The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-31
BROKERS VIEWS ON
THE STOCK MARKET
IA w Thomson


showed confident tone for Americans. The mar
ket here opened strong. with heavy volume of
trading, and maintained its strength up TO the
noon hour. st. Paul was the feature. scoring 2
point advance but most Of this was lost in the
last hour when a reaction set in. Ii was brought
about largely through profit taking. Atchison. on
large transactions scored an advance OF points,
but followed the others in losing part OF the
gains made in the forenoon. Interest centered
largely in the Pacific stocks but the Gould is
sues. as well as the trunk lines Joined In the
advances or from l TO points. III Is put naturdl
that after such pronounced strength as the mar
made on profit taking, but we believe that the
market will be influenced largely by the action
taken On the dividend on United states be
board. If full dividend is declared. we look for an
ADVANCE all through the line H. IN tne I'M mean an
vance in Union Pacific and other issues will pos
sibly halt in attempting TO swing the market ma is
board meeting in United States Steel.
Meyer & Kiserl
NEW YORK, March sO-Taking the days mar
ket whole 1t strong comparatively act
i've. and sentiment decidedly bulish. The
strength Of the market was largely reflection
of the continued advance of St. Paul That stock
was strong throughout the day. and its occa-
sonal sstbacks were not serious News develop
ments were not particularly illuminating, but the
belief still holds that ST. Paul stock is benefitng
by the accumulation of Union Pacific stock by
interests closely identified with st. Paul affairs.
tween representatives of Union Pacific. st. Paul
harmony between the three companies. Daily
conferences are going on between representatives
Of the Hartman; kuhn-Loeo National CITY
the best plan for protecting their position and
enforcing their demands in the Northern Securi-
ties matter There seer,s TO be chance of an
agreement the plan already promulgated We
hear from an Influential source that there is a
strong probability of some deal being brought
out by the Hartman interests, and IL is possible
that Atchison may be involved. There have been
but we cannot discuss them in detail yet IN
doubtedly the most active stock to-day was
Union Pacific, but that security scored sub
stantial decline for the days operations. II was
actually weak at times; but the offerings were
pathetically. Atchison was active and very
strong giving emphasis to the rumor that there
some development pending In that stock. Mis-
souri, Pacific was another very active stock, and
it was very strong. The Steel stocks held well
can Sugar, was notably strong also. London
bought about 200 shares on balance. and the
There was some good buying of Pennsylvania,
but it suffered a setback in the afternoon trad
the eect that the full Dividend will be paid on
Steel preferred, we predict with the utmost posi-
This is the view taken by the finance commit
prevail with the entire board. Time money is
quiet Sterling exchange is strong.
IPorterfeld & Col
NEW YORK March 3o-Seocks opened steady,
influence
and general better feeling abroad in all de-
partments Union Pacific. on large transactions.
sold at 81 on the opening but there was profit
taking on the bulge. and il failed to hold the
early advance. st. Paul, after opening at 142A.
sold up sharply to 1865. Pennsylvania sold up TO
Sugar was very strong. In fact the latter two
appeared to be the mainstay of the entire mar
ency after the first bulge After the noon hour
the center Of interest was manifest in the in
railroads were neglected and sagged. In the final
trading there was a rally from the low, which.
o Bne fhe Close was rsheS and
would not be surprised to see lower range Of
prices in the morning G r st ths great f ad
more points would not be out of proportion. On
recessions would buy stocks. especially Atchison.
IA. r. Thompson & Col
NEW YORK, March 30-Closing with a strong
undertone to-day. the stock market. which
subjected to bullish operations all day, promises
to advance further tomorrow along speciality
lines. with irregularity. There a
broader market to-day and a larger outside in
terest in it. judging from our various reports
The short interest in number of stocks. in
Guiding Pennsylvania is becoming very much
worried. Were it rot for the policy noted on
tendency to wildness. the bears in United States
Steel preferred and Pennsylvania might have to
Paa unon Paee ana afehaon hss no a
ceased, and recommend their purchase upon any
reaction There is something big doing in St
Paul. according to insiders There was bull
talk on Erie late in the afternoon. The special
lists started the movement in Sugar to-day and
believe II will advance considerably higher
There excellent buying in Missouri Pacific
by the Gouds, and we expect to that stock
cross par in the near future. The truth of the
statement made by several conservative houses
that there was marked Increase in outside
interest was proved by the facility with which
the market on the Consolidated Exchange alb
sorbed large blocks Of stocks We understand
| that of the large banks have millions
dollars of unloanable funds in their vau.ts
They are considering a reduction in interest
rates on deposits left with them by interior in
situations. We refer to this demonstrating
the great ease in the money market Ii proves
that absolutely no apprehension may be felt
over gold exports. which are imminent. This
plethora OF money is forcing investment in
high grade securities, and such condition
cannot avoid operating for enhancement of
security values There is likely TO be any
disturbance in the money market over the paw
! ment of s22.000.GO April dividend disburse-
ments. The street is told to watch for a sharp
upward movement in Copper any time. If
the stock enters new territory by crossing 81 we
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