The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-17

100 Shares Consumers Gas Trust att. 1900
After the Call
80 Shares Indiana Union Traction at. IL
$1,000 Indiana Union Traction fves at. IS
II is the effort OF a newspaper which en-
deavors conscientiously TO do its duty so give
its readers true and reliable information. This
is the spirit in which the Journals reviews Of
the local securities market are prepared and
presented to the public from day to day
Several times lately the Journal has spoken
favoraoly under the heading Local Stocks and
Bonds" Of the organization OF the Indianapolis
Telephone Company. its plan to lease the prop
erty OF the New Telephone Company and ths
extension OF this property and Of the high in
vestment value OF the stock OF the New Tele-
phone Company.
In two issues this week the Indianapolis
Commercial Reporter has seen nj 10 ''po,nd..
New Telephone stock and to discredit the at
titude the Journal has taken toward this stock
With the purpose OF defending the Journal
against the statements Of the Commercial Re-
porter. which have been interpreted as en-
deavoring to dscredit the Journals articles about
New Telephone stock and also to set the public
right about this stock. and to show why its
decline this week does indicate that tho
stock is not good investment. this article
has been prepared.
or a church social may not do much HARM but
careless incorrect statements upon financial
matters. especially in a financial community
OF this size. ofttimes have far reaching effects
and do great deal of harm.
II financial institution an industrial cor
poration-any organization in short. whose fnan-
cial standing concerns the general pubiic-is a
high-class organization. and its finances are in
good condition. and its stock is a good safe in
clines few points or that the demand for IL
is slow for few days. be paraded before the
public under glaring headlines? There is no
reason why this should be done. and there are
numerous reasons why IL ought be done.
few days ago when New Telephone stock
declined few points the Stock Exchange.
the Commercial Reporter came out in glaring
headlines and said the support had been with
drawn from New Telephone.
Such a statement liable do a corpora
ton or a financial institution a great deal OF
Reporter referred in vein OF ridicule TO the
Journals statement abou. New Telephone stock
The Journal has made statements about
the New Telephone Company unadvisedly and
none which IL will refute and it's favorable
comment upon the company's stock has been
substantiated by figures which show the truth
and judgment OF its statements. Why does not
commercial
show wherein they are incorrect or misleadingg
No. the Commercial Reporter does not try TO do
this-it could not IL II tried Instead II speaks
Of these statements in a general way and to
those who understand this matter, in an un-
convincing manner.
The New Telephone Company. OF Indianapolis.
is one Of the most enterprising and aggressive
and most conservatively managed corporations
in Indianapolis. and the Journal feels that II is
its duty TO defend the organization against
knocking statements. The company's finances
in excellent condition. shown in its state
ment for the year ending Feb. IS. which was
published in the Journal some time ago.
At the head OF the company are Simon p.
Sherrin and Louis Hollweg, two OF the most
prominent men Of the city. whose integrity and
enterprise known to everybody who knows
anything about the business and financial com.
munity of this city.
The company has been so well managed that
II is one OF the most successful corporations
in the city. The Journal has said IL before. and
it will say IL again. that the stock OF the New
Telephone Company is a good. safe investment
The Commercial Reporter said the support had
been withdrawn from the stock. This an
error In itself New Telephone stock has never
been supported The stock has climbed TO its
present price by reason OF the success OF the
ing orders in tho market to hold the stock up
to a certain price.
The decline in the price OF this stock this
week should be taken by no one as indl-
cation that the stock is not just good and
Just as safe investment when IL
bought In circumstances like the ones sur
rounding New Telephone stock at this time.
any stock no matter how good IL may be. In
subject to wider fuctuation than at other times.
In three days New Telephone advanced ten
points. This is a big advance In a market like
this one. and for the very reason that New
Telephone did advance ten points in three days.
IT was to be expected that the stock would
have somewhat OF a setback. In small mar
ket a stock must make it's advances slowly and
by small degrees IL the advance Is 10 be main
tanned. Tho organization OF the Indianapolis
Telephone Company created special demand
investors had to bid up the price When this
demand was satisfied IL was natural that the
stock should be little lower.
But perhaps the man who prepares the para
graphs on local stocks and bonds for the Com
mercai Reporter does not understand this:
perhaps he cannot snsiyzs tho movements OF q
stock. II this is the case his paragraphs should
not be taken seriously. and the reader should
peruse them with the knowledge that their
writer does not understand thoroughly what he
is writing. and with a sense OF curiosity
than for information.