davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05

terror during the week and although this is
onset to some extent by the loss to the SUBJ
treasury, IL Is believed reduction In loans will
hermit small Increase in surplus 1t is impor-
tant 10 note that money is not only slowly COM
Ing from Europe, but the interior is now ship
ping heavily to New York, and IL is probable
that there will be break in money rates here.
This, in conjunction with the investment demand
Tor stocks. will carry the market higher in prices.
we recommend conservatism for q few days,
In which stocks that have not had sharp ad-
vance should be selected on soft spots for turns.
IPorterheld & Co., Indianapolis
NEW YORK, Dec. 4.-The action of to-day
market is more than encouraging to the bulls
Everything on the list shows improvement. The
only laggards were those that had been boosted
earlier in the week The consensus of opinion
favors a further advance Railway earnings
continue to show Improvement. Iron and steel
Industries are getting more orders, economy in
all plants is being adopted and general pros
perity was never better Wall street the only
blue spot on earth, is looking up and the clouds
are disappearing. The fact that a sold at
$1,000 over former price is significant Buy the
market now and sell all reactions.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
BROKERS VIEWS ON THE
WHEAT AND CORN MARKET
Yesterday Was Another Strong Day tn
Wheat-News Of New Winter Wheat
Crop Most BuIlish Factor.
Meyer & Kiser. indianapolis

Meyer & Kiser, Indiana polisl
CHICAGO, Dec 4-Another cent was addec 70
the price of wheat to-day. The news which per
mancntly turned the market upward was regard
Ing the new winter wheat crop. The Ohio State
report says the plant did not get a good start
and the condition is placed at 7s per cent, COM
pared with 81 per cent. last month and 81 per
cent. year ago. The Northwestern news was
of both sorts The receipts exceeded those of last
week and last year, and cash wheat at Duluth
lost 1lzc per bu with the close of navigation
Considerable difference OF opinion prevails in
regard TO the country movement One message
states that yesterdays movement the small
Northwest tells US that North Dakota has not
much over % per cent of its wheat back The
bles partially responded to our advance ysster-
day; the first time for many days and the close
a. sma Estimated receipts @ srs
Trade In corn Is growing with the advance
and a builish sentiment prevails The coun-
Try is not selling freely: Local receipts are
to-day. The new corn was taken largely by the
glucose interests Three yellow sold at 45c
Demand for shipment poor mainly because moth
< good many spectators who missed getting
cheap wheat turning their attention TO
Ohio raised according to the state report 81 oco.-
last year. Seven loads were taken for export.
lAlbert r. Thompson q Co.. Indianapolis
CHICAGO, Dec. 4-This wheat market ad-
yanced &c to nc. The July made the best rally.
All the markets higher. but the winter
wheat points advanced better than the spring
The weather news was the factor. The official
ncencx Of rainfall through the ohio valley and
the upper Mississippi valley.
Early there was some selling OF the receiptss
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
SAFE DEPOSITS.

which somewhat exceeded last year. and on early
cables. which We're indifferent But the closing
cables were higher and the movement looked
comparatively large. Seaboard reported II loads.
The market was much broader to-day.
Cash corn has advanced ikc TO &c. and the fu-
lures have moved up about nc. There has been
an increase in the speculative trade. Cables
were higher There appears 10 have been a
change in the corn mood The Ohio December
report estimated the yield as G.00o,0o0 bu. COM
pared with lis. 100000 bu last year Private wire
houses were conspicuous buyers Selling was
chiefly proft-taking by local holders.
IPorterfeld & Co.. lndianApolis.l
CHICAGO. Dec. Am advance OF another cent.
with the May delivery the leader. is the story
of to-dsy's wheat market. The bulish influences
the continued buying by the big elevator
interests and the record-breaking demand for
-four. Minneapolis reports the greatest demand
in the history OF milling. While the receipts are
somewhat higher owing 10 the higher prices, the
Argentine harvesting conditions continue favora-
BILE: Still the domestic situation Is strong and
The professional trader is short. The Ohio state
report is bulish. cables are higher. and IL looks
as IL the foreigner would buy our wheat There
Is very little TO base sales on in this market
Cash corn advanced ic. and the futures fol-
lowed for half that amount The shorts
covered freely. The sentiment Is changing, and
the bears of last week are the bulls to-day. IL
looks like corn would scll higher tomorrow.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
CASH CORN PRICES ADVANCE.
General Increase Of 1-4c I'm Local Mar
ket-Eastern Bids Higher.

