The daily morning journal and courier., 1905-08-11
STOCK MARKET FEATURES
DELAWARE & HUDSON NOW IN-
 DULGEs, IN SKY SCRAPING.

DULGEs IN SKY SCRAPING.
 ---=--
 Splendid Government Crop RepOrt-It
 Was Issued at Noon for First Time
 New High Records - Spectacular
 Movements--A Lively Day.
 The government crop report was splendid, and stocks responded.
 The bulls were extremely bullish, T Delaware and Hudson followed Lack aWanna's example and shot up twenty points to PA. LackaWanna, not to be out of the game, put it's bull boots on and shot up to 46S1s, Jersey Central to 220, Illinois Central to 1S01z and Snlslt- ing common to 1903. Also, New York Central advanced S5s to 1521s, General Electric 2A to 1S2&, Omaha to 199, New Haven to 2101a, and Lake Shore to 325. The price reached by New Haven is the same as the previous high record. The movements in New York Central and Delaware and Hudson car ried revival of the old story that the former was to take over the latter. Some of these properties reacted sharply on fealizations, but before the close started up again. ...*.....-
 Some long stocks came out but most 9f the selling was for the short account, as the trading element held the theory that q reaction of moment was clearly due after the recent hot pace of specu- lation. a~<5
 For the first time the government crop report was issued yesterday at %noon. This action on the part of the government is the result of a request made by exchanges throughout the country, some time ago.
 x With our great harvk sts the country will be in a better position than either Great Britain, France or Germany to stand any shock from continuance of the war between Russia and Japan.
 A years payments on Delaware and Hudson was only begun short time ago. But it is known that the compa- nyts earnings are very large, some esti- mating them at 20 to 25 per cent. year net. Therefore, it is clear that the company could without difficulty put it's stock on 8 10 Or 12 per cent. annual ba- sis, or it could make extra payments, as the Laclawanna does. But it is not very long, since it was Wall street talk that D. and HIS coal mines were about exhausted, necessitating it to buy new fields.
 Nervousness was distinctly apparent in tIls early dealings. There were al- ternate periods of advances and de- clines.
 While various stocks were shooting to skyward ill price, there was heavy profit taking by professional interests, who were back Of the markets rise. There. seemed to be but little public buying. >~ &~.< : 1t was natural that the idea that the control of the Delaware and Hudson is being acquired in the interest of the New York Central should find many be- lievers. x 2. ''
 There was good deal taken for granted i11 regard to corn, whose ma- turity is yet some weeks off and which might suffer a considerable setback in that time.
 In Philadelphia United Gas Improve r1ent did not act with the other issues in recovering the early losses, and on rather light sales went off B to 9S1s.
 The buying of Delaware and Hudson was looked upon. as gilt-edged.
 The street is talking 800 for Lacka- wanna.
 Big things are talked of for Ameri- can Sugar Refining stocks in quarters where this kind of prophecy frequently originates.
 Missouri. Pacific, tipped for rise, opened at 101 and then tumbled to par.
 The Metropolitan Street Railway com- pany reports gross earnings for the month of July og $1,S92,6S9 an increase of i$79,40O over those of July last year. The earnings for last month were the largest for any July in the history of the company.
 The brilliant crop estimates published at noon yesterday on the grain crops offered an unusually favorable occasion for securing speculative profits.
 K Some people are looking for another Lawson scare and wondering whether the market will give way to it. Their memories of what has happened are still rather keen and their confidence in the bull leaders to sustain prices none too strong.
 Alternate heat and rain in the south- west have brought the corn crop along rapidly in the past two weeks, and it is now practically made. The southwest will harvest an immense corn crop this year. It will be fully 250,OO0,OOO to 275,- 000,OOO bushels ahead of last year, and will be the greatest crop on record. The Atchison, Topeka and Santa F'e rail- road and the Missouri Pacific Railroad company will have tremendous ton- mage to look after.
 The stock market gave quick response to the government crop estimates, which were about as favorable as the ,