The daily morning journal and courier., 1905-08-16

A Reaction Asserted Due-StFOng Mark ct for Americans fin LOndOn-CrOp Re- ports Again Distinctly Favorable New York and New Haven's Excellent Report of Earnfngs-Canadian Pacific Also.
 There was. renewed buoyancy in ~ stocks yesterday, coupled with evident taking of profits on quite good sized scale. The Gould stocks were among the features of the day, Missouri Paci- fie and K. A. pf'; also Denver pf and the Wabashes showing strength.
 On the other. hand Lackawanna drop ped, ten points to AGO and Delaware and Hudson dropped points and Northern Pacific 2.
 The selling by banking interests and the trading element was based on the theory that good reaction was cer- tainly# due after the recent great ad- vance in prices. Sentiment was more cOnSSfRdLlN6 LHdIl OL late.
 The weather bureau weekly crop re- port emphasized the monthly statement and the high expectations previously entertained as to the outturn of the haryests.
 There were further excellent reports of good earnings New England was well represented in the statement of the New York, New Haven and Hart ford for the June quarter. Gross earn ings increased $1,O1O,727, and through a reduction in opening expenses of $516,- 526 the grain in net was brought up to $1,527, ,253. , The great point of the quar-. terly statement was a surplus after charges of $3912,S7S, an increase of St,- 674, 636: Tn addition to the large subur- ban traffic the New Haven company through it's rail and steamboat lines carries a large amount of raw material to the mills and factories of New Eng land, and also furnishes transportation in the safe way for manufactured goods to New York and other distributing centers. New England's industries are surely sharing freely in the prosperity of those in other sections.
 The market had a strong start yes- terday and M. o. P crossed 105, Rock Island 34, and New York Central 156 Afterward they reacted a trifle. Some of the industrials were strong features early in the day. 6
 Missouri, Kansas and Texas pf. sold up to the highest prices ever recorded for it on scattering commission house buying.
 After noon the fractions were taken in hand, and Brooklyn Rapid Transit and the Metropolitan shares advanced. There were no special reasons in evil dence, for most of the bidding up, ex- cepting the existence of the bull market itself
 The Canadian Pacific annual report shows a surplus after preferred divi- dends which amounst to about "A per cent. on the common stock now out standing. This common stock was irl- creased in 1905 from $S45O000O to over s101, 1,O0O, ,0O0.
 As was the case Monday there was an afternoon reaction brought about by profit taking sales induced by the early advance.
 The bears are but little in evidence,
  ''sorne day" ,
 Faith in the ability of Amalgamated Copper to rise superior to influences which have held it back in the recent advancing market is strong among those who regard trade conditions,
 No special meaning was attached to the rise in the specialties-such as Smelling, American Locomotive Metro politan Street Railway, and Metropol- .itan Securities.
 Stocks were heavy in the late heavy trading with profit taking throughout the list. The lowest prices of the day were seen near the close.
 These are the views of Boody, Mo- Clellan & Co.,: "At no time indeed ir the history of our country has the out. look been mode promising than the present. The danger is in our becoming too confident. These great advances should prompt us to be careful and con. servative remembering that the mak. ing of quotations is in the hands of in terests who care little from what levels they trade, and who can bring abou reactions in spite of underlying condi tions, should it suit their purpose to d. @so."
 A New York dispatch last evening says: Russell Sage. who has just cele brated his eighty-ninth birthday, has the expectation of living to be 100. In cidentally Uncle Russell to-day deliv cred himself of market opinion tha he would live to see Missouri Pacific stock sell at 200. Talking to frient MT. Sage said: T expect to live to b. 100 and to see Missouri Pacific sell a onn sp