The daily morning journal and courier., 1905-07-18
STOCK MARKET FEATURES
NO FIREWORKS BUT PRICES
 WERE STRONG.

Good Crop Prospects and Easy Money
 Helps Things-IdeaI Crop Weather.
 There was much underlying strength in the stock market yesterday, and stocks were strong.
 At one time New York Central, A. c. P, Union Pacific and Steel pf. gained point each.
 Professional interests were reported to be accommodating stocks and the bulls were bulIish
 The weather in the grain regions is ideal for the crops.
 A we'll known banking firm was al- legged to be trying to buy 10-day calls on Metropolitan Street Railway, as if to create an impression that this stock will work much higher. It was strong yesterday.
 The statement on United States Steel is expected next week and there was some bidding up of these stocks yester- day by those optimistic on the subject
 There was activity in United States Rubber yesterday The acquisition of the Rubber Goods company by United States Ruber was considered a good thing for the latter. Much was said aout the alleged large earnings of the United States Rubber company.
 Union Pacific opened with $500 shares from 130 3-4 to 13O 1-2, sold up to 130 718 and then reached 1-2 point by noon. The best buying of it was around 1S0 7-S. It was at that point that considerable stock had to be absorbed before the re- cent rise above 131 occurred. It was definitely stated yesterday that the div idend meeting will occur on Thursday and that the rates will be at 1-2 per cent; ..'
 London's operations in this market were about 40,000 shares, nearly all pur- chases, including Southern Pacific, On- tario and Western, United States Steel, and Amalgamated Copper. American stocks on the other side were generally a trifie higher before the local opening.
 Aseil & Co. bought 5000 Delaware and Hudson rights. There has been consid- erable accumulation of them lately by strong houses.
 The Fries were strong and it was al- legged in one quarter that dividend on the second preferred is near at hand. A dividend on the first preferred may be acted on any day. Some were com pairing the relative cheapness of the first preferred as q 4 per cent. issue, around S4, and various other per cent stocks A frequent comparison was with Reading common, which is sell ing some twenty points higher, but which not very long ago was selling below Erie list pf.
 There was some profit-taking in the last hour on account of the dullness, but no indications of pressure Traders were the sellers.
 Woolens common reacted on the an- nouncement that the company would is- sue $5,000,000 pfd stock. The output will be at par The preferred is now selling at 104, so there will be small rights. The new stock will participate in the October dividend.
 q have never seen a better situation in grain crops" says an officer of the Rock Island, who has just returned from the southwest. Prosperity, grow ing out os great satisfaction with the yield and quality of grain, is to be ob- served on every hand west of the Mis- souri river. Corn is late, although mo- body is worrying"
 The interest in Amalgamated is large 1y owing to this weeks meeting of the directors to declare the dividend. It is usual for the executive committee to met Tuesday and determine the rate, and then sor the board to announce it Thursday It is very strongly inti- mated that the rate will be per cent. and 1-2 extra.