The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-02
HILLS PLANS STILL
REMAIN UNKNOWN
Money Uncertainty Disturbs Wall
Street-Stock Market
Gossip.
Special to Tho Journal.

0peclal TO Inc journal
:. New York, Sept: If no special
the bulls in the stock market believe
that speculation for some little time to
come will be profitable and that the
largest returns will be made on the long
side: Such stocks as Union Pacific, st.
Paul, Atchison and Southern Pacific,
which have already had large advances,
are expected to reach still higher fig
ures. 1t is understood that an opera
tor who in years past has been one of
the most powerful factors in the mar
ket, is favorably disposed toward the
present upward movement and believes
that it will be carried further He
looks with especial favor upon Atchi-
SON and believes that the earnings fully
Justify an increase in the dividend on
the common stock. He believes also
that. soon the lower-priced issues will
receive considerably more attention
than has been accorded them so far.
Apparently the movement in United
States Steel common is on the largest
scale ever undertaken in that security
or any other industrial stock. It is
claimed that there is still large stub
born short interest in the preferred, and
that it will soon become proportionately
as active as the common. From this
time on the copper stocks, notably the
Amalgamated and Anaconda, are ex-
pected to occupy a position in the trad
ing. almost as prominent as that Of
United States Steel common. Altho
Amalgamated has had big advance
from the low prices, some interests are
inclined to advise their clients to buy
the stock on every small recession until
1t reaches several points above present
prices. No one seems to have changed
his opinion regarding the belief gem
orally entertained that both Anac onda
and Amalgamated will receive higher
dividends at the next period. =
What James j. Hill and his associates
purpose to do for the Great Northern
stockholders remains secret nearly as
well guarded as was the increase in the
Union Pacific dividend and the, declara-
ton of a per cent dividend on South
ern Pacific common. Railroad men who
believe that they are in pretty close
touch with Mr.. Hill say that: while
they do not know his plans in detail,
near future an important official an
nouncement with respect to the Great
Northern will be made.
Interests in close touch with promi-
nent men in the Pennsylvania Railroad
company. confidently expect that a
higher dividend will be paid. They in
innate, however, that the directors will
annual rate as Union Pacific and South
ern Pacific directors recently did. On
the contrary, these interests say that
the larger distribution on Pennsylvania
stock will probably be made in the
form OF an extra dividend. 1t seems to
have been generally believed that if
more than the 3 per cent semi-annual
dividend rate is declared, the extra
would be one-half Of l per cent for
the six months. It is now intimated
by men in position to be we'll in
formed that the extra distribution is
more likely to be l per cent for the
year.
Some prominent men in the street,
who have been among the most i'm
portant factors in previous bull mar
kets, and who are still out of town,
have not entered into the present move
ment. They are expected to return
soon. and it is believed that they will
participate freely and that the market
will be materially strengthened by their
operations. Wall street is imbued with
the belief that speculation in securi-
ties is being encouraged by the most
prominent banking and railroad inter-
ests, and in view of recent develop
ments it must be said that there is