The cash situation is stronger. At the
Board of Trade call yesterday there was a gen.
eral advance Of Nc In the bids for all grades
of the new corn. The Board no longer quotes
the old. The advance here is due to Eastern
shippers having put their price up Nc the past
two days. No. white is now 40,&c and No.
white 40,sc The indications are that the mar
ket will have further advances during the next
week. Fifty cars OF corn were inspected yes
day, with prices unchanged from the previous
day. Oats and hay were steady. The range:
Wheat steady: No. red. SEC track, sec on
milling freight; No. red. SIC track; December.
&c., wagon, Sc.
Corn stronger; No. 2 white, 4okc; No. 3 white,
401c; No. Z white. 3S1c; No. white mixed
4oAc; No. white mixed. 4okc; No. 4 white
mixed. 3sAc: No. yellow. 4okc; No. 8 yellow
tokc: No. yellow. Sshc; No 2 mixed. 4okc
market. 45Q5oc
Oats steady; No. white. s7,sc: No white
&c; No. mixed CSC; No. mixed, 35ixc.
Hay steady; No. timothy. $1l5o; No. tim
othy, $40. 80.
Inspections-Corn: No. white. % cars; No
white. 10; No white mixed. 1: No. 3 yellow
8; No. yellow. /; No. mixed, 4; No. mixed
5; ear. 4; total. 80 cars. Hay: No. / timothy
car No. clover, /: No. / prairie, 1; total,
cars.
WAGON MARKET.
day, with prices unchanged.
Corn--Per bu. 54Q56c; new l6d50c.
Oats-Psr bu. 3sQ4oc
ssqs. '''''' f'@'' mixed
Sheaf Oats-Per ton. $500
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
Ohio Crop Report and Good General
Demand the Chief Influences to a
Rise Of q Full Cent.
CORN ALSO Is VERY STRONG
IMPROVED DEMAND NOTED FOR
NEW YELLOW CORN.
Oats Follow the other Cereals and
Close Hlgher-Hog Products Firm
After an Easier Opening.

CHICAGO, Dec. 4.-Cirain prices to-day con-
tinued on their upward course, the bulish Ohio
crop report being the chief incentive to the ad-
vance. May wheat closed 1c higher, was
up &qXc, oats were up &c and provisions closed
unchanged to SC higher.
The sentiment was again extremely bullsh In
wheat and trading was on liberal scale. Fears
of damage to the winter wheat through lack
Of moisture We're quite general among traders
before the session opened. and initial sales
May was unchanged to Nc higher at s1sGs15sc.
There was good general demand at the start,
and with only small offerings the price quickly
advanced to s21sc. when slight reaction &C.
CURED. The decline was due to selling by pit
traders. who had believe that the big
long was disposing OF part Of his holdings. Sell
ing the part of ST. Louis houses aided in the
setback. At the decline, however, there was
buying by commission houses and shorts and
the market again became strong. better tone
in late cables and the bullish Ohio crop report
stimulated buying during the latter part OF the
session. and the close strong. Final figures
May were at s2ssc. after the price had touched
s2Ac. Clearances Of wheat and -four were equal
to 426,SoO blu. Primary receipts were LOS. 800
bu. compared with sos.Ooo year ago. Minneap-
oils. Duluth and Chicago had combined receipts
OF 75s cars. against 1.1eo last week and 6ss a
There was a further advance in the price OF
Of 70 the bSsS
Ing OF better character than for some time
past. Buying was mostly by shorts. Small re-
ceipts an improved cash demand for new yellow
corn. and higher cables helped in the advance.
After opening nc to hc higher at 43c TO 4s1tc
May sold between 43c and 43xc, closing at $50
43&c. Receipts were 17s cars. two OF contract
grade.
Oats were active and strong. influenced largely
by the action of wheat and There was
some liquidation early in the day, but there was
no evidence of any selling by the big holders.
Small receipts and fair cash demand were
bull factors: May opened a shade to HQNc
and 3eAc closing at S6xQ3skc. Receipts were
LOG
to liberal receipts OF hogs and lower prices at
the yards. Later the market frmed up under a
good demand credited to shorts. The strength
in grains lent some support to hog products.
Closing prices were steady, with January pork
up sc at $1L05. lard unchanged $s.45 and ribs
&c higher at $5.S5.
Estimated receipts for tomorrow: Wheat, 100
cars: corn, 175; oats. l25: hogs, g. 900 head.
Leading futures ranged as follows:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
[Porterfield & Co., Indianapolis.
AT NEW YORK.
Grains Again Strong, Active and
Higher-Conee Easier.

