The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-09
Chicago Stocks.
BROKERS VIEWS ON
THE STOCK MARKET
La. w. Thomson.l

NEW YORK, Feb. S.-The appalling calamity
which overwhelmed the city Of Baltimore in a
disastrous effect, was looked upon far-reach-
ing in its effect upon insurance companies and
influenced heavy selling at the opening Of the
market to-day. The news also was most dis
couraging The foreign markets weak
under heavy selling for the continent and Lon
DON sold heavily here. amounting to $1,000
shares This selling caused weakness through
ont the general list at the opening here There
was fairly good support given, more especially
on United States Steels. which remained strong
throughout the session. After noon hour selling
pressure continued under considerable Iquida-
ton. but at no time during the session was the
market at all panicky. In the last hour the
market showed a distinct tendency TO rally and
some CT the earlier losses were recovered. The
market continued feverish and unsettled until
the close. -,
NEW YORK FEB. S-A score of adverse in
huence did their work in the stock market to-
day. and severe declines in a majority Of the
stocks in the list were the natural results
Primarily the news from the far East was dis
ouieting factor. If has not been begun il
g only a question of a very short time until
actual hostilities will take place. The London
securities market was practically demoralized
th,s morning. with Paris and Berlin heavy sell
ers American securities siumped badiy In tnat
were warlike and disquieting The serious dan,
ger does not lie IN sne ra The ma fact tbst b Sna
Conflict may prove torch TO set all Europe
ablaze scaIeeig ,r .ss n tdnFs from RaltimoTe
where wreck and ruin was wrought by flames
1t is not known yet wnat tne h Gage VII De-
The fire insurance companies have been hit
e epe to $50 600 Naturally they will have
to sell some OF their choice securities 10 make
s M final adjustment is made. Added to these
denressing influences was the fact that practical
6deepmoraization ruled in the cotton market The
war news the grain market broke sharply. Par
ticularly weak stocks today were Baltimore &c
Union Pacific. Brooklyn Rapid Transit Missouri
9acific Canadian Pacific, Consolidated Gas. Gen
.raI Electric Amalgamated Copper and Sugar
All these stocks made heavy breaks. Pennsyl-
yania was notably weak The Baltimore FIRE.
strange as il may seem, was one cause OF tho
better feeling in these quarters Steel must be
used to rebuild the city and the construction
company Will do great deal OF the building
undoubtedly. The opening market was weak
from rS the London prices A slightly better tone
developed and some appearance OF steadiness
son Tho weakness was most insistent in the
afternoon session There was a rally in the
last hour. but selling developed quickly and
prices broke again. Texas and Pacific directors
passed the interest on the second INCOME bonds.
changed for new St Louis.
IPorterfeld & Col
NEW YORK, Feb. s.-With war virtually de-
clared and the awful fire loss at Baltimore the
market naturally broke quickly this morning
Cables were off with PENNSYLVANIA 81 a share
lower. Considering the combination of adverse
circumstances the market acted remarkably
well. and a glance along the roster showed
losses of only 81 less from Saturdays clos
and in many instances hardly that much OF
course, special stocks were more affected than
the general list and are not counted in this
average Baltimore a. Ohio. which suffers great
losses in Baltimore. broke some s. a share The
absence Of decentralization is encouraging and
naturally will be looked upon with admiration
by foreigners and induce investment. Baltimore
e. Ohio will Immediately rebuild. This means
great activity in the building line and Unitei
States Steel will sell millions Of tons Of struc-
tural iron and steel Those who have held their
stocks have undoubtedly the worst and
price