The daily morning journal and courier., 1905-11-06
STOCK MARKET FEATURES
BAD BANK STATEMENT CALLS 4
 HALT.

tuners thluk DI1ere1Eiy - bfs
 Prosperity of Country Sustaining Bull
 FactOr-SOme Opinions.
 The stock market was hit Saturday by the. bad bank statement. but good judges say the money stringency will not last long. Others, however, think there will not be easy money for weeks and weeks yet
 But the country is immensely pros porous, and this is prop against much of drop in prices.
 There will, however, be danger in over speculation. If bulls get too ram- pant the brakes will be put on
 The bears get little comfort from the known increase of wealth in this coun- try due to the great prosperity of the nation.
 4 million or two a year increase in population is factor fer the bulls also.
 On the bear side are the operators who see in the present speculative ex- cesses the beginning of the end of the bull market and who have been opposed for some time to be rise, on the theory that stocks were selling much above their proper income value.
 Then there are the temporary bears who want a reaction of to 10 points in order to be able to buy stocks and get on the side of the market toward which, at heart, they are most favor ably inclined.
 Samples of Wall street market opin- ions aer as follows:
 R. F. Lounsbury, of Lounsbury & Co.,: My impression is that within the next three months we will see a very much higher market, especially for the railroad stoc ks,''
 5. K. Harrington of Henry Sproul x Co.,: T believe that the phenomenal crop and industrial conditions, as well as the steady increase in railroad earn ings, have compelled investors and strong financial interests to increase very extensively their holdings. I feet safe in predicting that the market will gradually work up to a much higher leyel."s .t~% .
 William J. Wollman, of ], S. Bache stacsCo.: General conditions never were as good as they are to-day. The steel business is really the barometer of the prosperity of the country. The United States Steel corporation has enough or ders to run the greater part of 1908, and expects before the end of the year to have sufficient orders booked for all of 1906.''
 Frank Dale Mcguire, of Charles Min zesheimer & Co.,: T consider the year 1906 will he the banner year the 1TnifnH Gfafnc nd f1r at, higher prices. | think there is big money to be made in buying the low priced issues, both industrials and rail- road Among the standard shares I consider that Pennsylvania stock is one of the best things in the market :: H. K. Burras, of II. K. Burras & Co.,: ''The market is almost entirely profes- sional. Good securities are a purchase on all recessions, but the wild move ment in the more speculative stocks is having a deterring effect on conserva- tive investors. Notwithstanding the seemingly big prices, there are still many opportunities for profitable ins Vestments."
 Carpenter, Baggot & Co.,: Buying on recessions and accommodating on scale down, will, with patience, place the trader in proper position when a sus~ tained advance carries the market to higher levels"
 Henry Clews: ''The outlook of the stock market is hopeful, for legitimate conditions are sound and in favor of a good market. Technical conditions are, however, somewhat unsettled. Optimis- tic sentiment largely predominates and the bears are lacking in both courage and argument. Nevertheless, Mir. CIews continues to advise caution.''