The daily morning journal and courier., 1906-07-30
STOCK MARKET FEATURES
PRICES STRONG AND HIGHER
 WITH ACTIVE BUSINESS

Higher Prices Generally Expected This Week and some ReaIizing--SOme of
 the Wall Street Opinions All of Which Are Bullish-A Word as to Chesa-
 peake and Potomac Telephone Stock.
 The stock market was quite inter- esting last week, and kept on being so right on through the Saturday session. The bears, who had been confident that IPennsylvania when at 121 or so was going down to 110, were "habergasted" to see it cross 1S0, and there was some lively covering. So, too, in Amalgam- ated, in Steel common and in various lother active stocks, and even B. & o. aWoke from it's lethargy and touched l2O, and acted as if it was going high CT.
 Tomorrow the splendid statement of the United States Steel company is ex- Ipected, and there will be some activity again in the Steels to-day.
 A higher market is looked for this week, if no awful news comes from Russia.
 It is quite evident that the improve ment in the market is a spontaneous acknowledgment of splendid domestic trade and crop conditions, and not so much due, as has been stated, to the desire of large banking interests to goss over serious deveopments in this. country and the chaotic state of af- fairs in those nations of Europe that had Russian bonds. The recent buoy ancy abroad just as plainly represents a reboune after extreme weakness and a recovery from sold out and oversold
 state of the markets.
 Industrial conditions here are so sound that 1t is difficult for the reac- tionist to make much headway Obvi- ously the men under whose leadership the market moves, as J. P. Morgan E. , H. Hartman, James Stillman, William
 Rockefeller and H. H. Rogers, have
 nodded approval and are fostering the
 the present upturn.
 Some of the Wall street opinions are
 as follows:
 7 R. c. Lawrence of Clark, Grannis &
 Lawrence: "The leadership of the
 stock market this week has been held
 by Southern Pacific. Union Pacific can
 well afford to increase its dividend to
 per cent. without getting any divi- dend from Southern Pacific, but every . per cent. paid to Southern Pacific ? will increasethe earnings shown by Un- '' ion Pacific by one-half of one per
 cent Union Pacific looks cheaper now :, than Southern Pacific, and has a bet e ter prospect of substantial advance. It ' can advance another ten points with
 out passing the high price of last Jan uary when prospects were not as good as they are now. If the control of IL
 linois Central passes to Union Pacific F which change seems to be impending I it will be an immensely valuable ac.
 quisition for the latter company, ant
 one which cannot be attacked on Iega 's grounds"
 ' Charles w. Bonner of Harde, Bon Y ner & Co.,: We are bulls in this mar i' ket as we have been for the last fou, T. s. The buyer must exercise dis
 crimination, This is merely anothe, l. way of saying that the buyer must us, W common sense"
 f. Charles c. West of Charles Head $ B. Co.,; The Russian situation, whil is temporarily affecting foreign markets
 may be counted upon as a bullish fac
 tor in our market later on, as we hay
 an immense crop of wheat to marke
 and supplies from Russia will be mucI l. reduced. The outlook is encouraging
 to holders of sectfrities'
 e Jesse Wasserman of Wasserna, 70 Brothers, who returned from Europ l. last week, and who was in Paris whe ur the Pennsylvania railroads $500OO, ,OO ,r loan was floated, said: "The Pennsyl l. vania loan transaction created a ne, ,o sensation in the financial relationshi
 between ths country and France. Tn +s loan was accepted after a most care = ful scrutiny of the earnings of tn - road for a period of ten years. Tn o statements of the marvellous growth ( n the earnings of the Pennsylvania raj t road have opened the eyes of tn - French people, and believe that tn ~ time is ripe for this country to ir
 vite French capital which if ono
 started, will leave England far behinC
 This country never had better oppol ,.. tunity to bring itself in touch with lS rich nation searching for sound inves
 mentsi, of which we might say we ha1 ne an 'embarras de richesse.'
 'sI Henry Clews says: "Freshened by Iy' period of rest, encouraged by the a( 'l' journment of congress and relieved | IT. abatement of the investigation feve IT, stock market operators are more fir, ry in their efforts for an advance IT a prospects, therefore, are for more a. 'le tive market. Such manipulation li- there is Is based upon improved gene he al conditions, and so long as the mont he market remains free from disturban, h. we may hope for continued recovery.
 The Washington, D. C., Financi
 Review says of stock that was orij
 inally started in New Haven and whit
 has many holders here now, viz, Che tn. apeake & Potomac Telephone: The ,,, was something of an inquiry, and u
 dormant bid of 52 to 53 quickly nov, 6" up to 60 several small lots going lra that price. Of late New England h. lss had orders for Chesapeake & Potomt $ here. but these shares are one of nd class which cost much more mon lin than the ruling price to the local hol
 CTS, and when anything like a ci en, comes the stock is found to be tho