The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-18

losses were scored. Dispatches from Japan were
more warlike and the bearish traders attacked
couraged tho bears to attack the market in dull
days. but very little stock has been thrown on
the market under these attacks. We believe the
market to-day has given evidence of good buy
ing.
NEW YORK. Dec. I7.-Bearish influences In
the stock market received some encourag cement
in the afternoon session to-day. when it was an
nounced that Atchison had sold $4,000 900 bonds.
the proceeds OF which are to be used for equip
ment purposes. betterments and the like. This
served to develop a reactionary tendency
throughout the list. and substantial declines
were noted in a number of stocks. 1t is just
as we'll to recall the fact that the assertion made
some months ago that Atchison was trying to
sell bonds. was met at that time by a most
vigorous and explicit denial. We must confess
THAT at that time We were almost persuaded to
doubt the accuracy of our own information. To-
DAYS official announcement simply accentuates
the idea that official deniais are very often based
on exPediency rather than on facts. Until this
day was steady. but dull. There was a good
undertone and sufficient manifest resistance to
movement might result on the development Of
any activity. There Is very little bearish am
she oppnr tn ds,s M Assh sslned ane to make eu a G pro sDur en
the short side. II Is not an influence that Will
after the opening. and the greater part OF the
s smsls ssssiSn o fqTnished wa no incident TslS Strong on interest fer 4
time. the fractions steady. and the railroad
tailed drive against Pennsylvania without ma
terial result. The Erie stocks were firm and
Industrial list during this earlier period in the
market was relatively steady. During the last
aoa pr fowev eased 'n off % to a co sUhiddInasb 20 extent sas.
The traction stocks sold down with particular
sa,ei s ssaS ar w railways .Sn rs ssecH Hs ,s suc 1ist as T St;
particular exception to this general rule was
Steel preferred. That stock. although selling
of somewhat. was generally strong.
IPorterfeld & Co.. Indianapolis.J
NEW YORK, Dec. 1.-THE market was steady
to strong early. Tie tip was to buy Copper
and the big Boston bull is out with a circular
that Copper will be the leader of the new years
market. After advancing one point there seemed
to be plenty offering. Sugar did not respond
to the Cuban bill as 1t was temporarily dis
counted. and profit taking followed. The mar
ket was purely professional. United States Steel
was the most active and or big lots advanced 81
tics were pursued as yesterday and the market
sold off some.
lAlbert r.. Thompson & Co., Indianapolis
NEW YORK, Dec. II.-Professionals now have
control of the general movements in the stock
market. and fluctuations are, therefore. narrow
and tantalizing at times. But we have reason
to believe that speciality movements upward will
be in order. 1t is evidently the intention of the
powers that be to take a rest for a time. possibl,
until after the holidays, but movements like tina,
In Consolidated Gas to-day lead the list upward
and deter short selling, which is not likely tC
be OF much avail at the present owing to the
oversold condition OF the market and the lacI
OF liquidating pressure. Inherent strength wa,
plainly manifest to-day. and there is no reason
whatever for not buying good railroad stocks or
all declines.
We are very bullish on Consolidated Gas. not
withstanding the rise il has had, and believ,
that the Investment purchases will form a foun
dation on which to base a movement to 200. W.
also believe that Copper will 90 TO so on tn,
present movement. 1t Is a speCfalty which car
be advanced without much trouble, as insider.
are known to, hold most OF the stock. We rec.
ommend Southern Pacific. st. Paul and Missouri
Pacific among the railroads, believing that they
are the best. The prospects for a very favorabi.
bank statement cannot fail TO be taken note of b,
the professionals, and We believe that improve.
ment is in order.