The daily morning journal and courier., 1906-10-19
STOCK MARKET FEATURES
COPPER DIVIDEND THE NEVIS
 SPECIALITY.

Did Not Result in Very Great Stir, How
 ever--AmalgamatedG Gained 21a Points
 but Lost Part of It--Trading Very
 Dull-Time Money Back to 6 Per
 Cent.--Sterling Declines Abruptly
 Possibility Discussed of Importation
 of Gold Again--Bonds Firm.
 The announcement of a quarterly regular dividend of 1-2 per cent plus a 1-2 per cent. extra, making an ad- vance of 1-4 per cent. over last quarter by Amalgamated Copper was the news feature of the market yesterday, yet as an indictment to general advance it fell rather flat. Prices were generally lower until the dividend was announce ed, and when late in the day the new rate became known Amalgamated rose to 117 l-2 contrasted with a low of Ills for the forenoon yet within the hour more than a point of this gain had been lost. The general market advanced slightly on the news, then dropped back and closed unsettled.
 Trading in stocks early in the after noon became very dull and at times the tape almost came to a halt. As has sometimes been the case in the past, where important dividends were to be acted on, the speculative element, and others, for that matter, did not care to do anything until they found out what action was to be taken on the Amalga- mated Copper dividend. Both bulls" and bears" were equally timld. The sales to 1 p. m, were only a little over S25,00O shares or a third less than on Wednesday.
 In the money market time money took sudden rise up to 6 per cent. again. Tn London exchange the down. ward tendency continued an abrupt drop of nearly 1-2 per cent, taking place yesterday, making total drop of nearly two cents in the pound from last Saturdays high, It might be con- tended that, so far at least as our money market is concerned, the effect of the Bank of England's obstructive and protective measures has passed by Gold was engaged for New York last week in London, when our exchange on ehat city stood at least as high as it Btadns now. With call money rising again on Wall street and with New York exchange at Chicago down to 30 discount. as against only or 10 dis count hen the gold engagements ceas- ed, many things may happen. It is clearly enough understood, however, that further large drain on the Lon- don gold supply, for New York city must result In other and still more drastic protective measures by the Bank of England. The banks return yesterday though better than that of week ago was very weak.
 Boston and Montana's quarterly div idend remained unchanged at $2 regu- lar and $10 evtra. This was regarded with some significance, though 1t was alleged to be due to the fact that the company Is enlarging it's plant, and de- sires to reserve a part of its earnings for this purpose
 Quite a number of stocks sold under previous low levels Atchson went be- low 10S for the first time since talk of an increased dividend began. Southern Pacific sold below 94, Missouri Pacific under 93 and St. Paul below 176. This slow sagging tendency indicates moder- ate liquidation and lack of support.
 Bonds were fairly active and firm. The active features were Japanese, Atchison convertibles, Brooklyn Rapid Transit As, Distillers Securities 5s, In- terboroughI Metropolitan 1 1-2s, Penn evlva nia cOnVArtihleS and ITnltad Statas Steel 5s.