The daily morning journal and courier., 1907-12-09
LATE FEATURES OF
 THE STOCK MARKET Advance Rapid, But Prices
 Were Low. SOME FURTHER ADVANCE Then a Reaction-Times Are Not Ripe for Big Bull
 Market.

The stock market outlook Is consid- cred favorable for small further ad- vance An attempt to rush things will not be approved in present financial conditions.
 The bank statement Saturday was encouraging and disappearance of the premium on currency is soon ex- pected. lAn excellent feature in our foreign commerce is found in exports of wheat in the large amount of 6,1S2,- 900 bushels, which duplicates the pre- vlous great record of the year only a ' few weeks since. This accentuates for arer statements of competent authori- ties that Europe will want every bushel that we can spare, including all the reserve from last years Crop. The weekly reports of corn ran up to 1,1S7, 200 bushels, the highest point of the season. Coincident with this improve rent in our export trade, imports of foreign merchandise show reaction from the recent high level
 The recent rise was not due wholly to shorts covering Substantial inter- ests were behind it. The bond market moreover is waking up--another good omen.
 Some of the opinions of prominent Wall street houses are as fallows:
 J. s. Bache & Co.,: ''The evidences of mending this week are the dwindling of the currency premium, the reassur- ing recovery in the Bank of England statement and the reflection of coming restoration of prosperity in the upward tendency of prices for our splendid Industrial and railroad enterprises as represented on the Stock Exchange, There may be however, but fair weath4 CT is on the way.
 Grannis & Lawrence: We would take profits now on the active stocks which have had the largest advance and buy some others equally good that have been quiet.
 Boody, Mcclellan &NCo: As the sea- son between now and January 1st is a season of general preparation for Jan- uary 1st settlements, we are inclined to believe that we must wait for the new year before witnessing any large improvement in monetary affairs. It is our belief, therefore, that but little more can be expected in the market than an opportunity for such turns as may occur on daily fluctuations. No decided stand is likely to be taken by either investors or spectators until the new year brings it's revelations.
 Prince & Whitely: As general con- .ditions, financial and commercial, here and abroad, appear to us, we think they will find chances in the not distant future to invest their money to better advantage than pres ent level of prices offers to them and strong. spots should be availed of to realize profits on speculative holdings.
 Dick Bros & Co. say: "We have been pointing out the danger of buy ing stocks after the rapid and exten- sive recovery which the market has had. Neither the money market nor commercial and industrial conditions throughout the country can be safely Ignored, even though the technical stock exchange situation may seem to warrant further advance. We think ic likely that stocks will improve as money conditions improve, but we ad- wise purchases only on reactions.
 Carpenter and Baggott: Those who operate on margins should not over extend themselves, as there are still financial and political bridges to cross, many of them not over strong.
 A. o. Brown & Co., say: Tn the ab- sence of unfavorable news over Sunday it seems likely there will be further improvement"