The daily morning journal and courier., 1906-02-02
STUCK MARKET FEATURES
BULLS IN CONTROL AGAIN AND
 HIGHER PRICES.

Der Stock-Naugatuck k. R. Stock
 holders to Get $500 Per Share. l Stocks were strong again yesterday, with the bulls pressing the shorts and bringing out rumors of deals, new and old.
 The metal shares, Union Pacific, Reading and steels were the leading features.
 {, In the last hour the best prices of the day were reached.
 The short interest in Reading ran the stock up several points, and it was ru- mored that Kessler was buying again.
 The strength of the general market in the closing hour was utilized for heavy liquidation in the copper-mining stocks.
 There was some scattered commission house liquidation in Missouri Pacific down to 1001a. Then it was quickly bid up points.
 The rise in the Northwestern railway stocks in the afternoon was accompa- nied by report that a deal of some proportions is near at hand, with vari- ous Vanderbilt lines the basis. It was alleged in some quarters that New York Central, Northwestern and Union Pacific will finally be brought together into closer alliance.
 The loan department showed a great ly reduced demand for stocks yester- day.
 In connection with the late rise in Great Northern to 329, which was 10 points above the early prices of the day, and established a new high rec ord, the old story was trotted out-that the papers had been signed for the sale of this companys iron ore land to the United States Steel corporation.
 Formal action was taken by Peoples Gas directors yesterday in reducing the dividend to IA quarterly
 Realizing was very heavy in the last few minutes, and it was generally agreed that the manipulation of the closing hour had enabled certain cliques to dispose of extensive lines of specula- tive holdings.
 Metropolitan shares were under pres- sure early. It was learned that 9S1a per cent. of Metropolitan Securities holders have paid the third call.
 Cable dispatches intimating that the foreign borrowings of large Wall street interests, some of them closely identi- fled with the stock speculation of the season, are being transferred from London to Paris, were much comment ed on.
 Interest rates on stock accounts in January ranged from 6la to per cent. The high average was due to the ex- lcessive figures at which call money loaned during the first few days of the month.
 The Chesapeake and Ohio has just sold $4,0OO000 first mortgage per cent. to take up an issue of notes maturing in April.
 Reading was run up in the face of a threatening strike in the bltuminous district, as reflected in the news from Indianapolis. The street was not dis posed to buy Reading, but it is suspect ed that good many sold 1t short. tllO IllONG dSdllloI tAllo GlOiiAIHtp which carried the price up fully ten points above the low level of Tuesday, which was 134A. Enormous lots chang ed hands on the rise.
 The stock market had several buoy ant periods; there were also intervals of hesitation, when 1t appeared that prices were on the eve of another reac- ton. The feeling in regard to the fu- ture was greatly mixed.
 Metropolitan Securities and Metropol- : itan Street Railway shares were weak yesterday under liquidating sales, be- cause of misgivings in regard to the financial condition of the former com pany, as alleged by the Wal street in- terests which are Investigating the property.
 The $5O0O,0O0 additional first preferred stock of the United States Rubber com pany just listed at the stock exchange has been sold for cash to syndicate represented by the First National bank at $110 share.
 The Bank of England reported yes terday an increase for the week in gold coin and bullion holdings of e320,5S0 : Proportion of reserve to liabilities is now 42.52 per cent, against 4O.9O last week, 42.S9 January IS, and S9.50 Janu- : ary 10.
 It was known before the market open l ed that there was some agitation ir [ Washington among the minority lead CTS in the house to investigate the , status of the Hartman roads along the , lines proposed in the Gillespie Pennsyl- 1 vania resolution. Not much alarm was , felt over it.
 r United Copper began to rise in the face of the collapse in other stocks ear. , fly in the week. It has been heavily ' bought and by the first hour yesterday { it had risen from around 65 Monday tc IS, new high record. Trading yester. | day was on an enormous scale, being [ about 5OOOO shares, or over 100000 1T three days,
 5 The list was very sensitive to rumorS $ of deals and the actual working out oi some arrangement between the Heiznt and Rogers interests to keep the gen. ecal market steady. Amalgamated Copper sold at 11S al f the opening, and Anaconda started witt , 10000 shares, from 2SO to PTS. On thu curb United Copper was rushed up tC , IT, ten point rise in two days. Int only evidence that there is a deal or involving the Montana properties ex
 ists in the action of the stocks con cerned.