The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-26
BROKERS VIEWS ON
THE STOCK MARKET
IA. W. Thomson.l

NEW YORK, May 25.-The market opened
fractionally lower and was influenced by
lower prices from London and the threat
ening outlook of the labor situation at
New York. The early weak features were
Brooklyn Rapid Transit and Baltimore *
Ohio The first showed that the weak bull
account was realizing. There was bear talk
on Baltimore & Ohio from Western sources.
PENNSYLVANIA was heavy on apprehension
that the New Haven strike would AFFECT
this road also. The selling was not aggres-
sive, and after the first hour the market
steadied and showed a disposition to rally.
The traders bid up st. Paul, Union PACING
and Steel preferred soon after midday.
Later dullness set in, and trading became
very narrow, fluctuations showing but frac-
tional changes. The engagement of 81
10000 gold for to-morrow's steamer had a
deterring influence on the trading, and the
news of the day generally was bearish.
Brooklyn Rapid Transit rallied in the after
Moons trading The heaviness in Metropol-
itan was due 10 the publication of an analy-
SIS formation and capitalization OF the I'M
DERIVING companies of the metropolitan
traction group, which was interpreted
ket continued TO harden in the last hour,
and the losses of the morning were partly
recovered. The tone of the close was firm.
Monday.
Meyer & Kiserl
NEW YORK, May 25.-The stock market
to-day was cratic. inactive and altogether
uninteresting. There no pronounced
weakness. although the selling OF stocks
at times was somewhat insistent. The
weakest time in the market was during
the first half hour. Towards the end of the
first hour there was a slight rally, which
served to steady the market. The net re-
suit of the forenoon session, however, was
to show small decline in the active stocks
During the subsequent trading there was
slight betterment in several quarters. but
with one or two exceptions no positive
strength developed. The close of the mar
ket was very unsatisfactory in that the ir-
regular tone continued. There was no
news OF Importance. The total amount or
gold engaged for export tomorrow is ST.,
$50 600. 1t is doubtful If much more than
this amount will be sent abroad by Satur-
days steamer The result Is that unless the
call OF the treasury for funds affects the
cash item, a pretty good bank statement
may be expected. Among the active stocks
to-day were Steel preferred. Pennsylvania,
brooklyn Rapid Transit Amalgamated
| Steel preferred held its own relatively well.
| Both Union Pacific and Southern Pacific
| showed an easier tone throughout the day:
| The two strong stocks were Amalgamated
| Copper and Brooklyn Rapid Transit. Both
| showed gains at the end of the day, and
| the buying in both quarters was compare
! lively good. There was no change In money.
and call funds loaned low as l per cent.
again. St Paul was bid up a little during
the rally at midday. but its strength was
| not aggressive. London did principally
nothing in this market
| Ia. r. Thompson & Col
NEW YORK, May 25.-Although the
morning news was bearish in character
and influenced weak opening. short COW
ering and pool manipulation in the special
ties. notably Brooklyn Rapid Transit, fur
nished the little f1rmness which developed
| later. The market was extremely dull on
| the rally. however, as there did not appear
to be any desire TO take stocks. The frac-
tional rally near the close was due to short
covering. No one now questions the gen.
| eral contraction of business, but as money
| sity for pool and syndicate liquidation and
! the traders find in this an opportunity 10
safely scalp the market on a limited scale
| The wisest course in speculation we be-
lieve to be the sale of stocks on all rallies.
re- F. Braulik Is Col
NEW YORK. May 25.-The opening this
morning was irregular: for most of the
general list fractionally lower. London
came in with lower prices on the majority
| was a small amount of selling for London
account, about 5000 shares all told, but
this had only a temporary effect in the
was the usual professional affair and
showed pool manipulation in such. spots
| Brooklyn Rapid Transit and Metropoli-
burg again. but with less vim than yes
terday Some strong, party is picking ur
| this stock around present prices. The
sales to noon were 10000 shares
| mostly in a few of the standards
| Pennsylvania, Steels, st. Paul, Atchison
| Brooklyn Rapid Transit. Metropolitan and
Copper comprising about the bulk of the
| transa ctions. The afternoon inter
rupted by frequent dull spells, and while
| there was an attempt made TO rally stocks
| on short covering 1t had only a fractional
| effect and soon dropped into the old rut
| The close was apathetic and savors of the
| summer market-dull without much of a
| tendency either way. Prefer the long side
| on all dips.