The Washington herald., 1906-12-04
nuring Is Quite GeneraI.

Huying Is Quite General.
rHa rayiug OF stocAs to-day for home
oyan. was. as has been stated. general
throughout the security list, but it con
rersed especially upon the Amalgamated
copper, Anaconda, Chesa pea6e and Ohio
ET-, New York Central Reading. and
1.On Pacific issues.
BeHef that the prosperity Of the coun-
tiy would result IN further increases Of
dividends upon the stocks OF all the cor
porations engaged in this business was
manifestly responsible for the advance in
the copper shares.
The extreme rise at one time of 80.
points in Chesapeake and Ohio stock was
accompanied by rumors Of an increase of
dividend distribution: but the stories were
received, naturally, with incredulity in
yell-inlormed quarters in the financial
district where an opportunity was afford
ed for perusing a circular recently ad-
dressed by the Chesapeake and Ohio man
agement 10 various stockholding interests
having for its subject the dividend ques-
zion and setting forth the financial posi-
tion of the company as one that is abso-
lCtely precluded any larger distribution
than that now made.
Shortly before the close of business.
however, the apparent cause for the ad-
vance in the stock was disclosed in the
announcement that the Pennsylvania had
sold the 156.000 shares of Chesapeake and
Ohio stock owned by it TO a prominent
local banking firm. A current suppositiOn
was that the stock had been purchased
for the account of the Cleveland Cincin-
natl. Chicago and St Louis. or big
Four Railroad Company, but it was Off
cially denied that the purchase had been
made for this interest.
Comparatively large dealings in the
Colorado and Southern secondhand stock
to-day were accompanied by the declara-
ton that the stock viii soon begin to pay
dividends at the rate of per cent. The
c.osely-held Virginia Iron. Coal. and Coke
stock made a further rise of 81 points
and decided strength was shown, not only
by the Standard Railway shares, but by
many Industrial issues
II there were any views in Wall street
to-day regarding the Presidents message
that viii be sent TO Congress tomorrow,
il was that II viii be helpful rather a
harmful document.
Call Money at p Per Cent.
The opening price for call money on the
stock exchange was Z per cent. and al
though at one time a lending rate of per
cent was established by an inconsiderable
quantity of money lent at this figure by a
single national banking institution, the
tendency Of call funds through the day
was steadily upward p per cent being
paid for its use just before the close Of
business. Thirty per cent was bid for call
money after the end Of the stock exchange
session.
Accompanying this, too, was a decided
hrmness not only in time rates, but in the
price of commercial paper. the bills of
merchants of high financial standing sell
ing at q figure which made investments
In them even more inviting than in call
money loans at to-day's quotation.
Nipissing mines. in the outside market.
broke at the closing prices on Saturday
of 1875 to &c. rallied. but again sold lower
than ever closing a little above the low
est Dealings in the stock were the
largest ever known in any one day in any
Security on the Wall street curb; and in
spite OF the statement of various parties
concerned. mystery as TO the exact cause
for the recent developments in the COM
pany's affairs was still as dark as it was
several days ago.