davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

Except in pig iron." says the Iron and Ma
ehinery World, the market lacks interest. 1t is
q season of perplexity TO the buyers. IL not to
the Sellers and the extended deliberations OF the
latter in New York this week indicates that the
producers. That whole lot OF new business
Is tied up. waiting for something substantial and
permanent in the matter OF quotations, is be-
coming evident IL Is illustrated this week in
pig iron. the prices of which believed by the
trade generally To be close to earth, IL not, in
deed plowing up burrows in the subcost soil.
foantsi ymen commonly reporting this week
that their own trade Is materially improved. In
Quiriss tor castings larger and the outlook
Tor activity oeciuediy more encouraging. The
obvious. ne Hnal consumer has him
self become convinced that prices are now down
close 10 TIT minimum anu ne Is prepared TO
pace has orders
fSat in steel and the various unfinished
products there lurk uncertainty ana qualms. and
Till conditions are more propitious. In some lines
there must soon be an end 10 the delays and
1rresclution. The maker of implements who
markets his pI 00ucts, say, July i, may postpone
where ordinarily he might start up in October,
but he cannot put on the initial moment OF ac-
tlvity until April ], tor sufficient time would
not remain for him 10 manufacture enough
goods. There has been much OF this kind OF
eelav fer the iast three six months but trav-
cling men who have been visiting TIE scores OF
manufacturers OF medium size throughout the
West and exchanging opinions ana with
them say that In January there OF neceS-
sity be large gains IN the purchase OF iron and
steel material from that class % customers. They
have been waiting patiently week after week and
month after month for an expected reduction IN
prices. and. while they may be unreconciled 20
present levels. they must soon buy or go out OF
business The aggregate OF trade the past week
has
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
AT NEW YORK.

NEW YORK. Dec 2l.-Fiour-Receipts. es.sss
brls: exports. s.l64 brls. Market firmly held. but
no higher closing unsettled: winter extras 81 Is
ara. 40; winter low grades. s2sSQs.o. Rye -four
arm. Buckwheat -four steady. Corn meal daA.
Rye nominal Barley dull.
wheat-Receipts. i4o.i7s bu; exports. s.sss -
SPOT firm: No. red. s3Hc elevator. sisc T. o. y
anoat: No northern Duluth. sske Z. o. b. afossl
No / hard Manitoba nominal T. o. b. anoat. OPP
tions opened hrmer talk. Influenced by
higher cables and lower consols- They SUISSE
quently were weakened under small ciearances.
rumored Armour selling and liberal Southwest
CONTINUED ON PAGE II, COL %
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
LCith the Grain Brokers;
Present Market Conditions

The week In wheat opens with general condi-
tions much more bullish than they were Mon
day. week ago. During the last five days there
has developed a much liveler export demand
for wheat. This. Of course. has stimulated prices
everywhere and the general demand for the
cash stuff is somewhat improved over last
week Yesterdays exports of wheat. however
were not large-a little $1,000 blu. and IL 900
brls Of flour, making nearly 10000 bu OF wheat
This isn't a good export business compared with
the latter part of last week, when more than
leo. 900 bu taken in two days.
The visible. showing only 1s3, 900 bu increase
In wheat in sight over the statement a week
ago, and a. 900 bu increase in the corn in sight
over the statement last week. is very bullish
The wheat showing is bullish beyond all the es-
Inmates and very bullish in comparison with the
statement last week The increase last week
was 2265000 bu. The increase In corn is a. 900
movement. The Increased export business in
wheat last week had much to do with the in
crease being so small
The primary receipts of wheat yesterday were
1.172Ooo bu. falling OF of nearly 100000 blu
from the receipts the day last week.
Corn receipts at the primary points 55a. 900
bu. against s2s coo bu the same day last week
Primary shipments Of wheat yesterday amounted
a
corn. $4,000 bu. against 255 900 bu the same day
last week
st. Louis receipts OF wheat yesterday amounted
to 600 bu. against ISL. 900 bu the same day
last week. At Kansas City the receipts
amounted to 107. 900 Blu. %. 600 bu less than the
receipts the corresponding day last week. North
west cars yesterday were 967, against 1,l52 the
corresponding day last year
Export clearances of wheat last week from
Boston. New York. Baltimore. Philadelphia,
Newport News. New Orleans and Galveston
amounted to $4,000 bu, OF -four 900 brls, of
wheat and -four $4,000 bu
The July wheat the past week increased its
discount under May from 4i.c to SIC. Some peo-
pie consider IL a big discount in view Of the
rather unfavorable winter wheat crop outlook
But the discount is no more than 1t was at the
beginning Of the month. and only &c more than
IL was at this time last year. The fact that the
July Is a new crop proposition usually insures q
discount for II. compared with May. The latter
probably comparatively exhausted supplies: the
July sees new supplies from new crop There
Is this special reason Just now for liberal July
discount. i.iat the Armour interest Is supposed
TO have a considerable line OF July sold
hedge. and this puts some added weight the
new crop month. The bull argument this season
is that the present supplies are inadequate to &C
proves correct the July discount may widen still
further. The July Is always susceptible to cror
developments and continued lack OF moisture
In the Southwest or uneasiness over crop condi-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
On ommission Row.

