The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-17
Chicago Stocks.
by A. R. Thompson & Co.'S wlr..l
BROKERS VIEWS ON
THE STOCK MARKET
Ia. W. Thomson.l

NEW YORK. Feb. 1e.-The stock market to-
day was devoid OF any special features. Excess
sive dullness ruled during the morning session.
broken occasionally by languid activity in
specialties. The trend, however. was unmistak-
ably upward. with evidence Of covering by
shorts in the stock controlled by local cliques.
The opening was steady. The London market
was featureless and changes were drifting. Short
covering was said to be responsible for the ad-
vance in the traction stocks. Consolidated Gas
advanced easily on the buying reported to be
from political forces and covering OF large
shorts. The general movement OF the morn
ing was upward. due mostly to the short in
terest, which had banked on the arising from
the war as well as the heavy borrowing by the
railroads. American Locomotive was active
and scored an advance. The buying was OF tho
best character. No doubt a great deal OF money
recently borrowed by the railroads will be ex-
pended in betterments. The afternoon market
remained dull. the advance being well held.
Bear talk was prevalent on Pennsylvania. The
closing was dull and firm.
Meyer & Kiser.1
JEW YORK Feb. 16.-To-day's stock market
was a dull. stagnant affair. with very little
steadiness, was well maintained until the lat
ter part of the last hour when an easier tone
developed. Selling OF Brooklyn Rapid Transit
and st. Paul developed In the late trading. caus-
ing these stocks To sell down. American IO-
connective was held firmly by it's faithful friends.
Amalgemated Copper was generally steady. but
dealings. Consolidated Gas was particularly
strong throughout the day. The market is suf-
fering from inertia.
IPorterheld & Col
NEW YORK, Feb. 16.-The stock market
opened fractionally above last nights closing
prices and showed the same tendency towards
dizziness IL displayed yesterday from the start.
There was. however. a decided undercurrent OF
strength throughout the list. and at times large
blocks OF Pennsylvania and Amalgamated Cop
per made their appearance. but always at en-
HANGED prices from the last transaction. Loco
motive common woke up from It's usual sleepi-
ness and quite a considerable amount OF the
stock changed hands at %. This stock has all
would not be surprised If it showed a decidedly
higher price before the end Of the week. War
mental factor market wise, as London came
higher this morning and was a fair buyer Of
feature to the days trading. but the entire set
shows an undercurrent OF strength that is sur
P FelS of the Mi eTanEers r %ere dull m but tau Srm ane suf fas
made a little squirt in the early part OF the ses-
sion. but lost part of IL later on. The most OF
the active list shows a professional tendency
both ways. but on breaks and sells on spurts-
for a scalp.
"A. r. Thompson & Col
NEW YORK Feb. 1s.-The stock market made
a further recovery to-day on short account. the
bears becoming nervous over the maintained
strength and lack of liquidation heretofore noted.
Dizziness ensued after the early bulge, but prices
were fairly well sustained. professionalism dom
mating. The outlook is such that we recommend
the taking OF fair returns on the long side. Spe-
cislty improvement for a time seems TO be in or
der. but we do not expect just now any large
advance, but rather a trading market. in which
the trading position Is the best. with scalping
the most profitable operation. The general dis
position appears to be TO await the Northern
Securities decision, which, il is now rumOred,
may be handed down the last Of the month IL
was stated on good authority to-day that. while
the decision will probably be adverse. the court
will point out a way by which the company may
comply with both the letter and spirit Of thu
law. II this be done IL will prove a bull card.
Inasmuch as the necessary liquidation has been
completed in the stock market there is nothing
TO worry about, but there are always speciality
movements up and down in any general move
ment. We are favorable 10 the purchase Of Atch-
ison. Rock Island. Brooklyn Rapid Transit and
Southern Pacific whenever they decline. They
should be bought on weak spots for turns The
iron trade Improvement does not make IL advisa-
BILE TO sell United States Steel preferred short
tust now. and we would rather buy than sell IL
on reactions. one reason for favOring the bull
side Is the general widening in a favorable way
OF the breach between imports and exports. The
war has been practically discounted. barring Eu-
ropean cables.