The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-24
BROKERS VIEWS ON
THE STOCK MARKET.
Ia. w. Thomson.1

NEW YORK March o3.-Market was quite
strong again this morning, and unusually
active. particularly Union Pacific. Southern Pa
cifc and Pennsylvania. 4 great loss of stocks
came out on the advance, and in the afternoon
the list sagged. running off rather sharply at
the close. Union Pacific was heavy all day, re-
acting 3i4 points: 1t acted as though large in
terests considered rise too fast. At times Erie,
Rock Island and Baltimore & Ohio were taken
in hand and run up sharply, but they all lost
news. Sentiment was generally improved by the
peaceful outcome of the Northern Securities
more frmness around IS than for some time.
The closing was heavy.
Meyer & Kiser.1
NEW YORK, Marcn 2s.-There variety
enough in the stock market to-day to suit the
most fastidious and alternate exhibitions OF
great strength and marked weakness were given
Unfortunately the market closed extremely weak,
and in the last half hour of trading there
severe break There runaway stock ex-
hibition. such as Union Pacific gave yes
terday. but number of stocks during the
Southern Pacific was bought heavily and
the buying considered extremely good.
ditions obtaining in the market. nor would it be
wise to make specific predictions TO its future
ton Of the present bullish market is purely 10
CAL that it emanates from the operations Of one
Accomplishment of certain specific purpose the
market will revert to lethargy II not to actual
the Northern Securities decision, and on the con-
trary there are many dangerous possibilities con-
tanned in il. The dissolution of the Northern Sc
curites Company. however. made possible GER
tain other alliances which will materially benefit
the Union Pacific group of roads, and Incl
dentally help the three merger roads When pres
p os Ria under the Northern securities plan will
be as pigmy to giant in comparison with the
of interest The Hartman interests have as
serted for a long time that both Union Pacific
mo ~ a
in the stock market, and while artificial stimu-
iation and specific action on certain stocks may
give an appearance of great strength the period
of reaction is trailing only short distance be-
Pacific and Southern Pacific, We're Pennsylvania,
Rock Island, Erie, Consolidated Gae. St Paul,
Atchison. Erie was very strong on the revival of
old rumors to the effect that it would be the
Eastern outlet for Northern Pacific. The trading
to-day was in heavy volume. the total sales be-
ing well above 1000 900 shares before O'Clock.
| The market this afternoon relatively quiet
Northern Securities on the curb was very err
ratio. Northern Pacific was dealt in the curb
now at the gold point Exports are not likely for
several days at least
IPorterield & Col
NEW YORK. March 23.-The scene shifted
after the opening. Around IS Union Pacific was
considered out OF line with the market and
while sales for profits were going on in it, the
others being bought with confidence. Penn
| syivania treated the shorts to heart breaking
nervousness by quickly advancing to 100. The
volume of business was large and we'll dis
/ tributed. Looking backward comparing the
meagre sales of a few weeks since. which re-
corded couple of hundred thousand shares,
with to-day's business, it almost seems incredi-
bic. The railways all strong and made
gains ranging from / to points. In the last
hour there was prcft-taking reaction, and
when ii is taken into consideration how many
months have passed without showing proHts il is
but natural occurrence. The market is now an
active one but there will be backsets right and
proper. Buy stocks.
IA. r. Thompson Col
NEW YORK. March "a continuance Of the
! aggressive bulish operations noted in our letter
of yesterday is 10 be reported to-day ia the
stock market. Enormous realizing met large buy
| ing ORDERS and great percentage OF these buy
| ing orders were, glad to say, for account
| OF the outside element whose interest in the
stock market is Increasing at gratifying rate.
The tone of the market was exceptionally strong
The fundamental factors so irresistibly bull
ish that small adverse news developments count
| FOR naueht. Inc wave OF buying makes even old
I timers wonder 1t locked like 1901 We expect
/ this tidal movement TO eliminate temporarily
! possibly tomorrow. but upon such hesitation we
] strongly recommend the purchase of any OF the
| standard stocks. being Thoroughly convinced that
| higher prices are certain. We desire to-day to
! especially call attention TO Missouri Pacific we
| have received information this stock, ndicat-
ing that the last annual report did not show the
real earning power. which. instead OF being 10
ton TO Erie. having knowledge OF a movement
that is likely to carry the stock above so An
Amalgamated Copper indicates that the stock
will sell up 10 points before down g. and the rise
in Copper metal to-day leeds us 10 strongly
recommend its purehas The Rock Island issues
were taken in hand to-day. and are OF the
opinion that the common stock will be put a bove
30 very soon. The preferred issue is good for N
Atchison to-day. and as there is big short in
tere.t in this stock believe IL can be forced
up points at the expense of the bears There is
no necessity for apprehension over gold exports
of which there was considerable talk to-day.