The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-17
BULLS IN STOCKS
DEFY BANKERS
Wall Street Sees a. Rising Market
Despite the Conservae
tives.
Special to The Journal

Special to The Joufna4- ...
New York, Dec. l6.-Leading bank
tactics of the bull element, but the
bulls keep right on and have actually
pot the better Of the bankers efforts
to control the market. 1t is conceiv-
able that an even higher range of quo
tations may result from the prevailing
campaign of the pools. The plan OF
the large speculative, clques, however,
dizzy heights, but rather to sell them
to the general public. If the public
has thus far refused to be attracted by
the Establishments Of the big bulls, it
is due to the warnings of conservative
brokers. Even those houses which are
Optimistic on the situation take care
70 qualify their opinions. with ssugges.
only on reactions. The rise may go
further and opportunity thus be at
forded to make profits; but when once
break comes, it is good opinion that
it will be more than a mere healthy
reaction. g
sentiment on Baltimore & Ohio. lnfor-
nation comes from excellent sources
that, while the annual report of that
company showed slightly more than 8
per cent to have been earned on the
common stock, the actual current earn
ings, if divulged, would be found to
be approximately Is per cent. The di-
version Of money, it was stated, for
extraordinary Improvement, is sufficient
to account for the large earnings in
excess of those which appear from the
company's report. Other good dividend
paying railroad stocks, it is believed,
will show profits, if purchased around
present prices, or on any recession, tho
some patience may be required to Sc
E,,11 ~,
Expressions of confidence in the fu-
ture Of the market are heard practi-
cally unanimously from representatives
of the uptown interests. The money
situation, it is believed, will become
decidedly easier within the next week
or two. 1t is not expected, however,
that period Of extreme ease in money
has been made for the yearend settle
ments. That relief will come shortly,
to prevent a recurrence Of such tension
as has recently existed in the money
market, is everywhere believed. Wheth-
er or not this will be the result of
treasury intervention, or of ample sup
plies of money which will come to New
York from outside sources, in reality
makes little difference. Temporary re-
actions, as result of fresh items of
bad news from Russia, are regarded as
not improbable, but it is not believed
that depressions Of more than momen-
tary Importance will occur here from
this cause. There seem to be indica-
tions that the standard railroad stocks
which for some time have been more
or less neglected will soon assume a
actions. It is pointed out that during
the rise which has taken place in in.
dustrial issues within the past month
the railroad securities have not shared
to any appreciable extent in the up
ward movement.
Rumors published in Wall street that
an agreement had been entered into be-
company and the Independent com
panies, which would result in largely
Increased profits, were denied by the
Representatives Of one of the largest OF
the independent companies, the Ma
tional Sugar Refining company. Presi
dent James H. Post of that company
said that the relations Of the indie
Sugar Refining company, known as thu
Sugar Trust, had not changed so far a.
he knew. He added that he would b,
happy to confirm the rumor were i
true.
It is stated positively by people in
position to have good information tina
Kansas City Southern issues are bein
perslstently accumulated tor the pun
pose Of control. The Hartman inter
ests are mentioned in this connection
The incentive being the purchase Of tn
stock of the Missouri, Kansas & Texas
another gulf road, by James j. Hill.
It is believed that New York Contra
Is going considerably higher. It
pointed out that last spring the stoc
sold at nearly ITO and that the carr
tngs are larger now, and the position o
the Vanderbilt companies is stronge
than It was year ago by reason of tn
about that time has been develope
pretty fully.
Money continues to come here fro1
Canada for investment at good profit
Stanley Schroff.