The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-28
BROKERS VIEWS ON
THE STOCK MARKET
Ia. w. Thomson. ]

NEW YORK Jan. 27-The session to-day was
marked with a continuation of irreguarity noted
in yesterdays transactions. Profit taking
seemed to be in order on hard spots in the
active issues. and while manipulation APP
parent in many instances. the recent activity
of a certain large Western firm not
sumed. And it believed that the large in
terest Denlnd the market was allowing IL 10 take
care of itself, outside OF few speclalties. The
mast active feature of the list was Baltimore
* ohio, which was taken IN large lots and
scored good advance the days transac-
ton. There was absolutely no news bearing
the movement OF this stock, and it is be-
leved that IT is only part OF a general plan
to create a higher range OF prices for our active
railroad issues. strong, steady demand was
shown in the market for bonds and quite a de-
mand tor standard issues from abb Dad. The
only stock in the market which is being maze
to appear like a short sale is Amalgamated
Copper. The tape would indicate continued
liquidation, but we are very certain that the
public will eventually be deceived the
ment of this stock. and that the security Will
record much higher hgures before long. Mr..
Heinze will to be warning factor in the
Copper situation before spring has passed.
IA. r. Thompson & Col
NEW YORK, Jan. 27.-The stock market to-
day very strong in the morning, foreign
buying being largely responsible, but in the aft
ernoon stagnation resulted. and manipulation
suspended for time, although the general
tone of the list was good and the bears did not
seem disposed to try to repeat their last un-
profitable attack, finding that the list becomes
oversolo too readily. The convalescng period is
progressing in an orderly way and il will not
be long before the steady demand for bonds
overfiows into the stock market inasmuch in
vestors will either have to buy stocks realize
very small returns their capital. 1t is an
important feature that the large interests would
not permit bond issues this time unless they
deemed the situation opportune. New issues
OF worth heavily oversubscribed London is
finding money a drug and bond issues there are
readily absorbed. The demand is extending to
our securities more and more, they being really
given the preference because of the cheapness
comparatively speaking. That foreign buying
bly, true, Berlin having bought heavily of b.
81 o., which was strong to-day. in the last week
minimum, making it easy to advance that is
sue. Our information is that the large railroads
quietly placing orders for structural ma
four ' months We are still bullish on s'' Anal all
gamated Copper, Union PACING, Southern Pacific,
Atchison and the Wabash issues and believe
they will all sell much higher before the week
is out unless we should have some bad news
from the far East.
Meyer & Kiser.I
NEW YORK, Jan 27.-Fair strength charac-
terized the stock market to-day although there
periods OF reaction, real weakness de-
veloped. The high prices of the forenoon were
not maintained throughout and there was profit
taking and short selling in evidence at times.
The bea-ish element In the market is disposed
to contest any further advance. while the pro-
can put to a higher level. Taking to-day 5
market in detail We ind Baltimore & Ohio, the
Erie stocks Reading, Union Pacific Southern
Island had good advance and then reacted.
The steel STOCKS were uull, Out acted talfly
we'll The strength of Pressed Steel Car was
due publication OF its earnings. The
fractions were dull. Amalgamated Copper was
steady. Copper is tipped for better prices. Real
" showed signs Of further manipulation. and
we are assured that ii will sell considerably
above Go. We do not vouch for the accuracy
of this information There are a number of
advantage of any strength TO put their special
ties on higher level. News is meager
IPorterfeld * Col
NEW YORK, jan 2.-Although there were
two sides to the market and some weakness
displayed times. still the final outcome was
an improvement for the list. Gates's speciality,
Realty preferred. lifted the opening
and held half of it. Baltimore 4 Ohio was a
distinct feature and has now advanced 50 a
share since it listed the Berlin bourse
Monday. The net gain to-day was nearly s.
a share, and the trading was in large volume
Well informed people say IL will par on
! this movement. The other coalers strong
in sympathy. Pennsylvania bought on the
expected large earnings The low-pIiced stocks
Were strong. Sugar, which is tipped for I40
was subjected to some profit taking, presum-
ably by Boston.