The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1906-06-04
STOCK MARKET FEATURES
SLOW BUT SURE THE BULLS
MAINTAIN.
Bears Uneasy and Little Business Do
ing Except in speciaIties--sOme Mar
ket Opinions.

ket Opinions.
The stock market continues very
dull spot, except for the few profes-
SIGNALS, who are making money IN Inc
stocks they are putting up, like st.
Paul, Louisville, anda few others
The trend of opinion is that the mar
ket will go higher but that any. attempt
at fireworks in the market Will prlng
on trouble, owing to the money ques-
ton.
Conditions art too good to help the
bears out much. The crop outlook is
well enough, the railroads and factories
and shipping are driven with business
and the steel trade is humming
"A few opinions are as follows:
Henry Clews s. Co.-The immediate
outlook of the market Is for moderate
activity. With basic conditions still
sound the various cliques are sure TO
find favorable opportunities for brief
manipulation. No prolonged movement,
however, upwards or downwards, need
be expected while present conditions
last. A period of rest will serve to
check speculative excesses and permit
a gradual and healthy readjustment.
Should prices recede somewhat to a
lower basis no uneasiness need be felt.
On the contrary, on pronounced
breaks good stocks will be purchase
should present conditions last.
New York Globe-Call money has
loaned as high as IL per cent during
the week, but this rate has been ex-
ceptional, and due, as is we'll under
stood, to temporary circumstances. The
renewal figure has fastened around IL
to 3 ga per cent, which is certainly
other hand, the active Wall street in
terests would like very much to see
signs that time money was working
lower. Rates on this business, espe-
cially those for the longer maturities,
are still pretty stiff.
Marshall, Spader & Colt is nearly
sure that during the last two weeks
the market has absorbed in a salts
factory way holdings of stock bought
earlier In the month for the purpose
of sustaining the list. We must also
conclude that the absorption has been
by class of operators not easily dis
lodged from their convictions
Carpenter, Baggot & Cove are not
inclined, in view of these factors, to
take pesstmistic view, but are con-
servatively bullish, and believe earning
power and prospective higher dividends
make 1t advisable to buy such stocks as
L. and NJ, U. p, Atchison, Amalgam-
ated, and N. g. W., not forgetting low
priced stocks like Erie and Southern
railway, for these are good reasons to
expect campaign in the low and
medium priced securities in the near
future"
New York Mail-The high-priced
shares have failed as medium for en-
couraging outside speculation. When
ever the low-grade railroad and indus
trial stocks have been taken UP very
good response has been made to them.
If there is to be any sort of bull
market it will have to be created by
issues selling between SIS and $50 a
share.
George A. Ellis, jr, of E. F. Hutton
& Cove look with considerable sat-
isfaction at the dullness in the stock
market in the closing days of this
week, in that we believe a betterment
will be seen in values in the very near
future. Securities have passed into
strong hands recently.