The daily morning journal and courier., 1906-12-12

And Stocks Advance In Lively Manner
 ---CalI Money Dropped to Per Cent
 A Million Share Day Once More
 The Copper StOcks--"Rights" on St.
 PauI--Nipissing Again---CsOssip.
 The stock market bulls took on new courage yesterday over Secretary Shaw's announcement of help to the money market and advanced prices &C., cordingly.
 The announcement that $20,000,0OO treasury funds will be rendered imme- diately available for money market use, half through bond redemption and half through treasury deposits, was quite in line with what had been anti- cipated on Monday afternoon.
 Call money opened yesterday morn ing at 10 per cent, sank gradually low er lending freely at per cent, and under in the afternoon In the early London dealings there was a very sharp rise in American stocks, in the course Of which Canadian Pacific went up 5, Reading 8-4 and other issues from l to per cent. Prices here fail ed to adjust themselves at once to the higher level, and there were repeated evidences of heavy profit taking, which caused considerable irregularity throughout the session. But in the main the upward tendency was fairly well preserved throughout.
 At exactly 12 o'clock noon the tape reported the sale of a block of 10000 shares of Reading at 151 3-4. This is the heaviest single sale that has been made on the Stock Exchange since the speculative activity early in the sea- son, 1t represents, in money value, $75S,750, Reading stock being only half shares.
 Union Pacific, Southern Pacific and Atchison were also heavily bought at rising prices in the afternoon, while Great Northern and Northern Pacific fully shared in the strength and lead ership of the other western issues Reading made its high price at the opening, and was sold very freely along with Pennsylvania, copper and the steel stocks in the latter half of the session.
 For a few minutes at midday St. Paul and Union Pacific added little extra excitement to the hangers-on around the brokerage house tlcketrs At 12:25 St. Paul caught up to Union Pacific at 1S6. During the succeeding five minutes they ran neck and neck at about that price, then St. Paul bounded away to 18S 5-8, gaining near ly two points on Union Pacific, which rose slowly to 1S6 S-4.
 Colorado Fuel scored a further ad- vance. The advice to buy this stock for much higher prices is on tap every where. A new set of capitalists was said to have become interested in the stock
 The copper stocks were again prorni- nent and held most of their improve ment Als heretofore pointed out, ex- pectation in some quarters that the Anaconda dividend would be increased before the end of this month, probably accounted for some of the buying. Amalgamated would benefit by this.
 The current gossip was that the an- nouncement as to the new and pre- sumably valuable rights" in St. Paul would be made very shortly. One bull said the regular time" was Decem- bar 26.
 There was evidence that the specu- lative outside public was in the stock market to 8 greater extent than for some weeks. The "wire houses" handled several times as much interior business as they did last week.
 Nipissing stock was against the feat ure of the trading. Dealings in it.. while considerably smaller than on Monday, were accompanied by sharp fluctuations in the price. Opening at IA, the price was depressed to F Is on active selling by traders, but in the afternoon there was sharp recovery to near the opening figure. The belief prevailed in some quarters that the urgent selling of the stock was over. and that from now on a gradual 1n- provement in the price is looked fer. The directors of tho company will meet next week, and it is expected that the dividend will be Increased. About 40,- 900 shares were traded in.
 The further buying of United States Steel common, which was called good" naturally brought up renewed talk of a possible increase in the quarterly dividend early next year, The stock has only begun to sell ex- dividend but this company announces dividends long time in advance of their payment
 New high records were made by Re- public Steel and Canadian Pacific. In the case of the former Inside manipu- lation was in evidence. In the latter the pool helped to duplicate the per formance in London.
 In Boston yesterday the general list was narrow and quiet, save for good buying of New Haven and Hartford at 193.
 
 pEDUyITT nv zEr4Nrte- 1,r rvr,