The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-01-15
BIG GAINS MADE
IN STOCK MARKET
Speculation Broadened With
Easier Money and Forecasts
OF Heavy Receipts.
THE SOUTHERN IRON STOCKS
Rumors Revived That Arrange
ments for Expected Merger
Are Being Contemplated.
Especial to The Times. pispatch.)

i.SpeGlal 10 TIC JlIucb-DlsDatCD.)
NEW YORK, January 1.-THE stock
market during the past week has been
rather irregular, and with no material
changes IN prices. Coppcrs, Colordo-
Southern. Union Pacific, Tennessee Coal
and Iron, Great Northern preferred.
Northern Pacific and "a few others were
prominent textures. There were advances
almost daily in these particular stocks.
Great Northern preferred sold above 800;
Union Pacific exceeded l5s, and Northern
Pacific sold as high as 2l1. Profit-taking
was evident, but the market held Its
own throughout.
The market on Monday was broad and
active. Prices were higher in most cases,
but in some prominent instances holders
set about profit-tan.ng promptly at the
opening. Money was offered freely but
the declines in rate did not make much
progress below the level reached last
week.
The market Wednesday was confused
and irregular from the opening till the
cloSe. There was little news to accom-
pany the various movements and the ex-
plantations for them dealt more with tech
meal market conditions than with any
thing bearing on changes In actual values.
The Southern iron stocks made sensa-
tional advances. and runors were revived
that the arrangements for the expected
merger were being completed.
The Northwestern grangcrs and Pac!ilcs
shared In the advance. and stories OF
coming extra disbursements and new al
liances were manifest in the movement.
There was free realizing in Union Pacific,
Reading. the Coppers and some others.
The rise in money to eight per cent. con-
tfibuted to the late reaction. which wiped
out most OF the days gains and made
the closing easy.
Active dealing AZ the opening on Thurs
dag carried prices higher. with few cx-
ceptions. Anaconda jumped points, with
a reaction OF g. st. Paul Hlvanced / 5-S.
Kansas and Texus / 3-s, Atchison and
Tennessee Coal and Iron a point. and
Brooklyn Rapid Transit and Amalga-
mated Copper large fractions. Sugar de-
clined "a OF point.
Pressure coon developed, however, and
Copper, the United States Steel stocks.
ST Paul. Union Pacific and Reading de-
clincd TO email fraction below the close
OF the previous day. The market recov-
cred again, however, and the tendency
WAS upward till the last hour. when a
slight reaction set in. The closing, how
ever, was very strong.
Speculation on Friday was animated
Gt1d very buoyant. This restored the
appearance OF the latter part of tho
previous week. The buoyancy OF Great
Northern preferred was sustaining In
iluence among the other Pac.fics. espe-
cially Union Pacific, owing to It's hold
Tugs of Great Northern stock. The profit
taking was evident. but without effect
on prices. although speculation was ex-
tremeIy animated in the late trading.
some OF the prominent leaders being ad-
vanced to the highest point OF the day.
Notwithstanding this strong demonstra-
ton. there was some irregularity UP to
the closing.
Heavy buying orders were in the mar
ket Saturday morning, and although the
gains in the general list We're at no
Tine extensive on account OF a large
volume of realizing sales the market
displayed great strength and offerings
OF stock were at all times readily abb
torbed.
corded before the appearance of the
for the excellent return made by these
institutions was avalled OF for profit
taking purposes and recesslons from the
high points were made In the last half
hour.
At the very close. Brooklyn Rapid
Transit was rushed up more than two
POINTS and other fractions were firm in
sympathy.
Money during the past week returned
to it's normal condition-sx per cent. be-
ing the ruling rate. 1t is believed that
the high rates of tho past month were
charged by multiplication. Money
next week on, will be in plentiful supply.
January disbursements will find re-em-
ployment.