The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-16
BROKERS VIEWS ON
THE STOCK MARKET.
IA. w. Thomson.1

NEW YORK, Feb. 15.-The market as a
whole was a tame affair to-day. The opening
was quiet and featureless. Amalgamated Cop
per advanced a point on the strength Of the
metal. which had advanced u cent a pound.
Baltimore Rapid Transit was another feature
of strength. The news Of the day was the
statement of earnings issued by the Erie Rail-
road for the quarter ending Dec. 81, which
showed a decrease Of 81, SOC. 900 and a surplue def
cit after charges of SIS, 900. A leading steel
authority states that the success OF several
ly will soon be felt in the iron and steel trade.
United States Steel Corporation advanced the
price of wire produce 81 per ton. The market
closed with a firm tone, Amalgamated Copper
being the feature
Meyer & Kiser.l
z YORK, Feb. 15.-Absolute stagnation
prevailed in the stock market to-day, and the
record Of transactions is about as uninterest-
ing as it is possible to conceive There is no
doubt that the market was entirely professional,
and the most earnest search could not reveal
any outside interest. Traders on the foor gave
up the attempt to animate the market early in
the day, and the operations thereafter were
spasmodic and embarrassing. There was a lit
tie manipulation in a few specialties which
sSiis was inconseouentiai. Brooklyn Rapid Tran
sit was in the hands of his friends and advanced
a little. The pool in that stock is determined
that it shall sell at a much higher price; II
may do so if the pool remains intact co. and IL
n G1CIntlAS AthAoAAA u
stock in the face Of a falling market is one
of the most Improbable ventures that can be
wisdom are not always synonymous, and In
this case they may not even mix A movement
s EfocS is Of so little importance that it had
no influence. The stock that attracted most at
tention was Consolidated Gas 1t was remark
a stock, and scored an advance Of three and
a half points. Bullishness on that stock was
new rehnancing deal. but this is only rumors
attributed to a rumor OF pooling OF the Van
dsrbi In.r end w Rock desd rho heie stssi ,ss Tss s Tsst of
severely from inertia. Money continues easy.
There was no news OF Importance.
IPorterfeld & Col
NEW YORK, Feb. 15.-Despite an irregular
and rather weak foreign market the home mar
ket acted as If it had cut loose from war
and other sentimental effects. Wall street I'M
doubtedly has long since discounted any prob
able effect that a far Eastern war might have
upon our securities and all looking TO the fu-
ture. With call money down TO " per cent.
tiaI election Offering at 4 per cent. investors
are picking up investments. Amalgamated
Copper was one OF the pest STOCKS on Sne 1st;
and the known demand for its products were
the features. A gain Of over 81 a share was
stimulating effect on the whole list. Market
closes strong but dull around the best OF the
day.
NEW YORK. Feb. 15.-That the stock market
is sold out was demonstrated by the move
ments to-day There was intense dullness at
times, but the list exhibited a strong under
tone. Specialties were easily advanced. Con-
solidated Gas. which we believe will go higher,
advancing on investment buying. The devel-
opments of the day were not disconcerting and
were not unfavorable enough to cause bear
ism activity. Lack Of liquidation and the con-
tinuance of easy money were the strong cards
of the bull contingent. which we believe will
be successful in bringing about a general re-
covery this week. particularly along special
" lines. We are especially interested in
Amalgamated Copper. a canvass to-day OF
leading copper metal interests shows that the
trade is in a very optimistic mood and IL ex-
poets an advance in the metal 10 l3 cents.
which means better times for Amalgamated
favorable decision in Montana. We expect 10
see this stock taken in hand at any time and
subjected TO a sharp rise on the large short
interest now extant therein. We would buy
II whenever soft. Insiders have been buying
Amalgamated Copper on the last break con-
tinuously- one of the important features OF
the day was the announcement that the Cuban
loan had been oversubscribed, which is inter
preted as meaning that the demand for good
bonds is improving. This will extend to the
stock market again. We are informed OF a
good rise pending in Rock Island which is evil
IDENTIFY oversold. We also believe that Brook
Ivn Rapid Transit will soon see much better
Of New York Central and Pennsylvania at
present. while they may rally with the general
Improvement We do not believe they will main
tain such recovery.