The daily morning journal and courier., 1906-10-13
STOCK MARKET FEATURES
DEALINGS PROFESSIONAL AND
 LACKING INTEREST.

St. Paul Active Most of the Day-CIose
 Irregular and LOM--Break in Copper
 StOcI1s--SteeI Common Reaches New
 Level--Better Bank Statement 1ndi-
 cated
 The market yesterday was profession al and for the most part uninteresting St. Paul was actively dealt in during the day and led the late trading. Prices dropped somewhat at the close with Reading noticeably selling at the low est tgufe of the day. Under this iIl- fluence the market became heavy, dis playing little resistance to the down. ward tendency even in quarters where support was offered earlier in the day. The general list closed irregular, not far from the lowest level of the day.
 The trading during the greater part of the day was on smaller scale than Thursday. Efforts were made to open most active stocks well up. Unit ed States Steel. Union Pacific and Araalgamated Copper were noteworthy in this respect, But the higher level brought many profit taking sales and before half an hour was over the market was losing ground. It was again bid up under the lead of Read ing, Steel, St. Paul, and Smelling, but early in the afternoon was weak, with Union Pacific offered down to below 189 just as was the case In the last hour Thursday. During most of the after. noon the trading was very irregular.
 feature which excited comment was the break in several leading cop per stocks on the curb, as a result of what was termed by some Boston selling" These included Nipissing, Green Copper and Mckinley Darragh. Until this week Boston has been the most enthusiastic buyer of mining stocks. Traders in that city often ''oyerstay" the market That Boston sold heavily was regarded by some as meaning that the copper boom had cul- minated. The price of copper metal, for the first time in several days, was not advanced yesterday. Somebody evidently took losses on the curb min ing shares for Nipissing, which was 25 several days ago, sold down to 21 58 early this afternoon; Mckinley Dar- ragh was ? S-4 as against 7-S, not long ago, and Greene Copper was sev- eral points down.
 How far Amalgamated Copper was affected by the decline in various curb stocks was not entirely clear.
 United States Steel common reached a new record price for this movement, but there was a forced appearance to yesterdays bidding up. There were occasional transactions of 100 or 200 shares at 1-S above a previous sale This often foreshadows a coming set back, though it is not a safe rule to go by Many are getting around to the opinion that Steel common is to be placed on a higher dividend basis at tn emeeting of directors in the last week of this month.
 There was deposited at the Bub-treas ury yesterday $1,O00,000 for transfer to San Francisco for shipment to the Philippines.
 On the basis of the preliminary bank return yesterday the banks have gain ed about $3,69S,0O0 for the week. This increase was wholly accounted for by the heavy gain from the sub-treasury. which paid the banks this week $7,443.- 900, largely on account of new gold re- ceived. It is significant, however, that the banks gained $2,O24,OOO from the treasury on routine operations al9ne. From the interior the drain has been heavier, the banks losing $S,75O00O on direct currency shipments, as against a loss of only $1,S16,OOO last week. The statement, taken as a whole, should be a fairly strong one, with moderate addition to surplus, barring some unex- pected development in the loan item.
 Inasmuch as the banks showed last Saturday cash loss of $3,797,O00 when the known movements of money in- dicated S6,O0OOOO gain for the week, to- days return ought to reflect a consid- erable addition to the cash item.
 London traded both ways, but prob- ably sold 10000 shares on balance, in- cluding the Pacific issues and Pennsyl- vania. Foreign traders continued to buy Steel. Most issues were firm in London before New York opening.