The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-14
BROKERS VIEWS ON
THE STOCK MARKET
IA. ". Thomson ]

A W. thomson
NEW YORK April lathe action taken by
Attorney General Knox in the Hartman suit
which was argued at St Paul to-day. was gen
orally looked upon as unfavorable to the Union
Pacific interests The market a whole was
a very tame affair. Interest centered largely
in Union Pacific. where a decline of Ia points
was made in the forenoon session. subsequently
recovering a point. The movement OF this was
due to sentiment part of traders who believed
the stand taken by Mr.. Hartman would not
be upheld. London market without feature
and quotations for American securities were I'M
changed. Half a million gold engaged for
export on Thursdays steamer. The failure of
the United States Steel Company to exercise its
option on IS 900 tons Of pig iron was unfavc-ably
commented upon. contradicting in part the
recent reports of Improvement in the steel trade
and indicates that the United States Steel
Company's own furnaces are now producing all
the iron required for its needs After the noon
were inclined TO await the decision I'm the Hill
Hartman suit at St. Paul. The pressure to
lacking in the movement to-day. The mar
ket closed quiet and steady
Meyer & Kiser.l
NEW YORK, Arpil l3-Trading in the mar
ket to-day was marked by irregularty and un-
certainty and the fluctuations of stocks were
inconsequently cratic. There de-
velopments of Importance and traders not
disposed TO take sides the market until
decision had been handed down by the Circuit
Court i'm the Hartman suit, pending. The
court will hand down its decision to-morrow.
and then the speculative element Will have a
chance to decide what it thinks of it. AS
matter of fact this decision is only minor
another form even if Messrs. Hartman al.
lose Banking interests feel favorable towards
STANDARD N Oil interests told us today that he
considered the market essentially healthy. and
he saw absolutely nothing in the situation that
could beget pessimism. He said that this mar
ket ought to do better. but he expects no boom
sudden upward turn. The betterment in his
estimation will be slow. but nevertheless sure.
He points out very wisely that the unexpected
cannot be reckoned with, and predictions can be
based only known facts. He ventured the
prediction further that call rates will steady In
a month less. Among the active stocks to-
day Union Pachce took the lead. 1t opened up
with some steadiness. advanced fractionally and
then SoId OF sharply IeganeS pa OF r s
ing the greater part of the day. PENNSYLVANIA
lost on an early recession and rallied subse-
quently. The predicted boom in Brooklyn Rapid
Transit did not materialize. That stock was
under pressure times. but showed some sup
port. Atchison relatively steady and Anal
gamated Copper held its own very we'll The
Island issues showed little animation. but they
continued steady. Steel preferred was relatively
active but the trading confined to frac-
tional fluctuations During part of the time
the market extremely quiet. Time money
unchanged.
IPorterfeld G. Col
NEW YORK. April 1s.-The opening on stocks
was ragged and unsettled. The majority OF the
traders apparently awaiting the outcome
of the Northern Securities at st. Paul and
hesitated to commit themselves either way.
Shortly after the opening a further selling move
ment set in and in most cases breaks of y to
point followed. After the noon hour shorts COW
cred freely in the Pacifcs and by the closing
hour most of the early loss was regained and
more too. Mexican Central again weak,
and seems to be without friends. Brooklyn
Rapid Transit and PENNSYLVANIA sold up sharp,
ly after the early weakness, and the general
tenor at the close steady to strong. Would
buy all good rails any decline.
IA r. Thompson Col
NEW YORK, April 13.-An apathetic tone
characterized the market to-day. Transactions
were limited in volume and represented only
the operations of the floor trading element The
disposition was general to await the outcome of
the preliminary proceedings at St. Paul before
taking a decided stand on either side. Although
at times when weakness developed some support
was given prices there no attempt to
advance the list The uncertainty in regard
to the action that the court would take on At
torney General Knox's objection 20 the Harri-
man petition was not diSsipated during the day,
as If evident that the legal question involved
is likely have far-reaching effects. Opinion
in the street is still very much divided to the
immediate trend values the bearish element
having been largely increased since Monday
The public continues to hold aloof. and there
does not seem be much hope of attracting
outside interest until general conditions greatly
improve.