The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-09
Local Financial Gossip;
Bankers and Brokers' Talk

oil fields. Experts sent from
this country look into these fields and for
through and that the bonds would be taken by
the Rockefeller party 1t was abandoned how
experts who examined the japanese oil fields
and who reported on conditions in the oil trade
in the Orient"
Stockholders Of Swift & Co. at their annual
meeting Thursday voted to increase the capital
stock Of the company from SIS. 100000 TO s550Oo,
COO. the issue TO be put out in the immediate
future. The $1O.OOO.OOO of new stock will be Of
Tered TO present shareholders at par. and they
nave the right 10 subscribe for IL between Jan.
Is ard Feb. g. the shares to be paid for by the
last mentioned date If all the stock is not sub
scribed for il will be offered TO the public at
price not less than par With the $1,000 OOO it
Is proposed purchase the wholesale distribut-
ing markets in New England States, New York
and New Jersey now belonging to Swift & Co.,
a corporation OF the state of Maine and those
in Great Britain belonging the Swift Beef
Company limited The company wear of 1903
prosperous one net profits being equal to
Y per cent. on the present outstanding capital.
in his report announced the book value Of the
stock TO be l25.
Says the Financier: THE new year opens with
banks almost everywhere throughout the coun-
try in most excellent condition, not only
CARDS reserve. but in other respects The
nual reports which will be made to the stock
holders will probably show most satisfactory
results. and possibly dividends may be increased
while augmented profits will be reflected IN q
higher surplus. The prospects now are for a
continuance OF prosperous banking conditions in
the new year provided nothing shall occur 10
prevent improvement in the business situation.
SO lar as can be foreseen there is nothing which
can seriously impede trade and industrial prog
ress. and the comercial situation is most en-
of staples and of goods and oy increasing
international balance of trade
A. r. Thompson Cove nothing
in the immediate situation to warrant any great
activity in the stock market, and we would
advise profit taking all rallies. the
ket looks to merely a traders one for the
time being Under the lead of higher London
cables, due to the slightly encouraging outlook
in the East, our market opened somewhat high
were EXTREMITY light, however, and price move
ments were within narrow limits, practically
rise In Amalgamated Copper, brought about by
the report OF an amicable agreement reached
r +
Daniel ]. Sully says that cotton will advance
2Ac a pound upon the firing Of the first gun If
there is war between japan and Russia.
: :
A director ot the United States Steel Corpora
tion says the last quarter and the present quar-
ter will be put down in financial and industrial
history as the poorest quarters in orders and
earnings the company Will have for many years.
A w. Thomson has the following from Logan
Bryans Wall-street house upon the outlook
in the stock market 1.-The market in shape
to rally from 1 to points at least. Money is
in abundance for all purposes. The South.
Middle West and Northwest in excellent
condition. The short interest in Pennsylvania,
Steel, Atchison and Union Pacific is very large.
Those stocks should be taken for turn at
least"
From preliminary statements it looks as IL the
bank statement to-day will show that the New
| York banks have gained from the subtreasury
and the interior since last Friday between &c.,
600 900 and S2. 600, 900. 1t is generally predicted
| that the statement will be a good
| Bartlett Frazier & Co.'S wa-street house
wired Meyer Kiser yesterday afternoon: "Ap-
| parently sentiment abroad is less pessimstic
| in regard to the Russian Japanese situation
| than for some time. In Paris both japanese and
Russian securities strong and London
houses disposed to buy stocks here. Bal
/ timore x Ohio the leader at the opening.
advancing sharply on a rumor that the stock
4 had listed the Berlin BOurSe.'