The Indianapolis journal., 1904-02-03
BROKERS VIEWS ON
THE STOCK MARKET
IA. w. Thomson.1

NEW YORK Feb. 2-The decision rendered
yesterday in Montana in favor of the Amalga-
mated Copper Company was more sweeping than
was generally under1tood when the decisionn was
announced: This issue opened up 1 point and
advanced fractonally and then reacted points
The transactions were exceptionally large and
stock was freely supplied. advantage having
been taken by the traders to sell good news
The movement in United States Realty was at
tributed to the Gates following. it's wide fuctua-
factor. buying 900 shares by balance
After the first hour the market became very
mated continued be the weak feature in the
last hour, and this affected sentiment in the
Meyer & Kiserl
NEW YORK, Feb. at is not possible to de-
scribe to-day's market in detail without having
recourse to a favorite expression of the folks
who supply information that is alleged to be
inspired. The particular expression desire to
borrow is the phrase ''spotty' That desig-
mates the characteristics of the stock market
to-day. There periods OF steadiness. al
ternating with weakness and reactionary
tendency. and I'm the later trading dullness super
Vened. There was no aggressive movements by
either party In the market, although the pro-
fessional operators who are playing for higher
prices started OF bravely enough by putting the
market up-at least for their specialties. The
strength Of London helpful factor and
the energy injected into Amalgamated Copper
by the favorable decision in Montana helped
in the betterment OF the market in the initial
trading There steadiness in comparative
degree during the first hour. but there less
afternoon market was extremely narrow and
dull. Amagamated Copper did not hold its early
strength and eased off substantially. Profit
taking was partly responsible for this. Reduc
tions in the price Of the copper metal also
a bad influence. Brooklyn Rapid Transit was
weak throughout the day and the selling OF
that stock regarded as good The Steel
stocks. particularly the preferred. were erratic
stocks were Atchison. Union Pacific and South
Pacific. and there good buying OF all
three.
[Porterheld & Col
NEW YORK, Feb. 2.-The opening showed
considerable strength all around. and London
also sent higher prices. Brooklyn turned weak
on the illness Of Mr.. Whitney. which encouraged
bear raiding There good support around
40. Copper the real feature and advanced
close to IL The foreign buying persistent
in this stock. Realty preferred was up the
report that the alotments would make the stock
worth S75. The market became dull after the
had a bull panic and went up 100 TO l25 points in
thirty minutes. This started some realizing in
stocks. and the professionals pressed the market
and attacked all vulnerable spots. Copper
Others declined from 4 to point Southern
Pacific and Pennsylvania held the best. There
is a tremendous short interest n both of these
stocks. The market Is prOfessiC /. The West
forts to the specialties. Rather look for lower
opening. but narrow fluctuations
"a. r. Thompson q Col
NEW YORK. Feb. 2.-There a manifest
lack Of liquidation in the stock market to-day.
yesterday. Some short covering noted on
the Amalgamated Copper decision. And we be-
heve that a big advance VIII occur In the near
future in this stock account Of the fact that