The daily morning journal and courier., 1906-03-28
STOCK. MARKET FEATURES
4 DROP IN PRICES FOLLOWED
 BY 4 RISE.
%he Soft Coal Strike Talk vs. Ana cOnda's Increase in Dividend-Read- ing and Copper Were Features Gossip of the Day.

nS anu upper were reatures-
 Gossip of the Day.
 It was 8 variegated market yesterday First, prices fell, owing to the news from the soft-coal conference, and late in the day prices rose.
 After the pressure due to the coal talk abated the decline was arrested and the speculation for time became dull, but a recovery set in, which was stimulated by the declaration of quar- terly dividend by the Anaeonda direc- tors of $1.12A a share, an increase of 25 cents a share over the previous pay ment. As the shares are quarter stock, this makes the dividend rate IS per cent, an increase of 4 per cent. Ana conda quickly rose points.
 London helped the bullishness by buy ing about 0,O00 shares yesterday.
 There is still much nervousness over the coal situation, developments in re- gard to the anthracite position being awaited with more or less anxiety.
 Much of the discussion in Wall street yesterday turned on the question as to whether the prominent men were in the market, or whether the squirt which oc- cured Monday and yesterday morning was "engineered" by board room opera tors. The latter view seemed the more likely one.
 Union Pacific, Erie, the Steel shares, Atchison. Southern Railway, Southern Pacific and Anaconda were among the stocks bought for foreign account
 The firmness of the coalers did much to inspire confidence, and many stuck to the idea that coal labor troubles have ceased to be market factor.
 The result of the Indianapolis confer ence was a big shock to the bulls.
 Sentiment shifted back and forth yes- terday in weathercock fashion.
 It was reported that the Waldorf clique, who were enthusiastic bulls on Monday, had changed to the bear side, after having made very lucrative cleanup" on the rise in prices
 The interesting developments of the day bearing upon the money market outlook included the further break in sterling exchange to level at which gold can in all probability be imported from Germany, an increased drain of cash to the treasury and a slight de- cline in the rates for time loans
 A bullish hope was that, while soft coal strike may come, a break between the hard-coal operators and miners can be prevented.
 Anaconda's increased dividend fell fiat, as might have been expected. A stock cannot be put up from 110 to 300 in a single season, in anticipation of something, and then go up again when such action as yesterdays is taken.
 American Ice rose points more yes- terday, getting up to around 54, the highest point in years.
 The street was we'll imbued with the idea that if there Is a bituminous strike 1t would help the anthracite shares. This probably induced some buying of the latter, though not much.
 More bullish talk was about concern ing the state of the coppee trade, but the bears answered this by saying that soft-coal strike will hurt the metal trade as much as any industry.
 Large selling, of an investment char acter, of stock In the Diamond Match company, of which much is held in this city, depressed the price in the Chicago market Monday from 151 to 126, the lat ter being the low record since 1903. There were suggestions yesterday of support to come, and the stock acted better, 1t was said at local brokerage office. w. M. Graves, manager of the company, 1t is understood will soon is- sue a statement to check the fioode of bearish gossip on the stock, caused, in part by the starting of an opposition company,