davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

PRIVATE WIRE ADvICES ON
CONDITION OF SECURITIES.
stock Market Displayed Much Strength
/ the Last Day Before Christmas
Outlook Good.
Ia. w. Thomson.l

NEW YORK. Dec. 24.-Market opened strong
and ignored lower prices for Americans In
London. The market, a whole, showed q
strong tendency to advance The conspicuous
movements among the specialties The
traders were disposed to even up contracts.
and most of the afternoon session was given
up to the holiday Belief is steadily growing
that after the first of the year large invest
ment for bonds and dividend paying stocks will
spring up and give a stimulus to market
Meyer & Kiser.l
NEW YORK Dec 2i.-There was a great
deal of strength displayed in to-day's stock
market and movements consistent, IL not
spectacular or peculiarly interesting. There were
no developments that might be construed as
indicating the operations Of any particular
group and the market narrow, profess
sional and at times extremely dull. Some ami
nation was manifest in few specialties. but
this was not sufficient to inspire activity
throughout the list. The tone of to,days mar
ket was good and suggestive of future good re-
suits. It is extremely doubtful that any bull
movement of aggressive nature will occur in
the immediate future. But 1t seems reasonable
to suppose that the drift Of the market will be
toward a higher level Several very strong
spots developed during the day. Sugar seemed
strong and scored a good advance and the trac-
tion stocks were very strong ~. me steel issues
no intimation OF weakness. Baltimore & Ohio
suffered a little from the disastrous wreck on
its line. Rock Island stocks We're steady, but
fuctuated within a narrow range. Consolidated
Cas- Peoples Gas and General Electric were
very strong Louisville x Nashville scored a
good advance and Realty preferred advanced
rather sharply. The movement OF the two lat
ter stocks may be attributed TO operations OF a
Western Spectator Copper was firm
IA r. Thompson & Col
NEW YORK. Dec. 24.-The stock market was
strong again to-day. under the influence OF sew
eral factors. notably the bullish necessities of
the professionals. the oversold condition. the
prospect for a good bank statement and the in
creasing investment demand. The market
broadened again to-day. but the investment
purchasing was prominent in the high-class is
sues. AS these issues rise a little high
er investors will give attention to the
lower grade securities which move more slowly.
but are OF sound worth. We therefore. recon-
mend that attention be given more to such
issues Louisville & Nashville. Missouri Pa
ciic. which was strong to-day. and promises 10
do better Southern Pacific and ST. Paul Cur
rency movements for the week show that thu
banks have gained up TO the present time about
81 900 900. including In the neighborhood of
about s.. oooO 900 from the interior. This insures
good bank statement for loans hardly in
creased during the week. we shall probably
Money showed further ease to-day and the
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
LLith the Grain Brokers;
Present Market Conditions

