The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-17

eleven months presents some significant facts.
vember was the largest of any month this year
and also larger than any November Tor the
past several years.
The market, as a whole. was professional.
and. although extremely dull, did not recede
when rumors of some pending trouble In the
dry goods district caused a reaction of q point
from the best prices of the day.
Meyer & Kiser. Indianapolis.1
NEW YORK. Dec. 1s.-Dullness was the
dominant characteristic of to-day's stock mar
ket. The specific cause Of this lethargy is not
easy to point out. but it is probably due to two
causes. In the first place the bullish, conting-
ent is exceedingly conservative. with a few
prices summariIy while outside interests con-
tinue to flag. It would not be wise to attempt
to put prices up indefinitely, even II 1t were
possible. and profit taking and bear campaign-
ing must be reckoned with: But. on the other
hand. IL is easily noticeable that bear drives
against the market are not effective, and liqui-
dation is no longer induced This curtails the
bination OF both sets of facts makes for a dull
market.
lions were narrow and the market was uninter-
esting. In the afternoon session an easier tone
preferred sold down. St. Paul lost a little.
Brooklyn Rapid Transit d~lsgorged some of its
eased off somewhat and the industrials were
dull and closed generally lower. st. Paul was
very strong. Copper was steady. New York
Central aggressive and the railroads generally
nrm nm The sr course comnesrt or further ,fs m ,han the leas sasre nc
ton that it's behavior was eminently satisfac-
5oGy; E ruled d aron1a the ns WsFs of %ed preceding nns
days.
IPorterheld & Co.. Indianapolis
NEW YORK, Dec. 16.-The market was a
dull, un.nteresting affair throughout. In the
early trading there was considerable strength
with st. Paul. Missouri Pacific. Southern Pa
cihc and a few other rails making decided
gains. while Sugar advanced Ia points on the
expectation of a su large ss,. majority a}fsrEoo vote rb favorable Mas
also good buying In Copper and reports that
certain announcements forthcoming would put
IL up several points were factors of strength.
Brooklyn Rapid Transit was also bought by the
After the delivery hour the same professional
tactics as were pursued yesterday were in
n majorit Sha of 'nf Instances stances iosef the early gains,
Sugar sold down a point from the highest by
profit taking. United States steel was irregu-
lar, but inclined to weakness.
IA. r. Thompson & Co., Indianapolis
NEW. YORK. Dec. Tive desire to call
especial attention to-day to a discovery con-
| corning the money market. Rates for time funds
are fictitious and merely nominal. not repre-
| senting the true conditions which are really
much easier. and this fact is proved by the
interest that six months money can be OBJ
tanned by bidding 4 per cent. for 1T and offer.
per cent. This is very significant when it is con-
sidered that the gold is flowing to US from the
| Chicago exchange on this city now having
risen to 40 cents premium. The subtreasury
favors the banks through heavy pension pay
ments this week. The gain by the clearing
house thus far being s2.6oO:eo. This. insures a
good bank statement when it Is considered that
gold from Europe is continually arriving. Pro-
fessionals are now in control of the market
This fact leads us to believe that they will
recognize the Importance OF the factor above
referred in the way Of Improvement, and will
work for higher prices, along speciality lines
Brooklyn Rapid Transit and Sugar We're taken
up to-day and we believe they will work
| higher. We are very bullish on A~malgamated
Copper. Southern Pacific and Atchison, and
strongly recommend their purchase on all soft
1 spots. There are indications also of st. Pau
and Missouri Pacific being purchased by
Standard Oil interests and of their being ad-
vanced considerably before the end of the year
Take fair returns and repurchase when a re-
action occurs.