The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-07
NALL STREET LOOKS
1 FOR BULL MARKET
Sees a Big Rise in the Recent
Framing Up of
Prices.
Special to The journal.

Special to The journal.
New York, Oct. 6.-Two weeks or
more ago shrewd observers expressed
the opinion that the market had been
set, adrift by the large interests which
had been chiefly, responsible for the big
advances recorded up to that time.
Those who have been watching the
transactions closely during the last two
weeks have been convinced that the
market was almost entirely lacking of
support from the large interests, except
upon few critical days. With the
week it is believed that powerful inter:
ssts came into the market again and
that during the next two or three
weeks they will be the guiding factor.
As a result, considerably higher prices
are looked for for St. Paul, Union Pa
sifc, Southern Pacific, Amalgamated
Copper and the United States Steel
stocks. Some of the shrewdest observ-
ers are inclined to the idea; that the
heavy trading will not include the low
priced issues as a class. Several stocks
in this group, however, they expect to
see move up materially on the strong
position of the companies which they
represent and by reason Of the extreme
~ low prices at which the stocks are
sailing. ,.
During this period Of expected activ-
-0
addition to the announcement OF ma,
terially increased dividends for several
pf the leading railroad stocks, import
ant deals will be made public. 1t is
Eaken for granted now that the Great
Northern ore deal will come out with
in a few days. Railroad men are firmly
Of the opinion that considerable num-
Der Of the st. Paul directors, among AMONG;
them the two most prominent members
of the board, would not have ]ourneyed
70 milwaukee, to attend an annual meet
inc of the stockholders If matters OF
GREATER Importance were not passeu
mon than those included in the official
announcement made after the meeting
Attention is called to the fact tnat
these prominent directors did not make
an inspection trip of the st. faul sys'
tenn, but returned promptly 10 1nis ae eriy'
AS consequence OF these lncldehCs
which must be regarded as unusual, an
important announcement, from the 81.
Panl office is expected almost daily by
well-informed railroad men.
While it has been claimed that the
recent strength in Rock Island st.
was not due to inside buying, shrewd
observers are inclined to believe tn?
both the preferred and common stocks
have been quietly bought Tor some t 1ine
BY insiders who cannot fail to reallze
the rapid strides that have been made
towards placing the property in the p %
sition, physically and financially, which
was mapped out for it by the control
, ling interest when the dividend ~ re-
trenchment policy was put into ettecy
A man who is fully conversant win VII
what has been accomplished TOR tht
Rock Island, expressed the opinion re- e.
Gently that within comparatlvel!
short time the Rock Island secur1tleii
would command the same position ina
those Of the original Rock Island sys
tenn held for so many years. IN ne ne
meantime, he said, the condition OF tne
nronerty would be raised to such a
Standard that the entire ROCK lslah 4!
system would rank in every respec1
With the great systems in the United
e TT IS learned from excellent. sources
that there is no probability OF, a con
test for control at the annual meet
mo Of the Illinois Central stockhold
ers to be held on Oct. IT.. From tht
same sources it is learned that tnt
contest was dropped last summer whe1
an agreement was reached at an I'm
nortant meeting Of the directors. L
e understood that the present man
apement has received proxies for mucl
more than the required amount Of
stock to continue it's control. The an