The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-05-11
STOCK MARKET FEATURES
EARLY WEAKNESS AGAIN FOL
LOWED BY STRENGTH.

Some Profit TAKEN and Some Accu-
mulation--The Public Nibbling-
Satisfactory Crop RepOrt-Leading
Features in Railroad StOcks-The
Cotton Market-Strength of Shannon
Copper Stoclz--GOssip.
Yesterdays stock market was char
acterized by weakness early IN the
session, followed BY strength. The
closing waststrong.
Notwithstanding the Importance OF
the Importance of the government crop
report and the easier monetary stu
alton, it did not appear very clearly
that these matters were actual influ-
ences in yesterdays stock market, nor
was much attention paid to yesterdays
accomplishments in the United states
senate in the various amendments TO
tn erailway regulation measure, in
Guiding the one bearing most directly
upon the operation of the coal ROADS.
The volume of bunsiness was main
tanned upon large scale, and active
dealings were conducted in all quar-
tiers of the market, Withsthe local trac-
tion issues furnishing a larger proper
case for several weeks past.
The new Electromagnetic opolltan
shares were notably strong on expecta-
tions that dividend paments would
soon be instituted upon the preferred.
1t was apparent that a god deal OF
profit-taking was in progress. Much
the same thing has been seen every
afternoon during the present week
While other stocks were receding, a
few, like st. Paul, were run up a lit
IL ~ he =
Leading features of the railway list
were New York Central, Pennsylvania,
Atchison and Union Pacific. Character
istic advances were scored by Northern
Pacific and Great Northern preferred,
and sharp gains were noted in some
of the so-called specialties.
One banking interest received word
yesterday that San Francisco banks
would not resume business until June
The bond market was much better.
Two million dollars were paid back
to the sub-treasury yesterday by the
banks for advances made on gold I'M
ports.
company at meeting held yesterday
declared quarterly dividend of l per
cent. This is a reduction OF per cent.
compared with previous dividends this
year, declared In February.
Though still somewhat backward,
outsiders are beginning to take more
interest in the game. 1t is no trouble
at all to get rid of the actual cot
ton, At the present rate, that II Is
being absorbed 1t will not be long be-
fore the difficulty will be in supplying
the demand.
The Hartman interview was used as
a bull argument for putting up the
ngers-partcularly the Hartman
issues. Yet many hau their misgiVings
about the propriety of buying on such
utterances, remembering good selling
of stocks Just after such occasions.
transactions in bonds included $780,
600 Marine 41ss at 7Sk, $4,000 Della
ware and Hudson at 107M, $25, 00(
WESTINGHOUSE 5s at 97%, and $4,000
American Writing Paper 5s at "a,
The putting up of granger stocks ar
a good government crop showing is ar
old device. though it is hardly to be
supposed that many will listen to this
argument so early in the year. Com
pared with an average year, the win
Ter wheat showing was considered ex'
cellent, though it lacked Ia per cent
Of the condition reported a year ago
There has been god improvement dur
ing the last month.
Much of the recent buying of the
Hill stocks has been for foreign ac
count. This, it was alleged, had st
reduced the floating supply as to max
sharj advances, like those scored yes
terday. a matter of great ease. Thu
same foreign buying argument wa
used about these stocks just before tn
recent break.