The daily morning journal and courier., 1905-07-29
STOCK MARKET FEATURES
STRENGTH WAS EVIDENT ALL
 AROUND.

Stocks Responded We'll to Satisfactory cOnditions-sOme Profit Taking steeIs Were a Strong Feature-COn- soIidated Roads Good Earnings Talk of a Dividend on Rubber Conn
 nOn-U. P.--The Southern Stocks.
 Stocks were strong and buoyant yes- terday, and responsive to the good con- ditions prevailing. Prices ran up cas- lily.
 Lackawanna, now of the 400, surpass- ed its previous high record and rose to 4G41z, gaining points easily.
 Steel common braced up and got to S5B, and stayed there.
 Little attention was paid to a new re- port as to black rust in spring wheat. This was because the winter wheat harvest is so satisfactory and good needed rains have fallen in the corn belt, while spring wheat is doing toler- ably well.
 The indications were that the outside public is nibbling well now.
 Missouri Pacific crossed par again h1lu dClSu dS II IL WdS WdhlIlS up lIOlIl Rip Van Wrinkle sleep.
 One of the earmarks of professional market was very conspicuous yester- day, namely, the circulation of reports of all sorts of deals, melon-cutting" and the like.
 The market encountered heavy profit taking on the way up, but exhibited a somewhat remarkable absorbing power, and the advance suffered but little in- terruption at any time.
 Reports are that the New York, New Haven and Hartford roads earnings for, the fiscal year ended June 30 will show a surplus of $300000 after the pay ment of the per cent. on the roads sS0,000,000 of stock, and that June earn i1gs for this year will exceed June's of last year by $700,00O.
 The Erie second preferred dividend appears to have paralyzed the specula- tion in Erie common. The theory is urged that the new dividend was not in the line of conservatism. Stocks ruled strong in the late trad- ing, with Amalgamated Copper and cer- tain other specialties leading. The Pennsylvania group and others which led at the start were quieter. There seemed to be little increase in the buying power.
 Union Pacific common and United States Steel preferred are still consid- cred the most representative of the &C., tive lis, and their advances yesterday helped general bullish speculation. / The running up of the southern group of railroad stocks had all the appearance of a professional move to prevent those issues from sagging off on public selling, because of the inroads of yellow fever.
 The operations in Shelters and Anal .gamated Copper are being worked in harmony, and both have for their foun- dation the strong position of the met als with which they are allied. Smelt- CTS crossed 120 for the first time since April, when it sold at approximately 124.
 At a meeting of the stockholders of the Valley National bank of Seymour Conn.,, 1t has been voted to Iiquidate it's affairs, winding up business on August F. The business will be taken over by the Seymour Trust company, recently incorporated.
 Nobody in Wall street appeared to attach any importance to the story about Union Pacific getting Illinois Central. The men who circulated this story had something to do with the al- legged "sale" of New York Central to Union Pacific last year, when they put the former up we'll above 165 and the latter to 137.
 Illinois Central and Lackawanna solo higher than ever before, and several ghares, including Rubber common and Nickel Plate first preferred, touched ll1e best prices of the year. Illinois Central crossed 175. Its best previous quotation was 1731a, made in 1902. There was again talk of dividend for Rub, Der common.