The daily morning journal and courier., 1906-09-18
STOCK MARKET FEATURES
EARLY BU0YANCK AND 4 WEAK
 CLOSING.

Cent. at the CIose--Knickerbocke Ice --@Katy's" Better PrOspects--"Re- becca" Lags-sugar Better-The Days Gossip.
 The stock market was buoyant, and a big business was done in the fore noon. Over a million shares were trad in before noon. The closing was weak, as call money ran up to 10 per cent.
 In the forenoon rise Reading, Balti- more and Ohio and Pennsylvania were the features, while stocks of the un- stable kind were also taken up.
 The trading was on a larger scale than for several weeks. An impetus was given to business owing to the bet ter record of the last bank statement.
 Possibly the next bank statement will show further improvement,
 Anyhow, we have apparently secured about all the gold we can get from Eu- rope for the present.
 The only addition to the gold move ment yesterday was $2,000000
 The rise in Reading, Baltimore and Ohio and Pennsy grew out of the mys- tery surrounding control of the first two and renewed reports of per cent. dividend on the other. The l5- point rise in Reading likewise has cre- ated the impression that it is destined for larger dividend.
 A development of the past few days is the outlook for larger dividends on some of the industrial shares. Move ments in such stocks as Locomotive Distillers, Ice Securities, Cotton Oil Rubber and Car Foundry have their origin in some such prospects, That the industrial concerns are doing well is shown by the big earnings on Loco motive and in yesterdays report of the Steel Foundries, where a deficit of $114562 was turned to a $1,O0O000 sur plus.
 Republic Iron and Steel, or "Rebec- ca" has Jagged of late, and seems begged.
 About the time Vulcan Detinning had a sudden rise of points yesterday morning rumors were freely circulated that prominent metal people were desir- ous of purchasing block of the stock There were indications that insiders were anxious to have such rumors widely circulated.
 Talk arose yesterday of a per cent dividend coming on Cotton Oil common. Last year 1t paid per cent, Once in a while it pays 4 per cent. That is in re- markedly good years for the business. There was some suspicion that the 4 per cent talk was in order to sell on
 Within a few days the Reading an nual report will be published, and it is believed that the showing will not be as favorable as last year, when the surplus, amounting to $721800O, was equal to 10 per cent. on the $70,000,000 common stock.
 Some o 4e brought cut the z per cent. Pennsylvania dividend story, and the street responded to it with a rise above 145. Concidently there was heavy sell ing of the convertible bonds. A great deal of stock has been absorbed be- tween 142 and 145, which places Penn svlvania in a good position for another move. It has not yet responded to the North river tunnel situation.
 Southern Pacific made a new high record above 95, and Union Pacific crossed 190, which brought 1t near the high mark made before the dividend came off,
 St. Paul, Reading and Pennsylvania led the decline of from one to two points throughout the list, which start ed shortly after 2:15. Union Pacific and Copper were notably weak until the downward movement was partially checked about 2:3O. It looked like prof. it taking
 There is more talk of an approaching boom in Coppers. The Lake Superior Butte, Nevada-Utah and Arizona groups have consistently refused to re- spond to trade conditions. Now the possibility of a copper famine is stir ring them some,
 The present movement in Reading which has carried the price to within ten points of 164, the previous high rec ord reached on January 23 last, is char acterized by those in position t know as purely speculative.
 The London trading was unusually heavy. It amounted to 50,000 shares Of this 10000 were sold on balance Europe is still disposed to sell it's high priced shares, and to buy Ill place 0 them the cheap stocks on which it ex poets to realize a profit later.
 Money did not advance violently un til the last hour, when 10 per cent. wa touched Prices abroad ruled firm, ant at London the familiar manipulation made American stocks the feature o activity there. Consols showed an ad vaneing tendency.
 A very widespread tip on Amalgam ated reached London first, gave it a 1-2 point start of New York yesterday This market fully met the foreign ad vance.
 The rise in Missouri, Kansas & TeXa was or the good showing of the an sual report. This satisfaction hal plore to do with the large outlay fo Improvements than any percentage o earnings applicable for the common stock. The advance in this and othe iow-priced shares was considered as in dicating broadening tendency.
 The expected resumption of a pc rent dividend on Kntekerbocker Ice ex plains the recent rise in the stock,
 As a producer of rumors Knicker booker Ice has unusual possibilities The company was chartered in Illinoi in 1885 to deal in ice. building materia and merchandise. Authority was als