The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-22

The market in the afternoon session showed a
its of trading which was entirely natural. The
latest from London stated that the Eastern sit
market closed fairly strong. with the pressure
to sell fairly relieved We do not look for any,
view of the approaching holidays.
Meyer & Kiser
NEW YORK, Dec. 21.-There was a very evil
dent holiday tone to the trading in the stock
market to-day and Developments were In the
main uninteresting. The market was purely a
professional one, lacking all semb,anco OF cut
side interest and being particularly narrow
throughout There is not very which
to base the hope Of any Immediate change one
way or the other, in the market. and II is
will suffice to bring about any definite tendency.
The undertone of this market is sufficiently
after the holidays. but the steel situation con.
tinues to be an Irritating factor Mere 1t no, not
the canal news. which is apparently develop
The De ac hsf the 10 IS s #
must be Remembered that all possible evii
;,dngs have been ,s more or less and
ing concern is more less OF an absurdity So
far as the rest OF the market is concerned the
sect to the exhiration OF manipulation. The
fractions can be for ,Ss tsc, at
pursued during the past month or s9 There ,d rs
obvious reasons. Steel preferred eased of con.
during e the day nd ss,sa
Of this stock was important. The Car Equip,
Ilent stocks and American Locomotive had a lit
ton. The industrials generally were barely
steady. The railroad list was sluggish and
market at times eSidenced tendency to "r lag.
and traders were not inclined TO disturb its
of in the news and f is not poss
BILE to predict possibilities for the next few
days. The money market continues to work
IPorterfield & Col
NEW YORK. Dec. 2l.-The market to-day was
peculiar In its irregularity. The professionals
pounded Steel preferred at the opening. but 1t
supported at times. Final prices showed
point decline from Saturday in this stock. The
railways erratic, up. others of
fraction. The foreign complications and lower
cables had some influence that was bearish. On
the other , hand there was considerable bull news
vanced several points under the lead Of Della
Se an nad car The on the that Ss
mand for their output would increase after jan
nary. and also on the favorable report Of Amer:
lean Car Foundry, which insures the dividend
on the common Pennsylvania supported
and was steady around llS. Brooklyn was bought
advanced g. In tie eolsins hour there wa:
se pI0 which, hs resulted sss IN na
ways profitably.
IA. r. Thompson g. Col
was manifested in the stock market to-day, CO.
incident with pressure by London and bear OPP
orators who were in fear of trouble in the East
breaking into hostilities. But the market DEM
onstrated that large interests were. while in
active, If you please. the bull side at least,
ready to check declines. Speciality movements
upward were feature and American Locomo-
tive, to which We have called attention. was
prominently strong. We believe II will go high
Floor traders reported that they found il
easier to bull than to bear stocks and the out
look Is for some Improvement the remainder Of
the short week. barring very unfavorable devel-
opments One of the important developments to-
day was the tendency in the money market
toward further ease, rates being quoted still
lower and with the prospect of continued heavy
cotton shipments, followed by grain shipments.
70 draw gold from Europe in addition to the
s22 600 900 already secured. There is little doubt
that the first OF the year will witness extreme
relaxation in money rates. and a rush by rail-
roads to issue bonds which is not a bear argu-
ment, for the reason that IL means heavy ex-
penditures and employment for labor now idle.
With the resultant prosperity and Increased
traffic. In view of these conditions and the prob
ability that serious trouble will result in the
Orient strongly recommend the purchase of
cifc is earning, according TO the yearly report
forecast issued to-day. about 10 per cent. on its
stock. and is being bought for investment. We
also urge the purchase OF Southern Pacific, St.
Paul and the coalers. There is something of
Importance impending in connection with the
latter, and informed that Keene Is
likely to put them much higher.