The daily morning journal and courier., 1906-03-26
STOCK MARKET FEATURES
GENERAL TREND OF SENTIMENT
 IS OPTIMISTIC.
Notwithstanding the Chances of Coal striEe--Operators Have Great Stock of Coal Piled Up-Market Opinions.

The trend of the sentiment is opti- mfstic, notwithstanding the chances that coal miners strike or two is im- pending. The bulls point to the fact that a good many stocks have had a big drop from their high levels, such as Delaware & Hudson 5 points, New York Central p, Reading 95, Erie 10 points apiece and so on. The outlook for the winter wheat is all right now that the fields are protected by snow, which will later on provide moisture. Then the railroad earnings keep on be- ing great and the open winter has pro- noted traffic and saved the heavy out lays that come with heavy snow falls. The iron and steel trade continues im- rnense and the Morocco question is con- sidered disposed of safely.
 On the other hand the bears point to the chance of a long coal strike with its attendant inimical effects on rail- road business, steel and iron business etc. Then the bears claim that the in1- mense amount of new bonds and stocks to be absorbed Is no bull argument; also that money is far from being easy.
 A few Wall street opinions are as fol- lows:
 Bartlett, Frazier ts Carrington.-De- spite the positive statements that there are irreconcilable differences between the soft coal operators and miners, the belief seems to grow that the situation will not develop seriously, and that some settlement will be effected.
 Chandler Bsor. & Co.-We believe conservative effort is being made to keep prices from moving higher in or der not to disturb money conditions, which are gradually improving.
 Marshall, Spader & Co.--All funda- mentals, with which we are in close contact, are favorable, and W ewlll ap- proach the crop preparation season in good commercial and financial shape
 Carpenter, Baggott & Co.-A coal strike will probably not occur. Expe- rienee also shows that it is unproitable to sell coal stocks short on actual dec laration of strike.
 Watson & Co-E1ven if there should be a coal strike 1t has been discounted
 T. A. Mcintyre & Go. think a pool has been formed to send Reading high er.
 John G. O'Keefe, of Horton & Co., The market has distinctly better tone.
 Dick Brothers & Co.--We expect the market to show irregularity during the next fortnight, and nothing like an un- interrupted advance is likely. Never theless, the market seems to be well li- quidated and, believing that it's ten- dency will be upward, we advise pur- chases on all fair recessions.
 Henry C1ews.-The greatest obstacle to stock market activity at the present time is the undercurrent of mistrust, which began with the insurance inves- legations and has been steadily grow ing, owing to the persistent campaign against corporate and other abuses. This agitation, together with the hos tile attitude of labor, is creating an un- dercurrent of uneasiness which unless checked may easily assume more seri- ous proportions. Present condi- tions favor a trading market in which sales should be made on all good rallies and purchases on pronounced breaks. For the next few days much will de- pend upon the prospects of coal strike and the course of the money market