The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-21
BROKERS VIEWS ON
THE STOCK MARKET
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NEW YORK. May 20.-Many bearish in
huences were al work in the morning ses-
sion. causing a sagging tendency in the
leading issues The published interview by
]. ]. Hill tended to discourage hullish SEN
timent. while the large reduction in the
operating force of the Pennsylvania was
regarded an admission of unfavora-
bic condition of business. The trading,
however, was confined To the professionals
almost entirely. The mornings weather
map shows favorable conditions all over the
Western territory. Continuation OF good
weather for the remainder of the month
Will have an important influence on crop
prospects. The banks have lost about $12.-
100000 this week through treasury opera
lions and gold shipments. The surplus re-
serve will show heavy decrease in to-
morrows bank statement. buying move
nent IN Union racine caused an ADVANCE
in the entire list in the afternoon session.
The close was firm and dull.
Meyer & Kiser.1
NEW YORK. May 2O.-Although the early
trading to-day manifested a recationary
tendency and sentiment seemed to be bear
ish. the afternoon witnessed the develop
ment of g better tone and the active stocks
scored fractional advances. The losses of
seemed to be a slight bullisn feeling among
the traders The market was exceedingly
dull. and at times absolutely stagnanu-
There was nothing in the news to stimu-
late activity, and the trading was of such
character that even professionals were
indispcsed to take the initiative; Only a
small amount of gold, about 100000, was
engaged to-day for shipment TO Paris to-
morrow. The total going out tomorrow
will be about s2,50O,0t0. 1t is understood
that fully $35 00G, 900 of the $40 000,0 900 to be
paid to the Panama Canal Company has
already been sent abroad, and that the
heaviest part of the gold export movement
will continue, but in lessened volume. The
preliminary estimates of cash changes to-
day showed a loss by the banks of fully
SO, 100000. The bank statement to-mor-
row is not likely to be good, and surplus
reserves will probably show a decrease.
The two most active stocks to-day were
Steel preferred and Union Pacific. Union
Pacific developed considerable strength and
maintained Ii throughout the day. Steel
preferred just managed to hold its own.
Amalgamated Copper was firm. and made
slight gain. ST. Paul was dull and fiuctu-
ated within narrow range. Atchison and
Pennsylvania were steady. American Sugar
was strong. The Realty stocks showed lit
tie change.
Ia. R. Thompson & Col
NEW YORK. May 20.JTo-day's market
developed no remarkable feature, but con-
tinued professional in character and ex-
| tremey dull and narrow. The slight i'm
provement in prices was wholly due to
short covering and pool manipulation. The
cancellation of a small portion of gold en-
gagged for to-morrow's shipment is spoken
of as indicating that the end of gold exports
is near, but in best informed circles it is
thought that the cancellation made
because the right form of metal could not
be conveniently had for tomorrow.
re. F. Braulik & Col
NEW YORK, May 2O.-There was little
| more snap to the market to-day. The &c.
100000 paid over to tanks by the subtreas-
| ury more than Offset the effect of the gold
movement. United States Steel preferred
| was a feature, and sold above So, while
| Union Pacific gained point, getting above
| S3A. Southern Pacific was well bought,
and closing prices were about the best of
| the day. Look out for further advance
along the line tomorrow and probably all
next week.