The daily morning journal and courier., 1905-12-25
STOCK MARKET FEATURES
JUBTLANT STOCK BROKERS AND
 BULLISH TALK.

Money May Tighten Little, But High
 CT Prices Are Confidently Expected
 SteeIs May be Feature.
 The stock market Saturday continued strong. The brokers had their annual ante Christmas jollifcation and bull talk was heard all along the lines, de- spite the admission that there might be- g. slight money furry this week and al few cautionary words from conserYa- tive observers.
 Some of the Wall street opinions are, in brief, as follows:
 Richard H. SWartwout, of Swartwout & Appenzellar: Note brokers are an- ticipating an easy movement of com- mercial paper after January 15, and with some concessions in rates. High grade investment bonds continue scarce and we have been unable to obtain them in any volume, and those that have come upon the market have been sold with but slight concessions in price"
 Bartlett, Frazier & Darlington: "There is good reason to believe that the money market next week will be very interesting, and it would not sur prise us if there was a sharp furry in money before the weekend. It is i'm possible to predict, of course, how high money rates may be advanced, but bankers are disposed to view the situa- tion with some concern"
 Carpenter, Baggot & Co.,: "The in- vestment demand at the end of the year is usually effective, but whether it will produce upbidding in the better grade stocks remains to be seen. The usual, end of the year window-dressing will probably be omitted this year. The general opinion throughout the street still leans toward the bull side of the market, and perhaps one of the biggest bull markets Wall street has ever seen"
 A. o. Brown, & Co.,: 'The bull inter- ests are depended upon to hold prices until the stringency passes after the first of the year."
 J. $. Bache & Co.,: "The Russian sit- nation is daily becoming worse, and there is still a stringency in the local money market. Stocks may in time ad- vance to much higher figures and many standard issues are still comparatively cheap. The Pennsylvania group, Steels and such industrials as Swift and Unit ed States Rubber preferred are selling below their values. It is well however, to go conservatively, as something might happen to force inside liquida- tion, and should such be the case, a sharp decline might become a good- sized panic. The public at large is not yet in the market and the bull move ment is still in strong hands"
 John w. Gates, who returned from Texas last week: q never saw the country so prosperous and so full of money, and the people so happy and with so much business to attend to-"
 l.. E. Blackwell, of White & Black we'll: T look for the return of money in volume early in the new year. I think that the street stocks will be the leaders of the next rise in the market, and that they will reach prices that will be satisfactory to the most sanguine. Stocks of merit will join the process sion, and those of doubtful value will be carried along by the impetus. look for prices before May~1 to reach figures never before seen in the history of Wall street"
 s. P. Harrington, of the firm of Hen ry Sproul & Co.,: "But always bearing the Russian situation in mind, I am an unqualified bull on Steel, Copper and all good railroad stocks, and look for period of the greatest activity Wall street has yet witnessed.'
 A. G. Vogt, of Harris & Fuller: "We are bullish on the market and believe that the railroad stocks will sell much
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