The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-23
Local Financial Gossip;
Bankers and Brokers' Talk

delayed. We notice that part OF cur inauir-
ers come from people in mercantile hfe VINO
slower this year than has been the in the
last few years. and that in consequence they
than into their business knowing that later in
the year. or after a longer period they can real
lie on such investments if desirable.
Meyer Kiser Cfrom Bartlett. Frazier & Co.'S
wall-street house).-''It has been pointed out
before that there are sufficient elements in the
situation 10 warrant a strong market but this
fact has been seized upon by interests who de-
is strong enough 10 stand artificial stimulation
but the process does not make 1t healthier IL
would be unwise in estimation to continue 1t
indefinitely. A well-knOwn banker who mas
clear insight into the situation told US to-day
ket TO take its own course. and that IL wo9id
in time show good advance. lie SAID ne dld
not Ike TO see certain professional elements tah
price OF stocks inasmuch as they must eventual
ly sell them and possibly cause severe break.
f, The stockholders of the Central Union Tele-
phone Company held their annual meeting in Chi
cago this week Horace F. Hill added to
the board Of directors. The financial state
ment showed a surplus of SS15,OOo an increase
OF approximately $4,000 over the last hscaI
charges this sum had been even better The
number OF stations connected during the year
mailed to stockholders froni Indianapolis as soon
as completed.
THE opening OF the year in the mortgage
loan field is most encouraging to the opinion
of the large dealers in that class of securities,
says Bond and Mortgages, in the current issue
They unite in declaring that such embarrass-
ment caused by the conditions of last
year are passing away and there Is to-uay
better feeling every department. OF the loan
business The situation in the East has been
different from that in the West. wall street
through its declining prices, the nlgn rates
which 1t offered for loanabl funds. and the at
Effectiveness of OF its securities at their
recent low levels. has diverted into its channels
much money that normally would have sought
mortgage investment. Statistics show that the
total OF mortgage loans for 19S-S26S 600 OOo-is
$50 600 900 less than that for 1902 most or the DIFF
ference having been developed within the last
six months. OF greater significance, however, Is
the fact that the amount loaned by institutions
savings banks, insurance companies, ana the
like-during the last four months is only about
half OF what il during the corresponding
period OF 19O2-roughly, s17O0oOo0 as against $780,
,''Where activity exists in the stock market 1T
is needless to say it is the result of manipula-
tion." says the United States Investor. Now
that the Hoffman House crowd have given
Brooklyn Rapid Transit rest and the clique
working Amalgamated Copper are temporarily
taking a vacation. the pool most in evidence
is the Hawley contingent Nobody pretends TO
know what these people are up TO. III EDWIN
Hawley is putting his various stocks higher in
order TO market them upon the dear public, he
certainly can be finding little success. The
strength in Colorado Southern, Wisconsin Cen
trail and Chicago Terminal Is largely placed at
his door. 1t is quite possible that he may ulti-
mately form some combinaton OF these various
properties, though in this contingency a very
strong financial backing would be necessary The
sta1l investor will make no mistake in exer-
cNng discrimination in the purchase of such
issues"