The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-30
Chicago Stocks.
BROKERS VIEWS ON
THE STOCK MARKET
IA " Thomson I

lower on disapPoin-<g statement of the Febru-
airy earnings. IS very little selling pressure de-
veloped the market gradually hardened and at
the end of the first hour considerable activity
became apparent in the list. Amalgamated acted
disappointIngly IN view OF the strong statistlcai
position OF the raw material. United states steel
preferred declined on liquidation from a Pitts
burg source. The sole feature of the afternoon
market was the continued strength of Union Pa
ciic. The advance was accompanied by large
transactions and the same kind or buying winch
there rumors that interests identified with
st. Paul were the principal buyers OF Union IA
strength of Southern Pacific and st. Paul. The
close was strong.
Meyer & Kiserl
NEW YORK. March 2s.-Until the closing hour
there practically only feature TO the
stock market to-day. and that Union Pa
cific. There nothing of particular interest in
the rest of the market, and the rally in the
ing half hour induced by the continued
strength and aggressive upward movement of
Union Pacific. The buying of the stock continues
10 be very much of mystery While there are
leaders in the buying. apparently. who are &C
has been large trailing element OF traders
who are ready TO jump at moments notice
going the rounds concerning Union PACING The
Standard Oil interests deny that they are buy
ing this stock, and the Hartman interests are
equally strong in denying the soft impeachment.
Union Pacific easily TIE leader Of the mar
impressive. No setbacks allowed and there
seemed to be powerful force behind it. Relative
Northern
ture to predict that unless the Hill-Morgan in
terests concede the demands of the Hartman
ant ia ba immsdiste ftnre MIN The @
rsetors from putting the promulgated plan into
asked for, and an effort will be made either to
secure the return Of the original stock deposited
at public vendue. This is the situation and the
individual who deduce harmony from il is
wonder We DO not assume the prophets robe;
national convention is likely 20 give the financial
district great deal ,S oil w1rry NeW York Is
it undertakes and ridicules his strength. That
is foolish. and the indications that
Hearst will either be nominated or dictate the
nomination of the candidate through control of
Hearst scare in the financial district. Should
sane Democrat, on the other hand. be nominated.
fashioned bull market will develop So. instead
OF being afraid OF the ides of March the ides OF
strong to-day in sympathy with Union Pacific.
but it did not advance sharply the
row. professional and. for the most part. dull.
The sustaining influence of Union Pacific held the
rit Of sSe st sne ma
lower than yesterdays closing. The last half
closed strong Bull tips Atchison were in evil
dence all day. but the stock showed a decline.
the affairs of the company are Imminent Time
money was dull. Sterling exchange strong
IA. r. Thompson & Col
NEW YORK, March 29.-Further indications
came TO hand to-day that the large interests
were accommodating stocks. This was especially
noted with regard to Union Pacific and Southern
Pacific. The market very strong in the
morning. but later raided down. United
States Steel was subjected to considerable pres
sure and support apparently withdrawn
from the stock in order to unsettle the remainder
OF the list. OF course, this facilitated buying Of
meantime Just prior to the afternoon resump-
| ton of the advance in Union Pacific, the floor
| turned bearish and the street was somewhat in
covering resulted when the Hartman stocks
shot up under enormous buying by Western in
| terests. as well as alleged Standard Oil pur-
chases. II was noted that United States Steel
preferred was bought up on scale down by in
| The firmness Of the fractions favorabIy
| commented upon. and we believe that they were
we'll bought We think It will be well to have
lines in almost all the granger stocks until this
mored TO have been effected this afternoon) shall
have been finally contaminated. Predictions were
touch ITO soon. The Gates crowd is predicting
5-point advance In Atchison. We note that
Berlin was again a purchaser of Baltimore &
| and we are still bullish on IL. Our advices from
eigners Were very buish on Union Pacific They
| have bought considerable of that stock within
afternoon from Pittsburg quoting an authority
as saying that Pittsburg is not selling Steel
clined to buy the bonds we note a very good
| borrowing demand for stocks in the loan depart
| ment this afternoon and II is probable that the
floor is still short of the market. particularly
| United States Steel preferred General sentiment
| in the street this afternoon seems to be some
| what mixed. but we find strong undercurrent OF
bullish feeling.
| IPorterfeld & Col
| NEW YORK, March 29.-There was a peculiar
stock market early 1t looked at one time as
though all the ''tipsters'' were correct in their
| predictions of a higher market. and then again
| 1t appeared though they were "on the troll
ley" Copper was touted for all ii worth and
| started out and went over 90 but something hit
| IL and IL sold off "a of a point. Steel pre-
| ferred was also weak. The heaviest buyers of the
| past week lapsed into dizziness until Union Pa
cific started on the upward tack more. This
| hardened the entire list, and while the whole
| IL was comparatively quiet market. except in
| Union Pacific. Southern Pacific and a few 9th
| ers. the market seems TO lack any bear leade,
! with ter1erity enough to attack the list The 70.
| ports that amicabe arrangement fas beer
| made between the Hill-Harriman folks and Tho
| action of Union Pacific certainly indicates IL II
| this should he officially announced Union Paci6e
| and its tributary lines would be benefited very
! extensively Southern Pacific was strong all dav
but does not exhibit the strength expected W,
| still incline towards the hull side. with the uslIa
| shake-outs. Would buy stocks all recessio1s
| Closing prices at the best Of the day IN,
most OF the stocks with Union Pacific about &
share higher. and the rest from y to / point
exiO1 clo