The daily morning journal and courier., 1905-10-09

But No Great Break is Expected
 Stocks in "StrOng Hands"-MOre Gold
 from EurOpe-NO Boom at Present
 Except in Spots-StOck Market Opin- e ions.
 The money question still dominates the stock market and no boom is ex- pected at present or until money works easier. Some Some activity and spurts in certain stocks may occur just to keep speculators interested.
 Some of the opinions in Wall street having more or less value are as fol- lows:
 Leopold Zimmermann, of Zimmer- man & Forshay, who has just returned from Europe where he visited some of the leading banks and bankers in Ger many, Holland, France and Switzer- land: 'The interest in American shares and bonds abroad has been on the increase for some time, and they now enjoy general popularity. The growing importance of our country as a financial center is more and more. re- cognized.
 Charles W. Osborne, confidential man of Russell Sage, whose office in an &C., tive money market, often has outstand- ing loans of $25,0O0,0OO to $S0,000,0O0: Business is splendid, but may be in terrupted by what congress may do. That is the only possible stumbling blocktso far as I can see. As for any boom in the stock market, that is a question which will have to be decided by people who have more money than I have.''
 John H. Davis, of J. H. Davis & Co.,, in his survey, notes the immense pros erity of the country and adds: Peren- nial prophets of evil can find no factor in support of dire predictions except a possible stringency of money during the moving of the exceptional crops, and the probability of trouble in the coal trade next year.
 H. V. Jones, of Minneapolis, the au- thority on crops and a member of the firm of Watson 6 Co.,, just now in New York, notes the great increase in the value of farm lands and the great in- crease in manufacturing and adds: The railroads are spending millions to put their properties in shape to carry freight economically. Great progress has been made in this respect, as the reduction in the rate per ton per mile from 2ss1-2 per. cent. twenty-five years ago to 3-4 of a mill now indicates. There is nothing of the old bedraggled look remaining in the vest
 q oF z Gotac Q- Co.,: q do not anticipate much of a market next week, or until such time as the money situation clears. Ulti- mately. prices are certain to go very much higher"
 Henry Clews, of Clews & Co.,, speaks of the lightness of money, the great en- largement of business, the wealth, then to the crops, and as to the future re- marks: ::The market of the future both the immediate and the moderately remote future-will depend upon the ability of these large professional in- terests to successfully withstand pe- riod of more or less financial strain and of adverse, or at any rate unset tling, developments in the national leg islative situation; particularly agita- tion for tariff changes and Federal su- pervision of railroad rates.
 "I'he stock market situation from the money standpoint is therefore one that cannot be too closely watched, and one that suggests the utmost conservatism in market operations. Fluctuations promise to be sufficiently active to con- stitute good trading market, with op- portunities for quick profits on either account" .-.-..
 J. s. Bache & Co.,, after survey of the general situation, remarks: "The increased money rates will undoubted- ly call for further gold imports, but in view of the Panama Canal expenses, the activity in general businesses and the magnitude of the crops, it seems improbable that money rates will per manently fall much below per cent for the balance of the year. We fee that the market will not again become active until money falls to at least 5 per cent, but prices have not yet dis counted the improvement in the husi- ness and industrial situation, and con- sequently we look for higher level of prices in tine.''