The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-16
WALL S REE7 TURNS
MORE CONSE RVAT I'VE
"A Reactionary Week Makes for
Cautiousness Big Deals
Pending.
Special to The journal.

from the larger interests made. for the
Inference that for the time being they
are disposed to let matters take their
course, incidentally shaking out the
after their operations. With discount
rates higher abroad. there is likeli- |
hood that the open account in Amerl-
can stocks carried for New York may |
be retransferred to this side.
Wall street was more conservatiyely
ineipsd rates eet hs f tas st sna
heavy gold imports. Call money, it is
true, averaged only about Z per cent,
but the talk of an increase in the Bank
Of England rate to per cent suggested
difficulty in obtaining further. relief IN
England. 1t was announced from Lon
don that $5,000,O0o more Of the yellow
account, which brings the total engage
ments to date up to about $25,000,o0O.
Unless the Bank Of France manifests a
more friendly attitude toward New
York requests for gold, Secretary Shaw
may be compelled to resort to deposits
in the national banks toFpevent check
market liquidation would answer the
same purpose. It is believed that with
the additional engagements of gold,
! call money will soon rule at about . or
6 per cent. If that proves t. be the
fact, it is believed that the stock mar
ket will become considerably more &C.
tive and that further advances in the
active stocks will be recorded. -, :,
It is believed by railroad men that
the Forthcoming annual reports Of GER
| tain large western railroads will dis
close the fact that those corporations
have been purchasers Of Union Hacl-
fic stock They are inclined to believe
! that the St. Paul report will show a
substantial amount Of the stock bought
by that company in spite of the per,
sistent report that control Of st. Paul
has beer. purchased for the Union Paci-
fic and Sou+h.rn Pacific. Some railroad
interests would not be surprised to see
a fair-sized block, Of Union Pacific ! IN
Northern Pacific They are inclined to
believe also that before the present
plans of the Union Pacific are fully car
ried out the stockholders of. that com
pany will be given the right to sub
scribe to a substantial amount OF the
stock on favorable , terms A.: :. - j.
what rate of dividend will be declared
by the Atchison directors next month:
Several weeks ago the information
came from good sources that the most
probable rate would be a semi-annual
dividend of 21a per cent, and an extra
Of u Of l per cent, making virtual 1 a. .
J |
In the meantime marked division OF
} opinion in the board has arisen and
that in: all probability the
rate to be declared will not be
fully decided until after it has been
, discussed at the meeting. Of the full
board next month. Altho it IS rumored
/ that a majority of the directors numerl:
, cally is in favor Of only 5 per cent the
street is inclined to believe that tbs
2 interests in favor of 6 per cent will
rule. They base their opinion largely
. upon the quotations that are being re
corded for the stock on the tape: ia.
l There seems to be genuine confidenct
c will this fall increase the dividend to.
!, per cent. If the lower rate should b.
: general disappointment. inasmuch al
: prominent interests in the street appar
emily have been assured that at leas
e Z per cent would be ordered IN view
:. earnings which are being recorded TO
|, the Pennsylvania system month b,
t month, there is no little disappointing
q over the sluggishness of the stock il
d the market. It is understood that tn
8 prevail ling opinion in Philadelphia wit
n respect to the recent sales e. by the rem en-
$ and Norfolk & Western railway stoc.
3 was chiefly for the purpose of supplyin
It the company with the funds needed t
complete the New York tunnels an
thus obviate the necessity Of calm
upon the stockholders for additions
money next spring. = Philadelphla II II
= Pennsylvania Railroad company wi
z sell, if it has not already done 80,
- part, if not all, Of it's holdings Of Can
~. - bria steel stock. A house which hs
&c close connections with large interest
~ in the United States Steel corporatio
10 10 has been buying the Cambria stool
rs Steel common is still being 4ndustrlou
- ly tipped for an adj vance. It is repor
T. !. ed that. the earnings of the Steel tru!
Is for the current quarter will be $4,000
81 81 900. .s-~.
" It is intimated that New York Ce1
~ trail is to advance sharply on the e.
- cellent earnings which are being repor
a. ed for all of the lines in that syster
ss sistent, that deal had been arrange
r. r. between the Union Pacific and Ne
" York Central, the stock of the latt.
IS company sold as high as 1877 q. Pric,
es approximately as high are now predic
~ ed for the near future.
p It is known that several importal
a railroad deals are well under wa
*: which undoubtedly would have bee
OF pushed >to contamination, except for u
ne certainty with respect to the none
TX market. It is learned that at least OF
ne Of those deals, which involves one
+, the largest independent railroad sy
tie tenn in the west, is now waiting on
al on the money market. If the interes
er. which have those matters in hand +
ar- come convinced that money will be re
us sonably easy little later on, undout
on edly official announcement will be ma
ct within a few weeks of the consumm
ny ton Of the plans which are now bel
49, held in allegiance.
get In usually well-informed circles it
nd stated that Hill interests suggest
ers early passing of the control Of the M
ng souri,, Kansas & Texas railroad. TT
od property, which has been materially i
ect proved in recent years, would be a We
At valuable connection for the Burlingtc
ON permitting thru rates on lumber FRI
les the Pacific coast to the gulf, with
a turn tonnage of cotton. Sooner
est later it is argued that Hill is bound
have gulf outlet.
Stanley Schroff.
err .s5 - Is I.
or Most reports from the country in
70 cate that the scarcity Of cars is beco
The ing an important factor in the no'
or, or. ment Of coarse grains especially co:
nts ShippeTst who have corn sold for 81