The daily morning journal and courier., 1906-01-16
STOCK MARKET FEATURES
BIG DEALINGS AND HEAVY
 PROFIT TAKING.
Large Public Absorption of Stocks but Profit Taking Checks the Rising Tide Little.


 Tide Little.
 There were big doings in the stock market yesterday and as there was good buying and large absorption of stocks, it was a good market to sell on for those who wanted to bag prof it's There was also some speculative selling on the idea that reaction was due.
 The reactionary tendency was in is- sues that have been used to bolster up the rest of the list at times.
 It was the talk that there ought to be a reaction before another new high level was established and this was re- flected in the opening quotations. But there was a continuation of the buying. The notable gains yesterday were in the low priced non-dividend paying in- dustrials and railroad shares.
 The buying of Steel preferred was of the sort that made the street wonder if there were not new speculative in- terests in 1t. It ran up point within the first hour. Post & Flagg took 15,- 900 shares. This represented local, Pittsburg and Boston buying. Evi- dently the feeling was broadspread that the stock ought to have more of an advance.
 The market acted tired at times but at any recession the stocks that de- clined were gobbled up by eager specu- laters.
 Quite large transactions occurred in the morning session on both sides of the list Wolf Bros. & Co. sold 25,0O0 shares, of which 15,OO0 were Brooklyn Rapid Transit.
 A well known stock exchange mem ber remarked facetiously yesterday: 1T hear so many deals I have not got the time to tell about them. All I can say is that I think you are going to get 100 shares of Shelters for every 100 shares of Grass Twine.''
 Over $t4.00O,000 of the new issue of ssO,00O,0OO 3 1-2 debentures of the New York New Haven & Hartford railroad have already been paid in full, all though subscribers have the option to pay for them in installments. There is 8 speculative possibility that goes with this 5ond issue, which makes the bonds seem a desirable investment to those who have money to place.
 Bankers were inclined to believe that next Saturdays bank statement will not be as rosy as last Saturdays.
 There was good buying of bonds and trading in that department broadened. The outside public was more active also in stocks than in long time.
 The effect on the London market of the liberal victory in the elections was to check the speculative spirit which had been growing since the first of down there. The total sales were 529,00O shares.
 In the late trading, stocks ran up sharply, then reacted as call money rates ran up per cent
 Brooklyn Rapid Transit sold a point higher than in December, when the Berwind interests ran it up in a few weeks over ten points. It opened from 92 to 91 1-2 and sold at 92 3-4. Very heavy selling by Wolf made it react. There was much talk of deal or com bination or closer relations with other traction companies
 The selling of Amalgamated Copper and Union Pacific yesterday was thought to come from banking inter- ests and clioues, which were responsi- ble for their rise.
 American Sugar was very disap- pointing to traders, many of whom had been caught on the rise to above 157 beforethe annual meeting was held All sorts of good things" had been promised by the rumor mongers of Wall street, and speculators bit" Nothing has happened except some Tong faces
 In Philadelphia yesterday Lake Su. perior, which has been moved up tc over twenty in the last week. was talk en in hand by insiders and pushed UT above 23 3-4, trading being all of tht manipulative order. Lehigh Valley was dull, but held fairly we'll small amount of trading being done in It.
 New York. New Haven & Hartford stock sold yesterday in Boston at 2O4 and Parrot mining stock closed at 4I IA.
 Eastern as well as western railroads are proflting by the favorable weather flor moving things.