The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-02
HILL AND :HARRIMAN
STOCKS LEADING
$50, 100000 New Great North
ern Stock to Be
Issued.
Special to The Journal.

Special to Inc journal.
New York, Dec. 1.-The Hill and
the Hartman stocks now lead the bull
. procession in the stock market. James
j. Hill is hurrying back to New York
from st. Paul. and once more he will
celebrate his visit to this city by an
nouncing big bonus to stockholders
in the Great Northern railroad. The
distribution, which is expected to take
place early next week, will be in the
shape of rights to buy about $50, OOO,:-
900 of new common stock in Great
be worth about $40 for each share of
Great Northern stock now outstand-
ing, and, in fact, they were dealt in
this week at $40 in several Wall street
Offices. There is some mystery as to
the use to which the money received
from the new stock will be put, as 1t
is not enough to swing the Burlington
. ing Of what that deal viii be. There
is also to be meeting of Northern
Pacific directors within short time.
A bonus is expected from that source.
Advance information of these coming
things had much to do in holding the
market steady. The Union Pacific re-
port was a strong influence in favor
of earnings did not make any start
ling showing, the general condition of
the company is so strong that the 10
per cent dividend is fully justified.
The AtchisOn report was also strong
factor. Copper metal continues to hold
firm and has an advancing tendency.
Amalgamated and Anaconda are both
being held down by main force. The
market has the appearance of want
ing to advance, and it needs only to
have the pressure removed to do so.
Best informed traders are buying on
the breaks, and to do this is the ad-
vice given out by those in close touch
with the Standard Oil people. The
Hill and Morgan people are stubbornly
buying and holding their stocks re-
CARELESS of advances or reactions.
:. Other than the Union Pacific report
there remained only an Improvement in
Great Northern ore lands certificates
as a factor in the stock market. The
banks are not disposed to be too ex-
acting in the matter Of accepting the
certificates as collateral, even tho they
are not listed. There has been some
good selling Of both the certificates
and Great Northern, the proceeds be-
Ing invested in Missouri, Kansas &
Texas.
ST.: Paul reflected the improvement
in Union Pacific and the Hill issues,
rising over 3 points. : Like other north
western roads, the st. Paul is expected
to be in the market for funds soon to
finance projected extensions. and con-
sequently further rights are awaited for
shareholders.
The feeling is beginning to manifest
itself in Wall street that James J.
Hill controls the Missouri, Kansas &
Texas railroad, or at least that he will
Go SO, and that this will be shown at
the annual meeting in April next. 1t
is no secret in well-informed circles
that Hill proposes to make sure of a
gulf connection, this far-sighted rail
road magnate having had his eyes fol-
years on the Missouri, Kansas g. Texas
in control of the Kansas city Southern al
the Hill interests bought a substantial
block of Missouri, Kansas & Texas
. stock, which they are said to still hold
With the history of the Burlington in
mind, the earnings of which increased
RAPIDLY, when once the tonnage of the
Great! Northern and Northern Pacific
was diverted to this road, it is argued
that under Hill regime substantial
dividends could, be earned and paic
on Missouri, Kansas & Texas common
Commission house business as &
whole continues unsatisfactory. brokers
being unwilling to urge their customers
to purchase. when compelled to charge
over the legal rate of interest-the
more so since there is a possibility OF
extreme stringency in the money mar
ket next month. The December dis