NEW YORK, Dec 4-Flour-Receipts, e. $50
brls; exports, 1854 brs; sales. I4.7oo bris. Mar
ket irmer and held higher. Corn meal frm;
yellow Western. s1-93.
wheat-Receipts. sc. 800 bu; exports. 1924 bu:
sales, s.5ooo0o bu futures and 900 bu spot Spot
firm; No red. soAc elevator. sikc T. o. b.
ahoat; No. i northern Duluth. s4c, T. o. b. anoat.
Options had a strong opening. led by December.
after which they yielded 10 realizing for time
Then followed a second bulge. rumors Of .
bullish Ohio State report and less favorable
crop news. and the market closed very strong az
xGlhc net advances: May. ssx6ssc. closed at
s5Hc; July, sl%as2hc, closed at s2ssc; December.
cornm.5Rsseipss. 1880 bg: exports. ss.Ess su;
No white. s24c. Options were fairly active
and stronger asain to-day on further covering
Gisxc. closed at 4sxc; December. 50 ls-is05lhc.
sSos rn S6 standard sS white. s s sS
8, 4oi4c; No. white. 42itc; No. white. Ale:
'rf Hay Steady esppins, sO075c; good to choice
skqs2hc. Hops steady; Pacific coast. old.
coree-spot Rio firm; No; !. invoice. ssc: Mild
cline Of lo points under rsaiiIint; rather di.sp.
worlds visible supply for the month that was
under expectationsi the loss being about g. 600
some OF the local trade. Almost at once. how
ever. the market was steadied by a renewal OF
there was also considerable buying by houses
with European connections, which was believed
the market ruled active and generally firm dur
ing good Part OF the session. about 70 Is
points higher. Toward the close however, there
was heavy realizing and the market was finally
sTs wsrs Ssss points
$500 March. s.6sgs soc: April. $500 Sc; May.
TENDER 7.15G7 s5c: October. 1901 400: November.
s07 35c. The worlds visible supply is Is $50. 100
bags against 13 91S, Lei last month and L. III e01
bags last year.
sugar-Raw nominal; fair refining. 3s-isQsNc:
centrifugal, IS test 11-16c: molasses sugar,
l5-l6G3c. Refined quiet; crushed. 505c; pow
dered. SIC; graduated, 4.45c.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
LUith the Grain Brokers';
Present Market Conditions

