The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-02

standing. Of which s52s .OOs is lodged in the
Treasury Department 10 secure public deposits
Business in the local securities market and
in the general investment line is better than it
last year said Sol Meyer yesterday. 1--WE
have done a larger business than we did the
first month OF 1903 and other houses are the
same way. There is just a considerable
demand for some Of the leading stocks at prices
small per cent below the market. But don't
think February will show any declines of con-
sequence. This month will. think, be good
bonds"
Meyer & Kiser 0rom Bartlett. Frazier & Co.'S
Wall-street house)-There is nothing on which
10 base belief in continuance of the strong
markets Of a week so ago. That boom was
predicted and has materialized. but it looks now
as If II had run its course and left the boom
ers with more stock their hands than is
at an advance. but the verdict of the public
was such that 1t is impossible to suppose manip-
arousing outside interest II the market had
been allowed TO advance without artificial slim
credited operators cannot force a bull market
The public has been educated and this educa-
ton begets skepticism. We do not profess TO
the next twelve months. but know some
thing of the situation which leads us 10 believe
that the turn in the tide OF the steel business
VIII scarcely manifest itself before the end of
A w Thomson 0rom Logan & Bryan's Wall
street house)-The stock market a whole
acted very we'll yesterday. and we believe the
favorable decision rendered in the Amalgamated
Copper Companys will be reflected in
adVarcing the general market. The market
closed dull but strong at the best prices of the
DAY. The railway situation continues not
IaNorabie' while the steel situation will bear
watching closely.
dispatch from New York a local COM
mission house upon the outlook for the Steel
Trust says: Earnings of the United States
steel Corporation for the present quarter from
certain sources of information will be
less than they were for the last quarter of
lpS. only one month has elapsed yet, but we
first quarter of the year will be less than si2 :
Wo'VW: Ihese figures speak for themselves. and
is paid on the preferred stock it will be neces-
Sary 10 nave recourse TO the surplus Certain
prominent directors favor the reduction of the
that some of the directors favor the passing of
the division temporarily. These are facts from
Whlch conclusions may be drawn according to
the point OF view to the individual
local house has the following concerning
John ID. Rockefellers resignation from the Steel
corporation: I'VE understand that there is no
significance in the resignation of Mr. Rookie
Teller from the directorate of the Steel Com
pany. he mas not given the business any atten-
ton, and simply felt he should not be in there
we understand a very
strong man will be elected in his place AS far
as the prices of the stock is concerned the in
sluers seem 10 be sitting the fence. waiting
70 see Wnat orders turn up. They are not salts
factory at the moment. but II is hoped that bet
ter business will shortly come"
+ =
New York Herald--The explanation for the
tremendous increase in the loans OF the local
banks during the past six weeks most generally
accepted in Wall street is that it reflects the
switching into the local banks, because Of low
ruling interest rates for money, of loans pre-
viously maze by out-of-toWn financial institu-
lions ano local trust companies. These inst-
tutions have called their loans deposited their
SURPRISES with the New York banks. on which
deposits they are generally allowed cent
interest, thus obtaining principally as good re-
turns as they could get in the money market
Tor their money without any of the trouble or