The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-09
BROKERS VIEWS ON
THE STOCK MARKET
"A. w. Thomson

NEW YORK. April s.-FolIoNing the advances
OF London. our market this morning responded
with considerable activity. Amagamated Cop
per preferred. Atchison. Rock Island issues and
other specialties scored sharp advances Steel
securities after continual rise of a week
showed profit taking. though transactions were
limited Union Pacific and Southern Pacific
were also reactionary in to-days trading. it
might be said that the declining tendency in
the general market after the forenoon session
was entirely due TO profit taking, IN ailtielpa-
row. which is technical factor Loans VIII
expand materially and a decrease IN I .as
is expected. Copper feature and continued
accumulation seemed apparent. Higher prices
for Copper are anticipated the coming 49,
being bought and sold by the trading element
on the floor. The daily operations are az IA a
much activity will be seen later and a material
ly higher price seen. The activity In steers may
nave ceased for time being but we 90 nos for
turns. heavy short interest still exists IN
tinue to accumulate
Meyer & KiserI
NEW YORK, April S-During the afternoon
session of the stock market to-day dizziness pre-
vailed and reactionary tone developed. Practi-
cally every stock the list eased off from the
high prices. and the selling at times, though
limited. was quite general. There was no direct
explanation of the decline unless IL be profit
ever TO account for the loss. and some short
selling was undoubtedly INDUCED in by the bear
ish contingent. Sentiment the whole con-
tinues publish. but there are many rumors OF
selling by the erstwhile bullsh contingent SO
r we can learn the powers shat De nd cs
tainy there has been no change in conditions
continues extremely easy, and it is likely 10
remain so for a long time. II is TO the interest
order to find something to do with their money.
During the early session to-day two stocks
monopolized attention They were Atchison and
very strong The buying of Atchison gen
orally regarded as good. The operations in
Amalgamated Copper were almost entirely pro
fessional. Consolidated Gas developed a great
deal Of strength. and made sharp advance on
This bill will have to be approved by the mayor
and the Governor before il, becomes law. 1t is
MOI at all certain that II will receive the approval
oe SS the Dar of the dsy the
| fuences seemed 10 favor an advance In these
strength in the initial trading; but sold OF
easily before the close. Union Pacific exhibited
distinct reactionary tone. st. Paul acted COM
paratively well London bought about 10 600
| Realty preferred sold of easily. The prelmi-
nary estimates indicate small gain in cash
IPorterheld G. Col
NEW YORK, April S.-The stock market
opened strong and higher all around. There was
the same buoyant feeling that has characterized
| the transactions for the past week. and the bull
fever seemed to indicate signs of abating.
| London a buyer of interna.onals. although
| their market was irregular After some
further gains over the initial figures the MAORI
| ~ OF the list for the first time in a week
showed some indication of hesitation in the up
ward trend. and noticeaby so among the Pacific
| group Union Pacific and Southern Pacific were
sold by those who had profits in them and broke
gradually After the noon hour the weakness
In the Pacifcs was impaired to the rest of the
list and gradual sagging of prices resulted
While there was urgent selling movement
there was persistent liquidation of long stocks
| and one after another the entire list gave way.
| Outside of Southern Pacific and Union Pacific
| the pronounced weakness in Missouri
Pacific, Pennsylvania, Rock Island and st. Paul.
| Steel preferred and Sugar also followed the
| downward procession. Towards the final hour
| there was some little recovery, but the close was
| soft and near the low prices for the day. Look
| for some further decline in the morning. but
| on all quick breaks would buy stocks.