The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-22
BROKERS VIEWS ON
THE STOCK MARKET
Ia. w. Thomson.1

NEW YORK. April 21.-The injunction
issued by Judge Kirkpatrick on behalf of
the Hartman interest enjoining the North
ern Securities Company from carrying out
its pro rata plan of distribution, came rather
as a surprise, though this action fore
Swallowed by utterances by counsel for
Messrs. Hartman and Pierce after meeting
with defeat in the United States Circuit
Court at st. Paul The stockholders meet
ing was held to-day and the Hill plan was
approved. but the injunction acts as stay
in the carrying out of the plan. pending the
hearing before Judge Fitzpatrick April Is.
The market opened strong and was some
what Influenced by the reduction of the
Bank of England rate to per cent
basis. The opening strength was fairly
we'll maintained during the day. Union
Pacific led in point of activity. The set
Element by the Western traffic officials OF
the grain-rate war; paved the way for all
the roads TO show increased earnings. Della
ware & Hudson scored "a substantial ad-
vance on what was thought to be pur-
chases for investment. This railroad occu-
in the United States which is buying up
and retiring it's own stock. The advance
in United States Rubber was on reports
that a meeting Of directors was being held
this afternoon and a dividend would be
declared the preferred. The last oivi-
dend was paid in January, 1901. The mar
ket was strong at the close, the fractions
being the feature on covering OF shorts.
Meyer & Kiser.l
NEW YORK. April 21-Strength and in
activity were the two main characteristics
of the market to-day. The tone of the mar
ket good. and there were news de-
velopements of any Importance tending to
neutralize the incipient strength developed
in the forenoon. The fluctuations through
out the afternoon were scarcely worth
recording, and the market was accord
ingly very nervous. The Hill Morgan plan
for the distribution of the Northern Secur-
tiles assets was approved to-day by the
stockholders. The complaint I'm the Harri-
man suit however, was made public Moth
ing can be done by the Northern Securities
Company toward carrying out the plan
adopted until fifteen days have elapsed. and
in the mainline argument will be heard in
the Federal Court on the Hartman petit
ton to restrain the distribution of assets
as proposed by the plans. The regular
dividend on Amalgamated Copper was de-
clared to-day, which settles the rumors of
an increase in it's dividend. Undoubtedly
the hard coal stocks were the strongest
on the list to-day. Delaware & Hudson
was the leader in that quarter. and there
Ilents that would favorably affect all tie
coal stocks st. Paul was strong through
out, and the buying of Atchisol was nota-
bly, good. The Rock Island stocks were
lively good United States Rubber prefer
Ie0 scored a substantial advance and
United States Realty preferred gained fully
two points comparatively few trans
actions. The industrial list generally was
stupid. London houses were bulish on
Reading. The strength of Rubber at
tributed to the prospective declaration of a
2 per cent. dividend on the preferred stock.
Consolidated Gas held relatively well, al
though the fluctuations were comparatively
wide. Call money loaned to-day at ! per
cent.
IA. r. Thompson & Col
NEW YORK, April 21-Aside from the
movement inaugurated this morning by a
number of traders who bid prices up and
induced some short covering. there was not
much feature to the market. There was
not much pressure 10 sell on the rally,
owing to the belief that it could be carried
somewhat further. On the other hand no
very great disposition was shown To
acquire stocks after the covering move
meut had exhausted itself, and a rather
apathetic period ensued which lasted up
! to the close. except for few sporadic
bursts of activity The sentiment of the
floor is not decided. traders inclining to the
belief that the market will be narrow for
| the present, with a sagging tendency