The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-09
BROKERS VIEWS ON
THE STOCK MARKET
Stocks showed Considerable Strength
Mt the Opening. but Movement
of Active List Was Narrow.
IA. w. Thomson.

A
NEW YORK, jan S-The market showed con-
siderable strength at the opening and was in
fuenced by a better feeling abroad and by evil
dence of good buying here. The movement of the
active list was confined to fluctuations
during the session, and the specialtes among
Mexican Central and Mexican National issues
had a sensational advance on the report that
price largely thereby benehting the railways
mentioned. The reported issues or Rock Island
BOMBS to sPeyer co 3b was sSe Say MT
Speyer & Co. that the announcement of
a sale of slO,OOO,OOO OF railroad bonds is pre-
ments for November, all Of which were good
The principal movements OF money TINS week
indicate the banks have gained since last Fri
day about s12. 000. 600. Amalgamated Copper was
active and showed sire nsth The buying was
considered very good. Western Union advanced
. points reports that there was deal on
between that company and the Postal; We look T.
market closed strong, having maintained its
advance OF the day.
Meyer & Kiser.I
NEW YORK, jan Stalking to-day's market
as a whole 1t was in a sense. a repetition of the
preceding days. For the greater part of the
day. however there was a good tone and in
the lighter trading positive strength evidenced
by prices substantially higher. AS preced-
ing days, the main topic of interest was the
possibility OF war between Russia and japan.
Although the published cables were just
belligerent as ever, there were other indications
that amicable agreement is possible. Eng
ties were materially stronger to-day. All news
from Russia mad Japan is censored and few
facts filter through. Professional traders
not disposed inaugurate active market
while or peace is in the balance, and for
that reason a dull market is a logical one.
Commission houses not doing very much bus
mess and the trading centers on the floor of
were recorded for anything of the principal
stocks to-day with the possible exception OF
on the listing of that stock in Berlin The Steel
stocks irregular. fairly nrm, but compare
lively inactive. Amalgamated Copper weak
in the early morning, but later developed
strength on relative good buying. Sugar in
active Mexican National preferred made a sub
stantial advance on what seemed 10 be manipu-
stocks also scored gains due principally TO the
scalping operations of professional traders The
really construction stocks were very strong. the
speculative house The traction stocks were
we'll maintained in the later trading and de-
New York Central Pennsylvania, st. Paul,
Atchison. Union Pacific. Missouri Pacific and
the like acted Well and developed strength be
fore the close. Money continued easy to-day and
sterling exchange weaker. The Louisville &
Nashville directors declared the regular dividend
and showed surplus earnings of about 81. 500, 0O0
GPorterheld & Col
NEW YORK. Jan. Slower grain cables and
higher cotton and stock prices abroad gave
the cue 10 this side early. The railway stocks
were the first TO feel the effect Of the bullish
news and the majority Of the stocks We're soon
spicuous was Southern Pacific. Good authori-
ties claim II Is absolutely certain that Southern
Pacific will go upon 4 per cent. dividend basis
at the next annual meeting. This Is also a bull
argument upon Union Pacific. which owns a
controlling interest in the Southern Pacific A
big effort made 10 break Copper in the
face OF the advance OF metal prices. After
selling down below As tire Standard oil brokers
bought freely and advance OF 81 followed
AS usual brooklyn Rapid Transit a fea-
ture, gaining over 81.