The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-06-05
STOCK MARKET FEATURES
MOLE BUSINESS ACTIVITY AND
STOCKS FIRMER.

STOCKS FIRM En-.
A Quiet, steady Rise of Month
Creeping Market--Public Taking Re-
newed Interest--FavOrable Features
Cotton Observation-Disclosures Re-
port-Fine Wheat Promise--Gossip.
The stock market showed a better
tone yesterday and some nibbllng by
the public. AS is usually the case the
spread of outside interest in the mar
ket begins to show after there has been
a good-slzed advance, and when the cir
cumstances which brought about the
slump have ceased to alarm.
Since the 'Frico horror active stocks
have crept up on an average of 10
points from the low.
Sales of stocks to noon were 100000
shares, as against only 100000 for all
day Friday Bond sales were a little
larger, but not proportionately with
stocks.
OF the shares that were active yes
terday st. Paul has had gain of 20
points, Colorado Fuel Of nearly rs,
Reading of 30, Union Pacific Of 10,
Amalgamated Copper Of u, Louisville.
and Nashville of Is and Missouri Pa
cific of IL.
The submission of President Roose-
velt's message to congress on the pack
ing house situation, with the reports of
the experts, came in for great deal
Of comment in the financial district.
The first government report on cot
ton of the sason was presented yester-
day. 1t shows condition Of S4.5 per
cent, compared with 772 year ago
and 50 in 1904. The acreage is larger
by 100000 acres than last season.
st. Paul was reactionary during the
second half of the day, and was under
manifest selling pressure, while other
stocks were being advanced. st. Paul
was the leader last week. Having ris-
en- some points, a reaction of a third
Of this amount, on profit-taking sales,
was entirely natural.
The first detailed analysis of the win
ter and spring wheat situation by the
most authoritative of the private crop
experts was submitted yesterday. 1t
tells story of abundant promise for
those grains.
Tips began to come out again, The
American Locomotive company, it was
alleged is about to absorb the Railway
Steel Spring company. There was no
confirmation of this story. 1t was not
generally believed. There were similar
rumors in plenty bearing on Colorado
Fuel, Republic Iron and Steel and 9TH
Ell companies.
The Gould stocks look better. Mis-
souri, Pacific has been creeping up slow
ly and holds its advance well. The same
is true of Denver and Rio Grande, The
heavy speculative interest in Wabash
debentures and the demand for them
around SO seems to offer proof that the
new financial plan will go through
Wabash preferred has been getting
good support in the neighborhood of
50. The declaration of the regular d.,
vidend yesterday on Missouri Pacific
ought to help this group.
Brooklyn Rapid Transit was given a
small lift with the usual Sunday trav-
Ell" argument. 1t was asserted that
yesterdays traffic to the beaches was
the largest on record for a Sunday
Renewed speculative interest was
strong in such stocks as Atchison,
Shelters, General Electric, American
was given to Union Pacific.
An event of the day was the publica-
ton of the annual report of the Anal
gamated Copper company, showing
surplus for the year after dividends of
only $312,000 The Street had been ex-
pecting several millions. The stock
promptly went off nearly a point, but
within a few minutes rallied from 107
So to above 1909, and 1t was firm at mid
day. The popular view was that the
statement did not show the real con-
dtion of the company, but that the
earnings. had been covered by numerous
improvements, charged to operating ex-
penses 1t was asserted that the COM
panys output had been sold ahead at
is IL cents pound.
The movement in Atchison, which has
hung FIRE for so long, gave signs of re-
vival in much larger volume of bus
mess and good support on the rise to
91 1t is making a late response to the
splendid winter wheat reports.
Missouri Pacific rose quite smartly,
with te accompanying help of the reg
ular dividend of 1-2 per cent, where
some had been predicting a reduction.
"A considerable short interest in this
stock was driven in, Kansas and Tex
as, Louisville, and Southern Railway