The daily morning journal and courier., 1907-02-16
STOCK MARKET FEATURES
PRICES START UP AGAIN AND
 HOLD FAIRLY WELL.

Per Cent.-BIg Profits in Copper Anaconda Went Above 3OO-New Ha- ven Road Sells for 145, 5,OOOOOO Francs Seven and Quarter Million of It's Four Per Cent. Fifteen Year Debent- ures-These Bonds to be Placed Ex- clsively on Foreign Markets.
 In yesterdays stock market the bears did not follow up the success of ! the day before, and stocks rose. The marke ruled strong most of the day on a resumption of buying from speculat- ors who seemed to be impressed with the chances of securing financial legis- lation at this season. Although pro- fessional the movement was sufficiently pronounced to keep the entire list strong until the last hour. The late decline was not at all sen sational, as there was an absence of selling pressure. The stock markets ability to recover quickly from any depression was conn mented upon as encouraging the bull ishness.
 Numerous pools got busy making up their specialties. This helped the up turn.
 New Haven railroad stock sold at 1SS 3-4 in Boston yesterday.
 Anaconda gained over 10 points, and touched a new high record, above 800. In Boston Calumet and Hecla sold at $l,000 a share for the first time in its history. Amalgamated Copper crossed 115. The inability of producers to de- liver copper at 25 1-2 c. a pound, which represents am operating profit in the case of Calumet of about 15c., and with seems to be justification for the high market values now quoted.
 N. r, N. H. & H. R. R. Go. has sold to Kuhn, Loeb &t Co.,, New York, for 145,0O00OO francs, equal to $7,25O, 900 four 'per cent. 15-year debenture, payable al- so in marks and sterling. The bonds will be exclusively placed upon the for eign markets.
 Ignoring the better feeling abroad, the bears started up and made drive against Missouri Pacific, follow ed by offering down of many active issues. But within half an hour the selling movement was over, and be- fore il o'clock the entire list was nov ing up. At midday stocks were strong.
 The bull point among the traders was Reading, owing to the ability of the pool in the stock.
 The midday recovery was generally attributed to advices from Washington that the Aldrich bill would probably be brought up in the senate yesterday and passed.
 Most issues closed at substantial ad- vances over Thursdays closing prices. The popular belief that the Aldrich currency bill would pass congress next week had a good effect on sentiment.
 The numerous states that are all passing two cent a mile passenger rate bills are all aiding in bear market, so the pessimists claim. On the other hand, experience teaches that a reduc- ton of this sort always stimulates travel.
 The decline in Missouri Pacific was stopped at S2 It is claimed that a member of the Rock Island party who has figured as a bear on the general market has been attacking it. Mop credit is such that it would have to pay high as a borrower of money Charles W. Osborne, one of the executors of Russell Sage, made positive denial yesterday of Wall street reports that the Sage estate was selling in the market its holdings in Missouri Pacific and other Gould stocks. Missouri Pa ctfic declined to 82 yesterday, its low est price since 1901. There were further reports of impending note or bond is- sues, although these reports were again denied.
 Estimates of to-days bank statement 1t was thought pointed to a further de- pletion of bank reserves-perhaps wip- ing out the surplus. Furthermore, the fact that less than $500,000 per cent bonds of 1907 had been thus far turned in for redemption under Secretary Shaws offer, was not bullish factor.
 The forced liquidation that carried soo common down nearly 95 points to 107 1-2 has been followed by a recovery of about half the loss. Soo common is only a per cent. stock and at l25 is no 'cinch,
 While the Southern preferred divi- dend may be cut this year there is a fairly good prospect, it is said, of Rock Island preferred going back on a divi- dend basis,
 The willingness of London to follow an advance here was shown again yes terday in purchases of 15,0OO shares This makes over 100000 for the week London was convinced that our market was liquidated sooner than were people here, and bought some cheap stock. Sc did Berlin.
 Money rates were higher abroad, in- flusnced in part by the continued with