The morning journal-courier., 1907-12-20

 terday with advancing prices, auguring well for the bulls, but proceeded to get dull and finally reacted, but not much 30. The advance was based on the prob ability of another improved bank statement tomorrow.
 Further, it was reported that the condition of certain trust companies which were helped in the crisis has so far improved that they have been able to repay considerable amount of the money then furnished to them. There was also received limited amount of currency from the interior and further more most of the gold now arriving a-~- from Europe stays in New York. At the same time the fact that some cash Is still going out is reflected in the continued 1rmness of the premium on currency.
 Another actor that early influenced I stock market sentiment fayorably was " the offering of $15,00o0N0 of the New | York city revenue bonds taken by a banking syndicate in September. Wall I street naturally reached the conclusion that the Morgan-First National bank National City bank people believed l that investment market conditions had Improved very materially or they would not have made their bond offer l Ing.
 The market however, was mostly marking time yesterday This contin- ued apathy, and the absence of the n1ore nrnIOnge] rprpyprv in nrirps which has usually followed the quiet ing-down of panic, is eXplainable this year, partly by the approach of the year-end demand on money which all ways holds down rise in financial values, but even more immediately, by the continuance of restriction on payments by eastern banks and by per- sstence of the premium on currency. G0n1bS, s
 1Tasfflg was wholly perfunctory and except for the upward movement in Northern Pacific which advanced at one time IA points above Wednesday, on speculative buying, the changes were for the most part umimportant Later, Northern Pacific sold off with the rest. of the market and most of the advance was lost.
 
 prominent in the early spurt There was dribble of bear selling, but it was not effective in causing prices to recede materially. Some of the im- portant bears were understood to have at least temporarily, turned bulls. 
 Some of the Amalgamated Copper, which has been borrowed by Boston houses, is reported to have been re- turned in the past day or two. These houses appeared to have turned in their market position or at least to have modified it to some extent.
 Although the regular semi-annual dividend of per cent. in cash was de- clared by Louisville and Nashville shortly before the close there were no transactions in the stock yesterday. Since the declaration of dividend by Atlantic Coast Line several days ago payable in bonds and causing set back in that stock there have been doubts in peoples minds regarding the Louisville dividend The latter com pany is controlled by the Atlantic Coast Line. Yesterdays action set at rest those doubts
 H. Content was an early buyer of Missouri Pacific. Wall street is very much interested in what the directors will do regarding the dividend on this stock The general opinion favors a material reduction. if not passing en- tirely. The bears assert that the action of the tape points to such a course. There was a report, however, yester- day that the directors would act be- fore this week ends and that the rate would be nearer the usual 1-2 pel cent. than otherwise.
 American Locomotive common was strong yesterday in advance of the dec laration of the usual 1 1-4 per cent dividend, about which there has beer some doubt in the minds of Wall street people The declaration had good eff feet indicating in the minds of many that the directors thought cont cGnoinua aS, that business would not fall off mucf more
 in Sugar yesteday,
 Tn Chicago money is easier, as indi cated by the action of several Chicago banks which have loaned several mil lion dollars in New York the past few days.
 New Haven road stock sold at 133 ii Boston yesterday and the rights a 5-1s; shannon 1-2 and Swift & Ca at SS.
 STOCK MARKET REVIEW. Day Characterised by Indifferent Deal
 ing -Action in Few Stocks.
 New York Dec. 19.-The atmos phere of the holidays began to gathe about the stock exchange to-day an' the tone of the dealings became dul and indifferent. The whole marke sare clear evidence of its narrow pro