davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
LUith the Grain Brokers';
Present Market Conditions

Advices to local cash grain dealers indicate
that the movement of new corn is beginning to
be little heavier. Fourteen cars Of corn were
inspected here yesterday: Prices for the new
same for No. white. and 80 cents for No 4
white Most of the corn coming grades about f.
XXX
1.-THE cash grain situation here is so dull that
there is very little to be said" yesterday said
Edward W. Bassett. The markets drag
sbeg have little wheat and few oats The rail-
roads are unable to handle the movement ade-
quately small as II Is; There is M, not great great
is going to land things it is hard to tell"
X
'.This talk about the Argentina crop being a
weakness in wheat for prices early in the new
wear is the same thing we have been hearing
for years This talk is case where the bark
is worse than the bite. AS for the statement
that American and Canadian shipments this
wear will be much smaller than last year, that
Is true
Feed buyers in the East are not showing
much of a disposition to take much stuff now
on account of the new basis of all-rail rates.
according to advices received daily by the local
millers and cash buyers. Millers. the other
hand are showing disposition to sacrifice
their miilfeed. Offerings generally are light and
East are said to be low. As cold weather is
coming on rapidly and the demand for millfeed
pected by the majority OF miiers in this sec
ton.
1.-THE wheat situation is not particularly bull
sh. but the market should hold pretty steady
at present prices. prices little lower than
these The growing wheat is In good condition.
and there is nothing now 10 add much strength
TO the market but speculation."-J. w. Riley.
On the corn situation Mr.. Riley said: Corn
Is due for a substantial upturn. / think. within
the next thirty sixty days. There won't be
much cash business at these prices for farmers
won't sell their corn at present prices. At this
time OF year farmers are usually pretty free
ably with what IL pays TO feed the corn At
prevailing prices the farmer can make more
bv feeding his corn We have q short crop of
oats this yea- and think We have already
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
Local Financial Gossip;
Bankers and Brokers Talk

Albert r. Thompson who has just returned
from New York. says: From information l
cured from reliable Wall-street bankers and
brokers and Eastern business men do not look
for active bull campaign in stocks. Wall
street couldn't get enough money to support
an active bull market. There may be advances
of four 10 five points in many stocks but that
isn't what 1 call an active bull campaign. For
the next several months think will have
more or less inactive market. The most reliable
and authoritve houses in Wall street are not
talking active bullish operations to any extent.
On the other hand. am not bear don't
think stocks will go much II any. lower. Neither
the money nor the industrial situation warrants
soon At the same time l think stocks
purchase If the buyer will have patience to hold
condition that Ii needs to stop while and take
a long breath and even up: But from all L
and stock brokers who know what they talk
ing about any danger of panic or any serious
trouble In this country is past Inc country SIM
XXX
local broker calls attention to the following
statement in the Commercial West: "All indi-
cations point to a decidedly easier money
ket after Jan. !, and to an improved tone in the
securities market, barring the possibility of those
accidents which proverbially favor the bears.
The country is nearing the new year with clean
financial slate. Stock market values are no
longer so high as to constantly constitute a
standing threat to financial stability as was the
are that there will be an increase in exports
early In the new year. The increased wealth in
good GOO nriees and through good management of our
business affairs, must necessarily, sooner or
later, force a response in the investment mar
ket.''
The Indianapolis national banks have been
quoted prices on the Hawaiian improvement
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
CANNOT SEE WAR PAPERS.
Access to Orders of Gen. Sherman De-
MED a Writer and student.
Baltimore Sun.

