The daily morning journal and courier., 1905-07-31
STOCK MARKET FEATURES
BULLISH TALK ALL ALONG THE
 LINE.

steels Expected to Do Further Stunts
 Other Stocks to Go Higher It is Said
 The Group.
 The general tone of the stock mar. ket is bullish and bullish opinions are given out by many of the prominent dealers.
 It is well said Union Pacific prefer red, Reading preferred, Baltimore & Ohio preferred and Erie first preferred are entitled to more consideration af- ter the action that has been taken on shares recently that they Outrank. The ramifcations of this influence are many, and touch securities not only directly benefited, but others having parallel claims and policies. There have been twenty railway dividends increased since the first of January. True, some of them are unimportant Dividends on twenty-two industrial is- sues have been enlarged. In all, greater disbursements have been au- thorized on fifty-four companies doing oetS4AANAS2 Ati lAAC SI1lCu E9ldlCo anu twelve dividends decreased.
 As to the U. S.. Steels the following is of interest: "A year ago, during lean times, the charges for depreciation were relatively small. In the June quarter this year the amount set aside was over $5,0OO,00O, compared with S3,OO0,OO0 in the same period ill 1904 and SS,67S,000 in the March quarter of this year. The S7,5O0,00O appropriated from the surplus for June of $1O,57O,6S1, the latter representing an amount equal to ? per cent. on the common stock, seems to be a foresighted policy of providing fund for immediate use in harmonizing existing plants, buying other small ones and ore ands, and in number of ways contributing to the permanent good os the entire organ ization. This is one of the most sat isfactory illustrations of industrial management of the present day"
 Here are some stock market opin- ions:
 J. S. Baehe & Co.,: Stocks are in strong hands and neither come out on declines nor on small advances. Lead ing finaneiers realize the preponder- ance of favorable influences and are holding for higher 3rices. The gen. eral prosperity of the country, it's sound financial position, splendid crops, heavy railroad traffic and earn ings, and increases in dividends are all factors which make financial his- tory and which In time must be re- fected in higher range of prices"
 Edward Sweet 6 Co.,: At the mo- ment all conditions seem to be favor able to the market. Earnings are good, dividends are being increased, the crop outlook is satisfactory, while trade generally is brisk. Possibly higher rates for money may prevail, but in banking circles nothing like stringency is looked for"
 Dick Brothers & Co.,: Conditions favor a more active speculation and higher range of prices, and that while there may be irregularity which will tax patience we believe that stocks bought at this level will show sub- stantial profits little later on.'
 Marshall, Spader X Co.,: "So far we SO14N'ASt11 bAAC AENGio Gt9 COllSCL~ vative and likely to prove satisfacA tory range. for either investment or speculation,
 T. A. Mcintyre & Co.,: We rather believe the market will continue as it has been for the last month a creep ing bull market and that the money is to be made on the bull side and not in selling stocks short under the ex- isting conditions. We would, howev- CT, advocate conservatism and judi cious purchases
 Atwood Violet & Co.,: We are in a year of plenty: crops are abundant; money is easy; railroad traffic large; activity great in general business; gold production increasing and immi- grafton into this country exceeds all records this year. The flood of new recruits to the wealth and brawn of the country aids in the development of the resources of the land"