The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-11
Chicago Stocks.
BROKERS VIEWS ON
THE STOCK MARKET
Ia w Thomson 1

NEW YORK, Feb. lO.-The opening here re-
sponded to a slightly better feeling abroad.
The London market reported Japanese bonds had
gained three points the naval victory. Amer
leans ruled Ac to nc below parity. The fall
OF banking house in Bremen attributed
TO the break in cotton The strength shown In
the forenoon session largely due short
covering. There was also excellent support
given by banking interests. and no doubt some
There evidence that standard OIL interests
were supplying bids freely, especially on the
standing the free supply of offerings the market
held remarkably firm up 10 the noon hour, when
rumors of additional stock issues by the 81.
Paul and Wabash railroads circulated and
on the top OF this came the poor statement
The market closed weak and rather unsettled.
Selling OF St Paul and New York Central
tinued on the reports OF new stock issues.
Meyer g. Kiser.l
NEW YORK. Feb. 1O.-A pronounced resc-
tionary tendency developed in the stock market
in the afternoon. Trading and prices sasged
very easily. High class stocks the chief
sufferers and such securities as ST. Paul Penn
sylvania and New York Central were par1icu-
larly weak During the forenoon session the
market was fairly steady and the tone reia-
lively good The strength OF the market dur
ing the early trading due aggressiveness
in certain specific spots Manipulation was in
A brand new pool in Brooklyn Rapid Transit
took hand in the game and did some spectacu-
this security very strong. but its strength
was sc palpably artificial that II deceived no.
body This new pool Ia made up OF the various
elements Of the old one and II is the same
speculative political group that forced the stock
up anything but manipulation need not be
believed. The steAdiness Of the market until
artificial stimulation referred 10 and TO the lack
OF activity and scarcity OF selling orders from
abroad. There was no aggressive selling in
fact until the afternoon. Before the close the
weakness was pronounced and even the efforts
Of not 10 air nvfca
The Steel stocks, which had been very steady in
ferred sold down towards the figure more nearly
representative of its actual worth and pros
poets. St Paul was hurt hat by a ruInor
that it would issue some Of its new stock within
a short time. Ii Is not impossible that this
from the overdose of financing IL has been sub
jected 10. Its allied stocks. such as the Balti-
icted sympstheticaiiy. The Industrial are ero ar
held its own we'll in the earlier trading. but
Peoples Gas on the exeelient report Tra1san "a
lions for foreign account were not large.
IPorterheld & Col
NEW YORK. Feb. 10.-Although London was
seller and sent lower prices. the sentiment
here early favored a further advance and the
first hours trading mostly at advances over
last nights strong closing. Later the war news
caused some hesitation. then later the bad state
ment of the New York Central. which shows a
decrease OF $SSS.o0 for December. acted a
camper upon the upward movement This
stock started decline and yielded s. share
from the opening Others subjected to
profit taking and the aftermath OF the Baltimore
fire. The fear of securities held by insurance
companies coming the market gave the pro-
fessionals fresh argument to sell upon. United
States Steel hestated around IS and some
one who had good profits took them. Copper.
Brooklyn Rapid Transit and others which had
been prominent early were also realizing and
the final hours trading was at the expense OF
values Compared with the last nights close
the list with the exception of New York Cen
trial. Pennsylvania and few others OF high
priced stocks. shows only fractional declines.
We are not disappointed in to-days movement.
Probably tomorrow Will witness q further de-
cline, holders will not TO carry over
the holiday, but believe stocks can safely
be bought on. the weak spots tomorrow.
IA r. Thompson & Col
NEW YORK, Feb. lO.-The stock market to-
day showed the further effect Of oversellinE by
rallying higher in orderly fashion stocks
which had been most oversold being subjected to
the greatest rise. Developments OF the day
were not of great interest. More gold came to
hand from Japan, and it was reported that about
SIS Geo viii be RENTED by London for ac-
count OF the Baltimore fire insurance Money 4
in better demand and promises TO continue So
The from the seat Of favored Japan
and il is regarded bull card when victories
are reported for that country. Some OF the re-
ports told OF complications that might arise by
China joining against Russia and Bulgaria
fighting Turkey because CT Russian defeats
The war will, OF course, ke copper prices 20
up. and Amagamated Copper is regarded as a
clined TO recommend the purchase OF Pennsyl-
vania New York Central. and believe ts.ey
should he sold short on mari spots. There are
conditions surrounding both that make such
action advisable. The enormous Indebtedness Of
both companies being continually added TO makes
the burden too much for the dividend rates. in
they should be considered with that point In
view by stock operators.