The daily morning journal and courier., 1905-07-08
YOCK MARKET FEATURES
{ LIVELY ADVANCE WITH 4
 COOLING OFF LATER.

Heavy Profit Taking in Evidence Again
 -ReadIng Scars Once MOre-steeI
 Stocks Leaders Again-Union Pacific
 Dividend TaIk-COpper Talk-sOuth-
 ern Railway Strong.
 Yesterdays stock market was a strong one excepting that near the close prices shaded off somewhat. No partic- ular weakness was manifested. how ever
 The softening of prices was attribut- ed 10 profit taking.
 A favorable influence on sentiment was the large borrowing of time money b. prominent houses. The natural in- ference from this was that a bull cGm- paign had been planned.
 Men who have been following the af fairs of the Erie railroad and the mark ct movement of it's securities believe that the latter will be considerably higher.
 The strength of Amalgamated Cop per was in a measure attributed to the current report that the next dividend will be at the rate of per cent. per annum. It is now on a 4 per cent. basis.
 Just before the close the whole mark ct became irregular, and final prices were heavy, in few instances near the lowest of the day.
 Persistent statements that the Union pon4fia dfytIa11I INo rofcaH fO a per cent. basis was another factor of moment. The company yesterday re- ported gain of ,O0O and $11S,OOO net for May. This is not as good result as for some previous months. The Southern Pacific, however, did better, increasing $S35, 900 gross and $364, ,0OO net.
 New Japanese 4 1-2s second series, deliverable when issued" were dealt in for the first time on the Broad street curb yesterday afternoon, sale being made at SS 7-S. The issue price is expected to be S7 5-S. Immediately after the sale the quotation was sS bid and S9 offered. and it continued this way for some little time.
 It is current gossip that the Gould people are taking a bullish view of the outlook for the Gould roads.
 Among the low priced shares South ern Railway made a distinct gain, crossing 34, on a larger volume of bus iness than 1t has enjoyed in some time. Louisville and Nashville was also strong about 150.
 The net earnings of the Steel corpo- ration for the June quarter to be made public July 25 will be a shade under sS0,000o00. Already it is predicted that the September quarter will produce a net of $35, 100000. Most of the bullish sentiment now going the rounds on the Steel stocks is due to the activity of the mills at time when they are ordinari- ly slowing down.
 The advance in Philadelphia was Gates affair. They took 10000 shares The bankers identified with the bond syndicate were said to be giving out buying orders.
 The Missouri Pacific Railway com parly applies to the New York Stock Exchange to list $25,00o,000 4O-years 4 per cent. gold loan of 1s05
 The Erie stocks were active again, with the movement spreading from the common to the first and second prefer red stocks. | There is talk again of @ corner in Reading like. there was in Louisville a few years ago.
 The, daily new high record was again made by Reading on a smaller volume of business, but with probably larger general interest in the stock.
 Before o'clock yesterday Reading sold at 1oS 3-4, Pennsylvnia, Union Pa- ciffc, New York Central, Amalgamated Copper, and various other issues were also very firm, serving to keep the gen. eral market steady. All this time there was continued distribution of long stocks. Buying by professional cliques was the feature.