The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-01-04
STOCK MARKET FEATURES
Continued from Seventh Page.)

Continued from Seventh Page.)
ing; but the clique in this stock an
sWered the suggestion by bidding the
price up again.
The passive attitude OF the Morgan
interests accounts for the narrow
movement of Steel comman. The street
would like to see a lead, and would fol-
low it up to 50 or better.
Great Northern rights on the curb
declined from 20 to II IA by early in
the afternoon, the selling being due to
the fact that yesterday was the last
day on which they could be traded in
regular way. They will sell for cash"
to-day. Northern Pacific rights held
fairly steady.
Delaware and Hudson responded to
the dividend raise from a to per
cent. basis by dropping points. The
fighting minority thought it should
have been 10 per cent rate Some
good buying Of the convertible has fol-
lowed the increase.
More than one-half the days bust
ness was in three stocks, Union Pacific,
Reading and Amalgamated Copper.
Yesterdays price Of three per cent.
shares, viz, Southern Pacific, Missouri
Pacific and Norfolk and Western, very
/ well establishes the idea Of what the
investor thinks such issues are worth.
They all were quoted at about 81 L.
/ A press dispatch from New York last
evening says: The securities commit
tee of the stock exchange has been in
formed by the Chicago, Milwaukee and
St Paul Railway company that it will
| pay to each stockholder Of record De
cember 10 last, who was entitled to
/ subscription for a fractional share OF
new stock, the premium over par of
such fractional share. The committee
unanimously approved the action OF the
company.
The characteristic brokerage advice
of late centers around the word eau
tion." Spectators ars nervous, and
there has been slow dribbling of long
stocks on the market from the disgust
ed ones.
Nipissing is again on the upward
move.
Dividend increase talk is heard as to
| Amalgamated Copper. Atchison, Balti-
more and Ohio and less strongly re-
garding New York Central. Copper
was also helped yesterday, as recently
by the very firm trade position of the
metal.
The rise in Amalgamated was very
acceptable to those who had bono long"
of it for some time past, many of whom
had lost money In other issues Ana
conda rose points, then fell back
slightly The price Of the metal con-
tinued to advance, though the weak
ness of Rio Tintos in London was re-
garded as somewhat significant, Ac-
ton on the Amalgamated dividend is
not due until the third week of this
month.
The saying that cas- Union Pacific
goes so goes the market" apparently
was borne in mind by many traders,
and they concluded to await develop
ments from the Union Pacific investi-
cation, and from the demands of the
western engineers before doing much
in the market. Union Pacific was
pressed for sale right from the opening,
and it was distinctly weak most of the
day.
Lawson appears to be making good
in his Trinity stock.
The market closed quiet but firm,
with indications Of an upward tenden-
cy, in response to the movement which
ordinarily governs prices at this sea-
son.
New York, Jan. 3.-The National City
bank of New York and ]. Henry Sehro-
der & Co., of London, announced to-
day the purchase of an issue of 100000
pounds sterling, state Of Sac Paulo,
Brazil, per cent exchequer gold
bonds. The loan will be dated Decent
Der l, 1906, and will be redeemable, one
quarter of the loan each year, from
December /, 1908, to December t. 1911.
Of the total issue 100000 pounds is
payable in United States gold dollars
at the fixed rate of exchange of $4S4
per pound sterling, The loan, besides
being direct obligation of the state of
Sac Paulo, is further secured, both as
to principal and interest, by a first
lcharge upon a surtax of three francs
Igold per bag Of coffee exported from
Sac Paulo.