The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-17
Local Financial Gossip;
Bankers and Brokers' Talk

Local securities clogs the week with indica-
tions pointing to higher prices in the leading Is
sues within a short time. The sale Of Water IS
has easily been the feature Of this weeks trad
ing. II is estimated by conservative brokers
that nearly 100000 Of these securities have been
sold. Not all OF the transfers have been re-
ported to the Stock Exchange. The largest indi-
vidual sale vas $4,000. reported 70 the exchange
Monday. The bank and trust company stocks
have been very dull all week and Capital Ma
tonal is the only one that has advanced any on
the bid price The bid for this stock at the last
session Of the Exchange was 145. y point ad-
vance the quotation at the close last week
Tho largest gains this week were made by Belt
closed the week 10Slz bid. 2lz points advanced
points higher than the close last week Citi-
zens' street-railway As advanced z point. to lo6
this week.
II the cIearings Of the Indianapolis banks are
large the remainder Of the month they
were the first sixteen days the showing for the
month will be almost 100000 larger than for
far this month amount 70 S14S76 0lSS1 The
clearings for the entire month OF January. lsOS
were sZ5.726. 4s4.O7.
A. W Thomson from Logan & Bryans Wall
street house)-Though bullish on the general
situation we recognize the fact that the stock
market will not likely broaden 10 any extent
for some time; 1t viii rule strong. however
believe the market will sell higher next week
There were reports from New York yester-
day that the decision in the Northern Securi-
ties is expected tomorrow. This IS not
in line with the statements made from Wall
street for some time upon this matter. The
more general opinion seems 10 be that IL will
be some time-perhaps not until May-before
the decision is handed down 1t is not thought
the general list will be affected to any great
extent either way by the Supreme Courts hold
ing in the Northern Securities case.
Meyer & Kiser had the following yesterday
afternoon from Bartlett. Frazier & Co.'S Wall
street house: The real feature of the market
was the strength and activity of the Steel
sinking fund bonds. These issues were ag-
gresively strong. and the transactions tn them
We're large. There particular explana-
ing h IN tne steel trade PehnSyIvana ana wa wa
meager and cable dispatches from Europe indi-
Gated the possibility of war"
1.-THE investment demand for bonds is again
looking up" says w. G. Nicholas the Journal $
Wall street correspondent, and the great bank
ing houses which are fatherng a number of new
issues by railroads apprehend small difficulty IN
finding buyers for their goods Call money is in
plentiful supply at ~ to 2lz per cent and safe
as they may need and Az per cent. This
condition was precisely what was looked for and
occasions no surprise in wel-informed circles.
At the time bankers discourage the whole
sale and indiscrimnate production of bonds and
will have nothing TO do with issues not legiti-
matey called for. They exercising prudent
discrimination and wild-catting imprudent ex-
penditures are frowned upon regardless Of their
origin"
NJ f. Elliott, attorney in Chiacgo for the Stan
dard Oil Company. yesterday authorized the fol-
lowing statement in answer to a published report
that John D. Rockefeller believed war between
Russia and Japan certainty and that II would
be uplift for American trade:
II desire TO state on behalf Of John ID. Rookie
Teller that he never stated intmated to any
officer of the Standard OIL Company TO any
person In the world that he believed war between