The cash corn situation, both local and at the
principal outside markets, shows improvement.
The movement is becoming heavier, there are
indications Of an increased foreign demand.
and prices generally are advancing
Eastern exporters bid from Nc to ikc higher
yesterday here. for than the day
previous This is the first advance they have
made to discount the increased freight tariff.
Following the advance in the East the local
market was advanced &c yesterday on all
grades.
1.-The general cash grain situation looks con-
siderably better this morning" said Charles
Shotwell yesterday. There is a much larger do
nestle demand for new corn than a short time
ago. and from what 1 hear from exporters there
will be a considerable increase in the foreign
The other countries have simply got to come
here for their And the export movement
will grow larger still the first Of the year"
Louisville and New York and other outside
markets continue bid considerably higher
is practically wheat coming in here and the
shipping market IS in the same condition
1t is expected the visible statement next week
will show a decrease in both corn and wheat
Corn seems to have worked out OF the rut-
The general trade shows decided Improvement.
Continued light movement and Improvements in
the cash demand causes a change in sentiment.
-Milmine Bodman & Co. (Chicago) letter to
Cooper & Oddly.
Just $50 bushels Of wheat have been received
in indianapolis this week. thus far. on local
inspection. The wheat stocks will show even a
larger decrease than predicted early in the
week IL is thought now that the decrease viii
probably be between 5000 and $1,000 bushels
The millers have received some wheat on for
eign inspection, doubt but these ship
merts will not show IN the local stocks report
Cash handlers OF corn appear more bullish. y
Moves wires Albert r. Thompson & Co. .sThers
is a large short interest in corn"
In the wheat market the May delivery has
now taken the lead there being little activit,
now In the December. except manipulation b,
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
Local Financial Gossip;
Bankers and Brokers' Talk

Said an indianapolis banker yesterday con-
corning article in the London Statist ex-
planning why the United States must import
gold frequently. notwithstanding the large sup
ply OF the metal in this country. and in which
the currency system OF the country is criti-
cised extensively:
"A great many so-caled conservative people
are wont 10 call a man a crank and kindred
names il he comes forth with any plan TO
change the currency system of this country.
Especially is this true in regard to those people
who have supported asset currency bill. But
when foreigners. who have tried the asset cur
rehcy system and other kinds OF reformed cur
rency speak out and criticise the system in the
Uni United States then these so-called conserva-
currency system is adequate for all demands
ana needs no changes. are wont to open their
haps; Well here is a man who knows some
thing about the practical workings of the asset
than That R other in ou KIND on
be he knows what he is talking about. I will
give some thought to what he may have to
The London Statist. in its article on American
currency, makes these three points:
First-The national banking law requires every
national bank to keep. at all times. and under
all circumstances, a fixed proportion of its de-
posits as reserve In cash. This is locking up
Of immense masses of money all over the
United States 1t is. the Statist says indispen-
sable that banks should keep reserves, but 1t is
obvious that a reserve is utterly useless IL 1t
cannot be employed in time of emergency.
Second-The law which requires the issue of
national bank notes based on securities OF the
Understanding bonds of the United States.
The result or this is that the first of No
vember the total note circulation of all the ma
tional banks was about S420 O00 O00 or not very
much more than half the capital of the banks.
AT the same time that IL requires bond security
Tor note circulation, the law requires the same
security for treasury deposits in the banks of
government money.
Third-The treasury system needs reform in
that there Is no adequate way by which all of
the available cash balance of the treasury can
be deposited in the banks.
The following statement by the chairman of
the board Of directors OF the National Biscuit
Company will be Of interest to indianapolis in
vestors who hold this stock: 1.-The company's
net earnings for the current year have so far
been running ahead Of last year. notwithstand-
ing the losses from the labor trouble in Chicago
which losses were large. 1 no reason why
the statement Tor the present year, when COM
pleted. Will not show q satisfactory gain in net
earnings over last year. The National Biscuit
Company always has made conservative state
ments and always WILL and whatever next
statement shows is earned stockholders car
bank on is conservatively earned. We could
earn much more than do pursuing
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05
PRIVATE ADVICE ON
CONDITION OF STOCKS.
London Demand Caused Early
Taking Then Caused Weakness.
IA. w. Thomson. indianapolis. ]


