The Indianapolis journal., 1904-05-05
Chicago stocks
BROKERS VIEWS ON
THE STOCK MARKET
La. w. Thomson.l

NEW YORK May I've have had
dull and uninteresting session to-day. In a
general way it may be said that Union
Pacific WAS strong and the Steel stocks
weak and the rest of the list fiuctuating
aimlessly without much change except IN
the case of a few specialties. The weak
ness in Steel stock has continued now for
several days II was helped to-day by the
dissolution of the ore pool. which is an
unfavorabe thing for the trade in general.
Union Pacific has been tipped OIL Tor
rise for several days. and to-day the rise
was made good. The buying was based on
a very optimistic interview given out by
Mr.. Hartman upon his return from the
West Amongst the specialties, Realty pre-
ferred scored a sharp advance on manlpu-
lative buying. The prospect OF reduction
in the price of steel will affect this com
pany favorably. Railroad earnings were
rather mixed. The most important report
that of Rock Island. being bad. The
public holds off entirely and all OF the trad
ing continues as professional as heretofore.
There is no change in the money market.
and call and time funds are still lending
at the lowest figures.
Meyer & Kiser.l
NEW YORK, May 4.-There was a good
undertone to the stock market to-day. and
at no time was weakness evident. With
one or two exceptions the active stocks
to regard the market more favorably
than for some time. The inspiration of any
strength that developed in the market
can be found in the bullsh interview with
Mr.. Hartman. published this morning. This
interview might be called Mr.. Hartman
annual talk, nasmuch as his reticence is
only marred once in twelve months. when
he returns from his Western inspection
trip. There are a lot of hard facts in
what Mr.. Hartman says, and IT is well TO
haa hnn in min
very naturally the chief beneficiary of Mr..
Harriman's optimism, and that stock was
very strong throughout the day. The chief
point in the Hartman interview is that
business depression iii the West has been
exaggerated and that the outlook has very
much improved OF late. 1t is very easy TO
attach special significance to the Harri-
man optimism. and professional traders did
so by constituting il as bullish on the Har-
riman stocks. Conditions in the steel trade
arc not good, and the tendency is not TO
improve, either. Nearly S2.OO0.000 gold was
taken for export to-day, but money rates
continue scarcely unchanged AS already
stated. Union Pacific was the strongest
stock the list during the day, far
as the relatively active stocks are con-
cerned. Southern Pacific sympathized with
it. Rock Island preferred had a sharp ad-
vance on a small volume of trading. This
stock is closely held and any demand is
| likely to cause an advance Realty pre-
ferred was very strong on rumors OF the
possible publication of the plan of reor-
ganization in the immediate future. Anal
gamated Copper, Pennsylvania and ST.
Paul were steady. Some of the general
selling to-day considered good. Lon
don did very little in this market.
IA. r. Thompson & Col
| NEW YORK, May 4-Bun traders to-
day took the Hartman interview as a basis
for a moderate demonstration. but 1t was
| not carried far because of no free offering
| of stocks on the advance. On all attempts
| to take small profits the market weakened.
| There is no sign of public interest in stocks.
| and the sentiment in the street continues
| largely bearish on existing conditions. This
| rally may be carried somewhat further
| and induce some short covering, but ii is
not likely to last long. Indications all point
| 10 a continuance of the dullness and a sag
| ging tendency is generally looked for.
IC. F. Braulik & Col
NEW YORK. May Awhile the market
| is a narrow affair." there was more tone to
| il to-day than for days, and it has all the
| earmarks of inside buying. The greatest
| activity was in the specialties. The Gates
| people bought Realty preferred. which
made a new high mark above 60. The hon.
| est strength was in the Hartman stocks.
| Union Pacific was the leader with a net
| gain of one point. Rock Island preferred
| came in for attention and gained 81 share.
| There was good buying in Southern Rail-
| way preferred. Near the close stocks as
| usual were subjected to room traders TAX
| ing profits and the close was little below
| the best prices of the day. We believe
| Union Pacific, Realty and Rock Island will
sell higher.