The daily morning journal and courier., 1906-10-26

OiGAEs& 0NhAN GAAAA AAOAU Gp S~ count Rates--BettIng in New York Big Break in CottOn-ShannOn's First Dividend-Swift Stock Active--GOssip of the Day.
 The stock market was dull affair again yesterday, and inclined to weak ness.
 The Bank of England rate remained at 6 per cent, although the ratio of re- serve to liabilities fell to 36.64 per cent, compared with S7.7O a week ago, and the total reserve was shown to be only $9OO00, 900, or $16500,QO0 less than year ago, and $45000,0OO under the total of October, 1904 The Bank of France maintained It's previous policy. There was nothing in the weekly statement to change it, while a gain of $1S,OOO,OW cash probably helped keep the Bank of Germany rate at per cent,
 It is now expected that the first of November money strain will be tided over safely
 All Wall street has now an eye out as to the coming election Yesterday the betting odds on Hearst dropped from to 1 to 21s to 1. More than $1OO,OOO was wagered in the curb mar ket. At first the odds were strongly to 1 on Hughes, but the Hearst money came in so freely that the rates receded to 21s to i. Most of the Hughes money was bet at to 1, but some bets were closed at 21s to l. The largest was one of $1,250 to $500 on Hughes, which Wrenn Brothers made with w. C.. Moore,
 Two freak offers to bet were an nounced by G. R. Buchanan, member of the stock exchange, yesterday One is $2,50O to $7,500 that Hughes will win by 100000 plurality. The other Is $tOOO to $15, GOO that Hearst will win by 100000 plurality.
 Amalgamated Copper sold ex-divi- dend of 2 per cent. and lost point General pressure against United States Steel common carried 1t under 46. or a lower quotation than was made last Saturday.
 The Baltimore and Ohio statement was one of the strongest of the year. Cross increased nearly $10,0000OO and net about s5,00O0O0 The increase i'll surplus was $5,6OO,OOO, This equals 1OA per cent. on the present common stock of $152, ,9SO, 900 and justifes the raise in the dividend from to per cent.
 The census bureaus cotton crop re-
 10 rostruma of the Cotton exchange promptly at o'clock yesterday after noon. proved more favorable than had been expected, and was the occasion of enormous selling, which broke the mar ket almost, immediately 23 to 25 points, or over $1 per bale. The December op- ton sold down to .1O.50, while January went to 1O60 and March to 1915.
 The interest and dividend payments on November l will reach $6SO00000. This is about s2O 00O,00O less than on the 1st of October.
 The heaviest selling during the early setback was by several well-known op- orators, who take either side, according as they affect to get information bear ing on the market which should be suf- hcient to influence 1t. Yesterday they gave out that Tammany leaders assur- ed their friends privately that Hearst is sure of election. This, from q Wall street standpoint, would be bear point.
 Failure of the Pressed Steel directors to declare a dividend on the common stock was reflected in decline of about points.
 During the break in prices just before the close reports were circulated that trouble might occur in connection with the last day of the London settlement to-day. This feeling was not generally shared by bankers, but it answered as an excuse for Trading" stocks.
 It is thought that some of the long interests in Steel common have beer reducing their commitments on th' idea that the market will not accep with favor policy of keeping divi dends at the present rate. The nex declaration will be made Tuesday.
 It was again alleged, as an explana' ton of the market, that the poitica situation was receiving much attention Another matter which also caused some comment was the growing de mands of labor upon the railroads
 When traders yesterday found tn market too narrow even for them on of their number bought watch from member of the crowd for sixty-eigh cents. Then he started to ratfie 1t ot at $1 chances. He made $30, This i equivalent to one-eighth on 25O share of stock
 The heavy break in Reading occurre in the last twenty minutes of the mar ket, when the stock fell 2 points unde heavy selling. It was assumed tha this represented concerted efforts to un dermine the position of speculatlV pools. This stock is now IS points pc low its price of a week ago.
 The narrowness of the market ha reduced the trading unit to eighths an quarters. Not little evidence wa given of brokers who were buying on scale down and of others who were dis tributing securities with every frac tional advance
 SHANNON's FIRST DIVIDEND.
 The directors of the Shannon Coppe company, in which there is a large lC cal interest, at a meeting yesterda
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