ton from the standpoint of European demand
and the worlds crops for the high prices of
comments on the influence of American markets
abroad and on the fact that while American
wheats are hard to buy. American fours are ia
liberal supply. condition which gives added
proof of the correctness of the claim grain ex-
porters have been making that the miller Is get
sing all the advantage in railroad rates this
m rsxiew of Dec 10 says The
have daily advices OF firm and advancing mar
the scarcity of good milling wheats and she
competition by millers to secure the necessary
grain On the other hand, find that the
Probably create fresh record he for sin viii viii
shipments 10 Europe-especially to this country
said to be the with the raw material. there
article. The puzzle is this-good American
wheats cannot be bought within measurable
wheats. but American -four can be sent to this
country in enormous quantities to compete with
cheapest available wheats in the world The
solution of this puzzle we leave to wiser heads
than ours"
The government report giving the final figures
On the crops OF the country will be issued Mon
day. 1t may have very considerable influence
on the wheat market. The government has been
assuming the spring wheat yield at about $50
ooOooO bushels II this should be reduced II
would Of course, influence the market consider
doly. III mas not Deen the custom for the WASH
irgton authorities vary their final corn feures
much from their November and so IL is nor
likely the corn figures will be much changed
from the Zoo. 100000 bushels announced last
month.
Baltimore exporter wires that he is getting
requests from recent European buyers of corn
10 delay shipments. which is regarded as an in.
dication that there is a very keen dema nd
on the other side just at this time for our corn
Primary receipts yesterday-wheat Lis 600
bushels; corn, $1,000 bushels. Primary shin
ments of wheat. 31S0 900 bushels; corn ss7 600
Clearances yesterday-Wheat. 215,ooo bushels.
-four. 5000 barrels: corn. 245 coo bushels: oats
ID, 0c0 bushels wheat and -four, 1,i67, 900 bushels
Kansas City receipts of wheat yesterday were
2s5.SOo bushels e1.ooO bushels larger than the re-
ceipts the same day last week The ST. Louis
receipts amounted to $4,000 bushels. agains,
49, 900 bushels the day last week Min
neaI,olis yesterday were $50, against 379 the
same day last week. The Duluth cars also
showed an increase over the same day last week
Finley. Darrell & Co. wire to A. r. Thampson
& Co.-There continues a fair export demand for
wheat. In Kansas City. where receipts are
heaviest, cash market Is strong; stocks not in
creasing. Weather wet wheat belt: no
snow. Severe cold weather would cause appre-
henson. Expect 10 see wheat hold within mar
foreseen happens. Weather bad for movement
and grading OF corn.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
Al PEP CENT ON SAVINGS ACCOUNTS

in wheat and shorts were conspicuous buyers
with commission houses on the same side moder-
piaiats Of soft corn and low grading and move
ment increasing. The seaboard reported fifteen
loads for export.
IPorterfield & Col
CHICAGO, Dec. 24-The wheat market to-
day was one of great strength. May wheat
made a new record. crossing SIC. Naturally the
squirt was due to short covering The fear of
war in the far East over Christmas created an
uneasy feeling in the bear camp. and as DIS
cretion is the better part of valor," they took
to the tall weeds and covered. Usually the ex-
pected never happens and We believe those who
ings will realize profit. The statistical stua-
ton has not changed and although Armour con-
peat itself the same as in the Letter DEAL 1t
is easy to buy, but 1t is hard to unload.
Ia. r. Thompson g. Col
CHICAGO. Dec. 24.-The wheat market has
been very strong to-day. The uncertainty has
been the fear of shorts that there might be some
warlike developments abroad over the three days
holiday. Because of this fear there has been a
very general covering and advance of 1c. The
May sold as high as sac There not much
else to the market except this fear of some
thing warlike and the general covering which
consos some lower. But all markets advanced
together. and all receded some from the top De-
the Winter ysi wheat belt. The minneapolis flour
news was that the holiday dullress was being
felt. Minnea polls reported small country offer-
ings and a good demand for good wheats. Over
SIC there was great deal OF wheat for sale ana
some reaction.
There has been strong corn market with the
price helped by the wheat strength. and also by
the wet weather throughout the West The
market at its best I2c TO &c higher. There
a little reaction from the top along with the
rest of the list. Cables were higher There was
q good deal of covering. and there was supposed
10 be buying by Armour. The selling was
ty local longs, and here less SELL
ing against privileges The Price Current says
there was much complaint of soft corn. The
cash corn interests appear rather bulish.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
TRADE IN GENERAL.
Quotations at st. Louis, Baltimore,
Cincinnati and Elsewhere.

