The daily morning journal and courier., 1906-01-17
STOCK MARKET FEATURES
STRONG AT THE CLOSING, DULL
 DULL ALL DAY.

Tendency tO Realize Again Sen--LOwer Prices Early in the Day--COpper's Coming Dividend--MEement in the Tractions-Price of Copper Reduced -Rumors of Deals-Gossip in Gen eraI.
 The market acted tired yesterday, and was quite dull all day, but strong at the close.
 A tendency to realize was apparent again.
 The lowest prices were made in the morning.
 The markets flatness was due to the large amount of securities it was nec- essary to absorb.
 The desire of holders of stocks. on which the profits were sufficiently large to warrant liquidation, to take advantage of a large public demand was too immediate and too keen.
 A special meeting of the stockhold- CTS of the Tennessee Coal and Iron company has been called for January 31, to vote on the proposition of in- creasing the company's common stock by an additional $7,000,000 for improved purposes, making the total authorized issue $3O,O00,0O0.
 Steel common touched 45, but there 7-S and A 3-4.
 The Erie management, it is under stood, is very confident of it's ability to reduce operating expenses this year, while gross earnings are expanding.
 Domestic conditions were entirely satisfactory. The heavy currency flow from the interior gives the banks a cash gain of nearly $6,OooOOO. There was an export of $1O0O,OOO gold to Mex ico announced as an offset
 The popular view of the coming Amalgamated Copper dividend, which is expected to be acted oil by the di- Tectors on Thursday, was that it would be at the rate of per cent a year.
 Three low-priced and non-dividend paying Morgan stocks were about as active as any issues yesterday. They were Southern Railway, Erie common and Steel common.
 The street has been filled with points to buy Pennsylvania and Baltimore and Ohio all the week, but these issues have moved very little, though quite firm for two days. A curious feature was the large amounts of Pennsylvania which changed hands within a range of one- half point-many of the lots being ot 1000 shares or more. That there was more or less matching orders seemed clear.
 The movements of the entiIe trac- tion group bore evidence that the pub lie mind is still concerned with possi- bilities of deals and mergers. Metro politan. Traction rose a point. It is proposed to issue the details of the merger with Interborough immediately The new common stock will be under written at SO. This will make Metro politan Traction worth above 1SO Brooklyn Rapid Transit, Long Island and Manhattan Beach were sympathet- tcally strong,
 The simultaneous reduction in the prices of crude copper, lead, and sugar made little impression on yesterday g market. None of the stocks which are directly affected by these trade devel- opments reacted at the time.
 Chicago houses had good many sell ing orders during the morning in the western railroad shares.
 sensa ational rise in Colorado Fuel amounting to more than six points mostly in the last half hour, attracted a good deal of attention in Wall street, but no reason was offered to explain the rise.
 It is confidently believed that some announcement will be made shortly of a deal which will bring the relations of Amalgamated Copper and the Heinze interests into complete har. mony.
 Lawson's manifesto was taken tc mean an attack on the market, proba- bly tomorrow.
 That crude copper should be reduced IA cent a pound for the first tim, in more than six months, after series of remarkable advances, gave some food for thought.