The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-16

The most conservative bankers and financial
publications continue in their attitude that the
general money market will not be very easy in
January. The local bankers were advised yes
terday that there is a slightly easier tendency in
the Chicago money market. but at the same
time they were given to understand that the
leading fnanciers o. that city do not look for
distinctly easy money. The following summing
up Of the money situation, as ~a'whole. in the
current issue OF the Financier, is regarded favor
From present Indications II appears probable
mat the drain or money from this center 10 the
south and particularly to New Orleans. through
direct shipments ana transfer by treasury order,
VIII continue In greater or less volume, not only
Tor the remainder OF the year, but Wen INTO
January. because Of the high price OF the cotton
which will be moved. from the plantations to
from this center to Western reserve cities is APP
parently at an end and money is returning to
Goes not seem to be any large return flow OF
currency to this center from the principal West
probably Will be later this season than in previ-
Gus years because Of the fact that the outward
M MoEeo8en, t 1egan ref at 6 later eur period m fnsn be- ssu de.
layed by reason Of the active business require
ments at the Western centers incident to the
that expectations which have recently been en-
tertained OF easy money in this market, II not
the year. will not be realized and that the
average rate at call at least will not be much
The local brokerage houses report that their
customers show a considerably more active dis
position now to buy investment securities than
they have for a long time. All the brokers re-
port a good inquiry concerning securities. es-
pecially the stocks and bonds dealt in on the
local Stock Exchange. But an active market
here is not looked for until after the first Of the
new year.
A. W. Thomson received the following from
Logan & Bryan yesterday afternoon: THE SELL
ing in Steel preferred and Pennsylvania has been
overdone. The shorts have yet to step up the
stairs and settle. The buying OF Erie is much
more significant than appears specifically. The
underlying strength is great. The suggestion
that Colorado Fuel and Iron may be receiver
shipped will invite an attack on that stock. Re-
member this. Standard Oil interests bullish.
City National Bank continues to import gold.
Don't cross purposes with Rockefellers."
Continued pressure was brought to bear on
Pennsylvania and United States Steel preferred
again yesterday. causing a slight break in each.
TO the bearish attacks on these stocks as here
tofore, which augers in our opinion the fact that
the rest OF the list is gradually cutting away
from these stocks. While We would not be sur
prised to see lower prices in both. owing to the
lieve that anyone who buys the Western railroad
stocks will have the opportunity of getting out
with good profits on the January rise, which. as
history has shown, has occurred every year. We
continue bullish on and advise the purchase OF
Copper and the Eri eH' ON a nnciff Further aeaetiont@
A. r. Thompson & Co.
xxx
The forthcoming report OF the State auditor
will show that in Indiana during the year
twenty-five new State banks and seventeen trust
companies have been established. These figures
and trust companies organized the last year over
any previous year. Notwithstanding the increase