The daily morning journal and courier., 1906-01-06
STOCK MARKET FEATURES
BULLS ON TOP AGAIN---PRICES
 BOOMING.

Buying Back of Stocks Sold the Day
 BefOre-Money Down to por cent.
 at CIOse-ClOsing StrOng-U P's New
 High Record.
 The stock market recovered yester- day from it's alarm over MT. Schiff's speech, and the bulls were on top again.
 The recovery was very pronounced, and the alarmist sentiment with which the market closed Thursday night en- tirely vanished. One factor making for this change was the universal evidence that the money situation has greatly improved, and that it will steadily grow better.
 The highest rate for call money was 10 per cent, and the lowest at which loans were made was per cent The market closed at about the top prices. Near the close call money was 2 per cent.
 Trading became exceedingly violent in the closing half hour of the market, several stocks rising by leaps and bounds to prices above last years high est. Union Pacific was bid up with particular rapidity and indications were ! that capitalists controlling some other stocks were making a concerted attack on the shorts.
 Union Pacific was very strong and ! closed at 15SB. Very positive state ments were made yesterday that the next dividend declaration of the Union Pacific company on its common stock would be at the rate of 2A per cent regular and one-half per cent. or per cent extra. In case one-half extra were declared, 1t was further said, 3 per cent. regular rate would be advised l in July and another one-half extra then. There is very little doubt but that the rate will be raised. The enormous buy 1 ing at the 150 level IS as good guar. antee of it as an official proclamation. Among the specialties Kansas City Southern and Western Maryland were prominent for strength. In connection with the former there is still a great amount of "deal talk.
 Yesterday the market was supported \ by the short interest and the day be- fore by those who were long of stocks,
 There was an almost unanimous feel | ing yesterday that the money market from now on will be on much lower basis. Evidence of this was given by the market itself, which opened at about 10 per cent. and quick" went down to per cent. The renewals were at an average that did not produce any complaint from borrowers.
 The net earnings of the United States | Rubber company for the first nine
 months of the current fiscal year (De- | cember partially estimated) were ap- | proximately $S, ,l62 ,000, without reference to dividends on the Rubber Goods Man ufacturing company stock, except for one quarter upon preferred stock in the company's treasury These net earn ings are in comparison with $Sl4O,HS for the corresponding period of last year.
 | In the copper stocks the recovery that | occurred was almost sensational. Ana
 conda sold ex-dividend of 31h per cent,
 which was equivalent to IA per cent. on the full stock, so that the opening
 showed considerable gain. In Amalga- mated the opening was from 1O5A to | 106A, and then rapid advance to
 about 1O9 The short interest in both
 stocks was in a critical position. and it paid the prices that the holders asked,
 Tn addition, there was probably inside
 buying.
 From the present outlook the Penn
 sylvania railroad will earn on its capi-
 tai stock for the fiscal year ended De-
 cember 91 about 1Oh per cent. Net is
 expected to reach total of $42,500,000,
 while the income from other sources will certainly bring total net up to $47 00O 900. In 1904 total charges were $18,- 500, ,OO0, and last year it Is estimated that
 they were about $15,60O,0O0 Figuring
 on this basis, the company will have | earned directly on its stock sS1, 100000
 as compared with $27,41S0OO in 1904.