The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-02
MINNEAPOLIS OPTIONS

strong evidence that these interests
have been most anxious to bring about
higher prices for the purpose of Shout
dering the public with their holdings.
1t also may be said that the methods
employed by certain interests to at
tract public dealings in stocks have
tics than with the ideas of legitimate
speculation. Criticism of this sort, how
ever, counts for little with the people
who are behind the present market,
while the suggestion that the. big men
are quietly disposing of their securi-
ties in response to the public demand,
and that this movement soon may be
followed by collapse, in no way in
duces the enthusiastic commission
house operator to exercise caution in
dealings at the present range of prices.
The behavior Of the stock market
upon the receipt Of news that Phila-,
delphia real estate and trust company
had closed its doors, was not such as
genuineness of the present advancing
movement. Underneath the surface of
what ostensibly has been a strong,
broad market, there have all along
lurked serious suspicious that the
manipulators who have made the mar
ket could unmake it without mo-
ment's notice, leaving the outside pub
lie to bear the brunt. The underlying
nervousness and distrust were sharply
brought to the surface on the announce
ment of the Philadelphia failure. The
failure is, perhaps, less serious in itself
than what it portends, since it is
automatic that cycles Of prosperity
have always reached their elimination
in real estate booms, the collapse of
les. The way in which the market re-
celved the news was ominous, and in
dicates what may happen at any time,
should those in control see fit to with
draw support. The drop in Amalga-
mated Copper, in view of the bullish
news that had previously been given
out, was considered indicative of the
old sort of manipulation.
The sharp rise in Canadian Pacific
is due to the formation Of an infuen-
tial pool of New Workers and Canad-
ians. Sir William Van Horne threw
down the gauntlet to Mr.. Hill the other
day, and his fearless attitude has not
tended to shake confidence in the north
ern roads. Mr.. Hill has not yet come
forward with any statement as to what
he intends to do. The street would
follow with absorbing interest a contest
between these two railroad giants.
Among the bull arguments held in
reserve are the following: An increase
in the dividend on Amalgamated Cop
per from to per cent, Atchison to
per cent, Chesapeake & Ohio to per
cent, Norfolk & Western to per cent,
Anaconda to 80 per cent, Louisville &
Nashville to per cent, Pennsylvania
to 7 per cent, United States Steel COM
mon to per cent, and possibly the
Inauguration Of dividends on several of
the railway equipment stocks, such as
American Car and Foundry and Pressed
Steel Car. It is considered as alto
gether probable also that at some time
in the future Brooklyn Rapid Transit
may be laced upon per cent divi-
dend basis. These rumors of "deals'
and Emelons' to be cut for the benefit
of stockholders play no small part in
the ammunition with which the bull
crowd appears to be 'plentifully pro-
vided.
There is talk that New York Central
will soon announce some new financial
plans. Stanley Schroff