The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-19

lieve some long stock was taken by those that
representative Steel men who have just COM
pleted their work for the year ensuing. drive
causing a III per cent decline in this stock.
However. very little came out. While there was
no news to explain this particular movement. 1t
was stated that the sponsors for this property
have been financially tied up for some time and
WAS done hv ,Sas se ra6n,a ~ - allaviate their
strained position. But we do not look at the
than raid as tSsse '0 insiders who hold large
blocks of this security would have made an at
snend 10 ,o @ their stock when tnere ,rn MO
the early session a small scale. Con-
siderable is. irregularity was shown the railroad
OF Steels turned the tide and sharp advances fol-
lowed through the list at the close.
Meyer & Kiser.l
NEW YORK Dec. 1s.-There conflict
ing influences in to-day's stock market. result
ing in irregularity of movement and a befog-
ging of sentiment. The earlier dealings were
without specific influences far as news de-
veiopments were concerned. but in the later
trading two factors made themelsves felt There
was drive against the Rock Island issues
which served to carry down the prices Of the
common stock more than point. The effect
on the market was generally bearish, and prices
eased Off more or less. The only reason sug-
gested for the movement against this stock
was that a bond issue is contemplated This
announcement is history and too superficial to
be taken seriously. The possibility of a $780,
600 900 refunding bond issue was announced Of
hcially three months ago. and the stockholders
meeting which was called TO consider IL was
no good reason TO doubt that this bond issue
will be put through. Developments in steel
was ofhcially announced that the steel billet pool
had met and adjourned after reaffrming the
bic. however that steel biilets viii be officially
selling at $50 or s2i a ton within short 1r me-
as they are actually doing in number OF IN
stances now. It is certainly good policy ;, to to
maintain the prizes as long as
the announcement that the billet pool had MAIN
aned steel @ re- pavy
actions. 1t was strengthening influence IN
the market neutralizing the weakness induced
Rapid Transit was somewhat Irregular. while
Metropolitan was somewhat easier In tone Man
haitian was relatively steady The granger anger
tanned good tone. Pennsylvania and New
York Central developed some strength in the
later trading: Colorado Fuel and Iron was ,,I in
clined to sag. Peoples Gas broke and rallied
tPorterfeld & Col
NEW YORK, Dec. 1s.-The bears made .
great effort to cause a break in the stock mar
ket to-day, in order to cover. Rock Island was
raided rumors of a bond issue. Atchison on
the issue Of yesterday. The depression lasted
until the noon hour. when there was an an
nouncement that the billet pool had uphe. s.
rates and had a harmonious meeting This
helped Steel, which advanced about ~ lOr the
preferred. The rest of the list responded. Penn
sylvania gained one point and the other rails
about the same. Copper was rather heavy. The
price was advanced to s12.7 by the Hecla peo-
pie.
IA. r. Thompson & Col
NEW YORK, Dec. 1S.-The great gain OF cash
from the interior. reported to-day. amounting to
between $1,000 900 ana a. 600 OOo added to the gain
of &c. 900. 900 from the subtreasury, for the week.
including all the gold imported had the eff
feet of making money rates easier, and shows
that the prospect for better conditions in that
market in the near future, after elimination OF
the end-of-year disbursements from the situation
is exceedingly favorable While the stock market
did not take particular cognizance OF this condl-
ton. OF the outlook for favorable bank
statement with increase in surplus tomorrow,
it is condition that cannot be ignored, and the
day Is because of the professionalism OF trans
prices, so far as fundamental conditions con-
cerned, and believe that the optimistic side OF
the market presents the most attractions at
present. Our Information to-day leads to the be-
lief that both Consolidated Gas and United States
steel preferred will sell higher We also know
that American Locomotive and Southern Pacific
are being accumulated for RISE There is no
doubt that tire Goul6s buying Wabash pre-
ferred and Missouri Pacific. We commend these
issues to YOUR attention. We believe that, in
view of the big rise in Brooklyn Rapid Transit
and Sugar II will be well to let them alone ex-
cept for turns on the long side.