The daily morning journal and courier., 1906-11-20
STOCK MARKET FEATURES
SPECULATION BROADENS WITH
 HIGHER PRICES,
Also More Activity-LOndOn Buys HeaviIy--st Paul Leads Again in the Rise--The Days Gossip.

HeaviIy--st. Paul Leads Again in the Rise--The Days Gossip. Trading in the stock market yester- day was on an increased scale and the greater activity was not at the expense of prices.
 Operations broadened and the ad- vances were conspicuous.
 St, Paul rose points and Union Pa- ciflc sold above 19O. In addition, how ever, dozen other active issues gain ed from to 3 points, while as many more members of the inactive list rose 2 to points. Nine per cent. caused the H late reaction.
 The average gain of the active stocks in price for the past week is 5 points. The liquidating sales of the afternoon converged on Union Pacific, Reading, the Hill stocks" and St, Paul, in all of which an extremely large business was done on the way down. All of these stocks, except St. Paul, broke be- Il low Saturdays closing.
 The buying is still by the rich, semi investment class who are owners of a great many securities, which they would undoubtedly be glad to distribute if the public took hold of the market as # it did few years ago,
 The ability of the market to absorb % the large offerings of long stock which # came out during the morning, taking advantage of the sharp rise in certain issues, gave a good deal of satisfaction ' The setback under this selling was small.
 I Houses that have uptown branches in the hotel section did heavy busi- ness yesterday. Horse Show week is very often time of active market op- erations,
 Rise in call money to the per cent. & level was foreshadowed by the per cent. rate touched early in the after noon. The advance reflected rather heavy calling by some banks who were large lenders last week. Some sixty and ninety-day money was put out for ~ 61-2 per cent, against per cent. last week, but these Investments were not heavy.
 The market has good support from London. That center bought from 5O,- 900 to 75,00O shares. This is an import ant fact, for, with Europe buying our securities as well as our staples and manufactured articles, the first of the N year would find us with sufficient for eign credit to prevent gold exports un- l less bankers agreed to the movement. % The decline in Smelling was probably due to the reported intention of the ad- minstration to investigate the com- N, pany on the pretext that it might be a \ trust.
 s With stocks so strong during the first < hour and showing an average rise of Al points for the week, the market nat urally had to deal with the holders of shares who wanted immediate profits Realizing in the first hour was very heavy.
 The general information about the street yesterday was that stocks are tc be put much higher this week.
 The rise in New York Central sug- gested desire on the part of the bank. CTS syndicate to dispose of the rights on the new stock to better advantage
 Commission houses held larger number of customers yesterday than fol many weeks. Brokers said that the wealthy public, both in the east ant all through the west, was buying stocks,
 The failure to increase the Calume and Hecla quarterly dividend-the rat, being $20, or the same as last time checked enthusiasm to buy Amalga mated.
 A decidedly good feature of the mar ket was the way that stocks, that hay gone on a higher dividend basis ant have refused to meet the new condi tions improved
 Trading yesterday was the heavies since September 2S when 1,475,SS shares were dealt in.
 No special cause was assigned for tn rise in Atchison. It was considered on of those stocks that had struck bottor :. and selling under its intrinsic value and it was recently selling at llO.
 Standard oil rose some 20 points b midday to 560, which was 30 point above last weeks low price. The trat ing was light.
 St Paul deceived the trading taller who were commenting on it's fiabh tone at the opening, and who predicte lower prices Soon after it started { 1S2 1-2 on a movement that carried it 1SS 1-2.