The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-22
Local Financial Gossip;
Bankers and Brokers' Talk

Announcement was made at the session OF
the Stock Exchange yesterday that the Della
ware and Madison Telephone Company will go
upon a per cent. dividend basis next month.
Two sales have been made this week at 45.
which has been the ask quotation the Stock
Exchange for some time. Up TO this week the
issue was dull for several weeks, no sales be
ing reported. The company operates telephone
systems in Delaware and Madison counties.
=
Belt Railroad common stock vas bid 10 at
the session on the exchange yesterday. This
is the record high price for this stock on the
exchange. One Of the Washington-street houses
I IS5s sale in the open market recently at
There has not been a sale of Columbia Ma
tional Bank stock since the first Of the year.
But the stock has been advancing steadily.
The stock was bid at 1l0ls yesterday on the
exchange. This is the record high price Tor the
issue
Merchants Heat and Light fves have been one
OF the most active bonds in the local market
during the last two weeks. The last sale re-
ported to the Stock Exchange was at 1928 and
interest. The largest single sale OF the issue
recently is that of block of $4,000 by E. NJ.
Campbell & Co. This firm does not have
ban H on a I9e 1 ,A dIe We're hoated by
p M CamnbeU a. "a The total authorized
issue is $500. 900. only $3.50, 900 have been put
out. 1t is not known when the remainder viii
be issued.
= :
The sale Of a block Of $1,000 Union Traction
ives is one of the largest bond sales of the
week. The block was transferred by a local
house to a banker outside OF indianapolis. The
sale made at s5A and interest. The ask
quotation on this bond was advanced to 81 from
so52 on the stock flxchanSe yesteTTgueS. SJILy
one Or two houses have any Of the Union Trac-
tiOn fVes IL is understood. The house which
made the $1,000 sale secured the block from
a country banker.
Brokers are predicting a good volume of
speculative trading in local securities with
lower money rates here. The year thus far has
been one of the most active in local stocks and
bonds since the organization of the stock Ex-
change. Money rates here are too high now
very profitable. but it is thought a oonsidera-
bic speculative demand will develop if money
in the local market will be lower if the eondi-
tions in New York continue easy.
A r. Thompson & Co.-The stock market yes
terday developed more activity than has been
seen any time this year. Advances were general
throughout the railroad and Industrial list with
manipulation being seen throughout all the
oW-priced specialties. There is not much TO be
said of the market, but in our opinion the public
has not in yet. But in the event Of
any sustained advance. they would probably
be found aTrayed on the bull side We believe
in taking profits on these bulges, as there will
6 g afe al fF9 6F TINS u TO time TO get BACK
T +
For the first time this year sales on the New
York Stock Exchange nearly 1000. 600 shares
yesterday. The biggest days sales previous to
yesterday amounted to something like ZOO O0O
But the average is much smaller than that fig
ure The easy money rates in Wall street and
the disappearance of the war cloud over Russia
and Japan have resulted in a large increase
in stock market operations. There is no ques-
ton but what the conditions in the stock mar
ket are improved However, II must not be
newed activity is due 20 pool manipulation and
not to legitimate outside interest in the market
There is a much larger amount of optimism in