The daily morning journal and courier., 1906-10-04

Increase of but One-HnlI oI one Ter
 Cent. Where One Per Cent. Was Dis-
 standardization Consequently Fell
 Off-Market Weakened Colorado
 Southern Makes New Mark of 4O-
 Market rofessiOnal--SOuthern Pacific
 Reaches %.
 Consequent upon the announcement of an increase of one-half of one per cent in the seni-annual dividend of the Atchison road, instead of at least one per cent. which had been figured on, the market weakened and became de- jected, Atchison itself dropping off 1 7-S points. Union Pacific's August in crease of two per cent. had led to a discounting of a higher increase for Atchison than that actually declared. Atchison opened at lOS to 1OS 3-S against a Tuesday closing figure of lO7 IA, sales amounting to 1S7 1-4, but the dividend announcement caused the Yio- lent break to a closing of 10S 5-S.
 While Atchison was breaking most other issues were fairly steady, though some of them momentarily sympathized with Atchison. Southern Pacific Union Pacific, and Canadian Pacific were run up at midday, and helped to sustain prices. Eearly in the afternoon the trading was quieter and without fea- ture Atchison led in point of activity yesterday, sales of it amounting to l56- 900 shares during the first three hours, out of total for that interval of Sl0,- 000
 A sharp rise in Canadian Pacific from 1SO IA to 1SS 5-S at midday was due to the news that the directors at midday had approved of the declaration of an extra dividend of one per cent. on the common stock out of land sales. This has been expected for very long time.
 Colorado Southern rose 2 3-S points, to 40, new high record, by midday. The last record figure was 3S 7-S, in August. The advance was associated with various reports regarding a con- templated change in the management.
 The professional character of the market was well Illustrated by the stocks which were taken up and by the balancing of operations. Some new issues, such as the Gould shares, Colo rado Fuel, Rock Island, Colorado Southern, and Canadian Pacific, were usedto help sustain prices, though there was no news connected with any of them except Canadian Pacific.
 The banks gained upon their transac- tions with the treasury yesterday ow- ing to advances on Tuesdays gold en- agreements, and the shifting to New York of some of the government funds deposited in the west.
 Although local institutions were only allotted sS,0O0,O0O of the $26 900 re- leased under last weeks treasury or der, there were indications yesterday that they would receive larger amount by direct deposit, which with transfers by the out-of-town banks themselves would aggregate a consid- erable sum- The banks received yester. day $1,SOO,O0O from San Francisco re- mittances through the sub-treasury, which may represent the initial pay ment on account Of the Australian gold imports.
 Steel common sold at 47 S-4 equallinG its high price for the year.
 Southern Pacific advanced to 95 and traders began to predict par for 1t 1T few days, saying that If Atchlson, a five per cent stock, was worth 1O4 Southern Pacific was certainly wortt as much, and much fore with its pros peotive rights.
 London sold moderately in New Yorl on balance, the purchases being trifing Altogether the transactions for foreigr account were not probably over $2O,00C shares, Among the sales were the Pa cific issues, notably Atchison. Amerl- can stocks were bid up on the other side before the local opening, apparent | ly to make basis for sales in New York;