The Indianapolis journal., 1904-01-07
BROKERS VIEWS ON
THE STOCK MARKET.
General List Showed Losses OF Two
Points or More Yesterday
Steel stocks Break.
La. w. Thomson.l

NEW YORK, Jan. 6.-There were declines to-
day in the active trading list of from to 3
points on heavy London selling at opening sales
for foreign account, estimated at 10000 shares.
The passing OF the United States Steel dividend
on the common stock and the very bad state
ment issued by the company, together with the
acute tension of war. has likewise influenced
the days trading. In the afternoon session pri-
vate wire reports from San Francisco that war
had been declared again caused heavy selling
movement. The break Of lc pound on cotton
seems TO foreshadow that war looks ominous.
But this should not affect the stock market seri-
ousy and il will probably only be temporary.
Meyer & Kiser.l
NEW YORK. Jan 6-To-day's market was ir-
regular reactionary in spots feverish and alto
gether an Unbalanced affair. There were times
when weakness was apparent. and again
strength, or at least steadiness, developed unex-
pectedly The net results OF the days transac-
tions, however. amounted TO relatively heavy
losses for a majority OF the stocks. The action
versely Influencing factor. During the afternoon
trading the common stock was forced down to
the lowest price on record ana the preferred
stock also sustained heavy loss. Amalgamated
Copper firm Cor a time, and then reacted.
Sugar abandoned its aggressveness and sold OF
with the rest Of the market The minor industri-
ais weak and specialties were neglected or
reactiOnary. The significant feature OF the mar
ket seemed to be the ease with which St Paul
sold of That stock lacked strength, and many
regarded it as of peculiar Significance The Rock
Island stocks were very weak. possibly because
Of the wreck on the line OF the company Union
Pacific broke easily and severely. and the point
crty have peculiarly good information from
abroad. Southern Pacific held relatively well for
"A time. and then eased of. Standard railway
stocks moved In sympathy with the rest or the
market There were few news developments OF
IPorterheld & Col
NEW YORK Jan 6.-The war news made pos
sibIe to-day another onslaught on the stock mar
ket Reports claiming Japan's occupancy OF Ko-
rea. coupled with the unfavorable report OF the
United States Steel Corporation caused the real
izing The professionals hammered stocks freely
But with ali this there was no sensational de-
cline and the list at the close showed only about
/ 10 points loss. Steel common held strong
around 10 and closed there. This is a remark
able show OF strength, considering that the divi-
dend has been passed. The preferred held strong
and has many friends
IA. r. Thompson & Col
NEW YORK. Jan. 6-war scsres and Steel
furnished the chief items in the category OF the
bears discussion to-day and pressure put
upon the general list with vigor and vim. Look
ing the market. IL is noticeable that not
much was accom- plished in the big dust raised
IL is quite evident. therefore that enforced liqu-
dstion has been completed. that the stock ma rket
IL becoming oversOld. and in the absence of an
actual declaration OF war there viii be a good
recovery. Fundamental conditions favor H. su-
ket. with speciality leadership. Is on the pro-
gramme. Keep clear OF the industrials as a
rule. for the present. with the exception OF
American Sugar and Amalgamated Copper which
railroads good including Alton. Chicago
Terminal and Glover Leaf IL should not be
forgot that plenty OF money. assured by easier
rates to-day. viii enable the pools to boost their