The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-15
BROKERS VIEWS ON
THE STOCK MARKET.
Sentiment Was Improved Yesterday
and a Number of issues Advanced
One Point or More.
Ia. w. Thofnson.l


IA. W. Thomson.l
NEW YORK, Jan. 1.-THE market opened
firm and reflected the range of prices from Lon
don. Traders on the floor showed some dispo-
sition to bid for stocks and to test the extent
of the shorts. Pennsylvania advanced a point
on covering of shorts, Southern Pacific and st.
Paul were we'll bought and showed remarka-
BILE strength, and there was unquestionable
evidence of good buying of Union Pacific. The
Goulds, under the lead of Wabash preferred,
showed more activity. Among the speclalties
Wisconsin Central. Iowa Central. Kansas City
Were tbe 1na and all scored fairly good
advances for the day. The strength in Wiscon-
sin Central was due to the fact that some of
ths largest fPs com hoadSrs a nsV in fa 1hs most of the in preseHf
stockholders getting a dividend when The vot-
ing trust is Dissolved next July tdSa, In the DT IaSt
taking, but the market closed strong.
Meyer & Kiser.l
NEW YORK, Jan. H-Dullness ruled the
market to-day, although there was at times
just a little more animation than there was
yesterday. Trading was In small volume and
entirely professional. The tone of the market
was generally good, however. and no weak
spots were developed. Some stocks scored slight
advances over Yesterdays closing. and the high
prices of the day showed a substantial better
not fully maintained, however, and the closing
prices were fractionally lower than the best.
fore. was woefuliy mixed. London however.
seemed to regard it as more favorable to peace
and its securities market continued strong
ing as TO furnish an element of uncertainty
in the market. The most important news Of
bond plan. This called for an issue of s163,-
900. 900 4 per cent. thirty-year bonds. of which
SIS. 600, 600 are to be issued forthwith. $50, OPS, 900
are to be reserved for retiring and taking up
other bonds and notes of the various subsidiary
companies. when due. Further S13,5 500, 900 are
to be reserved for future acquisitions by the
company. and ss7. $4,000 are reserved to be
issued for future improvements, and $25, 900, 900
are to be held by the trustee to be issued in
exchange for certificates showing the amount
or for the betterments or Improvements. The
new mortgage will be a first lien on Las miles
of road and a junior lien on $3.50 miles of road.
The details of the bond issue are published
in the papers and it must be said that, it is
which was discussed last October. There were
times during the day when the market showed
ness prevented any such exhibition of virility.
During the early afternoon the market be-
came a little active and there was some profit
taking, and. some short selling also. Indi-
vidual stocks furnished little of interest. Penn
sylvania was the object OF a boD,taiied bear at
ment in Rock island was rather active. but
the rest stS Of the dS t hist m 5h9Tef little The in rasItY st frSm
were weak. Specialties. such as Consolidated
Gas and General Electric, were strong. The
industrials generally suffered from inertia. The
traction stocks iuctuated within narrow limits.
Money continues easy, and the banks have
AAooS 6OANo ~ N00 Nho = ~
Bic.
[Porterfeld & Col
NEW YORK. Jan. 1.-THE extravagant war
stories in the newspapers last night were
another case of yellow journalism. The war
stories did not pan out. London sent higher
prices for consols, accompanied by higher
prices for American securities. Paris bankers
viewed the situation more favorably. The mar
ket opened at an advance, with the exception of
Rock Island. which was depressed. 1t is be-
lieved the Gates crowd bought heavily on the
and wisconsin Central The former was bought
in blocks around 1O. The latter made gains for
both issues. The strength In the entire list
taking by the local crowd caused some reac-
ton. But in the majority of the stocks the
market held well.
IA. r. Thompson & Col
NEW YORK. Jan. 14-Important developments
occurred in the stock market to-day. Judging
from the best sources of information. we find
that it is almost certain that peace has been
established between the Pennsylvania and the
Gould factions. This is most important. II
means that the Rockefellers who are behind the
lieve that the Pennsylvania and Gould issues
will advance on this nfOrmatio The inception
Wabash preferred. Pennsylvania was strong to-
day also. Missouri Pacific shared in the better
feeling. Another important piece of news was
the announcement OF the Rock Island bend issue,
and IN view OF il and other information we have
we are inclined to strongly recommen the pur-
chase of the Rock Island securities. believing
that a campaign will be commenced shortly In
them. The significant part about the bond issue
is the fact that nearly S4O.000.000 are reserved to
buy other roaqs, and we would not be surprised
TO see the Alton pass under the wing of the
Rock Island. 1t is significant that the Rock
Island people deemed the time propitious to
issue bonds, for which there Is now noted a bet
fer demand