NEW YORK. Dec. 4.-The stock market opened
strong and showed an advancing tendency
throughout the list London quotations for
Americans were all above close and pur
chases for foreign account were SO, 900 shares by
balance. After the foreign demand had been
satisfied the market eased of and on heavy
profit taking reacted a point.
The upward movement again started. led
by the fractions. Republic Iron and Steel being
the feature This stock has now advanced 8
points from yesterdays opening and about 20
since last month. Metropolitan advanced 3
roints. The most encouraging feature to the
shown in the United States Steels, doubt due
largely to short covering, but these In close
Steels. Notwithstanding the heavy profit taking
sales the market closed strong.
Meyer & Kiser, Indanapolis.l
NEW YORK, Dec. 4-Recessions in prices, due
to profit taking. were noted towards the close Of
the opinion OF the majority Of the speculative
fraternity concerning the innate strength OF the
market or the prospect of continuance Of bet
ter conditions.
The advance for the most part was steady.
ard it evident enough that it not all
due to short covering. 1t is well to bear in
beliefs and will not cover SO long as there is a
shred of hope that the market will react. This
is ingfained in him that it is difficult to Grad
icate IL.
A majority of the stocks scored heavy advances
to-day and the exceptions to the general rule are
those that did even better than their fellows.
Steel preferred was aggressivly strong during
the greater part of the day, reacting somewhat
in the latter trading. The traction stocks were
strong, with Brooklyn Rapid Transit as the
leader. That stock was particularly strong and
there rumors Of sale of big block of
that security The granger stocks particularly
Rock Island and Atchson, did remarkably well.
The trunk lines shared in the general better
ment, the coalers firm and strong and the
Industrial stocks benefited by the strength
of Steel preferred. The National City Bank to-
day secured for import 100000, and more Will
tAlbert r. Thompson & Co., Indianapolis
NEW YORK, Dec. 4.-There another panic
to-day for the bears in the stock market early
in the session. Wild scrambles were noticed in
United States Steel preferred and Republic Iron
and Steel. which we said yesterday would prob
ably move higher We think they should be
bought only on reactions for the present We
ferred. st. Paul, Reading. Southern Pacific and
Atchison. To-days developments show that the
short interest has largely covered far as the
urgency part Is concerned. The market should
now rest and harden for day or two before
resuming the upward swing which, we believe
will not eliminate for thirty days. There will
probably be good bank statement Tomorrow
The banks gained almost 50, 900 from the in
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-05

Armour to squeeze the short interest A short
time ago the December option was leading the
May is almost 1c higher than the December.
Receipts Of winter wheat at the four prin-
cipal markets the twenty-five weeks ending
Nov. 80. amounted to &c. 4o4 600 bu against So :
oo1 900 bu last year The receipts of spring wheat
twenty-five weehp enspx N dor tns cereal the
to S4ofIooo bu as compared with 1o4 s75 600 blu
last year Tor the same period
xxx
The Cincinnati Price Current saws: sTbe in
terror wheat movement is about normal: the
movement OF oats is light to moderate and the
movement or corn Is moderate, but increasing
XXX
The Northwestern Miller is bullish this week
1t says: THE -four output at Minneapolis Du
luth-Superior and thirty-nine other Northwest
points for the week was s6s ss5 barrels. equal
record breaking output. In spite of the smaller
supply IL is estimated 10 per cent more OF the
1898 crop has been marketed than year ago.
With the Northwest wheat supply smaller ara
the mills producing more -four than ever higher
wheat prices are looked for
Duluth exporter writes: 1.-THE holiday dull
ness will probably be against wheat prices until
after the turn Of the year at least. We can ex-
pect practically help from the foreigner I'M
how little spring wheat he will be able to get
this winter. He Is now of sufficient offers
of Manitoba the cleanup of TO
keep him under the impression II will be EASY
to buy this all winter, but he has an enlighten-
ment coming to him."
There has been OF late only one year. 1898,
which was the Letter year. when the spring
wheat supplies in sight were any ways nearly
small this season. The stocks at Mime
apolis. Duluth. in the Northwest country efe-
vators and at Chicago constitute the consump-
tive and speculative basis for the three big mar.
k,sts-Chicago. Minneapolis and Duluth These
total supplies this year now aggregate IL l27 go
1.246.0o0 at Duluth. s.s3s. 900 bu in the country
elevators ard 2.31s.0o0 bu at Chicago Last year
on Dec. this aggregate was 70. 353 900 blu, In
1901 IL was 49, 900 bu in 1900 IL was 20 7{S O0(
blu. in 1899 IL 40 900 bu On Dec l. 1898
the year Of high prices and the Letter deal the
aggregate Is $50 900 bu. In 1897 the total wa
z.7S.ooe bu and in 1895 1t was IS. 49, us bu.