The daily morning journal and courier., 1905-09-18
STOCK MARKET FEATURES
PRICES WENT UP DESPITE BANK
 STATEMENT.

Bulls in Control and Higher Prices Ex-
 pected Despite Fears of Money strin-
 gency-DirectOrs of Consolidated
 Roads Do Considerable Business.
 Saturdays market was surprise to most spectators. The bank statement, it was expected. would be such that prices would drop. It wasn't so bad after all, and prices went up making the bears very uneasy.
 Higher prices are expected this week, especially with more gold imports.
 Quick interest has developed in the Gould stocks and the Ramsey-Gould controversy, as to the control of Wa bash. The Wabash debentures acted as If there was some attempt to wrest control from the Goulds. These deben- lures have voting power.
 As to St, Southwestern, it is said: It is not unlikely that at their meeting in October directors will dis cuss the question of dividend payment lon the preferred stock, and if some members of the board get their way this issue may be place on a 4 per cent. basis. Last year the company earned, after payment of all charges, a surplus | Of $1,043,000, or slightly more than 5 per cent. on the $20,0O0,000 preferred stock. This year, on account of the very large crops and the excellent gen. eral business situation, earnings may
 be expected to run ahead of those fo the twelve months ended June 30, 1905, and it is on this favorable outlook that the advocates of the 4 per cent. rate base their attitude. &+
 As regards the financial situation, ii has undergone no important change during the week, according to Banker Henry Clews. The favorable crops, tho I treaty of peace, the domestic and for eign trade energy, the general indus l trial activity--all these have been very generally expected; and have material l ized. Their effect as immediately stocl market influences has therefore ended and they take their place as factors
 in general long-range market Ioutlool in which the natural laws of trade vii operate and control. The pivotal poin' Is the money market, and the hand.
 writing is very plain that there is to b a period of active money, extending through the usual autumn period O
 strain. It is hardly probable that tn, Istrain this year will become more thai
 usually acute in that Secretary Shaw may be depended upon to give ever, possible relief. Such relief, however lcould only be furnished after a strair I that already developed to a measurabl, degree. Therefore, with a constan threat of stringency on the one ham land a promise of relief before it be Icomes dangerously acute on the othe
 hand-and, moreover, with the inven
 tive for the large cliques and othe loperators to protect their immens Iholdings-tfe stock market prospect icertainly seem to point to active ant
 wide fluctuations, which will afford or lportunities on either side, for quicl Itrading without the risk of the situa
 tion approaching the danger or pani lpoint. That activity is. generally ex Ipected in the stock market is indicates 1 by the advance in the price of stocl lexchange memberships to new higl
 record, namely, $S4000.
 1 U. s. Rubber took a skate upwarr tagain Saturday. Report says that tn meeting of the United States Rubbe directors on the first Thursday in Oc T tober it is expected that in addition
 to declaring the regular dividends, ol
 the first and second preferred stock Iaction may be taken placing the com ,r1nn on q di1tidnnd tntic