The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-25
Chicago Stocks
BROKERS' VIEWS ON
IS. THE STOCK MARKET
IA. w. Thomson. ]

NEW YORK. May 24.-The buying move
ment. which continued practically without
interruption all day yesterday, came to an
abrupt cessation at the opening this morn
ing. London failed to respond to our higher
quotations. and moderate amount of stock
was sold from that center. Market seemed
to be left entirely unsupported, and the
trading element sold out their long stocks
and worked for reaction. Prices began TO
go off from the opening, and continued TO
decline up to the close. AS the day wore
on the market became more and more dull,
and for the most part was confined entlrely
to the room, but the professional element
was extremely successful IN forcing down
quotations, and losses in the active stocks
have averaged about IL points The two
great leaders, Steel preferred and Penn
sylvania, have been fully as weak as other
stocks on the. list. The bear party is 1ubi-
liant and claims that the rise was nothing
but soda water boom. The news that
comes to hard is not encouraging TO the
bull. consisting ii does of poor reports
on general business and especially gloomy
forecasts of the prospects in iron and steel.
Close was dull and weak, at about the low
est prices of the day. bad break in Chi
cago Terminal issues, with rumors OF a
possible default of the bond interest, helped
TO unSettle sentiment.
Meyer & Kiserl
NEW YORK, May 24-Weakness was
every stock traded in to any extent showed
a decline at the end of the day. There was
pressure throughout the list. and it was
effective, despite the fact that the mar
ket was extremely dull. There was no news
that might be cited to account specifically
for the weakness. No new gold engage
ments were announced, and the total for
Thursdays steamer is likely TO fall short
of 100000. Money on call continues at the
high. figure for principally all the loans
made. The market to-day was in direct
contrast to that of yesterday, and traders
seemed TO have no hesitancy in selling
stocks. London was not factor to any
extent. No stock was especially singled out
as a target and the pressure was indis-
criminately distributed. There was sharp
break in the Chicago Terminal stocks,
which was accompanied by many rumors.
1t was said that one of the roads in the
association would withdraw in a short
| might be. appointed for the property. No
| confirmation of any of these rumors could
| be obtained. The Realty stocks broke
easily, the preferred selling off sharply.
| The stock is a manipulated one. and any
F, movement in 1T has no particular signifi-
canoe. Undoubtedly the most active stock
to-day was Steel preferred, and it's net
The selling of the stock was regarded as
good. Pennsylvania was active and weak.
| The weakness of St Paul was surprise
"
market and exhibited no support. Brook
| Ign Rapid Transit lacked strength to-day.
| and the selling was regarded as significant.
| IA. r. Thompson & Col
| NEW YORK, May 24.-To-day's setback
to what was alleged to have been general
| Improvement in the market in influences is
attributed in the more optimistic circles to
the disappointing advices from London con-
| corning the Japanese reverses, and the be-
4 ginning of the coal trust hearing. Where
| efforts were made to-day to sell securities
recently accumulated sharp declines result
| ed. Perhaps a renewed effort may be made
| later on to continue professional manipu-
| lation for further advances. but i'm view
of existing conditions and the poor outlook
ahead we cannot change our opinion that
| considerably lower prices must be recorded
before permanent Improvement is realized
&c. F. Braulik & Col
NEW YORK, May 24-The bull move
menc that started Saturday and was in evil
dence up to the close yesterday seems to
| have petered out, and the professional ele-
ment were consequently disappointed. Lon
don started a moderate seller and Pitts
burg sold the Steel issues. The preferred
| lost ~ and the other stocks joined in the
weakness; Inc hst si averages loss OF u
| crease it's dividend. held strong early, but
later there was profit taking, and it closed
weak. While the trend of the market was
| disappointing, we believe on any further
| decline the list can again be bought for
turn of point two. The gold move
ment has apparently passed over and
caused barely ripple the financia
surface. In any other country but ours al
expectation of even $15.0O0,000 would hav.
been the cause of column after column IL
the daily papers and unsettled the Who'll,
financial system for the time being. Thi:
is a country for doing big things, and tn,
larger the transaction the less notice i
causes. If We can spare so much golC
without affecting the money market, i
seems reasonably sure that there is
plethora of funds awaiting investment, anc
ell that is lacking is the opportune mo
ment. 1t will come when we least expec
It, and stocks will certainly feel the benefit
Buy them now and not after they have
4 l..<l heir hr,1rr