ST LOUIS. Dec. 24-Flour steady to firm; red
winter patents. si25GiS5; extra fancy and
straight, So 90d4. 20: clear 81. 40d36 Timothy
meal steady at $50. Bran firm sacked. east
track. 7s9S9c Hay quiet; timothy. sedl2;
prairie, s5fle.5 90. Whisky steady at 81 81 Cotton
ties. 81. o. Bagging 5s4@6izc. Hemp Irvine. sc.
Pork higher; jobbing. So. Lard higher;
prime steam 1856. Bacon steady boxed extra
shorts 1885, clear ribs. $50; short clear, 81 rs
Receipts-Flour. 1900 brls; wheat. i63, 900 bu;
corn. 1900 bu; oats. 1900 Blu. Shipments
Flour 1900 brs: wheat. 5000 blu; corn. 50 900
blu: oats. 81 blu.
KANSAS CITY. Dec. 2I-wheat-December
s7zc: May, 70iSm70Ac: cash. No. hard. 70e7lc:
No 3 66d69c; No. red, S2NS3c: No 3. 1SGSic.
Corn-December 31Ac; May. 375sQ3sc: cash. No.
. mixed 3s136i1c: No. white, 36q57c; No. g.
&c Oats-No. white. 36d37c No. mixed, 81
635c Receipts-Wheat. 209. 500 bu: corn. 81 300
bu. oats 1000 bu Shpments-Wheat. 155, 200 bu /:
corn 90 900 bu; oats. 10000 blu.
CINCINNATI. Dec 24-Flour quiet Wheat
Arm: No red. 9oq91c. Corn quiet: No 8
mixed fsc. Oats steady; No. mixed. 3sq3Sizc
RYE firm; No 2. &C Lard steady at So 32ls
Bulk meats quiet at S. %. Bacon steady at IS
Whisly-Distiilers' finished goods steady on the
basis of l.27. Sugar easy.
DULUTH, Dec. A-Wheat-To arrive-No. 1
hard seize: No. / northern. sic: No. northern
northern. 7s,sc: No. spring. 75izc; macaroni No
/. &c: No. 2 6sc; December. soc; May, S24e
Oats-on track and 10 arrive. 25xc.
TOLEDO. Dec 24-Clover seed-Cash. 81; De-
cember. 81; January. "; February, F.osh;
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

NEW YORK. Dec. 2f-Butter-Receipts. ssss
packages The market was.quiet Extra cream
cry: 2se; creamery. common to choice. l5G2sc:
Cheese-Receipts, 25s3 packages. The market
was quiet state full cream. fancy small
colored, September, 12c; late made l0c; small
white. September. &c., late made. i0c; large
colored. September. 12c: late made 1oc Eggs
Receipts. 3.55s packages. The market was quiet
State and Pennsylvania nearby average fine
Gee; state and Pennsylvania seconds TO hrsts
30d34c; Western frsts. SEC; Western seconds to
nrsts. SOqs4c; refrigerated, 24d2sc.
PHILADELPHIA, Dec. 24.-Butter quiet but
STEADY; extra Western creamery. 25ikc; extra
nearby prints. &c. Eggs. dull and lower: fresh
nearby &c at the mark: fresh Western 32c loss
on; fresh Southwestern, 31G32c, loss OF; fresh
Southern. sec, loss off Cheese. steady; New York
ful creams, fancy. u%c: New York full creams
choice. llikc; New York full creams fair 70 good
l0%dl1kc.
CHICAGO. Dec. AL-On the Produce Exchange
to-day the butter market was steady: cream
cries. l6q2Sc; dairies. Hd21c. Eggs easy at 2s6D
2I1zc at the mark. cases included. Cheese steady
KANSAS CITY. Dec. 24.-Eggs firm Missouri
and Kansas, cases returned. 25c; new No 2
whitewood cases included, Csc.
CINCINNATI, Dec. 24-Eggs steady at 23a
soc. Butter quiet Cheese steady.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