Mr. j. Potter Hollis. student of the
Johns Hopkins University. whose home is
at 1914 McCulloh street. has had peculiar
experience at the War Department at
Washington by being refused the privilege
of examining the general and special or
ders of Gen. w. I. Sherman. The action
of the War Department officials has ere
ated considerable comment and has caused
the question to be asked: Did General
Sherman's special dispatches contain orders
which the government officials are unwil-
ling TO have published?
Mr. Hollis Is writing thesis for his
doctorate degree at the Johns Hopkins Uni
versity, and his subject is Reconstruction
in the Carolinas." AS il is necessary that
original document examined whenever
possible. Mr.. Hollis went to the War De-
partment at Washington a few weeks ago
TO look over General Sherman's orders.
These orders are not included in the vou-
minous work, THE War of the Rebellion,
and the only copies are in the keeping of
the War Department.
When Mr.. Hollis applied for the privilege
of examining the records one of the off,
Gals directed him to another. and that Off
cial sent him TO still another. This was
kept up until. Mr. Hollis appeared before
five officials of the department. This last
seemed to be the proper party; at least he
did not direct Mr.. Hollis to anyone else:
but he refused Mr.. Hollis permission to in
spect the orders.
Supposing this refusal to be the result OF
unusual care OF the papers, Mr.. Hollis
stated the character Of the work In which
he is engaged and offered to- furnish evil
dence of his reliability and good faith. But
that made matters worse. The official
stated that he understood perfectly Mr..
Holliss desires saying that authors were
the very persons not allowed TO see the
records. The official concluded by saying
that the only way anyone could secure the
privilege OF examining the papers would be
TO secure an order from the Secretary OF
War. Mr.. Hollis stated last night that
thus far he has been unable to see the
Secretary of War. but that he intends &c
go to Washington next Saturday In the
hope OF catching that Official.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
Shorts Began Covering Quickly,
Which Caused Market to Take Sharp
Upward Turn at the Opening.
VOLUME OF TRADE NO LARGER
IMPRESSION AMONG TRADERS THAT
BULL OPERATOR WAS LOADED.
Outside Markets Showed Up Higher,
Demand Throughout Session.

CHICAGO, Nov. 2i.-Rumors OF an impending
deal in wheat under the leadership of a promt-
nent operator current on the Board or
Trade to-day and caused considerable anxiety
among shorts and covering by these interests
resulted in a Strong market, May closing SQlc
higher. May corn lsc lower May oats
Bc lower. while January provisions closed
from a shade TO TIC lower. Wheat ruled
strong. although there was little improvement
in the volume of trade. The impression pre-
vailed among traders that too much wheat has
been finding its way into the hands of a lead
ing bull operator, and, as the crowd in general
was short there was a good demand from this
source throughout the day Outside markets
were higher, the ones at Minneapolis and Du-
luth being especially strong, which influenced
prices here May was in better demand than
December and opened shade to 1sGAc higher
at 7sIk@7sssc and advanced gradually as the
day progressed. Advices from Argentine state
that the exportable surplus will be much less
than estimated. and this fact had a
strengthening influence during the latter part
of the session.
The close 7sa1c higher, at 1880 Decem-
Der ranged between 7sAG7sssc and 7s7sgsoc'
closing sc higher at 7s7sc. Ciearances of wheat
and flour were equal to 332. 200 bu.
The worlds visible supply as reported by
Bradstreets. increased 5.631ooo bu- Primary
receipts were 1.515SOO bu, against 1,s2s.SoO bu a
year ago. Minneapolis Duluth and Chicago re-
ported receipts of loss cars. against $50 cars
last week and LAS cars. year ago. The
feature in the trading in corn was the heavy
selling of both December and May oy proinl-
nent commission house. The market was helped
some by the strength In wheat and STEADY sE
cables but December depressed by the de-
cline in the price of corn and the increased
receipts, May sold between f%c and &C. clos. clos;
ing shade higher. at 4l7sc. December closed
&C lower 429sc Local receipts were 4O6
cars with 10 cars of contract Oats continued
weak under heavy selling by the same commits
sion house was selling corn and which has
been active that side of the market the past
few days The offerings met with only scattered
demand. May in fair demand from COM
mission and cash houses, and part of the loss
was regained May ranged between 35hc and
35sc, closing sc lower, at 35l2c. December closed
sc lower, at 34%c. Local receipts were 2s4
cars
Provisions felt the weakness in hogs which
were selling at decline OF 5QlOc. Pork
was steady on fair demand from packers and
on covering by shorts. and closed shade lower
at sl1221a for the January product. January
lard TIC lower, at s6.371z, and ribs were
off 5li7i9c, at s5S7i2.
Estimated receipts for tomorrow: Wheat. 110
cars; corn, lS5 cars; OATS 50 cars; hogs. 5000
head
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25

bonds. which will be accepted by the secretary
of the treasury security for government de-
posits. The issue is 1000 Co., 1t Is thought none
of the local banks will invest in any OF these
securities. None of the philippine government
bonds sold in Indianapolis.
This is a market of specialties. Pressure to
sell worthless issues and pressure to raise good
makes for irregularityz but. as the worth
less securities have been well weeded out, the
tendency of the traders market, as We nave
said is upward; one spe Seanlal market is on
a considerably higher level before realization OF
the fact is gained by the outsiders-New YORK
Financial Bureau.
Said an official of the Indiana National Bank
yesterday concerning John Lamberts plan TO IN
crease the amount OF money in circulation In THIS
country by the national banks being compelled
to take out circulation equal to eight-tenths OF
their actual capital: lone of the first things
that appeals to me about this scheme is that II
would necessarily force the government TO issue
more government bonds and thus contract addl-
tional indebtedness. 1t strikes me that IL the
national banks were compelled to increase their
circulation eight-tenths of their capitalization
they could not get enough government pohds
with which to do this unless there were new
issue Banks do not make much money in clrcu-
lation. Why should the national banks be con-.
PEELED to take upon themselves the burden OF
Increasing the amount of money in circulation !.
1t isn't the business of the national banks 10
see that this country's financial system Is what
be Compelled to remedy conditions which the
government itself should remedy. This scheme
is impracticable.
A. W. Thomson has the following from Wall
street: There is no concerted movement up
ward, but the big men in various stocks are be-
ginning to take hold and their followers are buy
ing. We should have good trading market
for any one who is satisfied with a fair profit.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
TRADE In GENERAL.
Quotations at St. Louis, Baltimore
Cincinnati and Elsewhere.

ST LOUIS, Nov. 24-Flour was practically
ssS .s sa Entsa =
Timothy seed nominal at s22SQ2S 50; prime worth
cSn ssss 'ssz e at Wheat Hss ss sA az
& Corn ann May Ma s CASH Ne se ,r. ssd ss
Cash se Tacs Nay e os 9s'ss
at sl. IS. Lard steady at ss7ls. Bacon steady;
boxed Extra ss s aa o1 sar fss 5
i2So; prairie, ss5oqloSo.. whisky steady. at
slsl; Cotton ties MC5 basins s sSgs.5e &c
wheat. $4,000 Blu; corn, 81 600 blu: oats. g oos
bu shpments-Flour. 1900 bfis; wheat $4,000
KANSAS CITY. Nov. NEUTRALITY-SUSPICIOUS.,
Sc s.sSs; 81 81 sississ; No ,ss;s;S ;ss
cash, No. mixed. sslig4Oc; No; 2 white ss.s0
ssc; No 5. Csc. oats-No white. seqssc; No
corn. 81. 400 bu: oats. 1900 bu. shipments-
Wheat, 900 blu; corn. $500 hu; oats 1000 bu.
MAO so e SG Sic s s
December, 43c; May, 42%c. oats-November.
&C. $50 aGvs May y:sa ss hy ssd DE-
$ sss; March ;ssis; prime sisiks $50; prime
LOUISVILLE, Nov. 24-wheat-No 2 red and
longberry Sc; No. red and longberry. ssc.
ana 1a'S new beans. s. IS per bu Iay~choice. in
car lots. on track. Sl4qlA5o; clover. sil9Ii.5o.
straw, X.J0IS. clean ginseng so<oHn tfIloHs
sI.75Q2 per brl. Cabbage 81 per crate. Peppers.
SO per crate
DULUTH. Nov A.-wheat-To arrive-No. 1
hard. 79Lc; No / northern. TIC: No. north
ern. 75Hc. on track, No northern, se%c: No
2 northern. 7SAc; No. sprirg, 75Ac; Decem-
Der. 77&c: May. 79lsc. Flax-Ia store. on track
and November. 81 TO arrive. December. soc:
May slOllz. oats-on track and 10 ARRIVE.
331sc.
CINCINNATI. Nov M-Flour steady. Wheat
steady; No. 2 red. size Corn quiet; No.
mixed. 45isqfsc. Oats quiet: No. mixed. 8h8
SIC Rye firm: No ?. 5S9sec. Lard easier az
Sc. 35 Bulk meats steady az 1ez14- Bacon
steady at ss.75. Whisky quiet at si3. Sugar
easy.
MINNEAPOLIS. Nov. ACKNOWLEDGEMENTS.
79c; May. S0Lc: track. No i hard. N&c. No.
! northern. S0%c No. northern. 79i141s8cs
No northern. 72G75Ac-
LIVERPOOL. Nov. 4-Wheat-Spot steady
No . red Western winter. s. I'd. Corn-Spot
quiet; American mixed. IS l0isd.
BALTIMORE. Nov. NEUTRALITY-SUSPICIOUS..
Sc; December. s5izc. Corn November SIC;
December. 4shc.
MILWAUKEE. Nov. 2i.-Beriey steady: No.
?, CSC; sample 36G6lkc.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
LOCAL CASH CORN PRICES HIGHER.
Advance II for Old Crop-Wheat
Prices Are Unchanged.

The local cash grain market showed some Inn
provement yesterday. several grades Of corn be-
ing nc advanced the previous days quota
lions. Old No. white is at s4c. against <sskc
Monday. Prices for corn hold steady Mt
Mondays figures. The corn inspection yesterday
amounted to II This is regarded as a fair
ly large inspection taking into consideration the
small movement. No wheat oats were in
spected yesterday. Wheat prices remain practi-
cally unchanged
Wheat steady; No 2 red sil1c track: No. 2 red
s4l2c on milling freight; No. red. SIC track No.
yember. S41zc; wagon, Sac
Old corn stronger: steasy; no. white.
old. 44c; new, Ale; No. white. old 44c; new.
Ale: No. white old 4I1zc; new. ssc; No. white
old, 4SAc; new, Ale; No. white mixed. old, f1Ac;
new 39c: No. yellow. old. CSC: new. z1c No. 8
yellow. old. 44c; Ale; No. yellow. Old
4llsc new. 3sc; No. mixed. ola, 4s%c: new. &c:
No. mixed. old, sac: new, lie; No. mixed.
old. 41l3c: new, 3sc; ear. old. 4Sf.
Oats steady; No. white, 36tc nominal. No 3
white. s6c nominal; No. 2 mixed. s5ltc; No.
mixed Csc
Hay stronger: No. 1 timothy. sl15o; No. tim
othy. Sl0.25
Inspections-Corn: No 8 white cars; No 4
white. 8; No. white mixed. II No. mixed. 1:
No. mixed g.; total. Ia Hay: No. tim
othy, / car; No. timothy l. No. clover. 2;
No. prairie, /; No prairie. j. total, cars.
WAGON MARKET.
Receipts of hay were liberal Offerings OF corn
were nominal. The wagon weghmaster reports
prices unchanged. follows:
Corn-Per bu ssgssc: new. 4easoc.
Hay-Timothy, sllal2; clover. s0s; mixed.
ssQe.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25

seen the low price of the entire year for this
cereal. -'
The story from the Southwest, which grain
dealers became so familiar with last year-lack
of cars and motive power-is coming this wav
again. A Kansas City elevator man wires: III
equipment were plentiful We would see a con-
slderaby different movement Of wheat. 1t is al
and many important points ie'e
good deal of bullish talk on provisions is be-
ing heard every day around the local brokerage
offices. The local sentiment on this market gen
ate purchases A. W. Thomson advises buying
lard and ribs between now and Dec 10.
The gossip from Minneapolis and st. Paul In.
dcates that country elevator stocks I'm the
Northwest amount TO about 6. 500, 900 bushels as
compared with 10. 100000 bushels at this time
last year. This information is in line with local
bullish sentiment on wheat.
THE May option is the best wheat purchase
now, think, barring the possibility, of course
Of squeeze by Armour. On its merits May
May was considerably more active to-day than
December."-A. w. Thomson.
Charles Nichols. district agent in Indianapolis
for the Northwestern Miller has just returned
iAoih &C Trip through Canada. He
was at banquet at Minneapolis the other night
at which j.. j. Hi, president OF the Chicago
Milwaukee & st. Paul Railroad, delivered an
address.
investors should not fail to note the
strength In the railroad stocks to-day. While
the per cent Industrial issues were hammered
down 81 to s. share. in several instances to
below 40. the railroad list stubbornly resisted
all oearish attacks. notwithstanding bankers
Mere asking ess per cent. for money. I firmly
believe the next decided turn in the rails will
be upwards. "A. ". Thomson
a w. Thomson said: 1.-THE volume of trading
In the May wheat option to-day was double that
I'm the December option and the latter / regard
as the better purchase Pork and ribs look to
me splendid buy around present prices
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
RAID ON INDUSTRIAL STOCKS.
Bear Crowd Has No Designs ON Rail-
road List.

