The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-06
BROKERS VIEWS ON
THE STOCK MARKET

NEW YORK March 5.-The market opened
with slightly increased activity and heavy
tone Room traders were inclined to take the
short side Sunday preparing TO cover
any decline Monday should the Northern Securi-
ties decision be announced unfavorable that day.
The traders sold off easily, and further attack
on Corn Products was made upon report that
the earnings aside from the dividend on the
preferred stocks: would be used as working
ca pital until business becomes better. Attempts
long stock was met The soft-coaI positions
still tend TO check any outside following the
long side in the soft eoalers. Market ruled
narrow and dull most OF the morning; Vague
rumors were present of European trouble both
financial and political. The close was feature
less.
NEW YORK March 5.-Therc has been re-
dictionary tendency very much in evidence in
the stock market to-day and the tone is weak
and nervous There has been selling in unex-
pected quarters of the market. and the prob
ability of the Northern Securities decision being
handed down on Monday is causing traders a
great deal of uneasineSs. Those who are tempted
to make commitments on the long side of the
to-day to reduce to a minimum their holdings
of stock because of Mondays uncertainty There
will come on Monday, and it is almost a Ger
tainty that it will be adverse The bank state
the active stocks in to-day's market were Penn
sylvana, steel preferred; Brooklyn Rapid Tran
sugar. consolidated a
these stocks showed declines steel preferred
broke easily and Brooklyn Transit was notably
weak Pennsy yania was. perhaps. the most ac-
Securities was weak on the curb. and this
had bad influence on the general stock market
There no news Of any Importance.
IA. r. Thompson G. Col
NEW YORK. March 5-There was unsettling
news punched together to-day. and. under an
organized raid by the floor traders. the market
sagged down. Selling almost entirely pro-
fessional, and we believe that in the event OF
an extension OF the reaction standard stocks
will a purchase for The possibility
handed down on Monday. the rumors teXagger-
ated) OF Paris trouble and the unfavorable bank
statement all combined make the timid let
go a few stocks and this stimulated the courage
Of the bears Washington advces say that
there will be no decision on Monday.
Later cables were more assuring the for
eign situation, which the market Is ignoring
more or less.
The bank statement is not a factor II is In
respect favorable. because Of the further
widening OF the break between deposits and
Indifferent. for that item is now three times
larger than at the same time last year. We
TO an active. improving market. especially II
the Northern Securities decision should
be removed. Reviewing the events in the world
Of finance. strongly OF the belief that
the endeavors made during the week 20 break
away from the foreign situation have borne
fruit. and there was "A disposition 10 think the
demand for bonds Ihis should extend 20
the stock market. because of the prospects OF
continued ease I'm rates for money. We also
find an increased inquiry from the outside ele-
ment in regard TO what stocks cheap. In
this connection we believe that Union PACING.
which has been bought for investment is very
RrookIyn Rapid Transit. Amaieamated Copper
and United states Steel preferred Missouri