
The drop in prices in Saturdays mar
ket was due to the unfavorable bank
statement.
The leaders continue to think it best
to restrain excited speculation until
out Of the woods" on the money ques-
ton.
1t Is the belief that the money will
be held on an even keel until the Jan
uary investment rush is on. Then, or
perhaps late In December, prices will be
advanced.
Nearly all the active shares, barring
a few like Missouri, Kansas & Texas,
recorded price declines. The Hills and
Harriman's and st. Paul and North,
western went down perceptibly In
Session, the movement in Allouez, Cen
tennial & Osceola rendered the list
strong, and Boston gave a more bullish
account of its trading than did New
York.
The action of Great Northern, prefer
red, since the announcement Of the
plan Of participation in the ore contract
rights, and the course of the quotation
for the rights when issued in the curb
market have had a bad effect on spec
ulative sentiment. The evidence that
speculation had been overdone in that
case arouses uneasiness over the out
come of other speculative factors, which
have been followed with confidence on
very vague information.
A London dispatch says: There is in
mia ba1f
merits will ultimately cause a further
great rise in many Canadian stocks, and
In some of your own Pacific stocks; vet,
meanwhile, distrust in your people
financial methods seems effectually to
ALLEVIATE sympathy. Still both the Eng
fish and continental publics are taking
a slightly increased interest in Amer
leans.
OF course congress will be a restrain
ing factor in Wall street bullish oper-
attons, but not seriously So
The national holiday this week will
tend to make the week quiet one in
stocks.
Three important matters, among 9th
ers, are likely to be agitated-emer-
gency or elastic currency, steamship
subsidy and Cuban perplexity, while it
is rather expected that the president
will recommend something looking for
closer relations between the federal
government and the corporations. 1t
is not expected, however that very
much will be accomplished by congress
at the short session. Besides these
hhings, various corporation deals await
announcement one more in Great
Northern, something in Northern Pa
cifc and something more in Union Pa
ciflc, not to mention minor propositions.
Dividend increases are not looked for,
now that a campaign of wage increase
has been begun This campaign is like
ly to be comprehensive and far-reach-
ing, SO far-reaching that nobody is wise
enough to fix a limit or measure the
consequence.
Corey, Milliken & Co., of Boston, say:
The elections are all out of the way,
and a continuance of stable political
conditions are assured Everywhere
throughout the country business is at
flood tide, with forecasts in every line
Of even better things to come in the
new year Industrial activity is coin
ing new wealth at an unprecedented
rate, this very intensity of effort be-
ing what limits the money supply. Once
this tension, is eased, the upward i'm
petus in security prices be very marked.
The buyer of stocks at current levels
should feel very cheerful on balancing
his account on facing 1907
Henry Clews say: Our railroads are
now under obligations for extensive
improvements, and with the costs of
operating steadily increasing, these new
expenses will inevitably make a seri-
Gus inroad upon net earnings. At the
same time they are likely to be con-
fronted with demands for lower freight
charges, since shippers thus far have
Mad no share in railroad prosperity, in
lpite of their having been its chief con-
tributor. Railroad managers have prob
lens before them, the acuteness of
1hich will be quickly felt when reac-
On begins Conditions in the stock
Narket are favorable for moderate fiuc-
Aations in either direction Whatever
De natural conditions may be, it should
lot be forgotten that stocks are still
trgely concentrated in very strong
lands,