The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-01-03
STOCK MARKET FEATURES
Continued from Eleventh Page.)

Continued from Eleventh Page.)
made them Il and 10. Many were 10
per cent. and some Is.
The money market did not develop
as great stringency as had been hoK-
ed for by those who recalled the 60 per
cent call rate of year ago Zester-
day.
Although call money reacted to
per cent, in the last half hour the
stock market was very irregular and
many issues, including the grangers,
closed lower.
1t was reported yesterday that GER
tain of the shorts in American Ice set
tied privately all the way from 500 to
sos a share. The highest price touch
ed by the stock on the exchange was
Sc.
The dragging tendency of Union Pa
cific and Southern Pacific was attrib-
uted to the interstate commerce inyes-
| tigat!on.
Atchison was one Of the most active
! of the railroad list yesterday and a
pool was busy with it. The directors
WGr6 III SESSION., anu IL was luiifSlS ~
would do something or other
Very positive strength was shown
by the Hill shares with gains of 7 to
10 points from Mondays lowest.
Great Northern Ore was also much
higher The rights do not fare so well
The election of James McCrea to be
president of Pennsylvania gave genef-
p1y at ri
cles. The large holdings of Henry G..
Frick in Pennsylvania stock, by some
estimated at 100000 shares, and this
financier's prominence in recent Read
ing stock market operations, according
to the current view, meant greater ac-
tivity for Pennsylvania.
American shares were conspicuously
strong abroad. The advances We're
largely in issues that have continen-
tai f5llowing, such as Baltimore and
Ohio Canadian Pacific and Atchison.
About the only influence that tends
to keep stocks strong is the universal
belief in a January rise. There are
plenty of indications that the ruling
powers are planning an early demon
str2tisn
Copper stocks continued firm during
most of the day, helped by the con
tinued rise in the price Of. the metal,
Amalgamated was one of the most
popular, but traders were disappointed
that it did not rise more rapidly. Ap-
arently insiders were holding it down
The rise in Baltimore and Ohio re-
hected the London advance. This in
turn was a response to Berlin's de-
mand for the stock. Since the Speyers
had it listed in Berlin and Frankfort
several years ago the German invest
ors who follow American affairs have
been very favorable to Baltimore ant
Ohio They have seen the shares g.
from to a 6 PET. cent. dividend basis
It is almost impossible to get them tc
sell
Transactions to noon yesterda.
were smaller than on Monday being
less than 100000 hares,
While there may be little buying o.
stocks there is just as little real sell,
ing Of them Most holders are looking
for better prices later on.
Ia noticeable thing was the rise II
sterling exchange of ga cents. 1t was
2 cents in the pound above last weeks
low level. 1t means no geld will bt
drawn from the other side while tht
Bank Of England rate is at per cent
Reports We're current that there wal
a large return flow Of money from The
interior But it did not show in the
days loaning rates.
Reading is not likely to be the trad
ing stock in 1907 that it was In 1906
1t has lost prestige since its failure t
, increase the dividend.
Directors of the Delaware and Hud
son company Yesterday declared ;
dividend of per cent for the yea
1907 payable in four quarterly install
ments. This dividend compares witt
per cent declared annually since
1901, prior to which the annual rat,
was 5 per cent, The stock rose
points to 227 on the announcement, bu
sold off with the rest of the market a
the close
Caution seems to be the keynote o
the 1907 sentiment. 1t has been ex
pressed in nearly all of the interview
of railroad men, bankers and mer
chants published In the annual fnan