The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-27
Chicago stocks.
[By A. r. Thompson 8 90 viz
BROKERS' VIEWS ON
THE STOCK MARKET.

NEW YORK Feb. 26.-The opening was ir-
regular and the tone hesitating. The great FIRE
at Rochester has some unfavorable Influence
The threatened soft-coal strike was said TO exert
some influence. After the FIRST hour prices lost
ground and a heavier tone pervaded the deal
ings. The ever-ready room trader. who
bullish at the close yesterday, sold stocks this
morning tho theory that yesterdays advance
merely due to covering OF shorts and not OF
a permanent character. a fact not very much
noted nowadays is the small but constant stream
States by the way of San Francisco. This
doubtedy comes from Japan and Russia in pay
ment for goods. London market inactive.
but with but trifiing changes. The market
mains in an inert position, little affected by
Meyer & Kiserl
NEW YORK, Feb. 26-There was a reactionary
tendency noticeable throughout the trading in the
stock market to-day. The active stocks showed
substantial declines from the highest prices OF
the day at the close. and there was entire alb
sence of aggressive strength. The market vas
wholly professional and extremely narrow. The
news developments Of the day were not i'm
portant, with the possible exception Of the re-
fusal Of Justice Gilderseeve to grant the in
junction sought by Maginniss in the Boston &
Montana suit and the dissolution OF the prelimi-
nary injunction already granted. The injunction
was intended 10 restrain several OF the subsidi-
airy companies from paying dividends the
fell fat and Amalgamated Copper itself did not
benefit by il. Monetary conditions to-day con-
market was quiet, but there slight hard
ening of the time rates Traders were essentially
bearish throughout the day. There was some good
selling of Pennsylvania and that stock evidenced
very little strength. Atchson was weak and the
publication OF It's January figures, showing a de-
crease OF more than per cent in net earnings.
emphasized its weakness The decrease is at
tributed TO the coal strike IN Colorado and Utah.
Among the active stocks during the day were
St Paul. Brooklyn Rapid Transit. Atchison.
Amalgamated Copper, Erie and Southern Pacific
The trading in New York Central was not very
heavy. The most active stocks ST. Paul
and Brooklyn Rapid Transit. St. Paul DISPLAYED
very little strength and lost considerable frac-
ton OF its early gains In fact it showed a de-
cline OF more than point from the high point
of the day Erie was comparatively weak also.
point from its low price, but II sold OF again
There was short dGts selling Of Southern Pacific
closed with a generally weak tone.
IPorterfeld & Col
NEW YORK, Feb. 26-The stock market
opened rather tame and fractionally lower for
the majority Of the list. There Was however. a
better feeling among the traders and some good
buying orders made their appearance shortly
after the initial quotations. which had a stinu-
lating effect and caused rally of considerable
magnitude for such dull market Sugar did a
nights close Brooklyn RAPID Transit also aiso W ,nss
well bought and rallied Ia from previous close
The rest of the list gained from = 10 a OF a
point. About noon some proft-taking orders APP
pearing. caused slight dip. which must be ex-
pected in the present narrow state OF the mar
ket, and is bound 20 from 20 time
The great activity in the grain markets has alb
sorbed more or less attention among the trading
public and naturally has a deteriorating effect
on stocks At these prices we cannot advise any
one to go short as foreigners bound TO rscog-
nze the stability OF securities in the present
state OF public nervousness on the other side ana
seek investments in this country In preferences to
/ their own This viii undoubtedly have the ulti-
mate erect OF putting good stocks much higher.
/ even without the assistance OF own invest
| ing public. After the Injunction In the Copper
case was denied that stock had a sudden spurt
and sold up quickly u Of a point but the
Rochester fire evidently put a damper on thnnrs
and the close ragged at about or Near the
| low point Of the day