The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-21
Chicago Stocks.
by A. w. Thomson's wire.l
BROKERS VIEWS ON
THE STOCK MARKET
IA. W. Thomson.1

of Metropolitan yesterday was due to the
sale of a large block of stock for the pur-
pose of establishing price In the settle
ment of a partnership. This explanation.
however, came out after the close, and the
sellers of yesterday afternoon turned buy
this morning, giving semblance or
support to the market. The support given
TO Union Pacific came possibly from other
sources than traders operations and looked
TO like good buying. The strength In
Southern Pacific was supposed to emanate
from the same source. Among the indus
trials the United States Steeis were weak
under selling pressure. The decline In ire
preferred due to selling by Pittsburg
& Western interests. The basis for this
selling was on account of the Clarion deal
and the increased fixed charges of the Steel
Corporation resulting therefrom. The adj
vance in Consolidated Gas of points was
due to manipulation The marking up pro-
cess by insiders was said to be due TO prom
ises made to interests at Albany, which
had the Remsen bill in hand and who were
successful in having it passed by the Legis-
lature. Gold to the amount of s1.500,0o0 was
engaged for export on to-morrow'S steam
ers, and there was talk of additional ship
ments to follow. The directors of the
clare the regular dividend at the meeting
to be held tomorrow. Just before the
close the announcement was made that
J. II. Vanner & Co had brought a suit be-
fore Judge Dieterich, of the Supreme Court,
In connection with the proposed plan of the
Northern Securities distribution. They sue
as oregon ShUrt-line bOndholderS. The
closing was quiet.
Meyer & Kiser.l
NEW YORK, April 2O.-Irregularity
marked the general movement of the mar
ket to-day, and during the greater part of
the SaScior, traders uere ina olive and opara
tions restricted. There were periods of
heaviness, and even weakness, but the mar
ket was so narrow that the downward
movement was not carried at any time to
excess. The active stocks were few in
number, but they made up by far the
greater part of the days total of trans
actions. The real feature was Consolidated
Gas, which sold up to 1101a, the highest
figure touched by that stock in a long time.
1t seems TO be clear enough that the inspi-
ration of the advance is the belief that
the mayor will approve the Remsin bill.
We believe that IL Will be announced late
this evening to-morroy morning that the
bill has been signed. OF course, it will not
become a law unless Governor Odell APP
proves il also but it is very likely that
he will do The high price of the stock
to-day is not likely to mark the elimination
of the advance, but temporary setback
is amongst the possibilities There has
but we can state authoritatively that
circular to the stockholders the voting
mailed at the end of the month. 1t will prob
ably state that a majority of the holders of
the present voting trust certificates. having
approved the plan, the voting trust is ex-
tended five years. Changes in the execu-
tive department are likely within month.
Weakness in the Steel stocks was feature
of the afternoon. 1t was not confined to the
Steel Corporation stocks, although these
issues were weak. The minor steel and iron
stocks and equipment companies stocks
were weak, notably Pressed Steel Car and
Republic Iron and Steel. All the gas stocks
were strong. Brooklyn Union Gas sympa-
thized with the advance in Consolidated
Gas fractions were strong under the lead
ership OF metropolitan. Delaware & Hud-
son was relatively active. St. Paul, Atchi-
son, Pennsylvania and Union Pacific nuctu-
ated within narrow limits and showed no
Gold to the amount of s1,5Oo.o0o was aiken
for export. London did very little in this
market.
IA. r. Thompson & Col
NEW YORK, April N.-The market to-
day in the hands of bearish profess
SIGNALS. The general weakness was pro-
nounced and there was an utter absence of
support to prices, save that which occasion
ally developed through short covering The
reports disagreement in the ore pool
influenced the decline in the various steel
issues. and the weakness in these stocks
was sympathetically communicated to the
remainder of the list. There is nothing in
| the situation TO warrant more than tempo
! rary Improvement that may result from
short covering whenever the market be-
comes oversold.
| &c. f. Braulik & Col
NEW YORK. April 20.-To-days stock
market was one of specialties alone, the
honors being about evenly divided between
| Consolidated Gas and Steel preferred The
| former started to boom right from the tan
of the bell. while the latter went directly
the opposite. 1t was a case of running in
! the shorts in Gas and liquidation by small;
bulls in Steel preferred. The fractions were
notably frmer. so was Delaware & Hud-
son. Union Pacific and Southern Pacific
were weakest carly. notwithstanding Lon
don was a heavy purchaser of both The
average railway stocks were neglected
! Taking the market whole. tx was :,
very quiet affair, except in the above men,
toned issues, which contributed the bulk of
the transa ctions well up until the last hour
T. when the general list sagged off and closed
irregular, with the industrials the weak
! sisters. while the balance of the list looks
! still lower to On any further dip to-
/ morrow We think purchases can be made