The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-29
Chicago Stocks.
GBy A. r. Thompson & Co.'S wire.l
BROKERS VIEWS ON
THE STOCK MARKET
Ia. w. Thomson. ]

NEW YORK, March 2S-London was the only
important influence in the market to-day Cables
came higher and foreign buying helped to make
the opening better than Saturdays close. Union
Pacific opened strong, and this fact did much
to increase buying. as this was taken as fore
shadowing further activity in the strength Of
are said to have been more less actively in
terested in the market in the past few days
Rumors were heard again to-day of A settlement
between Amalgamated Copper and Heinze. Cop
per advanced sharply These rumors cir
culated on every advance in Amalgamated Cop
per. and should such settlement occur the stock
will have dividend before the news reaches
on the metal trade situation. The action Of the
Mexican Central was contrary 10 the general
tendency. The stock declined rapidly on what
appeared to be liquidating orders. Then IL was
thought the selling originated from a former
member of the collapsed Sully cotton pool The
first hour. although the tone remained firm. The
advance on Louisville Nashville was the
PaciHc We're strong ON the b,lIisb iu onnnsition
of the Gould party. The closing was quiet and
dull, but with strong undertone.
IPorterfeld & Col
NEW YORK, March 2S.-There was dull
market to-day. but a strong one. Early trading
was extremely dull and cautious. The crowd is
awaiting further developments from merger dis
tribution, but no one cared to sell stocks. The
With more confidence. Southern M roads dss we a
taken hold of and Louisville and Nashville
it's friends other Southern securities re-
sp0nded In the Western rails St Paul gained
81 and Union Pacific and Southern Pacific nearly
as much and Missouri Pacific a full point,
Pennsylvania was active and advanced IL
points In the ndustrials United States Steel
was prominent. while Copper was freely bought
by the old pool and sold above 50. The entire
further advances We look for a higher mar
ket tomorrow. with Louisville & Nashville one
of the leaders.
IA. r. Thompson & Col
NEW YORK March 2S-Rearsh aprressio,,
after the early morning strength of the market
to-day. failed to make any material impression
the Northern Securities trouble was not settled
finally. No liquidation forced by the earl
offering down OF stocks. and few were Offered
for sale except by the short interest. Dizziness
ensued, and there is old proverb in Wal
street that when the stock market becomes dull
upon declines it is time to buy stocks. Thi,
proved true in t he trading today for in III.
under short covering and some speciality buying
particularly in Louisville & Nashville and United
States Steel preferred, which were we'll bought
stand that prominent bear interest on the lat
ter stock has reversed it's position. Consolidate,
acter OF buying forecasts further Improvement
The floor seems very anxious TO bull Union Pa
Pacific should be bought. together with St. Paul
whenever soft The buying OF Bache i'm Come
to-day was considered very good. and. as w
should be bought and held for good profits Ii
the afternoon trading there was noted anon
miscellaneous operators as well as professional
a disposition to take on more long stock and
reported that London had bought a consid
cradle amount on balances. Foreign sentimen
is very favorable TO advance in this market
We understand that there is large foreig
short interest in Erie and Reading. and we be
lieve that both stocks may be advanced easily
We would not be surprised 10 the FRS; Ma
tonal Bank people take hold of Reading soor
of Mexican Central. based upon some pendin
favorable developments.