The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-11
Chicago Stocks.
!. Thompson & Co.'S wire.I
BROKERS VIEWS ON
THE STOCK MARKET
IA. ". Thomson


NEW YORK. March l0-This has been a
record breaking day for dull business There
was TO interest shown in any quarter Of the
market The fluctuations among the usual active
issues were less than y per cent. There was
absolutely TO business done for foreign account
One Of the news agencies reported that state
ment had been given to them from President
Cassatt, OF the Pennsylvania, in which he
stated that the company has ample means for
the tunnel work in New York in the next fifteen
months including all the real estate yet to
be purchased and a large margin for unfore-
seen contingencies. There were rumors Of a
ficiais say that relations between the company
and the men are friendly and they do not an
ticipate any strike.
Meyer & KiserI
NEW YORK. March 10-Although former
figures are not available at the moment. it is
perfectly safe to assume that low record for
trading in the stock market was established to-
day Absolute stagnation prevailed and the
market was merely a nominal affair There was
not the slightest semblance of activity, and a
number of stocks were not quoted at all. The
professional traders could not scalp profit,
the market being narrow, and they abandoned
the effort to keep the market going very early
in the game. 1t is difficult to explain how the
market has fallen into such rut, and the
cannot be easily calculated. The uncertainty
concerning the Northern Securities decision is
n
in to-day were Pennsylvania. Steel preferred.
Amalgamated Copper and BROOKLYN kapid Tran ran
traded I'm to a larger extent than the other
stocks. Steel preferred very strong at the
opening account of the favorable reports of
the outlook given in the Iron Age While the
firm Peoples Gas was sold down fractionaIly.
and seemed TO be the object OF some bear
trading Northern Securities weak the
curb. Money was unchanged
IPorterfeld & Col
NEW YORK March 1o.-For dullness the
stock market to-day a record breaker. Up
to noon IS 900 shares only recorded and orders
were indeed at a premium. There is evidently
an entire lack of public interest. and IL it keeps
up much longer the exchange had better close
down for a time order to the commission
houses their wire rentals and expenses. What
market there was early was strong. but after
the noon hour a declining tendency developed
and stocks sold off fractionally but without any
significance whatever. To illustrate the absolute
UP to noon there were at least fifty stocks with
out a quotation for the day: Cannot express
much opinion on such market excepting We
would certainly not advise selling 1t.
IA. r. Thompson & Col
NEW YORK, March 1o-Stock market move
ments to-day were confined to narrow limits.
The mountaineering of the merger decision dis
persed Inertia the entire financial district.
Nobody seemed to be inclined to do anything
the lead. Bullishness predominates. but II is not
yet of the active kind although IL Is likely, in
our opinion TO spring into activity at any mo-
ment. Room traders bullishly inclined and
ready TO advance their assistance to any i'm
provement The sales broke the record to-day
and the dullness, at times, was intense the
Exchange. The long side of Brooklyn Rapid
Transit, regarding which the bears sent around
strike rumors of little import to-day, is favored
by the floor crowd. 1t Is estimated that the
short interest in Pennsylvania is from 5000 10
100. 600 shares. No liquidation of any moment oc-
CURED to-day and none is in sight. The market
is plainly oversold. particularly in United
States Steel preferred, which should be bought
on the reported iron Improvement in the Iron
Age to-day. which confirms information sub
mitted some days ago. There was reported a
demand for good bonds Better reports came to
hand from the wheat belt and the soft coal ne
gotiations. Some large railroads ready &c
place further rail orders, il is said, and this
iron trade betterment cannot fail 10 be reflected
in other trades. We confident that those who
buy and hold Union Pacific. American Sugar
Missouri Pacific Baltimore & Ohio will get
good returns not only from the dividends paid
but from a speculative point OF view. They are
all sold out. There supporting orders liz
| Rock Island, according TO our Information.