The Indianapolis journal., 1904-02-12
CHICAGO Stocks.
CBy A. r. Thompson & Co.'S Wire.
BROKERS VIEWS ON
THE STOCK MARKET
IA W Thomson.1

NEW YORK Feb u--London sent a slightly
lower range Of prices for Americans. but the
opening here steady with a fairly hrm
tone at prices which ruled last nights close.
What trading there was came from the floor.
the traders showing a disposition to up
contracts over the holiday. The market was
extremely dull during the entire session. II
was officially denied that the directors Of the
St Paul road have in contemplation any plan
whateyer calling for an Increased issue OF
stocks OF bonds the raising of any capital
except through earnings 1t was reported that
the Pennsylvania was negotiating for control
to pay 40 for the common and 80 for the pre-
ferred. Nothing official was given out 10 con-
Arm this statement. The banks have gained
since Friday, through currency movements
In the last hour the market hardened under
covering movement. The volume Of transactions
the e6ses but steady showing
oniy fractional changes from last nights close.
IA. r. Thompson & Col
NEW YORK. Feb. 1.-THE stock market to-
day was an ante-holiday affair. and the prin-
cipal transactions consisted Of evening up Of
contracts because OF the uncertainties OF the sit
uation. The street is getting universally blue.
and when such condition obtains IL Is usually
followed by a substantial rally in prices This
should occur II no further adverse features ap-
pear in the interim Professionalism controls the
market, and this, OF course. is conducive TO
rick
list unavailingy TO-DAY IA me saIiy trading.
and reports were scattered broadcast OF raids
10 occur on Pennsylvania and New York Cen
trail which we believe snouia be sota sharp on
rallies. We desire 10 call attention 10 the fact
that there are some specialties that may at
any time lead sharp raly.- lhey are Altons.
Rock Island Copper, OF southern Pacinc. which
a,,ery decline They should not be sold short
They are 70 be subjected 10 favorable features
when the general situation clears We would
49, the issues mentioned when driven down by
bear attack. The copper trade Is benefited by
the var Improvement is also occurring In iron.
II being announced to-day that rail orders were
placed by Herman lines We s have reasons 70
and forgotten by those who can pay for II. tbs
future will well reward such action. Speaking
gsnsratHb but in Tie% Of the twelve days de
cline would incline 70 the long side OF the mar
ket
NEW YORK Feb. u-Dullness dominated the
stock market during the greater part Of thu
trading to-day. and there the usual tone
that is supposed to precede a holiday. Profes-
sional traders made up all there
market and they showed no disposition 10 push
prices in either direction. The afternoon was
especially dull and the close was merely steady.
The morning session furnished two or three
kinds OF different markets. There was strong
spots and weak spots and spots that showed
no animation whatever. One of the old bear
leaders directed his attention 20 New York CEN
tral and some OF his satellites operated In Penn
sylvania Both these stocks were comparatively
weak for a time ard even on the rally from the
low prices showed particular amount cf gin
ger concerning New York Central
were enough 10 create wholesale selling In fhs
stock but these We're not accepted literally.
The rumOr that found greatest currency
the effect that New York central had arranged
20 borrow S22 500 900 on eighteen months notes
at 5 per cent. redeemahle at the option OF the
company after nine months ofiiciai connrna-
ton was forthcoming. Strong stocks to-
day were steel preferred and Amalgamated Cop-
per steel not quite iusty previous
days and the bear market Il likely send IL
tumbling Copper was well held Sugar nrnl
Peoples Gas We'll supported and tho rest OF the
industrial list relatively steady. Hooking VAL
ley had spectacular break without any specidc
ex2lnnation To account for H.