The daily morning journal and courier., 1907-09-23
LATE FEATURES OF
 THE STOCK MARKET IA Better Sentiment All Along
 the Lines. MONEY CONDITIONS GAINING |Trade Outlook More Encourag- ihg-The Labor Situation The Coppers.

The Coppers.
 The stock market is taking on a more hopeful aspect The hood or liouidation appears to be over, the noanev situation is better, there is con eidarah hIe buying of railroad shares TOT Investment and the iron and steel +rada outlook is very fair with no r,rosnect of a serious slump in busi- pass The commercial agencies to-day aIso state that trade conditions in gen eral are vey satisfactory
 Tba Bank of England discount rate ls not only the highest this year put hetter than 1t has been this month sinoe 1904. This is full of meaning to 5 pur market in view of the possible ef- fort of New York to draw gold from .ondon. A trade balance of less than { s2 ooo oOO for August does not give any |2 basis for gold import discussion 10 pc kure. but daily exports ot $9VUVVo to k1 mo mo in wheat do. And the recent fau of 1 t-2c. to 2c per pound in cot v on wi bring the foreign splnners m to the market for a crop whose value s estimated at S650,00O 900.
 The influence of treasury aid in the natter of increasing government de- bosfts was definitely shown Saturday |yhen the weekly statement of condi- lion indicated cash gain of $4,529,2OO. Hrhis is twice as large as the known Lnovements suggested. A gain of good roportions was necessary in order to bffset the increase in loans of $S606,- boo. The net result of the week was a gain in reserves of $14s6. 400. This makes total surplus reserve of $S,- E5O, ,OO0 compared with 11,2l5,9S5 year ago, when gold arrivals were respon- ible for cash gain of $12,2O0,OOO and 5 bf $5, ,2S5 1000 two years ago.
 < Commission houses report a better & Inquiry from customers, particularly h the bond department, in which in- # estment purchases were, made both n the exchange and over the coun- er Bonds are selling in most cases It attractive figures for purchasers yho desire to place their money in afe investments. There is no good ' eason why people who have idle cash hould not put it in American railway nd mortgages and municipal securi- les
 A few opinions of leading New York ouses follow;
 Charles A. Morse & Co.: If the past < any criterion we shall before long be an investment market which will bad to activity of speculation on a lowly improving basis of prices.
 John H. Davis, of John H. Davis & o. "Circumstances spell out an in- teasing inquiry for standard invest lent securities irrespective of what heir bearing may be upon the more peculative issues. At this juncture, owever, it is of more importance that he investment situation should be re- eved than that bull movement in he stock market should be instituted" Prince & Whitely: "These daily teeping advances make shorts ner- bus and under more general de- and to cover; further improvement lay ensue and we think such strong bots should be availed of to dispose long holdings the same as the par Ps manipulating are doing because on Il advances there is evidences of Rreful distribution of stocks of all ITo 4c T luse for extensive or permanent im- rovement of securities"
 Boody, Mcclellan & Co.,: "On the hole there has been no such jar to eneral business as to be specially mo- |1sss ceable in leading lines of activity. cry few believe that the time is yet be for a boom in stocks, but many believe that the time has come to iy the best class of investments, and is buying and the confidence which will establish, will place firm undation under the general market" Of interest to many in this city and ate as well as in Washington, D. C.. altimore and elsewhere is the follow g important announcement made esterday by the Chesapeake & Poto- lac Telephone Co.,, company which ad It's origin in New Haven. 1t hay. .g been organized and founded bJ le late Herriek P. Post and others
 this city who were prominent ir unding the Southern New Englanc elephone company and there being al e present time quite number ot ew Haven stockholders of the com lny, included among whom are som,
 our most prominent citizens
 The telegraphic dispatch is as fol- ws:
 The consolidation of the Bell Tele. one company of Philadelphia, the snnsylvania Telephone company anC Chesapeake & Potomac Telephon pmpany, all licensees of the Anlerica' ell Telephone company, operating il uthern New Jersey, eastern Penn | lvanla, Delaware, Maryland, the Dis