The Indianapolis journal., 1904-03-12
BROKERS VIEWS ON
THE STOCK MARKET
IA. ". Thnmsnn.1


NEW YORK. March 1.-THE opening was
little active than for some days past
Traders made determined effort to induce out
side interest by selling the leading railway
stocks. However. buying orders were in evidence
on the decline No doubt some selling was
ssssd on , the possible & handng down sb @
case. on Monday next. London sold about 1000
shares mostly for arbitrage account The sales
were confined to Southern Pacific. Pennsyl lvania
and Baltimore & Ohio The decline Metro
poltan sreet-railway was one OF the features
and the selling was reported 10 have originated
with the Waldorf clique. AZ reasonable expla.
lnterooro for franchise 10 operate cars over
the East-river bridge has disturbed the Metro
politan interests. The close was uninteresting-
Meyer & Kiser.l
NEW YORK. March 11.-There was little
more activity in the stock market to-day. but
it was largely at the expense of prices and had
its initiative with the traders who desirous
Of ridding themselves of some of their holdings
in anticipation of the Northern Securities de-
cision. which may possibly be handed down on
fined to the forenoon session. and in the after
noon the market fattened out and became just
had the best of the argument during the day.
There was slightly harder tone in the after
pronounced improvement There is all sorts
of gossip going around concerning the Northern
that the Supreme Court has great difficulty in
making up its mind that there is serious diff
court. This is all imagination and rubbish.
for no one knows anything about the delibera-
weeks the selling of stocks has been noticea-
BILE feature Of Friday trading and until the
may be expected to recur each week There
was a serious weakness manifest early in Metro
during the day. No definite explanation can he
given. but among the one TO the
politan being thrown on the market This
does not seem particularly probable. Another
terests might secure the WiIIiamsburg bridge
facilities to the exclusion of Metropolitan.
active stocks were Union Pacific. Pennsylvania
Baltimore Ohio Analgamated Copper and
were weak in sympathy with Metropolitan. but
they did not suffer so much Union Pacific was
subject TO considerable selling Chicago
selling Of Peoples Gas noticeable. Penn
spell during the forenoon session be see
stocks were reactionary. London sold about
Realty preferred very noticeable and the
selling seemed to come from insiders. The pre-
slight loss by the banks.
IA. r. Thompson & Col
NEW YORK. March u.-Another dragging
market presented itself to-day, and while the
tranactions a little larger in the aggre-
gate, activity small. the governing feature
being the expectation that the merger decision
would surely be handed down Monday. The gen
eral list is likely to wait for it before assum-
ing any definite tendency, as that is the atti-
tude of the professional element which rules
the market changes at the present time. There
was liquidation of consequence to-day and
the losses were confined tG specialtes They
We're sold down for particular reasons. and under
cover OF their weakness Union Pacific, Atchison.
Southern Pacific, Missouri Pacific and Balti-
more & Ohio were well bought. Reports from
all directions to hand to-day, confrma-
tory of the betternent in iron circles and we
think our statement some time ago is well borne
out. that good times are ahead Such as
Frick and Schwab are said to have informed
their friends that the worst is over in the
steel trade. Independents and the United States
Steel authorities seem to agree upon this point
Good advices come from headquarters a Pitts
1 burg We strongly believe that the next dvi
dend on the United States Steel preferred stocl
will be maintained and advise the purchase o.
the stock Interests closely identified with tn,
Peoples Gas Company do not feel bearsh OF
that stock. Brooklyn Rapid Transit was bough
to-day by friends Of prominent traction people
who said to have told them to sell Metro
| politan and buy Brooklyn Rapid Transit whcl
| latter stock will be benefited by arrange
ment between the Interborough and Brooklyn
Rapid Transit, soon to be announced. There Il
estimated TO be q short interest in the stocl
| market extending up towards the l. 000, 900 shar
mark, and when IL starts to cover there shoul,
| be fire works. We firmly believe that the stand
ard stocks should be bought on all drives