The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-20
Chfcago Stocks.
Rv A R. rbompson & Co.'S wire.l
BROKERS VIEWS ON
THE STOCK MARKET
TMeyer & Kiser1.

NEW YORK. March 1s.-Strength character
ized the market throughout the entire trading
session to-day and the best prices were recorded
toward the close. The entire market showed
a strong and even buoyant tone. There were
no periods of heaviness. although at times the
market drifted into dizziness. The undertone
was good throughout and the buying in ma
jority of the stocks seemed to be excellent
Among the active stocks to-day Pennsylvania
showed the heaviest trading. and it un-
deniably strong at all times, averaging at least
point above the opening figures. The Sully
failure seemed to have effect, although 1t was
believed that there was some covering of shorts
stock market operations. London, after a
temporary hesitancy, bought stocks in this mar
in the market at the present time, there is a
steady covering of shorts and these two fac
is unsafe TO predict that the present bull cam
paign will be carried on indefinitely There are
be said that the real powers that be not
bullish The bank statement was not so good
in reserve amounting to ST. 3Ss,O75. and an in
crease in loans of s1.519S0 Contrary TO the
cash of about 81. 700. 900. The estimates yes
terday indicated gain of about that much
ty was III evidence. Consistent strength was
displayed throughout the first hour and certain
Certain brokers were very active in Pennsyi-
vania and Baltimore Ohio. When London
began trade IL bought steel preferred. Ere
and Reading A movement In Clover Leaf was
| looked upon as being Intended for sentimental
effects, in view of the reputed alliance Of one
of the interested in that stock with Sully.
| Bull talk Atohisoh was heard and tips on
| notably strong, but none of the buying
| could be traced the interests identified with
| under the leadership of Metropolitan. which
scored sharp advance. Union Pacific was
strong and vas neither
| HANGED nor diminished by the bank statement
LPorterield & Col
NEW YORK, March 19-The week ends in
| a blaze of glory for the bulls. with the senti-
| ment tonight about buoyant it was de-
spondent last Saturday. The opening was steady
and fractionaly to y point over previous
| close A good commission house demand for
stocks sprung up early in the session and offer
ings were few. necessitatng higher bids for
\ the purchases of all securities. Only for a
| moment there lull in the upward trend.
| and breaks were very slight in everything. The
/ bank statement was rather Disappointing az
| fair. but this was ignored and the last hour
| timore & Ohio. Atchison Southern Pacific,
| Union Pacific: Sugar. Steel Copper. Metropoli,
| at enhancing values. and continued right ur
/ to the tap of the gong without interruption
week. and shows many new high marks for
| quite a majority of the list in the past sixty
Win occasional reactions when should be taken
advantage of to purchase the standards of both
| kinds on.
| Ia. r. Thompson Col
] NEW YORK, March TO- - Exemplifyins
| strength of the stock market, il is pleasureabls
| 10 refer to-day to the steadness of prices under
| the impact of the Sully Suspension and subse
| auent aggressiveness short covering, not
| withstanding the publication of unfavorabl'
| bank statement. This denonstra ties that the shor
! interest is still large and disposed TO take ad
| vantage of every opportunity to retreat. The eut
| look for next week favors a continuance of th'
| covering movement and subsequent improv ement
| particularly along specially lines, and we recon
| mend that our friends govern themselves &C
| cordirgly the Suy failure has, like the North
| ern Securities resulted in a Detterment o.
] conditions IL has reduced the commodity specu
/ lative craze 10 normal. showing that the mar
| kets were top heavy. This will also induce com
| modify traders turn 10 stocks, which arr
/ the financial world by the liquidation OF Sull,
| commitments. brings another benefit. Thus VI
| have further clearing Of the financial skies, an,
| the arraving of the large interests strongly OF
| the constructive side Of the market The banl
| statement to-day is not a factor. although rattle
/ unfavorable. and not clearly expainable Tn
4 tact that the surplus still remains several time
| a. large as il was at this time last year shoul,
| rea sstlre those who look askance at the decreas
| raported to-day. The money market Is feature
| less and easy. The rates still show heavines
| and are not likely get strong. We believe tina
| NEXT week will witness only domestic bu
foreign investment in securities in the New Yorl
stock and bond market. We would. however
take fair returns on the long side fuyther ad
1 vances and replace same az any recessions OF
| point or two