The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-23
VIEWS ON
THE STOCK MARKET.
IA. w. Thomson. ]


NEW YORK. Jan. 22.-The market opened
strong and continued move upward under
the interests which have operated for
a rise for week The Western interests
heavy purchasers and joined by buy
ing power no doubt eminating from the Stand
ard Oil interest Notwithstanding heavy profit
taking. all offers readily absorbed. The
traders a rule. tried TO force a reaction.
but were only able TO check the advance A
number of railroad corporations made an
nouncements to-day that they had successfully
placed some bond issues with leading
banking interests. This was considered an en-
couraging factor. The market shaded off
what from the best prices the failure OF
the Produce Exchange Banking Company Of
cleveland. The cause of the failure was
defalcation OF It's cashier. who is supposed TO
be $4,000 short in his accounts. Officials say
depositors will not lose a dollar.
Meyer & Kiser.l
NEW YORK Jan 22-Substantial strength
was again in evidence in to-day's stock mar
ket, although it was not quite so aggressive
that of yesterday. Manipulation was not
so fragrant in certain sections and the tone
was more natural than for several days 1t
must not be inferred that there was no arti-
fetal marking up of prices, but 1t was OF a
milder order than is customary with the pro-
fessional operators who are behind such move
ments. Money matters continue in good shape
and the preliminary indications that a very
week Comparatively heavy gains in cash are
shown, and II is possible that more than ST. =
600. 900 will be represented I'm the bank state
ment as the weeks salns IN cash As far as
individual stocks are concerned, Sugar was a
notably strong security. 81. Paul also
trading with the majority of the list
The reaction was not severe, however. I'm any
quarter The traction stocks strong, the
Steel issues firm. Pennsylvenit, New York Cen
trail and Baltimore * Ohio acted we'll. There
good buying OF Union Pacific. but that
stock reacted some in the later trading, South
eTn PACING was the object or some bullish en-
thusiasm. The close while steady. not
aggressive.
lPorterield & Col
NEW YORK. Jan. 22-But for the wire
troubles East and great delay in getting orders
through, this would have been the banner day
of the year in the stock market. Even under
the adverse conditions the volume of trading
was large The general list responded by re-
TO $50 and the common gained nearly "a point
II was only question OF buying 10 make
profits Every day new blood is added TO
bulling the market. Tomorrow bank state
ment viii record large balances.
"a. r. Thompson 4 Coz
NEW YORK, Jan. 22.-The stock market to-
day developed further strength, with prices for
all the leading railroad and Industrial issues
from l to per cent. higher than the previous
closing There were no important overnight de-
veIopments which would tend affect prices.
and only reiterate what have already
stated in these letters-that in our opin.on
stocks Will sell considerably higher. as ali the
leading room traders and the large money in
terests seem to be arrayed the Cull side We
portunfties VIII ccur from time TO time TO buy
back long stocks sold bulges. We would ad-
wise the purchase Of Southern Pacific, Union Pa
cinc. St Paul and the Wabash stocks on any
reactions.