The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-19
BROKERS VIEWS ON
THE STOCK MARKET,
Ia. w. Thomson 1

NEW YORK, March h-Room traders ap-
peared to be noting the advance and some profit
taking evident. The hesitating tone soon
disappeared and under the leadership OF the Steel
the general list worked higher The advance in
Pennsylvania is being fought by the room ele-
ment the heavy financing OF the company
knowing this fact this stock was strong in tn.
early dealing. London traded in about q 600
shares The buying in Brooklyn Rapid Transit
was considered better than for some time The
feeling in the West is more bulifshlv inclined
toward the market and Chicago houses were act
lively buying the general list Reports from the
tone after midday continued dismal. though
trading continued fairly good. The market be-
nouncement Of the failure of the leading cotton
operators. The bank statement tomorrow II ex-
peeded TO oe n fsv9 5ns one The reactonsry
manifested itself more in the diminution OF the
business than in price
Meyer & Kiserl
NEW YORK, March ls-Although his suspen-
sion the Stock Exchange was the minor feat
OF the failure. the announcement that d J.
Sully had suspended was a principal item OF
news from a stock market point OF view
to-day. The predictions OF disaster TO the big
bull In cotton at last came true and demoral-
lied cotton market resulted. The immediate ef-
feet of the announcement the Cotton Ex-
change was a heavy selling movement In tina
stock market II did nc- last long, however. and
the market recovered quickly, although II did
pr1Ces. n
of stock market traders. His commitments in the
stock market understood not TO be very
large and the effect there will not be SEVERE
The collapse in cotton speculation may help the
ket during the day strong There were
spots when heaviness developed. but the mar
k STOCKS as ia wh9se he,a vel among the active
Union Pacific, Steel preferred, st. Paul, Brook
The Brooklyn stocks were tipped for a rise very
early in the day and there was very evident ef-
vania was ' excellent at times The Steel stocks
were very strong and st. Paul acted very we'll
but speculation quiet. Sugar was taken in
hand by some Of it's speculative friends and
TO some extent. but there was some outside buy
ing. London bought Steel preferred and the coal
ers.
IA. r. Thompsonl
NEW YORK, March 1s.-The financial world
was subjected to shock to-day by the failure
OF Sully in the cotton market The stock markets
stood 1t well, and we believe that 1t increased
the stock short interest. Sully had no commit
ments of importance in the stock market and il
is not likely 10 be more than momentarily az
feeted thereby. We of the opinion that the
entire situation has become brighter and think
| that all standard stocks should be bought when
ever reactionary from whatever cause. beyond
ordinary factors, of course excepted for tho
general financial situation is in splendid shane
TO sustain knocks like that given by the suly
| failure to-day. canvass of the banks to-day
| convinced Us that the prominent interests arc
arrayed on the long side conservativey. They
say the only uncertainties in the situation
are the and the presidential campaign. and
they do not contain possibilities at present. and
are likely TO be ignored Traders sold Southern
Pacific to-day. but they sold into bag. for
London and large interests here bought There
has been good buying OF Erie. Amagamated
| Copper, and some OF the biggest houses I'm the
street were buyers of Brooklyn Rapid Transit
vestment houses. The borrowing dsmand for
stocks in the afternoon large. Judging from
| of m " are I'D To he
lieve now that a conservative campaign on the
| long side Will be prosecuted for time There
they will 10 be fed Such stocks as naltnsor va. -
Ohio and Atchison will be moved upward. For
eigners are buying Baltimore Ohio. Missouri
| Pacific he's also come in for some investment
buying. and its future earnings likely 20 on
set the bad winter reports p, We hear bull ,aIk
| caution and the taking of fair returns from time
TO time. ,,
| NEW YORK, March 1s-The same buoyant
feeling existed this morning that has character
lied the trading in stocks for the past three or
| four days. and the opening. while only fraction
ally higher. was confident and on a firmer basis.
Shortly after the initial quotations. good buy
| ing detected in st. Paul. PENNSYLVANIA. Bal
tmore & Ohio. Sugar. Steel. Copper Atchison.
| and. in fact. all through the list. This buying
comes from Keene sources and has a very de-
pressing effect on the bear contingent. There IN
| very large short interest outstanding and quito
! few stocks in good demand in the loan
crowd Should the advance continue for few
points more the shorts would. by their own ef-
After rsiiY near the openine Of rom . 10
per cent all along the line. the market lspsed
into dnlness ana some pIon,-tskng nSies ap-
some instances. reached cent. This. to US. looks
quite natural considering the steady and sud-
! den advance, and will make the rarket the
y % for the cose s ssS Z, bank as
] ment tomorrow stocks should caose strong and
continue the advance next week