evil Of large surplus in the treasury vaults
this condition is not favorable when II is Gre
TO extravagant appropriations by Congress. For
the fiscal year ending in 1905. the secretary s
as against $50 GOO for the fiscal year ending
June 80. 1904. He figures out a deficit in the
s2s Ooo. 900. -
The head Of large railroad system says:
Business next spring will. TO large extent
depend upon the ability of the railroads to raise
additional funds on favorable terms No one
who is not closely acquainted with railroad
needs has any idea Of the extensive require
ments that exist for bridges. new tracks and
equipment II the money market develops reas-
enable ease. a great deal of railroad work viii
be contracted for and the steel Industry VIII
feel the benefit Of it very quickly. If the coun-
try is not going to grow in the future as It has
mistake, but 1t is not mistake on any other
tn ths aToa as mot SsHe the is
to do business in these times"
Porterheld Co.-The year approaches its
close with considerable encouragement to in
vestors. Retrospectively we see a year peculiar
~ disappointing to holders Of stocks. but look
ing forward the future presents a very optimistic
view. The year 1904 will be ushered in with easy
money, big cash balances in the banks, good
crops and higher prices. Everything, almost,
lars viii be disbUrsed in dividends. and this
money will seek reinvestment. This feature
alone Is a bull argument We advise buying
stock
Meyer & Kiser-A good statement is expected
Tomorrow. The year to date has been some
what disastrous to holders Of stocks. II is about
time now to regard the year 1908 in the stock
market as d matter of history. The coming year
Is likely TO be recuperative one
+ +
Rock Island man who is in a position to
speak with authority, says that the Rock Island
bond issue. likely to come up on Jan. Z. has not
been abandoned. He says There has merely
been a revision of the original plan, which
tor an authorized issue of s250. 900 900 OF bonds
The plan likely TO be presented Jan. will
include both the unifying of existing Rock Island
bond issues and the reimbursement Of the treas
ury Of the Chicago, Rock Island & Pacific Com
pany for various expenditures for rolling stock
equipment and improvements of all Sorts which
have amounted 10 about $50. 100000. All of the
bonds that may be issued will be for the benefit
of the stockh olders of the old Chicago, Rock
Island Pacific Railway Company, and any
financing that will be done will actually improve
rather than impair the value of that security,
which forms the basis of the entire existing
Rock Island organization"
A. r. Thompson & Co.-Price movements in
the stock market yesterday were insignificant as
Is usually the case before a triple holiday. The
undertone OF the market, however was strong
with the traction stocks and Sugar the leaders
we can only add what We have already stated
that 1T our opinion the market is going higher
ana we advise the purchase of all the active
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

The price for No. red wheat was advanced
cent yesterday, to ss,a cents, a new record high
price in the local market for this crop. The
market is 2z cents higher than the quotation
for No. red the corresponding day last week.
also 2Is cents above Mondays quotation There
is little demand from the millers for wheat for
immediate deliveries, and the advance this week
Is due largely to the strength In the option mar
kets The prospects are that the local market
will be still stronger next week or soon after
Ian. /. as the local mills will begin early In the
year to run at full capacity. The hou h nus-
ming of the year.
The advance in the option wheat market yes
terday was due largely to short covering.
Traders are loath. under ordinary circumstances
to carry a short line of wheat. or corn either
for that matter. holiday unprotected
And the situation in wheat just now Is more
dangerous for the short seller than 1t ordinarily
is. In the first place. the holiday this year Is
longer than usual-three days without market.
If the Russo-Japanese trouble should assume
definite shape before Monday. and three days is
time enough for good many things 10 happen
in the Eastern situation, and the prospects
should become definite for war In the
meantime the market would. in all probability.
open up Monday 1c or &c higher. such condl-
line of short wheat over unprotected, and his
losses would be much larger than II he bought
against his short line yesterday and prepared
for an advance The May option very strong
Yesterday right from the start and advanced TO
S44 cents, the high price for AMY on this ad-
vance All week there has been good deal or talk
to the effect that there would iikely be much
short covering the last day before Christmas.
These predictions materialized TO very large
extent for IL Is thought the advance yesterdaa
due almost to the short covering. Short
covering itself might not have put the market
up as much the advance yesterday amounted
to- The Armour interests undoubtedly helped
much nn as possible for their projection over the
holiday III the Russ0-Japanese situation does
sha cftt ION
look less like war on Monday. ii is at all
improbable that there will be break in wheat
Monday or early in the week.
The effect OF war between Russia and Japan
would have on the American wheat markets is
this: that Russian wheat exports would be great
Iy reduced by a war and the demand for Ameri-
can wheat would therefore. be much larger.
and the price would accordingly be higher than
when Russia is exporting her normal amount
wheat
Chicago trader says: Local wheat specu-
lators are paying attention to the posi-
bility Of between Russia and Japan. Rumors
are current that there had been buying of flour
and Of provisions in this market either by the
japanese government or by japanese merchants
The vague. but coupled with he
report from Montreal that there had been buy
ing OF flour there for Japan, they suggested that
SUFFICIENT volume on the Pacific and might
become liberal buyer at Atlantic ports.''
houses, F. Lenders. which can see little justinca-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
Local Cash Market Stronger.

