The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-06-27
STOCK MARKET FEATURES
A FURTHER HEAVY BREAK WITH
CLOSING RALLT.

Many stop Orders Caught--Anaconda
Again Increases Dividend and Scars a
Little.
The bears groWled Tor stop orders
yesterday and with considerable sue
cess
There was half hour of demorallza-
ton in which the lowest prices of the
season were made, and some shares had
practically no support.
Finally the market became over sold,
and 1t reversed its swing quickly, as the
short element realized that their efforts
were not producing results and that
stocks were being taken on scale
down.
in the last hour there was very
sharp rally, in which Anaconda lead
because Of an increase in it's dividend
from 1-2 to 8 1-2per cesnt. for the
quarter. The stock rose Is points after
having fallen ga.
The Anaconda incident was used by
big people as basis for liquidating a
lot Of long stock The break of some
three points which followed tended to
disgust the street, and also induced Ii
quotation of American stocks by for
eigners.
The market at the opening was at a
point where one sharp drive by the
bears would bring out much liquida-
ton. This they realized and took adj
vantage Of. Stocks came out from all
quarters.
The utter absence Of support was
shown by the sharp breaks between
sales on small transactions. st. Paul
sold off from IT'S 3-4 to 174 on four sales.
Colorado Fuel ran off in much the same
way. This sort Of things is not gene
rally witnessed more than four or FIVE
times year.
There was a sharp upturn In Ameri-
can stocks in London. Anaconda was
the exception. This rise was due to-
manipulation from this side.
The late steadiness of most stocks
more than to anything else, The buy
Ing power" was trifing People argued
that if stocks went down on recognized
"bull'' news they might as we'll leave
the market alone altogether
There were good railroad statements.
he Atchison's for May was particular
ly strong. 1t gave a net increase of
$66G,014 on a gross gain of about $780,
GOETHE total income for eleven months
has Increased $3.50, 1902. There is little
doubt but that the dividend will be in
creased to 5 per cent. in the autumn.
The Gould roads made small gains for
the third week of June. Southern Rail-
way gained S96.231 for the same period
and Canadian Pacific 100000,
Southern Pacific was unusually
steady most of the day, which may be
due to a plan to issue rights on more
preferred stock. Yetthis is conceded to
be fictitious argument for buying
the stock.
Amagamated Copper sold at lis ia in
February after the dividend was adj
vanced to 6 per cent. Yesterday it was
twenty-five points lower as Z per
cent. stock.
The attempt to bid UP stocks an the
early adjournment of congress excited
only amusement in speculative quar-
tiers. At he very time when this was
being used as an argument advices
from Washington stated that no defln-
lite date for adjournment htd been set
as yet.
After it had sold at 9S 3-S Amalgam-
ated Copper was offered down two
points on sale of about 10000 shares.
Taylor, Livingston & Co. sold 10000.
Brokers advised buying for quick
turn, and were very cautious about
giving advice for as long ahead as
next week.
The men most closely identified with
Amalgamated Copper are alleged to
have withdrawn support last week
when it became known that fresh on
slaught on Standard Oh interests was
coming.
Although Baltimore & Ohio has not
benefited by the increase in the divl-
dend, it's attitude indicates good buying
at current prices
Money ruled easy here, notwithstand-
ing the preparations of some trust COM
panles to reduce their loan account in
order to comply with the provisions of
the new reserve law.
The declaration on Anaconda of $1.375
per share puts the stock on % per
cent. basis against Is before. Content