The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-10-30
GOLD is GOING ABROAD
TWO ENGAGEMENTS MADE FOR
THURSDAY OF THIS WEEK.
announcement Checks an Early Adj
vance i'm Professionalism Adj
vance i'm Michigan Central.

NEW YORK, Oct. 2.-The professed
anxieties felt by the professional opera
tors in stocks yesterday seemed to be con-
siderably relieved to-day. Their profession
al brethren OF bullish tendency added the
incentive of lively bidding up here and
there. AS a consequence a considerable de-
mand to cover short contracts made the
market strong during the early part Of
the day. 1t was argued that with the easier
tone of exchange and the moderate views
expressed as to gold requirements by the
Bank of France, the probability Of an out
go of gold on Thursday of this week was
considerably lessened. The announcement
just before the close of the market Of an
engagement of $500. 600 in gold for shipment
on Thursday precipitated a sharp realizing
movement and wiped out a good part of
the earlier advances. Another S2.OOO,OO en-
gagement was announced after the close.
1t was very notable hat the stocks that
were weakest yesterday were foremost as
a rule in the recovery to-day. The recovery
did not reach to the full extent of yester-
days losses at any time. The upward re-
action was achieved also on a considerably
smaller volume of business. There was an
expectation this morning, among the small
spectators at least, that formal announce
men might be made during the day of an
adjustment of the Northern Pacific diff
Guilty. This expectation was again disap-
pointed. Among the days special move
ments the sensational rise in Michigan Gen.
tral revived the rumors Of coming develop
ments In the Vanderbilt group and was re-
1ected In sharp advances in other members
or the group. Michigan Central sold yes
terday at I16, an advance of several points
over the preceding sale in last March. To-
ceSSlYeIy at lis, 40, lbs. 135 and 40, after
which it relapsed TO 100. No explanation
was forthcoming of the movement. Anal
gamated Copper was influenced by the sup
position that developments are pending
which will benefit the conditions in the
trade. There was some support also for
the United States Steel stocks, accom-
panied by reports of great activity in that
industry. Brokers credited with acting for
insiders both in United States Steel and
Amalgamated Copper bought their re-
spect1ve stocks together to-day. In consO-
nance with the upward movement of prices
the prevalent view OF the money outlook
was less pessimistic, although conditions
In that market remain the same. A number
OF favorable conditions which were ignored
In the selling movement came in for con-
sheraton, especially the continued trade
activity as reflected in the large bank clear
ngS throughout the country, and sustained
interest in railroad arnings Reports to-
day of September net earnings showed
large increases over September of last year
Tor some of the most important systems.
railroad bonds moved narrowly and were
Irregular. Total sales at par value were
$~1,S75,OOO. United States new tours declined
IA per cent.
Following are the days share sales and
the recorded price changeS: