The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-19
Chicago Stocks.
IN a p Thnmnson & 90 Wire
BROKERS VIEWS ON
THE STOCK MARKET
IA w ThOmsOn1

NEW YORK, April 1S.-The market to-
day could be characterized as a waiting
one. The opening was quiet and feature
less, and after some hesitancy advanced
fractonally on moderate buying. CONSOLE
dated Gas was a conspicuous feature, adj
vahcing "a points 10 207l5, on expectation
that the mayor will approve the Remsen
bill. When the announcement was made
that the decision is not to be handed down
In the Hartman case until the latter part
of the week, the stock sold off. There was
manifest disappointment around the room
which engendered a bearish feeling gen.
orally. The London cables were firm. The
market developed reactionary tendency in
the afternoon session. Interest conferred
largely in the Venner suit. In the decision
handed down Vice Chancellor Bergen re-
fused the application to prevent the North
ern Securities Company from holding a
stockholders meeting next Thursday to
ratify plan of distribution. Closing was
quiet.
Meyer & Kiser.J
NEW YORK, April 1S-There was prac-
tically activity in to-day's market, and
the trading was narrow and almost entire
ly professional. Whatever dealings there
were were confined to a comparatively few
stocks. and the fluctuations. with few
exceptions, were small. Traders were not
disposed TO take position on the market
pending a decision in the Hartman petition
now before the courts. There were no de-
news was limited and inconsequental. Trad
ers were more or less disposed to take a
bearish view of the situation. but they
nave not the courage TO follow their con-
victiOns in view of the possible revival of a
bullish campaign by the interests that en-
glneered 1t few weeks ago. Specifically.
at least monetary conditions easy, but
we have pointed out before that the I'M
limited selling of notes. the vagaries of the
loan market and the possibility of the with
drawal of heavy amount of each from this
ar
time or other. Extreme strength in Con-
solldated Gas to-day gave rise to the i'm
preston that some one had an inkling that
the MAYOR might approve the Remsen bill
There is no real information to be obtained
on the subject. The stock advanced sharp
ly in the early dealing, reacted slightly and
rallied subsequently. 1t closed relatively
hrm. The trading was heavy. Union Pa
cihc and Pennsylvania contributed much
to the small amount of sales. Pennsyl-
Vanla was extremely narrow, but Union Pa
cific sold off at times rather easily. Erie
was fairly strong and Atchison acted COM
paratively well. Steel preferred closed very
strong. The tone of the market at times
was heavy, but there was no stock urgently
pressing for sale. London did practically
nothing in this market.
[Porterfeld & Col
NEW YORK, April 1S-Outside of an at
tempt to run up Wabash preferred and a
bulge in Consolidated Gas at the opening.
the days trading was about as featureless
as it could possibly be- Up to noon only
1lIoOO shares We're traded in. and most of
this was confined to a few stocks. 1t was
about as dull and uninteresting a day as
we have had for a long time. The failure of
the Northern Securities distribution deci-
sion TO be rendered was the controlling in
fluence. Early quotations were about on
a parity with Saturdays close but the alb
sence OF any buying orders caused a steady
decline, due to liquidation from tired-out
holders and by noon what quota tons had
been made were at the expense of prices
In the late afternoon business was even
more restricted than during the morning
but some buying of Steel preferred was
made for London account. This stock holds
remarkably well and when the market re-
Sumes its normal condition would not be
surprised to see it take a squirt of 5 or
more points to we'll above 90. A very
ragged close is the result of the days trans
actions, with prices for the majority of
the active list near the low of the day
Steel preferred being the exception having
held its advance all through the weakest
period and gaining p over the initial
prices. Market looks like continual ton of
the downward trend for while longer
IA r. Thompson & Col
NEW YORK, April 1S.-The market to-
day was entirely in the hands of room
traders and far as any definite trend
was concerned remained absolutely with
cut feature. The general disposition after
the opening was to sell for a turn, and the
professionals put out a fair line whicff
they covered in the last hour. No liquida-
ton was noted nor was there any indica-
ton or absorption other than technical
buying by the professional element
The dullness was generally attributed to
the fact that traders do not care to take
either side of the market until after the
merger petition has been passed upon AT
St Paul. There was no public interest dis
played, and commission house business was
even lighter than for some time past.