The local cash wheat and corn market relied
stronger yesterday. advancing Ad1c. The range:
Wheat stronger: No. red. Ss1zc track; No.
red. Ss,kc milling freight; No. red. SIC track;
December. sec; wagon, SEC.
Corn stronger; No. white. 41lsc; No. white.
H1sc No 4 white sslzc: No . white mixed
Ahc No white mixed, 41c No white mixed
39Ac No. yellow. 40l5c: No. yellow, 40l5c
No yellow ss11c: No. 2 mixed. 4hc: No.
mixed. 4lAc; No. mixed, 3s1@c; ear, 4oc; wagon
market, 45Q50c.
oats steady; No white ESQ., No. 3 white
371kc No mixed. SIC: No. mixed. 36izc-
Hay nominal; No. 1 timothy, sl1; No. 2 timo-
thy, $40.
inspections-Corn: No. 3 white. 10 cars: No.
white, Z; No. white mixed, ]; No. yellow, j;
No 3 mixed, Is; No mixed, 4; no grade, 3;
ear. 3; total. AZ cars. Oats: No mixed. / car.
WAGON MARKET
Receipts Of corn and hay liberal; prices un-
changed.
Corn-Per bu. 54656c: new, 45650c.
Oats-Per blu, 3s940c.
Hay-Timothy. sl1Gl2; clover. TGs; mixed.
ssae.
Sheaf Oats-Per ton, ss01o.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
Government Receipt. and Expenses.

Calling attention to the fact that the recei,t.
Of the government the first five weeks OF tie
fiscal year are only little more than a. COO o,o
over the expenditures. the waIl-street Journal
says These facts justify the words OF Presi-
dent Roosevelt In his annual message tina, 4, A.
cs great moment to exercise care in econor,v
OF appropriations in order 20 prevent our In
come from falling below the point required An
order 10 meet our genuine needs. The question
may fairly be raised whether the expendltprss
OF the United States government are not in
creasing at a more rapid rate than the resources
% the country warrant In the past twenty
years the governmental expenditures have in
creased u per cent, while the population has
increased 81 per cent. The per capita OF en-
penditures in 1883 was 1914 and IN isos n 4.
Sc. %. In the past twenty years the Der ca milo
wealth OF the country has increased a per cent
and the per capita circulation OF money ahouf
81 per cent In the same time the bank c,ear.
ances in New York have increased 81 ner cent
IL will be observed that while the cos,n,r, 4.
population and in wealth has grown enormousiv
In the past two decades the expenditures on IN
government Fave Increased ct stil more rapid
rate.
This country with it's 81 zoo 600 OF fnhahi,art.
which have not Yet been developed needs a.
course. a government which shall not be rar~t-
mon.ous. and no doubt the money which Ia heln~
rivers and harbors Is money which Will ultimafe-
~ bear good fruit In the further EXPANSION AZ
the United States: and yet this expenditure 40
placing large burden upon the people OF to-
day for the benefit. In part OF a generation "a
come. IL may well be considered whether ths
expenditures OF the government compare fairly
with the increased resources OF the people and
whether We are not being &c some extent
ing upon tho situation"
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
NEW RECORD HIGH PRICES
IN THE COTTON MARKET
Short Covering and Manipulation Car
ried Prices to Highest Figure
Since the War.
TBy A. r. Thompson & Co.'S wire.I

