The daily morning journal and courier., 1906-02-15
 fES1ERDAY;S STOCK MARKE ET.
Speculative Interest Declines to About
 Last Weeks Averages

Last Weeks Averages
 New York, Feb. 14.-Speculative in-
 terest in the stock market declined
 again to-day to about last weeks aver
 age The movement was exceedingly
 sluggish except in few special stocks
 and in them 1t was less pronounced
 than yesterday. The days trading of-
 1ered tame conclusion to the long per-
 Tod of surmise over the Union Pacific
 dividend which was settled to-day by the placing of the stock on a regular 6
 per cent. basis. The trading in that
 stock for the day was rather smaller
 than the recent average and t3e hesi-
 tatlng vibration in the price extended
 10 only about point above or below
 last nights level. The moderate move
 ment in the stock was on the setting
 at rest of rumors was suggestive of a
 pretty thorough clearing up of specula-
 i've commitments. The action of the
 copper stock on the formal announce
 ment of the transfer of control of the Heinze properties and the resulting set tlement of litigation also offered abun- dant suggestions to the speculative mind that themystery being cleared fro mthe stock deprives 1t of much of It's motive power in the market. Amal- gamated Copper and Anaconda clearly showed the effects of realizing through out the day; although occasional SUD- port made their movement irregular The Hill group had the continued ben eft of a mystery still on and the smelt- Ing and lead stocks also came under the revived influence of the possible wholesale merger of copper and smelt- Ing companies which it was hoped was to be included in the official announce ment of the Montana settlement. These movements were of small effect, how ever, on the general market. which backed and filled within a narrow range during the day The heavy new issues of bonds were continued sub- Ject of discussion and some disparity or opinion was disclosed as to the de- | auction to be drawn from this prorni- I nent development in the situation As | an evidence of the confidence of the most important financial interests botb Tn the outlook for general conditions and the further resources of the money market to absorb these large issues II was urged that the offerings at this tune were encouraging features. Spec ulative discussion dwelt upon the i'm. portance of supporting measures in the 'tock market to make a success of the of the new bonds. Tha money market, however showed clear " enough the effect of the large re- lulrements thus to be met The rate of -lme loans for ali periods up to six months was fairly established on a E per cent. basis and higher rates were lsked for shoht time loans. Call loan 'ates also were higher, ruling above 4 ger cent. throughout the day and get Ing as high as per cent.
 The effects of the Union Pacific divi- lend and the copper settlement caused m apprehension that various other leals have been discounted already in he movement of prices. There was uneasiness also over the ad- ance in money rates. The merket ! losed under pressure and at the lowest ' f the day, \ Bonds were heavy Total sales nar J alue, $2,735, ,00O. 'i ', United States bonds were all un- j hanged on all.