The Indianapolis journal., 1903-12-15
PRIVATE WIRE ADVICE ON
CONDITION OF SECURITIES.
Buying Orders for London Account
Caused Early Strength I'm stock
Market-PrOfit-Takfn
IA. w. Thomson, Indianapolis. ]

NEW YORK. Dec H-Nothng occurred over
Sunday in the way of news to disturb values,
and, Notwithstanding the pessimistic tone given
to the financial writing in the morning papers.
the stock market opened with better feeling.
1t advanced slowly but steadily during the
forenoon session. London sent a higher
range of prices for Americans and purchases
for that account were estimated at about 10000
shares by balance. more bullish feeling pre-
walls In Americans on the other side than was
shown here in the closing day OF last week,
and persistent buying for that account is en-
couraging The of the Northern Securi-
ties Company before the United States Supreme
there was considerable interet smanifested in
the arguments brought forth in favor OF the
Some little irregularity developed in the early
afternoon. showing tendency to take profits.
the leading railroad issues Southern Pacific was
the feature in the strength. and is easily ad-
identified with the company. The general list
led the advance up to the close, and the market
closed with good, healthy tone, indicating
further improvement.
Meyer & Kiser, Indianapolis.l
NEW YORK, Dec H.-Not even the most OPP
timistic had expected such display of strength
in the stock market witnessed to-day.
and the face that II a surprise naturally
exaggerated the expressed views concerning its
cause. 1t not runaway market. to be
sure. but it Sufficiently strong to be entirely
satisfactory. There were few stocks on the lis.
that did not show material Improvement. and
sentiment seemed to have veered slightly from
ishness. There was some irreguarity at times
but II was not sufficient to mar the general as
generally conceded to be good. Some of the
selling might also be included In that category
ren and on ns did no ee amy
certed attack on the market The tone of the
and Vigorously % maintained to the he. close Op''
Particular strength was evident in steel pre-
Of the trading Of the latter part of last week
The traction stocks resumed some of their old
pushed Ho To the fron union Pacc and %
ern Pacinc were very strong and attracted a
Union Pacific and Southern Pacific was very
suggestive. @ marked only by the suspicion that
Those who profess to regard st. Paul a
barometer OF the market must have felt to-day
are
Its advances. The trunk lines showed a firm
undertone, and the strength of Erie common
was such to arouse gossip concerning its
cause. Erie is again associated in rumor with
the Northern Securities Company, but 1t might
be nearer the truth to assume that 1t is thought
desirable to put the stock higher in view of the
fact that it has not been easy matter ~
dispose of the company's bonds. The Industrial
list acted very we'll, and the general tone 10 OF
ter prices tomorrow.
IA. r. Thompson & Co.. Indianapols.l
NEW YORK, Dec. 1.-THE strength OF to-
days stock market bears out our recommenda-
tions last week to buy such stocks as Southern
Pacific. Amalgamated Copper Erie Missouri
Pacific and Atchison on all weak spots. After
ar early attempt to raid the list the bear crowd
gave IL up bad job and turned to cover.
Much to their surprise they found a sold-oue
condition and had to bid sharply to get back
rose all through the list. We no reason
why gradual improvement of quiet kind should
not take place with the customary recessions,
for the fundamental conditions bullish.
Money is comparatively easy, and the absorp-
ton OF good securities by investors goes on.
With but little encouragement there will be
heavy speculative buying on the part OF West
ern people. who well supplied with cash. ac-
cording to our information. IL Is expected that
some of the large Western railroads who are
not holding back rail orders to get concessions
in price Will place those orders soon after the
first Of the year. stimulating business in the
iron trade, which is already picking In
the turn Of the year there Will be good de-
mand in general. When this condition Is con-
sidersd in connection with the & prospect for
to expect the stock market 10 discount such
a favorable aspect by advancing
IPorterfeld & Co. Indianapolisl
CHICAGO, Dec. H.-There was O misconnec-
tion somewhere the bear train to-day and
the low-priced goods promised to be delivered
to-day miscarried In fact. there was con-
siderable uneasness in that crowd and when
they found that the shrewd investors had stud
led the situation over Sunday and concluded
that stocks were a purchase they only made
feeble attempts at raiding the list. The open
ing shade under Saturdays prices. but
In fve minutes the room was filled with COM
Pacific. Missouri Pacific and Erie showed
advances. ranging from 81 to s. a share. Soon
and general improyement followed United
States Steel and Pennsylvania. which were ex-