The daily morning journal and courier., 1906-07-21

sians-GOSsip of the Day.
 The stock market was lively and more yesterday and more buoyant also than for long time past
 The largest buyers yesterday were the professionals, who have been heav- fly short of the market.
 Despite the weakness in London in Russians, Wall street took the view that as the Douma had offered con- sessions the outlook in Russia was not so bad after all
 A very promising outlook for the bankstatement to-day, on account of the gain in cash this week of over $8.- 0OO,00O, was an influence contributing to the recovery.
 Anaconda rose by leaps and bounds during the last hour, reaching a price thirteen points above Thursday on fairly large transactions. Amalgamat- ed copper rose much more slowly. The rise in the former was suggestive of an effort to drive in shorts in Amalgamated.
 It was, however, such stocks as Union Pacific, Southern Pacific, Amal- gamated Copper, Reading and Penn sylvania that showed the most anina- ton. Very heavy individual purchases were made in them. It was very pos- itively asserted that Southern Pacific would get a 1-2 per cent dividend with rights on August 15.
 The action of the market in the market in the opion of some observers showed that it was of machine-made characteristic taking up of various stocks by groups-the selling of one set while others were being run up.
 The short interest seemed largest in Reading, Pennsylvania, Union Pacific Amalgamated Copper and St. Paul. The rise in Southern Pacific did not reflect covering. The shorts who had profits of from 10 to 15 points in some of these issues were not inclined to get very anxious over rally of or 8 points, and bought moderately.
 The persistent buying of Southern Pacific, which at times recently has been a. strong feature, and which yes- terday was taken in blocks of 1000 to 1000 shares. helped the dividend ru- mors.
 A significant incident was the sug- gishness of Steel common when com pared with the rest of the market.
 Southern Pacific was the first stock to lead the rally. It bid to 69 1-2 in short order, and later to 70, where it rested. At that price the tip was out that it would have a further advance.
 In banking circles there was some uneasiness regarding the Russian sit- uation. and the effect which anarchy there might have on the foreign mar kets.
 Prices were marked up so rapidly that it required strenuous bidding to 8get stocks. The bears had depended aon the Russian news and the strained lfinancial conditions to help them get Aback the ground they lost late yester- day.
 There did not seem to be much pub lie interest in the market. For the most part, the bears were the only buyers, outside of the cliques which ran stocks up,
 There appeared to be good evidence that Standard oil, City bank and Har- riman interests were quite bulIish
 Crop news and advices from leading industrial centers are reassuring. The dullness in stocks attending the attacks of the bears would seem to indicate light selling pressure. Hence, the mar ket Is ripe for some advance, accord- ing to stock market authorities" when financiers are willing to see it. But the street is imbued with the idea that an extended rise never occurs dur ing July and August
 The heavy buying in Union Pacific was from 145 to 146. Between IA 7-9 and 145, D. A. Montague bought 1O,- 900 shares. The popular notion was that the buying was for Hartman in- terests. Belief in per cent. divi- dend in August is strong.
 Russian bonds, some think, ought to be purchase to-day. The fall in British cOnsols-almost to the low level of the last forty years--is an incident of deeper significance. London is the one market where predictions of con- tinued easy money have been most positive the past few months; yet it is the premier English security which has fallen points during the period.
 A list of seven active stocks, includ- ing Amalgamated Copper, St, Paul, New York Central, Pennsylvania Reading, Southern Pacific and Union Pacific yesterday afternoon showed an average gain since Monday of points, Considerable of this has occurred in the past two sessions.
 National banks turned into the Unit ed States sufb- b-treasury yesterday S4,- 0OO,OOO of the special United States de- posits called in by the secretary of the treasury. This makes, with $3,O00, 900 previously reported, s7,000 900 out of the Sl0 900 to be paid back.
 The sharp fall in Russian 4 per cents at London yesterday brings these bonds to the low record price of their history II 1-4 Even during the riots of January, 1905. the lowest price touched was 7S, while the low price of the war S7, is nearly IS points above yesterdays low-record price. They sold at IS 1-2 week ago, and at 77 S-4 q month ago.