The daily morning journal and courier., 1905-12-11
STOCK MARKET FEATURES
PRICES ADVANCE IN FACE OF DEPLETED BANK RESERVES.
Pools Confident and strenuOus-U. F. at 14O-GeneraI Talk Still Bullish-- Some Stock Market Opinions.


 14O-GeneraI Talk Still BuIlish-
 Some Stock Market Opinions.
 That the pools have their specialties well in hand was evidenced Saturday when at the news of bad bank state ment, prices resumed their upward pro- gress and that the movement might not all be confined to the individuals, Union Pacific was taken in hand and shot up to 14O.
 Prices advanced no matter what un- favorable news crops out whether tight money, alarm over Russia's finance and 2 their effect on French, German and English markets.
 The industrial stocks have advanced as though there was not a cloud on the financial sl1ies-all except the United States Steels
 Business conditions are certainly splendid-in fact, never better in the history of the country. Then the first of January is approaching when 8 vast amount of money will be let loose for Investment purposes. ''
 Some of the Wall street stock market opinions are IS follows:
 A. A HoGsinan: Prices have not yet discounted the country's vast prosperi- ty. The high rates of money are. I think, only temporary.
 Maynard c. Eyre, of Prince & White ly: "The immediate future is dependent upon money. I am a great bull for the long pull. think all the better class of railroad and industrial securities should be bought on reoessions; and I expect them to sell materially higher after money resumes a normal condf- tionr which should be after the turn of the year. The very fact that some of the largest institutions in the city did not mark their loans above per cent. in such an apparent money stringency as existed this week seems to me al pretty good indication of how the big men stand" .v .f >:
 Richard Sutro, of Sutro Bros. & O.: Having just returned from a tour through the far west, I find that condi- tions since the harvesting of the crops have improved wonderfully, and the outlook for the future could not possi- bly, be stronger or better than it is. One of the greatest factors for benefit, and one which is being very largely ig- nored by eastern interests, is the tre- mendous increase in the mining busi- ness and its affiliations, particularly in srpelting and refining of metals of all kinds The railroads are neither able to haul nor the sn1elters able to handle the amount Of material offered to them" '5'
 A. E. Hellman of Seligsberg & Co: Stocks are lodged in strong hands and seem impervious to bear attack. The immediate financial horizon, however, is | not entirely clear, and serious turn in Russian affairs in connection with the assembling of the douma next week may cause a reaction in the market" ! Q. N. Fairchild of Charles FairchiId & Co.,: "The season for high call rates is not very much longer and when the | money market gets normal again it ! would seem as if there will be nothing to restrain the bullish attitude of spec ulators.'' VI @
 As to cotton, Dick Bros Co. says: | 'The ginning report of yesterday con- tinued to be the principal topic of dis | cussion, and it's indication that the pre- vious bureau estimate was too low was the principal bearish influence. TheI week end figures showed very full talk ings for consumption"
 Henry Clews: Some of the plunging operations which were recently wit messed are open to very serious criti- cism. and can only react upon the market unfayorably. {. Fortunately, the outside public, constrained 9by the con- seryatiye commission houses, have not ventured very deeply in these reckless operations, so that the market is free of this element of weakness. Neverthe- less the street is full of cliques and ] pools, each endeavoring to unload upon { the other at the firse favorable oppor- tunity. With money at or per cent. securities that yield only to on their market value are dear, and some re- adjustment IS necessary"