The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-17
Chicago stocks.
[Ry A. R. Thompson 6 Co.,s wIre.l
BROKERS VIEWS ON
THE STOCK MARKET.
IA w Thomsor.1

NEW YORK March 1.-THE covering move
ment. which in full swing last night at the
close kept this morning and during the first
hour nearly 100000 shares were traded in at
steadily advanced prices. the market being more
excited than anything have seen for some
time. After that. transactions gradually dwindled
until as the day on. the tone became al
most dull 1t has been of late. In the early
afternoon there was general reaction. due TO
profit taking and to selling by traders. but TINS
actions and the undertone was at all times
strong Dizziness prevailed up to WITHIN a fteen
minutes transactions again became more AM AMI
bull element was much encouraged by to-day's
trading Close was quiet but firm 1t Is the gen.
gone out of the short side, another set has taken
that side.
IA r. Thompson & Col
NEW YORK, March 16.-Operations in the
stock market to-day consisted principally of the
retreat of the bears Extensive short covering
took place. We do not pretend to say. how
ever. that the short interest has been entirely
| eliminated. We believe that there il
| large stubborn short interest remaining in the
market. which be lifted upon this technical
| foundation considerably higher. Broadening in
| many departments to-day the stock list gave
evidence of increased attention from the public.
| and the bond market was also reported as being
cerp nei'er ondon was large SuyeT of stocks
| taking the grangers and the Pacihcs principally.
count. interborough interests were credited with
| taking some Metropolitan. There was talk OF an
able to- a rise in values. While the special
| ist in Sugar sold the stock to-day We under
S Tse fact that London BID for Union Pacc
was regarded significant, and we hear that
is understood TO have taken hand in the stock
market and it should be active from now on.
| lieve in higher figures for Missouri Pacific;
Southern Pacific and Rock Island preferred: and
favorable bank statement at the end of the
week The banks have now started to gain from on,
ratio of gain from the interior now indicated
kept up there hO s be a9 IS WI
will operate for a continuance OF the easy
fSPther Investment Buying Of Securities
heard to-day that bond business is better and
the prospects are good now that the merger
| case is out of the
Meyer & Kiser.l
| NEW YORK, March 16.-Toward the close OF
the trading to-day the stock market developed
an easier tone and the active stocks declined.
| The tone of the market throughout the greater
part of the day strong and bullish senti-
ment pervaded the operations of the professional
| traders. Some of the strength was derived I'M
doubtedly from the covering Of shorts. but there
was some good buying also. There were heavy
spots in the market, but any sign of weak
tinued its upward movement There were no
news developmenTts Of impSrtance; and the
a merely casual way. 1t seems to be taken for
granted that the government will not take any
will rest for the present at least. The officers
| of the company are holding daily conferences.
5t mo be rs gwen Re active
| to-day were Pennsylvania and Erie. There was
euries than nu in any otheT The b1llisS
tingent in Pennsylvania held that stock very
| we'll and toward the close Of the market
it showed relatively good support Erie showed
| In fhe WIFI iS NOT
to sell very high Erie common was OF
the active stocks that showed Su nsS showed
tendency to ease off In the late trading ST
ss sn sdS c sS Was veil sustained The Wa
bash stocks were notably strong. The market
The afternoon trading showed hesitancy early:
and It is possible If trading had been prolonged
stantially There was a suspicion of short SELL
ing, profit taking and a reactionaTy tendency
ness. making ali it's contracts on the long side
practically The mon' o market ma showed , very 1T
| tie change. About sl.5Oo.0U In gold VIII De sent
| to Argentina tomorrow.
| fPorterfeld CO.
NEW YORK March 16.-The Improvement in
the stock market of yesterday was continued
| this morning, and the market opened up from
4 to l point over previous close. The advance
was general and embraced the entire list. After
| the opening some natural profit taking resulted
but the market took it remarkably well, in some
| instances recording fractionally higher prices
| even under pressure The commission houses
| were in the market with considerably more or
! ders than for long time past. and this added
| to the general better feeling all around. Trans
| actions were very lively and OF much larger vol
| ume than for weeks past during the first hour s
trading but toward a lull set in. and a
gradually lower list of quotations recorded
during the dull period. There was. however no
urgent pressure to sell from S any quarter and
tending to from y to point from the high
| throughout the list. 1t nothing but a Sc
of light wasted bulls taking profits. Close was
firm at higher prices than last night. Buy them