Trade on Commission row was very brisk yes
terday. both city and country. and this weeks
business will be Of much larger volume than
that OF last week. IL yesterdays trade can be
taken barometer for the week. Monday
II usually day OF dizziness with the commits
sion merchants, bat the big holiday demand
the dealers in produce have been looking for
began materIalize yesterday. The weather
Is favorable To both city and country business
POULTRY AND EGGS
In the poultry and egg market prices hold
steady at last weeks quotatons-eggs, 2sc tur-
keys. &c: hens. sac. and ducks Sc The East
poultry and egg markets show considerable
more strength, and IL Is pretty hard 10 tell
whether there will be further advances In the
local prices before Christmas. whether they
viii remain az the present level IL is hardly
likely eggs Will be any cheaper before the end
OF the year. at least. Young turkeys here AT
1sc are probably little out OF line with the
Boston market. where the dressed product is
quoted at Dd22c. but leading dealers say there
plenty OF turkeys IN this section and that
there will not likely be another advance Last
week the price was advanced 10 l3c from lsI1c
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
Cash Wheat Stronger.

The local cash wheat market ruled stronger
yesterday a result of the strength in the
option market. Corn is steady and oats stronger.
The range:
Wheat stronger; No. 2 red. SIC track; No. 2
red, SIC on milling freight; No. red. SAC track;
December SIC; wagon, Sec
Corn steady: No. white, Ale; No. white.
Ale; No. white, 39lac; No. white mixed, 40%c;
No white mixed. 4O%c; No white mixed.
sse; No; s S,ellow; hSc; No; yeliow, axe; No.
4O%c; No. 4 mixed. 3Sc; ear, 4Olac
90 oats stronger: No white: ss,sc: No white.
Hay nominal; No. 1 timothy, Sill; No. timo-
thy So
iuspections-wheat: No hard, 1 car; rejected
/; total. cars: Corn: No white, "a cars;
No. white, 6; No. white mixed, /; No. 3 yell
low, J. No. mixed 8; No. mixed. S; no es-
tabiished grade. I: ear. 8; total. 4s cars Oats
No. mixed, cars; rejected, 1; total. cars.
Hay: No. / timothy. / car: No. timothy, /;
No. clover. 8: No. prairie. L; total. cars.
WAGON MARKET.
Receipts Of corn and hay liberal: prices un-
changed.
Corn-Per bu. 54a5ec: new. 45a5oc.
OatS-Per blu, SS64Oc
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
Local Financial Gossip;
Bankers and Brokers' Talk

year draws to close with stronger general
conviction that the stock market itself has made
full expiaticn for the excuses OF preceding
years.
In a manipulated stock market like the
on this advance considerable is heard of match
ing orders The purpose Of matching orders is
TO create the idea that there is more business
in the market than really exists. stock
grain market is dull proposition without any
trading in it but the professional operators.
A capitalist can order Broker A TO sell 1000
shares OF given stock and Broker TO buy
stock can be used over and over for the requi-
site deliveries, and will probably end in the
Instance there was an upward movement in
Rock Island stock. in which blocks of 1000 10
people the impression that somebody was TAX
ing large amounts for investment. After 81, 600
s ad hds she price @
Heved that the buyers were all arranged for be-
nobody else was in sight. The scheme was too
transparent An important recent instance OF
Pennsylvania. which involved the matching
down OF thousands of shares day. In addi-
ton ton to The matching there was great deal OF
nominally reached in the trading was ridicu-
ious. The most wholesale application of the
by the stock jobbing agent of the FIRST steel
syndicate"-a past master in tricks of this sort.
cess with the new steel bonds this autumn.
1t has been announced from Pittsburg that
the American Tinplate and American Sheet Steel
companies would begin operations about Jan.
1 as one corporation under the of the
American Tinplate and Sheet Steel Company,
having main Offices at Pittsburg w T. Ora
ham. president of the tinplate company, will
be president of the company, and c. O..
McMurtry, formerly president of the Sheet Steel
Company. will be chairman Of the board of di-
rectorS.
+
The Indianapolis Fire Insurance Company has
declared its regular semi-annual dividend of
per cent, payable Jan. 6.
Aside from manipulation of the low-priced in
dustrial shares the stock market yesterday was
practically featureess and of holiday charac-
ter. In opinion IL will continue until after
the first of the year, when, with the enormous
distribution Of money for dividends, interest,
ETC. We look to see much easier money rates
and gradual improvement in values. We re-
liably Informed that Missouri Pacific is slated
for much higher prices The forecast of its an
nual statement will show 10 per cent earned
on its stock. and we advise its purchase any
reaction We still continue bullish Union
Pacific. Southern Pacific and ST. Paul. and look
to see them sell higher in the next thirty days.
A. r. Thompson Co.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
DRY GOODS JOBBERS ARE
SHIPPING SPRING GOODS.
Manufacturer of Cotton Goods TAX
ing More Positive stand on
Future Quotations.