NEW YORK. Dec 24.-To-days cotton market
was very strong in the morning hours. prices
reaching the highest figure since the war. The
buying came chiefly from shorts and the New
Orleans and local bull contingents. The larger
operators took profits around the higher prices
-aEd room traders followed. The bull leaders
ssemed to he willing to concede a reaction. This
encouraged further selling but the undertone
has shown decided strength throughout. II is
confidently predicted that cotton futures will
sell above IA cents in New, York before the end
OF the year. Many conservative members of the
trade are looking for sharp reaction and are
advising their customers 10 buy IL such a reac-
ton occurs. but are at the same time advising
against the short side of market. The re-
ceipts to-day continue we'll above last year AS
heretofore the legitimate Influences are receiving
very little consideration The range:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25
BROKERS VIEWS ON THE
WHEAT AND CORN MARKETS
Wheat Advanced to 81 lac ON I'm
easiness Caused by Eastern War
ClOud-Gain LOst-COrn Strong.
Meyer & Kiser. ]


CHICAGO, Dec. 24.-The war cloud in the
East, which is evidently causing considerable
uneasness abroad. carried May wheat to S4Ac
before its force exhausted. The long
interest was buyer early and the local crowd
gave the market it's momentum the adj
No opposition was met until SAC was
touched, when longs started realizing. From
live market with big trade the pit fell into
dulness the last hour and the gain lost
Generous rains through the Southwest were a
bearish feature, were the better Northwestern
receipts and the Northwestern Miller. The lat
ter shows falling off at Minneapolis in the -four
output The seaboard reported fifteen loads for
export.
Corn indirectly affected by the war rumors
through their effect on the wheat market, and
by weather over the entire belt. This
will delay movement temporarily and was re-
garded as bullsh feature. The long interest
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

Cash quotations We're follows Flour was
dull and easy. Wheat-No. spring. 79dS0c; No.
2 red S2% GS6c. Corn-No. 2, 42c; No yellow,
431zc Oats-No. 2. 34l3d34Ac; No. white. SAG
3712c No. rye, 5213c. Fair to choice mailing
barley. 44q55c. Flaxseed-No. !, CSC; No. l
Northwestern. 81 Prime timothy seed. $3.50
Clover-Contract grade. s11.25. Mess pork. per
brl, sl2dl2 12h. Lard. per 100 lbs s66711q6.70.
Short rib sides Qoose), s6.12hQ6.37t. Short
clear sides (boxedl. s6.37A9s.5o Whisky-Basis
Receipts-Flour ST. 600 brs; wheat, "a, 700 bu;
corn. 235 900 bu oats, 239 800 bu; rye, 1900 bu;
barley, sc. 800 bu. Shipments-F1our. Sc 500 brls:
wheat, sc. 900 bu corn 116. 500 bu oats, 129, 800
bu; rye, s, 200 blu; barley, IA. 500 blu.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-25

March, S-O1ia: prime alsike. se65; prime timo-
thy, $l40 Wheat-December, sec; Nav s7Ic.
cash, sec - '' S'<S'
MINNEAPOLIS. Dec. NEUTRALITY-SUSPICIOUS..
SOci May, S2ssc; July. S2lkQS2A: on track No
nard, S5ssc: No. northern sl7s: No. northern,
1s3sc; Nc northern. 7OG76ikc
MINNEAPOLIS. Dec. 24-Flour-Ffrst nat
ents, At5q455; second patents. A3oa4 20; frs,
In bulk, sl3 75Q14
LIVERPOOL. Dec. A.-Wheat-Spot finn: No.
red Western winter, Is Sd. Corn-Spot STEADY.
American mixed. As %.
BALTIMORE. Dec A-wbeat-Decs,,h.-
sc; May, SHE Corn-January. 4std4shc; De.
cember. 49, @49ikc.
MILWAUKEE. Dec. A-Barley-DuIl; No z
CSC; sample. 36660c I"