The daily morning journal and courier., 1907-05-06
FEATURES OF
 STOCK MARKET Prevailing Sentiment That Prices Are Not in Line
 With Money Rates. THE BANK SHOWING Current Low Loaning Rates -Atchison's 5 Per Cent.
 Bonds Steel Trust.
THE BANK SHOWING

Bonds-Steel Trust.
 The stock market despite crop scare talk and some poor statements of earnings by railroads did pretty well last week and there has been an in creasing sentiment that securities are out of line with money rates; that the crisis of a month ago had only local bearing and will not cause any un- favorable business results.
 It is known that trade has not been alarmed by the Wall street dis turbance. that copper has recovered 1-2 to S-4c. of it's 1-2c decline that the producers of pig iron are consider ing a $4 ton advance in price and that the United States Steel Corpora ton had 100000 tons more of unified orders on it's books at the end of March than in the previous quarter of 1906. It is yet to early to kill the wheat crop by rumors, although no doubt there is some damage to it. Then there is 275,O0O.O0O bushel reserve of wheat lfet over from last year and Eurooe wants our wheat, her crop outlook be- ing poor
 Some Wall street opinions are as follows;
 Miller & Co.,: "We still believe that the tendency of the market is dis tinctly upward, and that purchases should be made regardless of day-to- N day fiuctuations.''
 E. R. Chapman & Co.,: i've sthl fail to see any evidence of a desire to create more stable prices, and, until this becomes apparent, we advise trad ing only for turns, always favoring profit taking sales on strength"
 Chandler Bros. & Co.,. "The market is in the hands of skilful lot of nianpulators, who, caring very little for actual conditions, except to safe guard them in their final position, are creating special movements up and down and increasing to this extent &C., tivity in the general market"
 H. L. Horton & Co.,. "The market is professional, and we do not look for anything more until better line is had on crop conditions. It will be easier to hazard a guess after the pub ilication of the government crop report on the 10th of this month"
 Marshall, Spadef & Co.,: "The secur- ity list appears to be gaining friends, and this may be partly the result of confidence of investors, but perhaps also caused by increased freight tariffs and excellent net earnings, reported up to this time.'
 Harris. Winthrop & Co.,. "As soon as the railroads of the country can borrow on a per cent. interest basis they will bid eagerly at those terms. Judging by the improvement and con- struction work held up pending a fa- vorable turn in money market affairs, 1t seems that the railroads would glad ly apply for $20O,OOO,O0O if it could be secured at per cent Although no such borrowings could be financed at this time. the financial situation IS betterng so fast as to suggest the gradual restoration of conditions that will make possible the absorption of good railroad bonds at an earlier date than many have been led to expect. " A. o. Brown & Co.,: "The bank state- ment was not up to expectations. It had been figured this morning that some loss in cash and fairly large in crease in loans and deposits would be shown, but the figures were larger than had been looked for. However, if there is no material hardening of rates on Monday, the effect is likely to be only temporary, and if crop news is more favorable a better market is probable next week"
 Frederick T. Adams, who has lately returned from a western trip which took him to the Pacific coast:
 "They talk about the importance of New York, but really 1t seems to me it is the importance or the west lndt should be talked about The wealth of the whole country is growing SO that we no longer can talk about financial cor eentration at New York.
 Everywhere T went I saw indica- tions of great speculative industry, w!,ieh the Wall street panic had not affected in any way. There is a tre- mendous demand for labor every where"
 R. c. Lawrence. of Grannis & Law reEce:
 "The market is still very profess s:onal and the covering of shorts has given special strength to the situation this week The new issue of Atehison bends is regarded by many as a bear