The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-01-10
STOCK MARKET FEATURES
A HESITATING AND WATERING
SITUATION.

IndustriaIs Strong and Then Railroad
List-DecIine in the Afternoon
Profit Taking Appeared--GOssip.
The stock market was hesitating and
Wavering yesterday.
There was little less fervor among
the bulls, and a disposition to take
profits was shown,
The Wayering character of the mark
ct eventually led to some vigorous man
ipulation in the hope of correcting this
tendency. But, after rising to about
the best prices, stocks declined rapidly,
and were near the lowest at the closing.
Heavy liquidation by Westerners caused
some Of the uncertainty.
I. |. C. and other southern stocks
We're strong on its report that an an
nouncement as to the talked of deal
was imminent
There was much talk of late from
Philadelphia houses that such shares as
Chesapeake and Ohio, Norfolk and
~ NSSlAAA 1AAtL lOdAl1lAOIC dllO OulO WOULD
be advanced, and simultaneously from
interests identified with the Vanderbilt
interests that Big Four and Nickel
Plate stocks would be lifted.
To pool operations is attributed the
rise In many Of the low priced indus
trials, such as Car Foundry Pressed
Steel. American Ice, Central Leather
and the like.
1t is said that gold exports, over
which the market has been worrying,
are not an immediate factor.
The reason for the weakness seemed
to lie in the general desire to take
profits, which manifested itself in a
number of active issues. While this was
going on Canadian Pacific, Duluth,
South shore, and some others were
marked up to steady the market. Be
fore the close some stocks rallied lit
tie from the previous low lever.
Yesterday again the best buying in
The United States Steel stocks was in
the preferred stock, The feeling is that
it is more entitled to advance on it's
own merits and the income it yields
than Is the common.
The selling pressure against Anacon-
da and AmalgamateG continuedA The
tape announced that no more than
per cent. rate would be declared at the
coming meeting Of Amalgamated's di-
rectors.
A large amount of time money was
put out yesterday on a IL per cent.
basis for four, five and six months.
Some ninety-days' money brought per
cent. fiat, and considerable volume of
out Of town funds was loaned here.
Wall street banks reported that it was
no longer possible to get the commits
sion for making such loans, and that
nothing better than 6 per cent. could be
obtained yesterday.
St. Paul sold at 1S5, the highest since
last April, when it touched 1877 IL. The
financial arrangements for the coast
extension are very near completion.
The Hill stocks were strong again and
especially Great Northern pf. This adj
vance was associated with that in KAN
sas and Texas common and preferred
shares. The feeling has been created
again that Mr.. Hill means to tack this
system on to his northern lines for a
gulf outlet, but Mr.. Hill steadily refuses
to stand for the report.
The Boston market was active and
strong in spots yesterday, but in gen
eral had an easier tendency without
pronounced losses.
Western Maryland stock has moved
1lp a half dozen points since being list
ed ON the board recently.
In the Broad street curb market new
Corn Products Refining stocks, when
issued sold at 20 IL for the common
and 81 for the preferred. The new
stocks are to be given for those of the
nresent Corn Products company at the
rate of three old for two new-common
for common and preferred for prefer
red.