The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-06-05
SALES TO TAKE PROFITS
A DEPRESSING FEATURE IN TUES
DAYS SECURITIES MARKET.
Early Weakness Followed by n Brief
Adyancc-Bast Prices Below the
Best on n General Reaction.

NEW YORK. June 4.-The upward course
of prices received a decided check to-day.
After the strong opening. in continuation
of yesterdays strength, the market, with
very few exceptions, turned weak. There
pretty general rally in the afternoon,
under the leadership of a few strong stocks,
but before the close there were some
ragged breaks in prices again, and the
close was decidedly irregular and unset
tied. with only a few stocks near the top
level. The acute weakness of Sugar was
a determining influence in the early deal
ings. Yesterdays rumors of an increase
in the dividend on this stock were pretty
generally discredited, and there was be-
sides an explicit denial of statement put
out yesterday that litigation with the COM
pany's principal competitor had been set
tied. The principal selling had been eff
fected before the actual announcement
of the unchanged dividend. and there was
some recovery later in the day, in SYM
pathy with the general strength of the
market. The stocks extreme decline was
65s. Reports of cut in the Southwest
gave rise TO the cross-speculation usual
at this period of the year TO bull wheat
and 10 bear the grain-carrying railroads
The effects of this were particularly mani
fest in St. Paul and the Southwesterns
The decline in Union Pacific reached ga
and in St. Paul 29s. Reports of a falling
off in new orders received in the iron
trade. although actual consumtion is re-
ported TO be still running close to produc-
ton, awakened "reminiscences of last year S
collapse in the steel securities. There was
besides very heavy selling by professional
forS m ia 20
rise. London joining in the selling and re-
versing its position of yesterday. The iden-
tity of the sellers the subject of rather
anxious surmise. The announcement of
the Sugar dividend relieved the market of
a disturbing element, and its recovery set
i'm from that time The markets principal
movements later turned on the various
stories of wide-reaching adjustments In
the railroad world. Allegations that Mis-
souri, Pacific was to be accorded an in
huential interest in Southern Pacific in re-
turn for relinqushing to the Pennsylvania
the Wabash and Lake Erie properties, and
| that Union Pacific was TO have voice IN
| Atchison affairs were factors IN the DuS
| ing Pennsylvania rose an extreme points,
| Southern Pacific a.. and Wheeling a Lake
! Erie stocks TO points. Rock Island
| rose an extreme Sl2. The movement seemed
10 be based on belief in the admission
| of the company to share In the auN dIl.as
| es of the Northern Pacific settlement;
The rise in Ontario Western on It's canal
| acquisition reached AS. General Electric
| advanced Is points on reports or heavy
| earnings The Fries were heavily DouSnt
| inst before the close. Last prices were
| invariably below the best, the final reac-
| ton reaching a point over III some Oh the
| important stocks. The money market was
! moi an influence in the trading. as rates
| continued easy, in spite OF late recov-
| ery i'm sterling exchange TO the gold export
| The bond market was irregular In sym
pathy with stocks. Total sales, at par
| value were So 2S5. 900. United states re-
| funding twos advanced a per cent oh 'h'
| last call. -, IL. -,
Following are the days share sales and
| the closing bid prices: .,,...