The daily morning journal and courier., 1906-11-01
SlUUk MARKET FEATURES
PRICES SAGGED AND THE CLOSE
 WEAK,

DuIIness Again a Striking Feature
 Call Money Takes Jump to SM Per
 Cent-Lawson Appears Again--New
 York CentraI--Nipissing- Fi-
 nances Better-Thc Days Gossip.
 Yesterdays stock market closed weak.
 The day was a dull one and little in- terest was manifested.
 The total transactions were 450O00 shares, a little better than the otal of the day before, butthe trading was at the expense of values.
 One cause of the weakness was the fact that the United States Steel com pany did not see fit to raise the diVi- dend; also because of the disparity be- tween actual net earnings for the quar- ter and the popular estimates. Another cause was the rise in call money to s 1-2 per cent, and rate of 1-2 and ' per cent on time, and third cause was the growing unrest over the elections in New York state, and in sections where close congressional contests will occur.
 A St. Petersburg dispatch last night says; The lack of disorder in Russia on Tuesday and favorable conditions abroad resulted in a sensational rise of government securities on the bourse to-day, Imperial As gained ? 3-4 points, going up to 75 1-2, the highest since May il, and imperial 5s reached S6, the maximum since July Il. Bankers ex- pect that 5s will soon pass the price of omission if the country remains tran quill
 The influence of the Steel report was first felt in London, and that market sold the stock freely. Considerable in terest will attend London's opening to- day after the slump at the close yes- terday of stocks here.
 Pennsylvania was weak, as also was New York Central. The latter was weak, owing, it was said, to the in- crease of it's capital stock, but Penn sylvania has gone up over twenty points since 1t took on it's big new load of capital stock and bonds.
 An interesting feature of the great market report is an advance in the op- erating. ratio above 50, due to increased cost of labor and materials.
 New Haven road stock sold at 19S 12 in Boston yesterday.
 Besides pessimistic election talk, the bears made use of the furry in call money, which, however, was natur- al month end development.
 The outside public was not in the market, and in this sense there was but little selling pressure. There appeared to be good buying orders in the market a point or two below yesterdays clos ing figures.
 All the Mexican group were strong. London was said to be buying them, but selling the rest of the list. Gates was buying
 Nipissing was again the feature of 3 the curb, 60,000 shares being dealt in. After selling up to 33 3-4, the stock re- acted to 31 3-4, and closed at B 3-S, gain of 1-S over yesterdays close.
 Variegated opinions continue to be held as to an increased Pennsylvania dividend. To-day the directors take ac- tion,
 The Boston market was active in copper specialties yesterday. North Butte was the leader, but other issues were active, and the general list was strong
 The steady liquidation of New York Central brought the stock to the low est price in two years. It is off twenty points from the quotation made just be- fore the last issue of new capital was announced, and 120 is predicted by some for 1t. There was talk of a strike on the road also, but the officials thought the annual adjustment would fix things all right.
 American Ice at midday had lost prac- tically all of the point gain of Tues day, which would seem to indicate that yesterdays spurt was q drive at the shorts.
 1t was reported in Wall street yes- terday that the Guggenheim Expora- ton company will hold the Nipissing mines stock that the Guggenheim in- terests have purchased. These inter- ests, with allied interests, now control fully two-thirds of the stock.
 New York banks yesterday deposit ed $2OOOOO with the sub-treasury for transfer to New Orleans
 Commission houses are advising their customers that there is no induoement to buy stocks pending the election, eX- cept for quick, terms. The short inter- est is larger and the traders, seeing no business, except a sagging market, and sell for "a gamble This might bring about sudden and sharp run upon covering before next Tuesday,