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


and Price as bull leader; exports of $780,
900 in gold to Europe causes weakness in
stock market.
Third Week-Reduction of Bank of Eng
land discount rate from 4 per cent. 10 3R
per cent; gold exports of $4,000 600; declin-
ing stock market.
Fourth week-Heavy liquidation in mar
ket; bad break in Copper stocks.
JUNE.
First Week-One of the most e~ventful
weeks of the year; suspension of large Can
adam firms; unfav0rable government cotton
report; large destruction of property East
and West by fire and floods; exports of
$50 000 in gold.
Second Week-Advance of Imperial Bank
of Germany discount rate from Sa per cent.
to 4 per cent; increased trouble in labor
circles, causing strikes, blackmail, ETC.; gold
exports of 100000, making total of $4,000
900 to date; continued decline on prices.
Third Week-A trihe steadier tone to
stocks; a quiet week in Wall street.
Fourth Week-No news of Importance;
referred to as the dullest week in the year.
JULY.
First Week-Market more active; easier
rate in foreign exchange; cessation of gold
exports; some favorable railroad earnings
Second Week-Uneasiness first part of
week eliminates in sharp break In New
York Central; selling at lowest price In
$1,000, 900.
Third Week-Increased activity at ex-
penSe of values; lowest prices or year TO
date recorded in most issues.
Fourth We~ek-SuspensiOn of two large
Stock Exchange houses; exciting week with
lower prices; new low records made In all
active stocks.
AUGUST.
First Week-Feeling that the worst is over
for the time being, though the announce
ment of two large failures has cleared the
financial atmosphere; gradual improvements
in values; much needed rains in the South
west.
Second W~eek-Another wave of depression
sweeps over the security markets, caused in
part by two more failures on the Stock Elk
change; lowest prices of the year again
made; feeling of great unrest prevails.
Third Week-Extreme weakness first part
of week; seventy-seVen stocks made new
low records; gradual improvement latter
part of week, followed by buoyancy and
higher prices.
Fourth Week-Quieter tone prevails;
prices hold about the same as last week;
feeling that worst is over for the present.
Fifth Week-International yacht races
take interest from the market; prices quiet
and steady.
SEPTEMBER.
First Week-Secretary Shaw's announce
ment that he would TAX steps to avoid
money stringency had favorable effect;
sharp break in cotton prices, owing to bet
ter government crop reports than expected.
Second Week-Attack on United States
Steel shares, common breaking 20 points,
preferred breaking 20 points; balance of the
market quiet.
Third Week-Operations restricted by con-
tinuous reports of severe damage by frost
to the corn crops, and to wheat, owing to
floods, heavy rains, ETC.; trouble abroad be-
ginning to manifest itself, British consols
decline to lowest price made in years.
Fourth Week-A iquidating movement of
sufficient extent and persistence to recall
that which took place during August. been
in progress this week; new low records
made by United States Steel common at 16
and preferred at 60; increased labor trou-
bles.
First Week-The bear element attack
~high-grade securities with signal success,
Pennsylvania leading in the break, declin-
ing TO 115.
Second Week-Reduction of United States
Stell common quarterly dividend to one-half
of l per cent, making annual rate 2 per cent.
instead of 4 per cent; the stock market gen.
orally heavy.
Third Week-Break of 10 points in Colo
RADIO Fuel and Iron, caused by miners
strike; disclosures of United States Ship
building Company relative to modern fnan-
ciering, promoting, etc, character of which
has affected public confidence.
Fourth Week-Suspension of two large
trust companies in BALTIMORE; trouble also
in Pittsburg and Allegheny had depressing
effect first part of week; recovery in values
latter part of week.
Fifth Week-A better feeling with adj
vancing prices the first part of week,
checked by reports of a run ON two large St.
Louis trust companies; uneasiness again felt
with generally lower market.
NOVEMBER.
First Week-Quieter feeling during the
week; talk Of gold imports, and hopes that
Cuban reciprocity treaty would soon receive
favorable consideration from Congress.
Second Week-Market was lower and
weaker with heavy selling of steel shares
and Pennsylvania; lower prices for the year
recorded for both.
Third Week-More healthful tone to stock
market than for some time past; looked as
If steady Improvement in prices was under
way; further engagement of gold for i'm
port.
Fourth Notwithstanding raid steel and
iron stocks, forcing some liquidation; bet
attacks.
DECEMBER.
First Week-Japan and Russia trouble
increasing, Will only slight effect on rail
road stocks.
Second W~eek-Healthy reaction in stock
market causes better feeling and belief in
higher prices; great excitement In cottor
market and higher prices; favorable gov
eminent report on trade conditions.
Third Week-The usual period of mac.
tivity in Wall street, incident TO the holi-
day season and closing weeks of the year
felt: stocks steady and quiet; more gold
imports reported, making total of this
movement in the neighborhood of $25, 900,
600.
Fourth Week-Continued Improvement ir
stock values; $1,000, 600 engaged for i'm
port; greater activity than for any time in
present bull movement.