The daily morning journal and courier., 1907-02-12
STOCK MARKET FEATURES
HOPE OF BULLS REVIVE AND
 PRICES SHOT UPWARD,


 Secretary Shaw's Action Helped senti-
 ment-AnacOnda Led With Ten Point
 Rise-Sugar Stock Tallk--An OversoId
 Market Helps Bulls Also--No Gold
 Was Engaged From the Other Side
 Peoples Gas-CalI Money Up Again
 The Days Gossip.
 The stock market yesterday had a strong undertone and the bulls took courage and bid up prices, encouraged by Secretary shaw's action in bidding for the per cent. bonds of 1907. Early in the day the bears made a drive at the market, but got left, so some shorts rushed to cover.
 The announcement by Secretary Shaw was that he would buy, at 1O1A $25,- OOOOO0 of the per cent. government bonds maturing next July
 It is thought, however, that no large amount of bonds will be dislodged by the secretary's offer, as higher prices will be looked for by the holders.
 Another opinion is that although the price named by the secretary is scarce ly one-half per cent. above the treas ury's bid of December 10, it will prob- ably result in releasing s1O,0OO,OOO or $l5,OOO,0O0 that is now locked up in the treasury.
 The advance in Baltimore and Ohio across 117 was not only in response to the general strength but for the divi- dend of 3 per cent, which comes off to- morrow.
 The better news led to such advances from Saturdays closing prices as 23-4 points in Amalgamated, 91-2 in Ana conda, 1-2 in Sugar, in St. Paul, IA in Pennsylvania 1 3-4 in Reading, 5-S in Union Pacific and 1 in United States Steel The strength was well maintain ed throughout the list, which advanced generally in the late trading to the highest level of the day, with the cop per shares as the features of special strength.
 Call money opened at per cent, went to 6 and then reacted.
 Tlere was little foreign buying here. Our market closed active and strong at the best prices of the day.
 some brokers see in the printing of odd lots disposition on the part of the stock exchange authorities to list the better class of mining shares which are bought and sold in fractions of 100 shares.
 In view of the law bank reserves here and tSle prospect of a further drain. there was some surprise over the faiI- ure of local institutions to secure any part of the $3,OOO,0oO gold arriving in London yesterday. The reason given was that exchange here on Saturday was not at a profitable importing point, though gold could have been taken at yesterdays rates. Exchange did not decline in proportion as money rates advanced, Furthermore, the Bank of England put up the price of bar gold one-eighth cent, and overbid all other buyers.
 The annual statement of Peoples Gas showed about z per cent. earned in 1906. compared with nearly 10 per cent. in 19O5 when the dividend was per cent. instead of 6, as now.
 The attempt to bring more legislative pressure against Northern Pacific started bear campaign against the Hill stocks. They both sold near the low prices of the year. There was said to be good buying of Northern Pacific l rights and of the ore certificates. Japanese first 6 per cents, the highest | expression of credit of the government, and United States Steel per cents. sold at similar price.
 A report was current in Wall street | yesterday that in a letter to the inter | state commerce commission President | Roosevelt would define his attitude to- wards railroads in such way that it | would be construed as "bulllsh on stocks Probably few believed this story.
 Kansas and Texas was bid above Al by a group of floor traders composed of w. D. Hatch, A. H. Caspary and J. J. Manning. It was claimed that there were some foreign orders in the stock, but proof was lacking The preferred went across Il.
 Anaconda, which rose Saturday in the face of weakness elsewhere showed further strength yesterday which tend ed to produce tine impression that the next dividend will be further increas- ed. Amalgamated Copper, which con trols Anaconda, made relatively small progress during the greater part of the day.
 The street was pleased to see some activity in Sugar. The speculation in it has died down to very low ebb with the distribution of the stock among in- vestors.
 How many if any, believed that the next dividend on Sugar would be in-