The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-13
BROKERS VIEWS ON
THE STOCK MARKET
Ia. W Thomson !

NEW YORK. April l2-After opening at
fractional declines the list suddenly changed
'front.' ard under the leadership Of Union
Pacific and Atchison. sharp rally occurred.
which put prices fractionally higher than yes
terdays close. Spectators who expected TO see
London lower and a lower range Of prices here.
in consequence OF the crop report, were dis
appointed In the second hour Union Pacific.
advanced sharply active buying. II evil
dent that the inside interests still hold the upper
mar nano ana wnen II s9i,s .heir purposes the mar
strong feature. There has been evidence OF ac-
The WIS., isse s.ocS ror Ine Two week.
tention on the strength OF the debenture bonds
closing was at the lowest OF the day. The sharp
break near the close was caused by Attorney
the Northern Securities case.
IMyer & Kiser.l
NEW YORK. April 12.-There was sensa-
toinal break in the stock market before the
close OF business to-day. led by Union Pacific.
That stock simply collapsed. selling down 10
$50. the high prices of the forenoon session
being 1875. 1t rallied little from the low
price, but closed extremely weak. The break
at the close the elimination of weakness
that pervaded the market during the entire
OF Union Pacific was the intervention OF At
torney General Knox in the Hartman suit at
ST Paul, asking the court 10 deny the right OF
the Hartman interest TO interfere. This was
entirely unexpected and coused a sensation in
terests were materially strengthened IN their
contentious by this action of the government
during the afternoon and traders were inclined
to get rid OF their long stock and take the short
on the list showed a decline at the close Be-
sides Union Pacific there were affected ST.
stocks. The market closed weak and nervous
Perhaps the strongest security on the list was
Mere heavy and the price was well maintained
huf hroL 81
the rest of the market. ST. Paul exhibited weak
sold off easily and Pennsylvania WAS an times
n nsEad I pFsssTre Copper also
very weak. Money continues easy.
IPorterield & Col
NEW YORK. April 12.-After opening around
last nights closing prices. a fraction above
1t, the stock market made further advance
which, in the OF Sugar, up TO Ia. This
had a good effect on the general list and held
prices very strong for the first hour. After that
sudden selling movement in Mexican Cen
trail started. and extended 10 nearly 81 share
in that speciality This. together with raid on
Sugar. dragged the entire list downward IL
wiped out all early improvement and more too.
Pennsylvania was sold by good people and
Metropolitan. st. Paul. Atchison. Copper. and
the Gates speciality. Realty preferred. A Iiqui-
some selling by shorts helped the recession along.
i Best informed houses say Il Is but natural after
have good setback. and advised taking profits
yesterday and to-day. Union and Southern
Pacific were in the weak procession. too. The
downward trend continued well up the close,
and final prices are at about the low OF the day.
Looks lower TO US for tomorrow.
IA r.. Thompson.l
NEW YORK. April 12-The market up to the
final hour to-day rather heavy in tone.
with particular pressure noticeable any
where dealings being mostly professional in
character. The bad news however.
have exerted it's effect. and upon the announce
ment late I'm the day Of the opening OF the
Northern Securities suit I'm St Paul, and the
bitterness displayed by attorneys both sides
I'm their preliminary remarks. accompanied by
vague rumors that Attorney General Knox in
tended TO institute proceedings against some
other trusts. the market broke sharply. Stocks
that led the recent advance suffered most. in
the absence OF the notable support that had
been given them up TO this afternoon. IL
said on the floor that considerable liquidation
was observed in these stocks. which encouraged
the bears to raid them Sentiment In the street
has undergone considerable change and there
was no general feeling prevalent tonight that
the powerful interests that have been advancing
prices Cor the past three weeks will continue
their efforts in the face OF the uncertain and
adverse conditions now existing. which would
initiate against attracting a public following.