The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-16
Chicago Stocks.
BROKERS VIEWS ON
THE STOCK MARKET
Meyer & Kiser. ]

throughout. and the active stocks all made sub
stantial gains. The average advance was more
than point. and some stocks gained more 'f tha
course OF the market be offered. but 1t Is
clearly evident from the opening that there MAS
the market against any possible break Inc
initial strength of the market worried the short
interest. and there was covering in that quar-
ter. Then there was the sentimental reason
rally. This induced some buying from the out
side. but the market was in the main PROBES
Was sembiance Of activity' During the fore
noon session there periods OF heaviness and
became EVIDENT e T HSie is mo clearer apprecs
tion of the Northern Securities decision to-day
drastic and sweeping and the only comforting
phase in IL is the assurance gratuitously offered
ton at the present time of proceeding against
other corporations. That may be true. but IT
does not make the situation any easier for any
corporations that come under the ban of yes
terday's decision. There are no new develop
point will be when the orGer is drawn up by
shall carry out the mandate of the court. Two
rumors were in circulation to-day concerning
embraced by the Northern Securities Company.
One was that a Canadian company would take
That is plainly foolish. since a foreign corpora
ton cannot violate the law with any more
impunity than domestic. corporation. The
other rumor was to the effect that the Erie
would be the holding company for the three
roads That is old story about Erie. but it
the Erie issues among the strongest on
the list. Among the active and strong stocks
Sugar. st. Paul. Brooklyn Rapid Transit, Penn,
sylvania, Union Pacific. Steel preferred and
Southern Railway Tennessee Coal and Iron
was also very strong. The tone of the market
stock came out in the later trading. but it did
not sufflce to induce weakness. There was good
of the Steel stocks should be attributed to bet
ter trade conditions During the noon hour the
market Jagged somewhat, but IL braced up
speedily and acted well during the afternoon. as
it the r rsTv rsdns
stocks here to-day and that was also favora-
Pscc aod na a Sf was in
to foreign account. The Corn Products directors
the daT on rather the and
do not believe that the present strength will be
indefinitely maintained.
Ia. r. Thompson Col
NEW YORK, March 15.-Conspicuous absence
| of liquidation marked the course of the stock
market to-day 1t was a remarkable fact to
note. The Northern Securities decision has not
shaken the confidence of investors: on the other
hand it has increased their faith in the intrinsic
worth of some RroPer,5,ss whose rs, standing was
this decision. when once the country fully under
| stands it, will be favorable TO enhancement o..
the public toward the so~called trusts Is motor
| ious, and when blow like the present one has
favoraby impress the small investor. AS to
the fear that the government may prosecute
! the highest authority to-day that no such
action is contemplated II is understood
| that prospective restraint combinations VIII De
vigorously attacked, but that existing corpora
tions having the power TO restrain trade and yet
| not exercising that power, viii remain I'M
moested. This is concession TO capital that
could not well be avoided and the shrewd at
| to prosecute by the close margin wherein their
victory was won AS to strike suits there never
| corporations from Matchmaking processes. In
regard to the outlook for the stock I market IN IN
! belief that standard dividend paying stocks
should be bought all slumps. The prospects
favor good active trading market for a time,
| but PREFERENCES must be given 10 the long SIDE
| & Ohio Union Pacific. Southern Pacific, Mis-
| souri, Pacific Missouri. Kansas Texas, Brook
being among the best propositions for the bull
! side, owing to peculiar reasons we also FAVOR
| the Steel stocks. especially Tennessee Coal.
| IPorterfeld & Col
NEW YORK, March 15.-Stocks opened up
about as strong as they were weak towards last
nights close. A generally better feeling seemed
to prevail all along the line, and the entire
no particular or Individual semblance to the up
ward trend; it was apparent in the low-priced
London came in with about q. 900 shares on the
buying side and had the orders well distributed.
that side in the last six weeks. 1t is very
evident that the old Northern Securities hoo
of course. we do not look for any rampant bull
market at this time we feel inclined to voice
| much higher level In the next sixty days. Re-
verting back to to-day's market. after the first
bulge in the early morning there was slight
| recession. but this short lived. for steam
was turned again about noon. and from then
| until the close the procession marched steadily
| upward and closed with bang at the best
| prices for the day and the best market in over
| a month. 1t has all the earmarks of going
| higher tomorrow
| Ia. w. Thomson
NEW YORK, March 15.-The market to-day
has reflected what il could do with the great
weight of the Northern Securities removed
With every condition of business reviving from
of the country. enormous exports. high prices
for all classes of cereals and cotton, return
OF normal railroad earnings All these condi.
tions have been patent to insiders for some time
and in the interim the public have not only sold
out their long stocks, but many large operator,
are heavily short. Hence only one result car
be looked for. and that is advancing market fol
the early spring at least At present writins
there seems to be great indications that Their,
will be no strike in soft coal districts. This In
| stocks to-day. Hard coal operators sympathize,
| with this movement-many of these securitie
| being grossly oversold, especially Pennsylvani:
| and Erie Enough strength in the latter demon
strated this fact The net results of 1903 for TIT
Tennessee Coal and Iron Company passed un
| equal per cent. its stock. This is certasnl,
| very gratifying, and more. so these profit
| have been put hack into the property which
will give greater net results eventually. Witt
| Steel issues should sell higher The marke
closed with great activity throughout the list
| with indications of higher prices o-morrow
| However, we cannot advise buying on thi
| bulge likely there will be some recession
| tomorrow.