Dry goods jobbers have already begun TO con-
Germ themselves with spring business and con-
siderable merchandise for the spring trade Is
now being made ready for Shipment OF condi-
tions I'm general and in review OF the market
the past week. the Dry Goods Reporter says:
Cotton goods manufacturers have taken a
more positive stand with respect To quotations
for future delivery OF goods. New prices made
this week. of course, apply also 10 immediate
delivery mere handise. but distributors Will dis
pose OF few staple cotton goods for this sea-
sons use. advance advance. IL IA likely
that nrst-kand buying would have been more
active this week had prices remained unchanged,
but as the advance had to come sooner or later
considerable of the uncertainty is removed by
positive quotations. though the list is con-
piIeratly higher. Large handlers who operate
IN the first hand market appreciate the situation
ana fully understand IL. and IL seems certain
n any assurance of the permanency of these last
quotations were given, considerable advance buy
In would result The last advance In cotton
goods Is largely the result OF the government
crop estimate. and manufacturers are now
making a strenuous protest against this crop
uessiny." which they regard as harmful at
titles of spring merchandise are now being
made ready for shipment. including linens. white
goods silks. wash fabrics, and dress goods Holt
day trading I'm retail stores has retarded the
movement OF spring advance business, but pros
pect for a continuation OF satisfactory orders
after the first OF the year are excellent
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

tons on any score might increase the July de-
mand and lessen the discount
Inc fact that Armour has been a large buyer
of cash wheat In the Southwest is coupled nv
many with the increased export business as an
Incident of the bull campaign a determination
the prices attractive to foregners and
situation develops in the spring the great
scarcity OF wheat which the bulls are all count
tainty about Southwestern supplies some ad-
VIC claiming two-thirds of the Kansas crop
thirds Is still in farmers hands at least in that
s sscuon OF the State which raised the big crop
The wheat receipts at Minneapolis and Du-
luth last week were about 500 900 bu under last
years. and tended to confirm the estimates of
small spring wheat supplies The Kansas CITY
and St Louis receipts were about 500 600 bu in
excess Of last years. and were as bearish in
their suggestion the smaller Northwest re-
cepts were bullish. The total primary receipts
were about 1900 blu in excess OF last year
Inc clearances were slightly larger than year
ago. The increase in the buying of wheat for
export affected the market more than ANYTHING
else. Inc seaboard reported over 10000 bu
the crop. The business was in the low-priced
Kansas wheats, which have been dragging so
side bought about 600 bu Wheat OF this snse
during the week. and most OF IL go out by
way Vi the gull Inere was some conflict TO
the volume OF business but the figures came
from conservative sources. and the weekly clear
ances Indicate the reported export sales are not
exaggerated. There Is every reason why the
shipping interests should keep their sales as
much under cover possible, not to in
nuence the market when a possibility OF busi-
ness exists. and so as. not 10 advance ocean
freight rates
English authorities disagree as 70 the prob
ability Of wheat prices being maintained when
Argentina begins shipping from it's new crop.
F. Lenders of London. who reports the guam
tity of wheat actually sown in England only
about half what was originally intended, and
the total quantity of winter-sown grain is GER
tain to create a fresh record for smss.ness looks
upon the Argentine promise. which was before
the recent rains OF IS 900 900 bu for ex-
port. and says of the hg prices maintained in
this country: North American wheats are held
out OF reach. and from all appearances are
likely TO continue Americans seem deter
mined to make their market and prove
one thing they can be sure-viz.. that Europe Is
independent OF America America pro
fesses To be OF Europe. With the closing OF ravi-
CATION We may expect 10 see some lessenIng OF
supplies. but with the Argentine crop coming on
apace. with the Australian to follow in quick
succession. and the Indian showing excellent
prospects. there Is sign OF scarcity, although
grain and the influence which America still ex-
ercises on the mind OF other exporters will prob
ably be sufficient to counteract the tendency OF
prices to criTnble away the prospect OF Ar
gentine supplies which cannot reach Europe IN
large quantities until well into next spring.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

