The daily morning journal and courier., 1906-11-16
STOCK MARKET FEATURES
ANOTHER RISE IN PRICES YES
 TERDAY.

Third Day of Advance-st. Paul and U
 r. Notable Features-Money Dropned
 to 21. Per Cent.-standard Oil Divi-
 dend-This Stock Sold Lowest in
 Years Yesterday--st. Paul Stories
 Denied--GOssip of the Day.
 The stock markets advance this week has brought about an average rise of 1-2 points. This gain is confined thus far to few issues as the movement is vet a narrow one.
 St. Paul is 15, Union Pacific 6, South ern Pacific and Reading 5 1-2 points above Mondays quotations. The con- tributing cause is easier money, not deals or stock rights
 It required fresh manipulation to car ry prices to the afternoon basis.
 The market had an exhausted caste after Wednesdays big rise. Stocks were in good supply.
 The good selling of Northern Pacific by firm often employed by the Hill interests attracted more attention than did the active bidding up of this stock on Wednesday.
 Renewals of call loans were made at 6 per cent, This has not occurred for weak.
 Most of the ordens in Union Pacific, both buying and selling, originated from the brokers who are generally enl- ployed by the clique now active in the market, and it is probable that there was a good deal of matching of trans actions,
 With the bank of England reserve above 40 per cent. practically all anx- iety over per cent. discount rate is removed.
 Union Pacif1c's sudden rise of 3-4 to 1S4 1-2 at the opening was attributed in well informed quarters to the expected publication next week of the com panyis annual report
 The story of St. Paul-Southern Pa cfic deal has been denied by E. H. Hartman and his bankers and by all the officers of the St. Paul who speak authorltatively
 The cotton market continued very firm in the early afternoon with prices reaching new high levels for the move- ment. January sold at 1017 on the ad- vance, and December touched 10.1S on covering of shorts.
 The October statement of domestic exports was big one. The total of $1OS772,OO0 is the largest on record for a similar period, and the gain of $22,- l 4470O0 very satisfactory months re- suits Exports of cotton were 5000 | GOO.
 In railway circles 1t has been known l for some time that the Hill interests were watching the plans of the St. 1 Paul. In reaching the Pacific coast the : St Paul will cross and recross the Northern Pacific six or eight times
 Great Northern's gross gain for oc- tober was $484,224. It would have been double that but for car shortage
 The local stock market started higher for the most part though St. Paul soon began to sag off, under liquidating sales for many accounts. Union Paci- tic and Reading took turns in being the leaders, and they served to sustain prices fairly well for a time.
 It was stated with much frankness that some of the large banking inter- ests identified with the stock market had bought stocks on the break pro- duced by high mloney and had sold part of them Wednesday and yesterday when money was easier.
 With the easing of money here and an improvement in conditions in Lon don there has been an expansion in the option business. Calls on Steel Union and Southern Pacific and some of the low-priced railroad shares, ma turing at the end of Janlary, have been well received. The favorite is Still common. Directors of the Standard Oil com pany yesterday declared a quarterly dividend of $1O share, the same amount as was declared at this time last year. The dividend paid three ago was $6 a share. Yesterdays declaration brings the years disburse-  ment up to $40. Last year the same amount was distributed; in 1904, only $S6 was paid The record of other years since the company's organization, is as follows: 1891 to 1895, SIP a share in each year; 1896, $S1; 1S97 $33; 1898, $50; 1899, $S3; 1900 and 1901, S4S in each year; 1902, $45, and 1903, $44.
 After opening up several points at 56S yesterday Standard oil stock broke 29 points on the curb market to 545, a new low record for several years, Sales were fairly heavy. being about 150 shares All transactions in this stock are fractional, and it is some years since as many as 100 shares were sold in single lot. The decline was with out effect on the general market