The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-08
BROKERS VIEWS ON
THE STOCK MARKET
Ia. w. Thomson. ]


NEW YORK, April Tendency Of prices to-
day upward. Broadening tendencies dis
played in the active railroads. and many in
active stocks which have been dormant for a
long time were quoted at advanced prices. The
feature was the strength displayed by Tennessee
Coal and Iron and United States Realty issues.
The settlement of the builders strike exerted an
Island was taken in hand by the Chicago inter
ests and advanced easily. Amalgamated Copper
preferred ana Anaconda were bought by good
houses Tor further advance in the price OF metal,
due to the increase N the export demand. A
number OF statements Of railroad earnings We're
puDiisned to-day showing gratifying results
The heavy buying in the Steel stocks, which
was one OF the features Of the afternoon. was on
the better understanding as to the value OF the
preferred issue and the belief which prevails in
the best Informed quarters that the turn for the
better had come The indications point 10 con-
tnual improved earnings for United States Steel
Corporation.
Meyer Kiser.l
NEW YORK. April with a few exceptions
stocks were steady to-day. and at times strong.
but in the later trading there seemed to be less
resting power. while at the same time weakness
or pressure was not In evidence. The general
trend OF sentiment bullish and the profess
sional element inclined to range itself the
long side. Certain banking institutions closely
allied with Standard OIL which have heretofore
been doubtful of the strength of the market,
were inclined to-day to take "a hopeful view of
lively drug on the market, that time money is
loaning at per cent for periods extending over
e anh thse oa rates a sn9w NJ IN
IN the monetary situation is undoubtedly favor
able TO strong market, and IL is probable that
the oanking interests Will encourage more active
speculation in order TO insure for themselves bet
ter business The uncertainty concerning the
Northern Securities case is an unfavorabe fac
tor. but IL is unlikely that there will be any
| toward developments in that quarter, even in the
event of Harrimans success. Throughout the
days trading Steel preferred very strong.
and scored a substantial gain as result of the
days transactions. The strength of the Steel is
sues had a favora bic influence throughout the
| y active. it fuctuated within an unusually mar
row range and made a net decline for the day.
| Steel preferred. and it acted remarkably well.
There was no attempt to force the stock. but 1t
souri, Pacific and Pennsylvania were strong and
| steady in tone throughout the day. Atchison
was firm. Realty preferred scored a big advance
] presumably on the settlement of the building
ganizing the finances Of the company any has been
| perfected and will be announced shortly. Insid-
London bought stocks today particuIariy United
| States Steel. Money continues easy.
tPorterfed & Col
NEW YORK, April This was another siren
! uous day for the bears. with prices booming
| right from the London in Irregular
but sent buying orders in her specialties. Steel
| preferred, on immense transactions opened
| away up and after slight hesitation resumed
| the upward march. Stocks that have hereto
| fore been laggards were taken up and worked
were tennessee Coal and Iron, Colorado Fuel
Rock Island common. Realty preferred and Ana
conda. The entire list strong all morning
| and while there sensational play in any
| OF them they held the advances with very few
| exceptions we'll up TO the closing hour. Stee
| common has been in better demand to-day thar
/ for many months and IL actually appears tc
/ be in shape TO record higher prices While the
market should have good reaction there is NJ
doubt that the outsiders are gradually becom
| ing more and more interested, and IL the powers
now in control keep on putting the stocks w
IL Is certain the public will not long resist the
temptation of taking hold Union Pacific and
| Southern Pacific the yhowing the most
! hesitancy at present. and. as we said before
/ they have evidently had their bulge for the time
being. Final quotations very steady and
at near the best of the day.