The San Francisco call., 1906-11-28
New York stock Market

NEW YORK. Nov 2T-The stock market gave
substantial evidence OF strength today, the
preference OF buyers turning more to the high
priced dividend-paying stocks. The rumors OF
secumuiatlons OF missouri, kansas 1s, snu ,i
- -,os@ ,,ota1r fsctor in the Greater strength
Of the market the Union Pacific annual re
port. The accuracy Of the forecast OF the main
facts OF the report made it evident that access
operating IN the stock. The limitation OF the
sctual income applicable to dividends both from
operation and from other income lncludlng me
Southern Pacihcs TO below 10 per cent, con-
rrasted with recent claims thar showing OF at
least 20 per cent would be made Selling OF the
stock this week was based on fear that IN
loading would follow the publication OF the
showing. The support accorded the stock today
consequently found snort interest," uncovered
and this helped 10 advance the price. An i'm
portRnt feature OF tie report was the light IL
threw upon the remaining holdings Of Northern
Pacific and Great Northern preferred IN tue
oregon Short Line treasury. differences drawn
from the preceding annual report Of the amount
Of these holdings which had already been mar
keted seemed 70 be dlsprOFed by this years
report. which showed that 100000 shares OF
NorThern Securities holdings were exchanged
after the compilation Of the former report The
amount OF new Great Northern preferred stock
subscribed for under the Oner TO stockholders
was equal 10 the full proportion Of the entire
holding acquired from the distribution OF North
ern Securities assets. Account was also taken
of the fact that only that OF the yearly dividend
on Southern Pacific included in the state
ment OF the other income. The retirement Of the
convertible bonds releases large amount OF
assets TO the treasury. and income from the pro-
ceeds OF securities holdings during the year
TO be reckOned in addition. The buying Of Union
Pacific impressive scale and SYM
pathetic effect produced the whole
ket. Evidence Of support IN the outside market
for the Great Northern ore rights removed one
cause Of yesterdays heavy tone. The approac
of the Thanksgiving holiday. TO be closely fol-
lowed by the December ] payments. had some
repressive effect the market. December pay
ments are unusually large this year, estimates
Of dividend and interest payments running as
high as SO, O0O. 600. From the 18th TO the 26th
Of December must be paid subscriptions TO the
New York Central stock, which viii call for
nearly $50, ,OO0. 600. the rights OF subscription
expiring Friday of this week. The progress
OF the London stock market settlement dlscloses
little relaxation IN the carrying over rates
charged at the last settlement. Some money
Is being Withdrawn from this market for Canada
vel for San Francisco. The deposits for
the latter purpose are affecting the showing II
sub-tFeasury opera tions which have taken 81
1ss 900 from the banks since the last bank state
ment- There realizing on the DAYS
advance, but the closing tone generally firm.
Bonds were steady Total sales, par value,
United States Is. coupon the Ss and old IS.
registered, declined 4 and the old IS q per
cent call.
New York Stock List
z r. Hutton q Co. 40 California street,
members OF the New York Stock Exchange fur
nish the following list Of bond and stock sales
yesterday