The daily morning journal and courier., 1906-07-06
STOCK MARKET FEATURES 4 SMART AND GENERAL AD-
 VANCE OF PRICES.

Followed With Weakness Toward the
 Close-A Better Feeling Prevailed
 Mir. VanderIip's Speech Not Alarming
 Good R. R. Earnings--"AmaIga-
 mated" Talk.
 There was quito 2 lively advance in prices during the forenoon, which was helped by the strength of American stocks in London.
 Russian securities were in better fav- or abroad and this stimulated the bet ter feeling in London.
 The advance in Russian bonds were attributed to much more optimistic ad- vices respecting political and social conditions in Russia, although these were not altogether borne out in the press dispatches.
 Vanderlip's talk on the nnancial sit- uation was prominent factor in the days advance.
 The weakness late in the day was att tributed to the alleged absence of strong support and alleged evidence of fresh liquidation.
 Traders generally were enlisted on the bear side, believing that as liquida- tion had manifested itself on every sharp recovery the same thing would occur again. They thought they saw entire absence of interest on the part of bankers and a continued desire by fire insurance companies and pools to sell when they had good chance. Prob ably this view was pretty near the truth.
 The grain market moved irregularly, wheat being weak, while corn was de- cidedly strong.
 Gossip in Wall street yesterday turn ed largely on the coming dividend on Amalgamated Copper on which action is to be taken two weeks from yester- day. The stock led the recovery on Tuesday, and was again strong yes- terday, until the last hour. From the action of the stock, some good authori- ties thought that the rate would be the same as last year, namely 1 1-2 regu- lar and IA per cent. extra.
 The running up of prices in London before the opening was attributed by some to move to influence che market here
 Wall street kept sharp lookout for news, good and bad. On the favorable side was classed the rumors of in- pending large imports of gold from Eu- rope. Australia or any other available source of supplies.
 Some gratifying statements for the month of May, including the returns of the Chesapeak and Ohio and Norfolk and Western companies carried some weight in the early part of the day, particularly in view of the dividend ex- pectations regarding the stocks of both of those companies.
 Crop advices were generally favor- able. Rapid progress is being made with the wheat harvest Mr. Wander lips speech was expected (before it was delivered) to contain something otrlin- ous, but it did not. When the facts were known, stocks gained some head way. The money market had more assuring outlook.
 There was further liquidation in American ice stock because of fears of actions against the company similar to those brought in other states, on the ground of alleged conspiracy or for other reasons, alleging devices to keep up prices,
 Leading features in point of activity and extent of fiuctuation were the United States Steel shares, Amalgamat- ed Copper Union Pacific St. Paul. Pennsylvania, Reading, Baltimore and Ohio, and New York Central.
 The circulation of a report that the St. Paul company had secured a loan of $25,0O0,OOO in Paris on treasury as- sets, and would raise $5O00O 900 more, partly by sale of stock and partly by sale at home of treasury securities did not help this issue any.