The daily morning journal and courier., 1906-12-15
STOCK MARKET FEATURES
PRICES ROSE EASILY AND HELD
 WILL.

St. Paul Sells Near It's Highest Record
 and Canadian Pacific Does Stunts AIso--sharp Rise in Hill Stocks
 Bingham, New Haven, c. & M. Co.,, Declares Another Dividend-New Ha-
 ven Road Sells at 192 Ex-Dividend. The calling of bank loans was ommit- ted yesterday, and things worked well, for that bulllsh feeling which some of the experts say is only held in check and repressed owing to the tightness of money.
 Evidently money was freely supplied yesterday from some quarters.
 Union Pacific, for instance rose 3 points, Great Northern 8-4, Northern Pacific, 3-4, Reading 7-S, and St. Paul, ' Is. The excessively violent movement in St. Paul stock continued unexplained.
 It is figured out in one quarter that wealthy adventures have large specu- lative holdings on their hands-hence the tendency to rise at the least provo- cation.
 The pivotal stock was St. Paul. It rose ' points soon after business began. while Great Northern and Northern Pa- cific were falling. Then it fell nearly 5, but subsequently, it touched 19S. The prime reason for the strength was the buying by the Standard Oil interest in the property. They have already the majority of the shares, and the proposal to issue possibly as much as S75, 900, 900 new stock makes further accumulation an advantage, The floating supply is small, and there has been short in terest of 10000 to 15,000 shares. Part of this was covered yesterday around 197.
 Call money rates changed from 19 down to 6 per cent. Time money was limited to small supplies at very ex- cessive figures. The bank statement to- day promises rather nominal changes, owing to loan reductions, which offset losses in cash and to the United States treasury.
 It is claimed, however that one in- terest has been borrowing $40, 900 900 to $50,O00,0OO against purchases of St. Paul. London bought probably 10000 shares in this market, out of SO,O00 traded in. The purchases were chiefly of the grangers, with some of the Hill stocks. Wall street assumed alarm over the stories that there was competition on F1o. op ho Tn +Lok the Hartman people were selling out their Great Northern and Northern Pa cific holdings.
 The attack on the Hill stocks was generally regarded as a closed incident. The assurances given by MT. Hill as to the legal position of the new stock tended to reassure Wall street. All of the interested issue showed good ral- lying powers.
 Some sign of a revival in copper shares is apparent. Price of the metal was up again in London. There was big speculation in Greene Consolidat- ed on the curb.
 Of special interest to many In New Haven is the announcement that the Bingham, New Haven Copper & Mining company has just declared another di- vidend of ten cents share.
 St. Paul is the only stock that has not declined on its good news. That is, it has not been subject to attack when righta have been issued.
 After loans had been renewed to IS per cent, the call rate soon fell to IA, and 12 per cent. At these figures there was heavy lending, Later the rate dropped to and per cent, but by this time most of the loans had been se- cured. The market was helped by very largeoffers from out-of-town banks.
 A peculiar feature of recent market movements has been the concentration in high-priced stocks.
 The opinion was fairly general that some of the same people who were buy ing St. Paul were liqutdating Union Pa cific and Southern Pacific in order to secure the necessary cash.
 Closing of the negotiation for ontrol of the Mexican Central stimulated the market for 1t.
 The separation of it's coal interests by the Buffalo, Rochester and Pittsburg railroad, through the formation of 8 new industrial company to control the coal lands, and the distribution of the latter's shares among the railroad stockholders, at a ratio of 25 per cent, was much discussed yesterday. It was the general belief that this points the way to early action along similar lines by leading anthracite railroads, to com ply with the law.
 Practically all of the Hartman and Standard Oil brokers figured in the Se Paul movement.
 The buying of Canadian Pacific which put it up to 200 at the close was most ly by pool made up of local, Canadian and local capitalistr.
 A block of 200 shares of the New Ha- ven road sold at 192 ex-dividend yes terday.