The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-12-04

MUCH STRENGTH DESPITE 20
PER CENT. MONEY.

NlplsslnS-NOH' Otss AhcEedseS wages J.
of All Its Employes-Gossip of the
Day.
Call loans went as high as twenty
five per cent. again yesterday, and both
time and call money quotations indi-
Gated scarcity Of funds, but stocks
were quite strong nearly all day, and
the big men appeared to ignore these
untoward events,
To-day's presidential message, att
which Wall Street pretends to be quak-
Ing, may be also overlooked; but pres
idents' messages rarely terrify except
when cause for terror is being sought
Great Northern stock rose 2 ~
points, Anaconda 6, Union Pacific and
Amalgamated Copper IA each, New.
York Central 2, Reading 1-2, Pennsyl-.
vania l, and SO forth. For these adj
vances the explanation was familiar.
More deals" are coming, and so is
January, when everyone will have
money enough with which to speculate
The market ended with some conees-
sions from best prices, but with re-
newed strength at the very last
The Indifference regarding the money
situation was, it was said because this
inimical state of affairs was regarded
as only transitory, while continued ease
in rates after the first of the year was
conceded. This is a matter of opinion,
and depends somewhat on whether one
is borrowing or lending. There is GER
tainly nothing to suggest easy money in
the next five or six weeks, and much
to indicate that 1t will be very tight
before Christmas.
A decidedly favorable factor was the
cheerful sentiment expressed by Lon
don. That market bought 10000 shares
in addition to about 100000 shares talk
en- last week. The Bank of England
gained nearly $500 900 in gold from the
open market and the Bank of France.
New York Centraps further rise at
tracted considerable attention. For
some time it had been neglected, and it
had failed by great deal to keep pace
with the rise in standard stocks. APP
parently, a clicque was working in it
yesterday One explanation was that it
desires to make the new issue of stock
more popular and dispose Of its hold
ings.
Nipissing sold at a market value of
$2OOO00 900 yesterday, compared with
value Of $40,000,0O0 the day the Guggen-
helms exercised their option. Still it
stood 1926 per cent. above the par valu-
alton. The stock is mostly all held on
J cash basis.
Theactivity of some Of the industrials
and hitherto inactive railroad stocks
attracted notice. Canadian Pacific, ON
\ fario and Western Chesapeake, North
/ American, Anaconda, Pittsburg Coal,
;and various others received more than
/. usual attention.
4 A scrambleto sell stock of the Nipis-
Sing Mines company took place on the
Curb stock market yesterday as a re-
tsult Of the announcement last Satur-
| day that the Guggenheim interests de-
clined to exercise an option on 100000
i shares of the stock at $25 per share.
After closing at 10 rs on Saturday the
stock opened yesterday at 10 and within
few minutes dropped to Is. The stock
II
10000 shares had changed hands mostly
4 between IS and 16 there was check to
n the liquidation, and two hours after
e the opening the price rallied and went
s to IS. The trading was extremely ac-
& tive and excited, and many members Of
8 the stock exchange deserted their trad
ing posts to witness the excitement
& which ruled the market in the street,
81 wherethe brokers iostled each other in
a heavy snow storm. During the height
& of the excitement there was some times
a difference Of 1 to 1 IL per cent. be-
tween the quotations in different parts
Of the market,
Until about 2 o'clock the price was
f held in the neighborhood of IS, but at
Il that hour there was another sharp
s break, and the price went as low as
4 Is rs before the decline was checked.
{. AT the close Nipissing was quoted at
d 16 is 1t was estimated thai $4,000
shares were traded in during she day.
In the last hour, while call money
was lending between 16 and 25 pei
cent, large bank loaned large
amounts at 6 per cent. These offerings
i were quickly absorbed, however, hav-
ing little effect upon the market as a
whole.
The October statements o. the Erie
4 and louisville & Nashville show quite
different results Erie gained 1864 46S
gross, which is big improvement ovei
recent months, and saved $311649 II
u August and September there were de-
creases. Louisville increased $500, 06;
gross, but only S118,799 net.
The fact that the market yesterda!
offered 10 per cent for sixty da!
loans-which carries the rate over til
February-also had decided bearing up
on the Wall street loans by out-of-towl
banks.
New York, Dec. 9,-Announcemen
was made to-day by the Consolidate
Gas Co. of this city that two weeks agt
it had increased the wages Of all cf it
employees who were then in receipt o
salaries of $1,000 or less. The total in
crease will amount TO ten per cent.
"Ain't it funny" remarked Jimmy
"dat Wen yer don't want a ting da
vet ulster want, yer kin have it all Yer
self" wat are yer tal5in 'bou
now?" asked Tommy. why, I wen
past de bah grounds ter-day and der
wuz dat hole in de fence VT we a