The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-18
Local Financial Gossip;
Bankers and Brokers' Talk

One of the prominent local bankers made the
following statement yesterday concerning the
outlook in the money market: Taking all things
into consideration 1 don't see that there is good
reason to believe that money will be so very
easy next year. 1 hear a good deal Of talk about
and there is a good deal OF this kind OF senti-
ment in the dispatches from New York. in some
moneywise and industrially. is analysed care
fully and all the details are taken into consid-
Grafton the soundest conclusion is this, think
that we Will have TO spend several years catch
ing up now before We will see generally the low
money rates OF the past six years There is not
ket to make money easy. A large number OF inn
mense Industrial projects-to cost millions anc
milliorts OF dollars, are waiting for the money
market TO get into such a condition that they
can be- financed. There will be a big demand
into consideration and with them the fact that
there Is much more capital I'm permanent in
think it will be wise to expect an easy money
market, or low rates. This does not mean. how
market. Not that at all; there will simply be a
demand equal to the supply of loanable capital.
into what 1inanciers term the easy condition"
X
David. r. Forgan, president of the First Ma
tional Bank of Chicago. says there is little like
lihood Of easier money in January. The loaning
demand in Chicago is strong at 8 per cent
Meyer & Kiser have the following from Bart
ett-Frazaer's New York house: 1T was an
nounesd yesterday that the steel Plate ? has
formation, We venture to predict that a cut IN
steel bitets will go into effect ina In a s short slms;
this q~utrter will show a large falling on
A w. Thomson received the following from
his Wall-street correspondents yesterday AFTER
noon: 1.-THE passage of the Cuban reciprocity bill
millions to the Havemeyer interests and
Company are looking forward to a stock dividend
the s seg,ia a5d Tp TtnSes. rse Coal Il a big snort interest
There is little that can be said of yesterdays
stock market. Trading was of a dull and
feablreiess character and fluctuations were con-
fined within narrow limits: There was prac-
seemed disposed to even UP their contracts. due
to the approaching holidays. Manipulation was
Amalsamaued Copper and Brooklyn Rapid Trans,
IL. The gossip ON all these stocks continues very
S u ,sh n and insiders R predict denny mu fadr hishe the prizes pSes
chase of any OF these stocks at the present level.
as each has had a sharp advance in the past ten
days. The good railroad stocks are the ones, in
our opinion, which will gradually work higher.
and we believe that the purchase of this class of
securities will prove profitable. We still are in
clined to lean to the bull side. but would advise
p BARROW Sak ons on an shS after aiiei as the s1' h holidays . : r. =
Thompson * Co.
The subtressury has lost 81. $780, 900 to the New
York banks since last Friday. Conditions con-
Iinue favorable for a good bank statement to-
morrow.
The passage of the Cuban bill is a good thing
for Wall street. The general opinion on market
conditions is unquestionably bullish. The short
interest has increased considerably during the
past week, especially in Copper. The volume of
trading until after the holidays Is expected to be
comparatively small. Trading ought not to be
done too extensively. The market will be pro-
fessional.-Portefield & Co.
A bear on stocks says: 1.-The quicker the pub
lie lets this market react. the sooner the reac-
ton win be over. The bear crowd Is powerful
enough TO carry Its point and IL 1t cannot create
a reaction adequate to the rally in a short time