The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-06-25

money question seems tne OOm1MAna
Force Despite Splendid Railroad
Earnings, the Great Prosperity of the
Country and the Fine Promise of the
Crops.
Saturdays downfall in the stock
market following the quick petering out
of the bull movement started on the in
crease Of dividends for B. and o and
other good bull news was a sore disap-
pointment to the bull pools.
Southern Pacific, which had been
started upward as a bull leader, fell i'll
and dropped and about everything else
that had been active.
There was good news from the crop
regions, the great prosperity Of the
country was in evidence and the big
railroad earnings yet stocks seemed
very hard to bull.
The oracles, including some of the
wisest Judges of the situation were APP
pealed to and gave it as their opinion
that there was too great a demand for
money outside the stock market.
There was talk renewed about the
vast mass of undigested securities such
as about $6OOO0O,0OO of bonds that syn
dtcates cannot find a market for; of
long time money commanding IL per
cent, Of the difficulty of floating other
new securities that are crowding for
purchasers. There was talk also Of the
vast amount of money that is being
Slapped up to handle the wild real es-
tate boom all over the country. All
these and other reasons were trotted
out
The pending investigation of Stand
ard OILS methods was the direct cause
of the unsettling of Saturdays market,
coupled with the getting left of a
bond syndicate. aud the call for large
amount Of cash from the Inter-Met
pool members.
Some of the@WalI street opinions are
as follows:
Watson G. Co.: The bear party has
the power and confidence born Of re-
cent success; they have little to back
them up in the way of actual facts,
but much for the moment in the fears
of a emi-professional speculative pub
lie.
]. S. Mache & Co.: The technical sit
uation of the market is in peculiar
condition There is just as much like
lihood Of a sharp break from the pres
ent level as there is Of marked adj
vance. Though there are many weak
spots there are also many convincing
bull arguments
Dick Bros & Co.: We think condi-
tons are favorable to improvement in
the market, and, barring unfavorable
crop news, we look for higher level
of prices during the coming week.
Bartlett, Frazier g. Darlington: 1t is
entirely among the possibilities that ST.
Paul may duplicate the Pennsylvania
operations and borrow $50,000000
abroad. Should this be done the situa-
ton would be improved
John G. O'keefe of II, L. Horton q
Co.: Developments favor the bulls, but
the market effect recently OF. good news
Is not lasting.
Misser G. Co: We believe the outlook
is still uncertain enough to warrant |
purchases only on weak days, and then |
of railroad stocks only, while on the |
other hand sales of industrials will |
probably prove profitable if made on
the bulges,
Carpenter Baggot & Co.: We believe |
the present situation affords opportuni- |
ties for turns on either side of the |
market. Securities seem reasonably
safe from further seerious decline Of |
excited advance,
Marshall, spader & Co.. There is as
yet no evidence that an upward move
ment would be encouraged by the
banking interests.
T. A. Mcintyre & Co: Il looks as If I
we reached the top of the boom in the |
early spring, and since the San Franz