The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-26
Chicago Stocks.
BROKERS VIEWS ON
THE STOCK MARKET.
IA w Thomsnn-l

NEW YORK, Feb. 25.-The opening was FIRM
er, in sympathy with better tone Of Americans
in London. There are evidences of professional
short covering a fairly large scale. The active
stocks were Amalgamated Copper. Union Pa
cifc Baltimore & Ohio and the Fries Con-
soldated Gas recovered nearly all it's dividend
in the first two sales The list held well during
the morning session. with special news OF
Importance. No further failures reported
in Europe The advance from morning. which
appeared directed toward the extended short in
terest gained ground as the day progressed.
The rally received with much satisfaction
and a more cheerful feeling was engendered in
vanced by Interests closely identined with the
company. The closing was strong and sentiment
more cheerful
Meyer & Kiser.l
NEW YORK, Feb. 25.-Although generally dun
the stock market was strong this afternoon and
the net results of the days operations were sat
isfactory from the point Of view OF those who
favor an upward turn of prices. All the stand
ard railway stocks well held and the in
dustrials shared in the general betterment. IL
would be pleasant be able 70 say that the
subsurface indications point TO a continuance
of these conditions. but the facts would not
Judge the general situation are pessimistic.
Among the active stocks in to-days market
was St Paul. which scored a substantial ad-
vance. There was some excellent buying Of that
stock
for it. rrhe regular dividend declared to-
day. Pennsylvania was also active and COM
paratively strong There is a large short inter-
est in pennsylvania, ana persistent bear
crowd operating against the stock Pennsylvania
handle it recklessly on the short side. Amalga-
mated Copper was very strong and Brooklyn
strength Southern Pacific acted well. Tbs
strength OF the market developed about midday
and was held during the afternoon London was
buyer Of stocks during the day some OF the
buying Of Sugar was very good Atchison was
very good tone. Time money was slightly hrmer
and there a good demand for longtime
funds.
NEW YORK, Feb. 25.-There quite
bound in the market to-day and the close shows
gains ranging from y 10 share. and tho
most encouraging feature is the general distri-
button of the advance. Early there tip on
AmaIgamated Copper. in anticipation Of a de-
cision in the Maginnis case This stock led the
advance. gaining Ia from last nights close.
other stocks. including Steel preferred. were
well bought Wabash preferred and other Gould
interests fully responded ST Paul was strong
on the declaration OF dividend The foreign
financial situation is much better and We be-
vance to-day is in conformity with ex-
pressed views Of yesterday. The short interest
The banks have gained from the treasury on
the week. Secretary shaw was in consultation
ranging the Panama finances without disturb
ing bank balances. Would buy moderately, but
IA r.. Thompson & Col
NEW YORK. Feb. 25-The stock market
showed to-day that IL had been oversold. and
with the report from abroad that the settlement
had been concluded without financial distress.
a rally occurred on the shorts. As stated in
cur letter Of yesterda. the market IN a
position to recover vi the cessation OF liquida-
ton. which ceased this morning and buying
orders OF considerable proportions displayed
l themselves al the opening. which caused the
I professional element 10 swing 10 the long SIDE
for a turn. There signs that extension
of the recovery viii take place. based upon the
better feeling abroad. The foreign situation ha =
been the dominant factor, and with its better
aspect there T. no reason for apprehension. The
local difficulties have all been discounted. and
foreign private advices this afternoon say that
no further failures expected this week abroad
and probably the worst Is o,er. The money
/ narkets abroad have been comparatively easy.
They should be watched closely. 10 D. probah .
! that a Russian victory would cause sim het-
/ ter feeling an European circles We are IN
/ formed to-day that Amaigamated Copper has
/ favorable Developments pending. There Is talk
\ of peace next week and decision Ia favor O,
/ stock Is tipped FOR a sharp recovery. We also
| gel very strong points 10 buy Brooklyn RAPID
! transit. which has been accumulated BY strong
| interests this decline We believe the bot
tom has been Appropriated. We nrrnly con-
| WINGED that Southern Pacinc ia OF the besa
purchases In the list around present prices.