The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-24
Local Financial Gossip;
Bankers and Brokers' Talk

continued improvement in the stock market next
wees We would advise. however caution in
buges Considering all things the market was
strong Yesterday. There was great deal of
ment made another stand on the bank state
ment being regarded less favorable than had
been expected but the recessions were only frac-
tional, and the market recovered sharply.
wall street is convinced that John w
Gates has been relieved as manager of a bull
pool which is made up Of the strongest ananciers
in the street" says Harden. the Wall-street cor
respondent. The advance in stocks demon
strates that prominent banking houses favor
higher market values. number of bankers
OF prominence who have been doing very little
in tho market of late bought heavily. They ex-
pressed the opinion that the market would
gradually work higher. Public buying was more
pronounced than yesterday. Still the volume of
Exchange within the last week or two would
hardly " arr the sta'e h that public in
From statistics compiled in the sugar trade for
the calendar year just closed experts are able to
arrivce at an approximate estimate Of the an
nual earnings of the American Sugar Refining
Company. The sugar trust sold S06S 464 COO
pounds of sugar during 1903 President Have
meyer gave a basis on which to work when he
said the average price for the year on refined
sugar was 4.55c a pound. The gross earnings
would. therefore. be s29. 155. 4OS Those whose
business il is to tabuIate sugar Statistics " rs
tho average difference between raw and reGnat
sugar curing the year .ylSc a pound ON
sworn testimony IL has been stated by sugar
trust officials That 62ac per pound represents the
cost u refining ana operating expenses. The
ret profit would. therefore be .29sc pound.
Net profits on the whole output Of the trust
would therefore be sS,S90.6O0. After paying pre-
esp Haq RsbnE IS that the amer
common stock about IL per cent.
That the business year of 1904 will not be one
of disaster. but Of satisfactory trade. along
conservative lines, is predicted by trained oh
servers. The many trials of the Industrial and
financial communities recited as evidences of
the strain that has been placed upon business
generally but il is held that careful action has
prevented serious calamity. and the business
barometer has begun TO rise. Some important
lines. particularly cotton goods. are unsettled
The producers ability 10 take lower prices Isl
of course predicated upon the acceptance of de-
creased WAGES by employees. Expenditures for
engineering enterprises. while helpful to- De.
mand. may restrict supplies of money for ordi-
nary business. The presidential campaign NAV
years. 4 OF financial disquiet IN,
strength OF the agricultural interest makes for
industry Building operations bear Better oa sn
pearance.-Ronds and Mortgages.
=
The most encouraging feature OF the stee
| industry" says the New York Journal OF Com
merce. lis the disposition shown by Western
railroads place large contracts for bridges ane
! other improvements calling for the employmen
/ OF fabricated steel During the last week on,
/ OF the largest Western railroad companies caiee
/ for bids for few railway girder bridges an,
immediately gave orders for the preparation q
| plans which had been held in abeysnce havin:
| for structural steel. There is also a better De
and in The Eastern section Of the country 10
Rrjr companx during the last wee k anlre,oa
Ing between 10000 and Is. 900 tons.