The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-17

1.-THE gain of ss1,45i, SIS in clearings by the In
dianapolis banks and trust companies this year
over last years showing. is an index to the
growth of this city's manufacturing interests
and general business. and the growth of the
banks during the past year" said a WASHINGTON
street banker Yesterday. THE big gain In the
clearings of this year over 1902 has not Deen
or by a number of transactions, swelling the
~olearings for any week or month TO an aonormal
i rgur corr e96 oy meafb Is gam ye e4en The business
OF this city Is developing and growing all the
time and this fact Is shown by me statement
XXX
A.. ". Thomson received the following mes
sage from his wall-street correspondents yes
terday afternoon: I'VE believe we VIII pass
through this month without encountering any
that the stock market will develop shortly into
a broader market, with general Improvement
in prices"
We don't look for much more than a good
scalping stock market the remainder of this year.
The payment of more than $50 900 TO Standard
oil gas stockholders without any disturbance TO
the money market Is favorably regarded; Inere
is much bullish talk on Amalgamated Copper
-Porterheld Sc Co.
The subtreasury has lost 81. ss7. 900 to the New
York banks since last Friday. More money Is
going into New York from the interior than Is
being shipped out. and the indications are that
the bank statement Saturday will be a favorable
one.
The undertone of the stock market is good. and
the innate strength OF the market prompts the
prediction that operations on the long s side are
Meyer & Kiser.
The Security Trust Company may reduce its
capital stock to 100000. The recent capitaliza-
ton is 5000. o0O--s5 600 paid in and 10000 UNI
issued. The directors have practically decided
to reduce the capitalization to SOC. 900. 1t is un-
Would such a move be legal? If the reduction
would be legal and the auditor Of state would
favor the move. il is understood the capital Will
be reduced in a short time The Security grus.
cent. payable Jan. 1.
It was announced at yesterdays session Of the
stock Exchange that the Home bfewfng COZ,
per cent. semi-annually. The company. was first
;,nSa ,ss upon a s per cent ons dividend aesF aSo D tss ai Sat
dend was reduced TO 5 per cent.
XXX
Yesterdays stock market was the dullest affair
seen in a long while. Trading was in very light
volume. and was mainly professional in charac-
ter. No new features developed which would
larger traders in New York leaning to the bull
ern railroad stocks and believe they will work
higher before the end of the year.-A. r. Thomp-
son K Co.
Moneywise two things seem reasonably clear
with respect to the future: One Is that unless
money rates ease materially and the supply OF
floating capital is augmented. a great deal of
manufacturing work Will be postponed; the other
is that IL money rates do ease. and it is possible
to raise new capital on favorable terms, a great
deal Of manufacturing work will go on in con-
necticn with railroad improvements. The con-
clusion would seem to be that failing great de-
preston I'm other lines of business, good rates for
money will probably rule for months to come.
The demand of the railroads for money in con-
nection with improvements and engagements
have attracted universal attention in the past
few months. II is very clear that for some
time to come the process of increasing track
facilities. equipment. terminals. yards and SO on.
will continue. An immensely of work is planned