The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-01-27
STOCK MARKET FEATURES
BULLS AGAIN IN CHARGE OF
THE FIELD

And Some Stocks Rally but Activity
Not so Great--SOuthern Railways
Strength--sOnle Good Statements of
Earnings--GeneraI Gossip.
The stock market was not as lively
as of late yesterday, but the bulls sue
ceeded in keeping the upper hand.
Southern Railway common was worked
up again to a new high record and
Ontario and Western was taken hold of
near the close and made active and
higher. Norfolk and Western was also
sent to higher prices, making new
high record,
There were number of strong rail-
road statements, notably those of the
Southern Railway and Louisville and
Nashville, whose gross earnings for the
third week of January ran from Is to
20 per cent over last year, and for the
Atchison for December, which slowed
a net gain Of $S3O,0OO for December.
The Hawley roads also did well in that
month.
The rise in International Power to 70
was based on reports that the dividend
would be increased to and possibly
to per cent.
Southern Railway common was re-
ported to have been largely bought by
interests close to the company. For
eigners have been urged for some days
past to buy this stock and suggestions
nave proved profitable.
Much interest was taken in bond cir
cles yesterday in the news that the next
issue by New York city would be per
cents. 1t was realized that no other
course was left for the comptroller in
asmuch as the previous issues Of 10
per cents were selling from IL to /
per cent. under par
The Atchison net earnings for Decem-
Der increased 1882 900 The net gain for
six months is $2,300,O0O, or about 2 per
cent. on the common stock.
The annual election Of the Brooklyn
Rapid Transit company showed that
the control of the property had not
changed.
Pennsylvania bulls hard and it is
now believed that the rise in the jun
Tor shares, such as Chesapeake and
Ohio and Norfolk and Western is anoth-
er means that is being used to stir up
some enthusiasm for the parent COM
pany's stock.
Forecasts for to-days bank state
ment differed. It was anybodys guess.
Considerable evidence was produced
to show that the Gates following, who
have been ''on top Of the market" were
covering their shorts and buying into
some of the low-priced shares that
have become very popular,
The bond market yesterday was ac-
tive and strong. The principal trading
was in Japanese issues, American To- |
bacco As, Brooklyn Rapid Transit As,
Rock Island Rcfunding As, Colorado In !
dustrial AS and BIS, United States Steel
Sinking Fund IS, Wabash debentures B, !
Misunderstanding Terminal IDS, and
Western Maryland convertibles.
The London purchases in the early
trading amounted to $4,000 shares, but
with the rise in prices nearly all of this
was sold out
The market as whole during the
day fuctuated with rather narrow !,
range, and had decidedly professional |
appearance.
The liquidation of speculative stock
continued in Reading, which went down
to about Isl. 1t was evident that there
was still a liberal supply of stock in the
hands of the people who bid the price
up to 1854.
The granger stocks as whole receiv-
ed good support during most Of the day,
giving an impression that banking in
terests did not want continuous de-
cline in prices.
Brooklyn Rapid Transit sold above "a,
mainly on the continued belief that
there were negotiations for transfer
of large block to the Belmont-Ryan
people at higher prices.
Amalgamated Copper showed a B.
point recovery from the low price OF
The strength was mostly due
to short covering.
WATERBURY 'FORTY-NINER.