When the United States troops waiting
at Tampa, Fla, to embark for Cuba, in the
spring Of 1898, and the generals and colonies
and majors were sitting the verandas of the
big hotels all day long. smoking big. fat cigars.
Richard Harding Davis said the American army
going through the rocking chair period"
of the Spanish American war. The stock mar
ket is now in the rocking chair period'-that
is. II is waiting From the action of the market
will be on small scale and will be confined to
small fractions. not or points. This week and
in the stock market. Prices will not go much
higher. nor are they likely 70 be much lower.
What traders call the holiday slump is on
the market.
The year is closing with more cheerful feel
ing prevailing in business circles and a larger
degree of confidence in regard to the develop
ment of 1904 Were 1t not for the presidential
election. which is likely be warmly contested
upon issues less vitality concerning the
interests Of the markets. there is no doubt that
this larger degree of optimism would be &C
centuated. The developments OF the week have.
on the whole, been very favorable. The decision
of the pools in the iron and steel trade to main
ment report as to foreign trade in November.
the return Of money In large volume from the
ment OF gold has been Checked. and the evidence
of the intention of railroads illustrated by
Atchison. to maintain COURAGEOUS policy IN
these Developments have materially strengthened
The total arrivals OF gold far on the present
import movement have been So, 955. 40. and the
still due to arrive is S. 3e9 $50 total of
s22. RS, 900. New York banks and banking firms
have taken by far the larger portion of the
total. but Chicago. Boston, New Orleans and
San Francisco banks have also participated in
the engagements. This Is the first time In years
that Chicago bank has engaged directly gold
from London. General prospects indicate that
the turning point in the sterling exchange mar
ket has been reached and that the importation
of gold will be about over, for time at least
when the gold already engaged has arrived
Dec. 7 sterling exchange at the lowest rate
in years. Last week the market began to
harden.
After the first of the year II is expected the
bank reserves Will be further increased through
the return flow of currency from the interior.
SO long money market is subject to such
fluctuations in interest has been witnessed
during the last three years. New York $
pretensions as worlds financial center are
open To question and, indeed derison. 1t Is
held the associated banks should seize upon the
opportunity which promises to occur the coming
spring to intrench their position well above the
25 per cent. line which they are forced to MAIN
tain under the national bank statutes. The
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
PRIVATE WIRE ADvICES ON
CONDITION OF SECURITIES.
ON New York Exchange by Lon.
don-Close Fairly Strong.
Ia. w. Thomson.

NEW YORK. Dec. H.-London looked upon
the Eastern trouble more threatening and
reversed its position by selling about IS 900
shares I'm the first hour. especially OF United
States Steel preferred which declined III points.
showing but feeble rally before the close, Our
market acted very well In the face Of the Lon
don selling readily absorbing all offerings with
out showing much OF reactionary tendency
profits.
The railroad equipment stocks were advanced
on the more settled condition In the iron trade.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
leading futures ranged as follows:

Cash quotations We're follows: Flour dull
and steady. Wheat-No. spring S2Gs3c; No. 3.
7297Sc; No. red, S3dS7c. Corn-No.l 2. 42kc:
No. yellow 45c. Oats-No. 2, S5h@35Ac; No.
white, 35% Q37Ac. No. rye. 52izc- Barley
Good feeding. 35G3eiec; fair to choice mailing.
42q52c. Flaxseed-No. l. s3c; No l Northwest
ern 81. Prime timothy seed s.. IS. lClover-Con-
tract grade. s11.25 Mess pork. per bril- 81. 75@
1l.s7i1. Lard. per 100 lbs. $6471s@6.52,s. Short
rib sides Qoose) ss.l2kQ6.35. Short clear sides
tboxed). S. 2596.37h Whisky-Basis Of high
wines. $127.
corn pa 900 bu; oats, 159 500 bu; rye, 5000 blu;
barley, $500 bu. Shipments-Flour, 10. 800 brls:
wheat. % 400 bu; corn q. 400 bu; oats, CO. 200 bu;
rye, 1900 bu; barley, 6100 bu.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
LOCAL SECURITIES.

