The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-11-08
DIVERSIFIED AND ACTIVE
THURSDAYS SHARE MARKET BROAD
y IN GOOD VOLUME.
Liquidation at the Close Cut Down the
Gains-Strength of the Steel Stocks
Monetary Conditions.

NEW YORK, Nov. 7.-To-day's stock
market was much broader and more di-
versifed than that of yesterday. and the
aggregate dealings rose well above yes
terday to near a million and a quarter
shares. There was enormous realizing in
the stocks which led the advance yester-
day, especially in Union Pacific and st.
Paul., which ruled below yesterdays closing
level practically all day, falling at one
time is for St. Paul and rs for Union
Pacific. The heaviness of Northern Pacific
preferred. which fell rs on comparatively
light transactions. taken in connection with
the reaction in the two stocks previously
named, it would be supposed might indi-
cate doubt as to the Northern Pacific set
tlement, the more so as no authorized
statement Of the terms Of the settlement or
even of its actual consummation can be
had from any source. The conviction,
however, remains strong in speculative cir
cles that the agreement is in fact per-
fected. The forcing to cover of the bear
interest in some of the specialties recently
under pressure was an important influence
in the advance, conspicuously so in Anal
gamated Copper, Sugar and Peoples Gas.
Among the transcontinenta stocks the
dAOAlC OOllAll4uGu ii duNdnCG Viii
any great show Of energy. The common
rose at one time 22s, and Southern Pacific
got IA over yesterday, but lost it all on
the reaction. A gain of 39 in New York
Central was a feature of the market, and
lifted with ii a number of the junior Van
derbilts. Lately current rumors of a pend
ing concentration of the system and in
creased distribution Of profits were revived
In connection with the movement. The
statement of October earnings for New
1ork Central, showing an increase of IL
per cent. over those OF last October, was
also an influence A number of statements
OF gross earnings for the fourth week in
October emphasized the impression caused
by yesterdays statements. The coal-car-
rying roads, both in hard and soft coal ter
rltory, were in notable demand and show
gains OF / TO 2 points. The United States
Steel stocks developed strength at gains of
a point for the common and l& for the
preferred on glowing accounts of the ac-
tlVlty In the trade. The movement to
realize became very general before the
close, and the advances were curtailed in
all points and entirely wiped out in a few
cases. The payments of the subtreasury in
redemption of bonds and for the deposit of
Australian and Klondike gold AT Pacific
coast points are so far offsetting the drain
on other accounts that the money question
Is Kept in allegiance. The very substantial
recuperation for the week disclosed by the
Bank OF France also served to relieve ap-
prehension over money affairs, as Paris has
Deen the center of attraction working to-
ward depletion of gold supplies at other
points. The market closed easy under the
influence of realizing.
The railroad bond market was very ac-
tive, but the reaction in Union Pacific con-
Vertlble bonds made an otherwise strong
market Irregular. Total sales at par value
were S6,SlO,O00. United States bonds were all
unchanged on the last call. Following are
changes: