The daily morning journal and courier., 1906-01-01

Justify the Optimistic Views-Mar- ket Opinions.
 ( The stock markets strength in spite the high prices for call money, which as surprised all the old-time brokers ld some of the younger ones, is held y many authorities in Wall street to ge amply justified by the prevailing Sonditfons of business and by the out sok for the future.
 Conspicuous among the developments the year is the absolutely astound- Reinforcement of the United States Corporation. At the close of 1904 ism was still rampant regarding Sel business, But the immense
 and earnings of the company Se prices of these stocks and 1t
 F be at all surprising to see
 1t considerably higher. Even
 Ammon there is a likelihood
 btion of dividends before
 ths past. The preferred
 generally regarded now a
 Int. dividend payer.
 Acific common an increase
 snd rate to per cent. is
 E. and there Is some talk of
 sdend besides.
 e many Wall street mar
 most of which are very .a.qss,s.. IS follows:
 spader & Co.,: Tt is pos
 notwithstanding the re-
 Advances made during the
 h had intervened since last
 e time when the market
 lowest level, that the full
 f the enormous crops and
 ngs of railroads and indus
 prises have not yet been
 sted in our market values
 writing the advances have
 hvy, as compared with these
 b warrant the closest scru-
 perhaps discrimination, ir
 aections, both for investment
 ative gain"
 6he & Co.,. "The bull move.
 all the appearances of going
 ftocks are now at the highes
 jecord It is probable we will
 f prices in 1906, but we fee
 market may have violent re-
 sorn time to time
 ros. & Go: Tt seems blair bcks are still lodged in strong land that there is unbroken con on the part of the larger inter &who are controlling the marke tion at the moment. More or les! ggularity must be expected, but th' Arket gives no sign of continuation End unless there .s selling of more s%orce and more improvement than a present, reaction will be only tempora ry.'
 Bartlett, Frazier & Carrlngton "Tht strength of the market during the pas | few days shows that everything is SC 1 rene and strong, that there are nC weak spots in the situation, that stock are concentrated in strong hands, ant l that the prosperity of the country find l a ready reflex in market prices. w, understand that Union Pacific is sur, of a per cent. dividend at the nex dividend meeting, and that an extr; l dividend Is also probable"
 Carpenter, Baggot & Co.,: Tt look now as if the bull market might be con 1 tinued in full force for a while It il our opinion, however, that profit should be taken on any pronounced rise, as distribution will surely be at l tempted" "
 Robert Goodbody & Co.,: Except fo the possibility of action by the treasu ry there is little reason to look for return of easy money conditions in tn near future."
 1 Henry Clews & Co.,: "This imitation l in the stock market is really tn weakest spot in the whole situation Credit has in many cases been undul, extended, and some of our banking in stitutlons are loaning too heavily ol questionable collateral. Bank loans i, New York stand at about s1,0OO, 0OO, 00t which is practically double thei amount ten yee-s ago. The difficult. is Wall street has over-discounted tn situation; and it would not be surpris ing if some degree of contraction or re | adjustment were enforced during 1906 | the speculative situation on the stocl exchange being anything but satisfac tory"
 A NEW YEARS PRAYER.