The daily morning journal and courier., 1906-11-09
STOCK MARKET FEATURES
NOTHING HILARIOUS IN YES-
 TERDAY'S DOINGS,

Dullness Reigned-No Promiscuou,
 Selling Nor Buying-Big Leaders
 Curbing Speculation Because of
 Money situatIon-WooIen Company
 Stock Increase-Nipissing weaker-
 Illinois Centraps Future-.The Days
 Gossip.
 Yesterdays stock market was a dull affair-dull throughout, varied only by ] slight selling movement at the close which carried off prices of active stocks a little.
 Foreign bankers who were perturbed | rearing an outburst of speculation aft CT the election that would do up the money market found no need for wor- riment in yesterdays market work.
 The total transactions were half those Of Wednesday and under 500, 900 shares If this condition is maintained there will be no basis for the claim that Wall street is absorbing all of the available capital and that money is tight because the demands of the finan- claI community have been excessive. | Wherever an attempt was made to | advance stock it was discouraged by quite heavy offerings.
 News from E0ndon was that the Bank of England was getting along comfortably with gain of $9,2OO,0OO in bullion, which lifted it's reserves from 36.51 to 3S39 per cent. and the total reserve is now S95,0OO,OQO With the Bank of England rate remaining at 6 per cent Wall street breathed easier
 The Bank of France also showed a strong condition in which the reduction in laons of $26,OO0OOO figured conspicu- ougly.
 The markets weakness at the close was du etc the advance of call money in the last hour to the highest of the day.
 There was an active demand for fixed date funds yesterday and the vol tune of business was larger than of late.
 Money yesterday: High, 10; low, 6; closing, 6; mostly all, 7per cent
 A keen foreign exchange banker said yesterday afternoon that he wished he could inspect the foreign exchange ac- counts of the leading banks to see what portion of the loans shifted from Flu rope last week were carried under that item.
 It is a conservative guess that the stock in the Illinois Central secured by MT. Hartman and his friends the past four years has not averaged a cost above 15O. There are 10 per cent. divi- dend possibilities in the road under the Hartman system of operations. With it's long dividend record Illinois Gem tral, on a 10 per cent basis, would sell at 250
 The declaration of a dividend of 2 per cent. on American Cotton Oil com mon, against per cent for each of the last two years, was preceded by a small advance in the stock It soon lost all Improvement on profit taking sales.
 The 10-point rise in Pullman in two days goes quite ways in dtscounting the expected rights from the sale of some of the company property. These rights have been valued at $S5 share.
 The weakness of Brooklyn Rapid Transit was probably caused by tho election of a democratic attorney-gen- eral With Hearst sympathies, who has it in his power to open up the election contest between Mayor Mcclellan and Hearst.
 At meeting of the directors of the American Woollen company held in Boston yesterday 1t was voted to rec- ommend to the stockholders an increase in the preferred stock of the company by $1O,OOOO0O from s25,O0O 1000 to $35O0O,- 900. The common stock dropped three or four points at the news.
 There will soon be a great deal of dis cussion of government corporation reg ulation not calculated to stimulate speculation.
 The 10 per cent. money rate followed efforts of borrowers to provide for in- debtedness formerly carried on the oth- CT side.
 The strength of the steels was not able.
 Predictions that Secretary Shaw would again come to the relief of the money market by retiring a portion of the As of 1907 before maturity were made by some of those who bid stocks up early in the day
 The First National, whose loans in- creased about $35O0,OOO last week, put out $3,O0O,0O0 at per cent yesterday.
 Nipissing broke sharply on the curb yesterday, losing ? points to 2S. This was the most active stock of the out side market.
 The further rise in Northern Pacific seemed to emphasize the point recently made that stockholders are to receive some additional compensation.