The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-09

There is still considerable inquiry in the local
securities market for indianapolis Street-rail-
way stocks and bonds. None Of these securi-
ties are offered for sale. In the Philadelphia
market. where the majority of this stocks and
bonds is held the stock cannot be bought under
3. And at the present status OF street-railway
stock in this market brokers cannot AFFORD TO
pay s. for IL.
There is little or no Union Traction stock
changing hands in this market but the Stock
Exchange quotations for the common show an
ADVANCE Of about 50 per share from the low
the preferred. also has advanced since that
time.
The first sale reported on the Stock Exchange
in three days was reported yesterday-twenty-
five shares of Merchants National at 1876.
Z :
A wall-street wire says: London special
reports regarding the situation in the far East
titude is hopelessly opposed TO the japanese idea
OF settlement. Official circles awaiting the
first shot.
The favorable factor of the situation which
makes for better market conditions is the ease
in money. Seldom has Wall street been able to
look forward to the future with less misgiv-
ings about money. 1t is admitted by the bank
ing institutions that easy rates will rule this
year, particularly after the first two months.
In fact, brokers report that time money has
been offered them this week for ten months at
Az per cent; The mercantile community is also
feeling the benefit of less stringent money con-
ditions.-United States Investor.
Comparatively few Russian Japanese Sc
curities held in the United States. The
New York Life Insurance Company. accord
ing to its last report, held on Dec. 81 last
1898. 742 Russian bonds. but reported no Japa-
nese bonds among its holdings. Few If anS
japanese bonds are owned by life insurance
companies or private investors, and the direct
I effect OF a war between Japan and Russia would
not be felt materially in the United States. 1t
would undoubtedly bring some selling of Amer
lean securities now held abroad, but, on the
other hand, the increase which would naturally
come in provisions would more than make up
for any losses which might come In the stock
| market
| The probability OF in the far East has
had decided effect upon British consols, which
Thursday sold at the low record of recent years,
| touching Sc 1916 A great many consols are held
! in this country. At the time of the last ISSUE
| which put during the South African
war some $50, 100000 Of these bonds were taken
for the account of American investors. 1t was
generally understood at the time, however, that
/ a great many CT these bonds taken for
| vance which followed the successful closing OF
the subscription lists large part of the bonds
were sold in London. The National City Bank
two years ago bought consols to the amount of
| $40. 600. which it had registered in London
l anu against WHICH IL issued certncateS. 1heSe
| certificates were sold pretty generally through
| out the United States. but during the last few
| months practically all have been retired 1t is
understood the entire block, except for a few
/ bonds representing certificates still outstanding,
has been sold in London.
Porterfield Co-Reviewing the entire days
business in the stock market yesterdays session
was an encouraging TO purchasers. We be-
lieve Southern Pacific. Union Pacific. Missouri
| Pacific. Wabash, Copper and Brooklyn Rapid
| Transit good purchases.
| THE fact is not generally known says Har-
| den. the Wall-street correspondent, but two
years ago the japanese government approached
| certain banking concerns in the United States
| for the purpose of effecting the sale of a bond
| issue OF q. zoo. 900 yen. The Standard OIL Com
| pany entered into negotiations with the Japa-
nese government for the taking over OF these
| securities The bonds were offered to the Stand
| ard Oil Company very liberal terms. and as
| added inducemeEt the japanese government
was wiling to give the Standard Oil Company
/ certain concessions in connection with the Jana