The daily morning journal and courier., 1906-02-03
STOCK MARKET FEATURES
BULLTSH TENDENCIES KEPT UP
 AND PRICES ALSO.

/ Nervous Market All Day--Big Trad
 ing in Amalgamated and Other Spec
 ialties-The Coal Shares and the
 Strike Talk-Fhe Strength of U. P.-- Pennsy's Big Earnings--The c. Ms
 Iron Ore Lands.
 Yesterdays market was an active but nervous one with large movements in special shares, Amalgamated, for in- stance,
 There was enormous buying of Amal- gamated, and ten per cent. of the huge capital stock of the company changed hands.
 After the sensational buying by few houses had absorbed 15O,0OO shares of Amalgamated Copper in little over an hours time, the whole market went off with rush under profit taking and a bear drive, It rallied to about the best prices in the afternoon. TAe closing was irregular, with the total sales H. 100000. shares.
 All of the coal shares were more or less affected by the unfavorable news from Indianapolis, indicating that the miners will strike on April 1 unless cer- tain concessions are made. A canvass of leading coal interests yesterday would seem to indicate that the opera tors intend to stand their ground.
 A tbAp.tt is tion which has yearly cost the Rogers Heinze interests $1,OOO,OO0 will soon cease On the basis of the Amalgamat- ed Copper has advanced some 15 points and United Copper even more. What will develop to make these stocks so higher remains to be seen. Lawson came to the front yesterday afternoon with bear talk on United
 Various of the trunk lines, such as the Baltimore and Ohio and Pennsyl- vania are largely affected by labor con- ditions in the bituninous districts An thracite shares were heavy most of the day from fear that similar troubles may arise in Pennsylvania.
 The Pennsylvania road yesterday pre- scented statement of earnings for De- 'cember, which showed a gain of S2, ,O00,- 900 larger than in December, year ago. But Pennsylvania stock Is about where 1t was months ago.
 Union Pacific yesterday afternoon was within two points of the record price after being points under it on Monday. There was very strong buy ing all through the session, and, in spite of the supply at 15S, the advance con- tinued. An increase of.the dividend to per cent. is expected, while it's lns vestments In other roads will swell the surplus.
 For t2le year 1905 Pennsylvania earn ed total gross of $126 76O,OOO, gain of $16, 7e0,0O0, and net $Ss,SG0, ,O00, an in- crease of over s5, 100000.
 One explanation for the strength in Union Pacific yesterday was a report circulated to the effect that syndicate was being formed to take over all of the Great Northern stock held by the Union Pacific interest. According to the ru- nor, an agreement had been reached as to the price on which the stock would be taken over. On June 30 last, the Union Pacific held $18,665OOO of Great Northern stock. It was alleged yester- day that no announcement would be made of the Great Northern ore land deal until the Union Pacific holdings of Great Northern stock had been &C., quired.
 The corner conditions that have ob- tained in Tennessee Coal for some time were more evident yesterday in the 8 point rise to i65. This advsnce was pro- duced without much effort
 General expectation yesterday was that the bank account figures will be largely reduced to-day as a result of the weeks liquidation in stocks. If cash holdings show dedease of $5OOO,- 000 loans would need to be cut down $1400O,000 to leave surplus reserves at last Saturdays figures.
 Practically all of the 10000 shares of Kansas and Texas sold on the 1-2 point decline came from one house. Foreign firms bought 1t.
 Rock Island stock woke up again yes- terday. and was strong with its better earnings. The sentiment seems to be that, with the company past the turn in the road" and speculative sentiment favoring low priced shares, Rock Island has a chance with the rest of the list.
 There was some talk that all big sales of Amalgamated meant liquidation of stock bought from 40 to SO points lower.
 Wall street heard very definitely yes- terday that before James J. Hill left this city for Aiken he signed papers connected with the development of the iron ore lands owned by the Great Northern railroad. The ore lands will | be segregated fro mthe railroad and a 1 separate corporation will be formed for their control. The capital for the hold | ing company is expected to equal $tOO,- | 00O GOO, but 1t may go as high as $120,- 1 GOO OOO.
 President o. c. Barber of the Dia- mond Match company and the United Boxboard company, is in Chicago. Hel will remain there until after the annual | meeting of toe former company next | week. Mir. Barber states that the report for the year 1905 will be | to stockholders. He declin- | ed to anticipate the showing in advance | of the meeting further than in 1904 and | that the physical condition of the prop erty had been maintained at the nigh- | est standard