TAlbert r. Thompson Co., Indianapolis.]
NEW YORK Nov. A-The stock market was
suddenly raided to-day by the organized bear
crowd. but, beyond the depression in a few
industrials the general list held WELL especially
in the railroad department. We understand
that the bears are shrewdly devoting their eff
forts to the industrials and putting out few
lines i'm railroads. in which division of the
market they believe all the liquidation pending
has been forced. with the possible exception of
pennsylvania, the purchase of which We cannot
advise.
With So, 600 600, 900 worth of farm products to
it's credit this year, the Nation will not face
hard times next year, and Ii Is the belief that
the presidential election in 1904 will not operate
adversely against the stock market, as it has in
the past owing to the fact that conditions are
good and no important political questions d-
vides sentiment. The general stock market
situation will entirely clear next month, in our
opinion and big market will be under way
with the beginning Of the new year. There is
no danger of money stringency. for plenty Of
time accommodations can be had at 5 per cent.
a
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
SHORT SELLING CAUSES WEAKNESS.
Break I'm Industrial Stocks Causes
General Weakness.
Meyer & Kiser. indianapolis.


NEW YORK. Nov. 24.-Bad breaks in the in
dustral quarter of the market were the features
of to-days trading. Sensations enough were fur
nished by some of the weakened stocks in that
part of the list sufficient to have serious affect
on the entire market The railroads eased off in
the later trading but these declines were entirely
disproportionate the slump in the industrials.
The stock that suffered the was Corn
Products preferred. That stock at time
showed decline of IA points, and no explanations
that could be accepted were offered American
Locomotive slumped badly, and Pressed Steel
Car, American Car and Foundry, Amalgamated
Copper and the Steel issues were all weak and
under much pressure. Steel preferred made a
substantial decline, although there was some
good buying of the stock and the bonds were
very heavy. The traction issues exhibited great
strength for time, and then eased off with the
rest of the market Southern Pacific and Union
Pacific also showed temporary strength, but then
declined fractionally in sympathy with the gen.
eral tone. Pennsylvania and New York Central
showed excellent resistance for time, but eased
off later trhe more than might have been ex-
pected. 1t is not possible to assert that the
break in the Industrial stocks cited represents
liquidation pure and simple. The incentive TO the
decline was furnished by bad drive and short
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
ARMOUR OPERATIONS FELT.
Wheat Has Been Observation-Disclosures
oils Advices BulIish.

IAlbert R. Thompson Co. Indianapolis.
CHICAGO Nov 2L-The wheat market to-day
felt the effect of continued absorption by Arm
our. The crowd has been selling IL for some
time. and Armour has been taking all offerings.
There advance to-day OF AQ7sc. and
the bulls had the encouragement OF still better
advances at Minneapolis and Duluth. Cables
were little lower, but not on as much the
decline here Monday. There was the sale OF
another Armour cargo TO the East. making four
Duluth cargoes diverted from Chicago the
East Duluth talked excellent demand
There has been further increase I'm the arri-
walls OF new and further weakness in the
cash market. The to-day was of
about 1c. This makes decline In two DAYS
of 2d3c in this quality. IL is a grade not easy
to hardle Just at present and not easy 10 sell
and IL has counted against the bull. East OF
the Rockies corn decreased 1.955. 900 bu. The
pit feature heavy selling OF December and
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-25
PRIVATE ADvICEs ON STOCKS.
Heavy Onslaught on Industrials-Corn
Products Lose Five Points.
IA. w. Thomson, Indianapolis.1

NEW YORK. Nov. 2.-The opening was quiet
and showed features of interest, giving no sign
of terrible onslaught on the manufacturing indus
trials which followed The break in some OF
these issues was sensational. Corn Products
Company broke 5 points, the preferred ID; Car
end Foundry Company 2, the preferred 4; Loco
motive preferred and Colorado Fuel g.
The selling was largely from the West, and
while no authentic was published giving
reasons for the declines 1t is thought generally
that a good many loans holding these industrials
as collateral were called and that other loans
asked as substitutions for these ndustrials. Call
money advanced to Sx per cent. The railroads
generally show only fractional declines and alto
eether they acted very well. Most of the traders
who were inclined to look for a rally in the mar
ket closed their holdings. United States Steel
was reasonably well supported.