Another advance in the Indianapolis Street.
railway stocks and bonds the feature of the
local securities market yesterday. At the ses-
sion Of the Stock Exchange the Street-raiway
stock moved up Ia points. to 49, on the bid.
and the bonds advanced u point. TO SOla, on the
bid. The official quotations for the list OF stocks
nd
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
Poultry. md Other Produce.

Poultry-Young turkeys. 13c: hens SIC: cocka
&c; young ducks Sc. springs. &c: geese, Sc per 10
chsese-Wlsconsin isc; New York full creams
1Sc. Swiss, &c; brick. i4c; limburger l2c
Buttsr-sc; choice. l24isc: Elgin creamery
z8c: state, 24c
EKxs--Firm at zsc.
Feafhers-Prime geese. soc per ID: prime duck.
DC per Ii.
wool-LocaI dealers are paying for wagon lots:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

Van Camp Hardware Co. pref......... 80. 1o7
WATSON preferred Observation-Disclosures. 100 los
'BONDS-
Broad Ripple Traction 5s............... SO
Citizens Street-railroad 5s............. 1851 10
Del & Madison Co. Telephone $751;. 80. 90
Home Heating and Lighting Co. S.. -. 100
Indiana Union Traction 5s..,........... TN
indianapolis d Greenfield 5s......,..... -. 102
indianapolis & Eastern 5s............. -. 10Ols
1ndpls q Martnsvflle r. T.
Indianapolis. Col q Southern.......... 1919
Indianapolis Gas Company 6s.......... l021a l05
Indianapolis Street-railway 4s....--.-. s0h 81
Indianapolis Water 5s---..-..-.....-.... 80
Kokomo Railway and Light 5s......... 1914 1O1
Merchants Heat and Light Co. Esq.,. 1927 1903
New Telephone first 5s............-.-.-. s. 80
New Telephone second Sl1
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22
The Visible Statement.

NEW YORK. Dec. H-The visible supply OF
grains Saturday Dec. 10. as compiled by the New
York Produce Exchange. is as follows:
Wheat "a. 900 bu; decrease. $4,000 bu Corn.
es7 600 bu; increase "a 900 bu Oats. SSs2 900 bu:
increase, 252 600 bu. Rye $4,000 bu: increase.
ISL 900 blu. Barley 1884, 900 bu; increase, l2ooo bu
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

THE MONEY MARKET.
Rates on Loans and Exchange-Clear.
fnKs and Balances.

Rates on Loans and Exchange-Clear-
fngs and Balances.
INDIANAPOLIS.-Comm paper 6 per
cent; time loans. 5d6 per cent.
NEW YORk.-Money on call nominal: no
loans. Time loans steady; sixty and ninety days
5Q6 per cent; SIX months. 5d5n per cent: prime
mercantile paper. 51zQ6 per cent Sterling ex-
change steady, with actual business in bankers
"a 81: 40 for sixty days bills: posted rates ST. So
and 1885, commercial bills, $4Slhd4s1N.
Money Rates Abroad.
LoNDoN.-Money. s1194 per cent; discounts
3B94 Consols. SShGSSA.
PARIS.-Three per cent rentes. s7f 75c for
the account.
BERLIN.-Exchange on London, pom l2pf for
checks.
Markets for Silver.
NEW YORK.-Bar silver, 541zc: Mexican dol
lars, 421ac
LoNDON.-Silver bars. 2.Kd an ounce.
Treasury Statement.
WASHINGTON.-Monday's statement OF the
treasury balances IN the general fund, exclusive
OF the $3.50 900 gold reserve In tho division OF
redemption. shows:
Available cash balance .......... Sazs sa1 ssa
Sroio 113 $751; 7l6
ShNef 1855, POI
Indianapolis Clearings.
Monday. 1921, 7o5 80: corresponding dav last
year $SSs. IT'S 43: balances Monday sIs5 ISL 40
corresponding day last year, $l97 $50 81
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

Good medium merchantable unwashed. 17c;
coarse and braid. 15c: heavy merino logic;
half-blood. 12Q14c; bury and cotted, 12q1ic;
Western. pc.
Game-Rabbits. s1G1lO per doz. s1.1OaL25 per
doz for drawn.
Beeswax-3Oc for yellow. 25c for dark.
HIDES AND TALLOW.
Greeu-salted Hides-No. 1. TAG; No. 2, sac;
No. / calf. iOc; No. calf &c.
Tallow-No. l, SIC; No >, &c.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

Hay-Timothy. sllG12; clover. E9s; mixed.
500
Sheaf oats-Per ton. ssG1o.