The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-01

general business situation Of the country as a
whole. the only weak point is In Wall stree;
fairly stable conditions for some months YET
We think you will see from 10 10 points "a
the up side Of our active railroad issues anu
possibly more. The hard coalers have peeh
somewhat depressed the past few days on ~
count or the recent Erie and Reading monthiy
reports. but, as these exhibitions Of ngures 40
not represent anything but the teennie3i S StI
later on. There will be plenty Of money ior sPec-
ulation next month. and we can expect greater
activity than for some period.
IA. r. Thompson & Col
NEW YORK. Dec. denomination OF the
strong undertone shown yesterday in the face OF
realizing and the bear attack is to be reported
In the stock market to-day, with the addition
that speciality advances were prominent. includ-
ing Amalgamated Copper. TO which we directed
particular attention yesterday. There was a de-
termination on the part Of the professional ele-
ment TO have a strong market during the last
session OF the old year, and they were success
ful. being not opposed by the large interests
vas Welt taken prices were BID Up upon com
paratiye scarcity and an oversold condition.; The
Dig gain from the interior by banks. ADDED 10
the gain from the subtreasury. amounting IN al
20 between S.0O0,000 and s~4,O00,0O0, means that
provided the end-of-the-year settlements do not
increase the loan account so as 10 prevent an ~
crease IN surplus While call money was a niue
tight to-day, little attention was paid 10 II, Tor
presents no inherently weak feature: we strong
" recommend that good stocks be bought when
ever weak. for, while the outlook indicates some
irTegularity for a time, fundamental conditions
Will not permit a serious decline, and turns can
be made or the bull side in Southern Paclnc,
Union Pacific. AtchisOn, ST. Paul, Missouri Pa
cihc and Sugar, not forgetting Brooklyn RAPID
Transit.
[Porterheld & Col
NEW YORK, Dec. 31.-Although the transac-
lions were rather spasmodic in the stock market
to-day, the day was more or less given over TO
the usual New Year holiday features. Still the
market, from start to finish, showed great
strength. and the year ends like its predecessors
with prices well up. If the same precedent holds
good the new year will be ushered in with higher
prices, greater volume Of trading and a bull
market, which may continue for some time. In
1901 the January boom lasted six months. 1907
saw IL carried up we'll into the following sum-
mer. while In 1853, for reasons that are familiar
to readers Of our letters, the upward trend Gull
minated about Jan 10. This year, considering
the large disbursements in dividends, the SPLEEN
did conditions Of the banks and our foreign
credit and the fact that the drastic realizing Of
the past year has spent its force, We should have
a prOtracted upward movement. Just before the
close We hear Union Pacific has purchased loo, coo
shares of AtcbisOn common. This means a new
combination. and both stocks responded. In the
others Missouri Pacific recovered some of its
dividend. Its November earnings were nearly a
quarter OF a million net Increase. Copper, Steel
and Brooklyn Rapid Transit were all strong, and
glance at the entire list shows encouraging i'm
We believe the new year %pOTtends
a good, substantial speculative market. Our adj
vice is TO buy.