The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

ments in yesterdays market were in Pennsyl-
vania, the. Gould securities and some OF the
minor railroad stocks that nave been RECEIVING
the attentions of the manipulative fraternity
Pennsylvania was consistently strong, and Wa
bash. Missouri Pacific and like stocks were also
Iavorably effected. alton was again speeu-
laive favorite and Glover Leaf displayed
great deal Of animation.
:
Wall street wire to local broker. says
THE cheapness OF money. both on call and
time. has stimulated manipulation considerably
1t is generally of the unambtious character,
contemplating turns OF from TO per cent
Various houses. pools and cliques are comm,
ing their operations 10 what might be termed
a scalping basis, while so uncertain as to the
ultimate tendency Of the market. Manipulation
OF TINS petty consequence manifested user
in the latter part OF the week. not only in
various s.pecialties but in some of the leading
railroad issues as we'll
a. W. Thomson Cfrom Logan & Bryan's Wall
street housel-We believe there signs of
good buying in evidence in yesterdays mar
ket, and look for the upward movement to
continue. The activity in the market yesterday
can easily Dc ascribed 10 more peacetul news
from the seat Of trouble in the East. foreign
security markets rejecting this condition II
seems certain that many OF our railroad stocks
are considerably oversold. and this short inter
est has increased recently. The bears antci-
abroad. The strength of the active issues was
probably more attributable TO this condition
than anything eise. Many Of the inactive. cheap
railroad stocks were marked UP by pool manip-
ulation money being sufficiently cheap now
for such movements.
The New York Financial News says: The
developments over Sunday of charac-
ter to inspire confidence and look for a
BETTER stock market during the week The
favorable bank statement and the relaxation
Of the money market are also factors in the
Improvement, along with the improvement in
the Russian Japanese situation. Speculative feel
ing is more bulish."
Finley Barrell-I will have to give up the
bear side of the stock market If prices do as
well they did last week with all the foreign
and bear selling. Stocks certainly ought tc
advance. l advise buying the good rails now.
The manager of the bond department of the
First National Bank. Chicago. says: Bond
sales thus far this year have been disappont-
ing. But l look for much improved market
in Chicago and the West comes from manu-
facturers and merchants IL does not look now
business and manufacturing past years and
for that reason there Will be less demand
for money for extensions and improvements.
The funds which otherwise would go into inn
provements or extensions of plants will now be
invested in bonds 1 find that our customers
money in their business this year. they dc
not anticipate an increased volume OF orders. -
A r. Thompson & Co.-The stock market
looked a trife overbought last night especially
among the low-prced securities that have nc
value except for speculative purposes Our ad-
vices not to ignore fair profits on the swell:
and on good reactions ito buy stocks of gooc
value. such Missouri Pacific Union Pacific
Baltimore Ohio and Louisville 81 Nashville
Until the final decision in the Northern Securi
ties case, which will be some time next month
stocks will probably have good breaks and gooC
| rallies from time TO time. and they should b,
taken advantage OF both ways.