The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-05
SHARES STRONG in SPOTS
STOCK MARKET TAKES on CONsID-
ERABLE MORE ACTIVITY.
General Tendency Also Is Upward, Ex-
cept I'm the Great Combinations
Better Monetary Situation.

NEW YORK, Dec. 4-The stock market
opened with a firm tone to-day and gath
cred considerable strength during the prog
ress of the day. The rise did not embrace
the entire list. however, and the excep-.
tions to the strength were among the very
prominent stocks. One stock or group OF
stocks and then another were taken up and
lifted in price. The dealings In these active
stocks were on a very large scale. but the
aggregate of the days transactions indi-
Gates that the market was not very broad.
The general sentiment in the speculative
community was one of satisfaction over the
contents of the Presidents message and
over the tone of the comment upon that
document in the press The Recommended
lions OF the secretary of the treasury look
ing to the reform of the banking currency
were also viewed with satisfaction in the
financial district The steadier tone of
Amalgamated Copper removed an extremely
disturbing influence and was a potent fac
tor, though negative one, in the strength
of the market. The trading continued to
reflect hesitation while the course of this
stock continued erratic. but when the firm
support at last nights level was perceived
the general tone OF the market became de-
cidedly more confident. The fact that no
engagements Of gold were made for export
tomorrow served TO relieve some apprehen-
sion that the money supplies would grow
stringent by drain to that quarter. The
banks have lost to the subtreasury already
upwards OF $5,000,O00 this week, including
the payments for the gold exported on
Tuesday. The expected drafts for nearly
100000 OF Australian gold, of which the
subtreasury was notified over week ago,
have not yet been presented. Application
already has been made for the withdrawal
or $5,OOO,OO0 OF government bonds on deposit
10 secure national bank circulation, which
IS the maximum allowed for the month. 1t
EVIDENTLY Is intended to offer these bonds
Tor redemption The monthly statement of
the money In circulation in the country by
the Treasury Department shows an increase
OF nearly S5,OOOO00 during November in spite
or the $lS.OOOOO of gold exports and a slight
decrease in the national bank circula ton
Anxiety over the money outlook was, there
fore, not in evidence to-day in spite of a
deposit at the subtreasury for transfer to
New Orleans of $350,000. The most notable
points OF strength In the days market were
among the Gould stocks, led by Manhattan,
which rose an extreme IA. This stock
served as a leader also OF the striking
gains In the local traction group. New
York Central was conspicuously strong, as
was Pennsylvania. General Electric rose
81. There were many gains of TO points
In thu Southwesterns, Grand Trunk, coal
ers and induStrials. Notwithstanding the
satisfaction professed over the trust
transcontinental stocks and United States
Steel were laggards in the advance. Great
Northern preferred lost ~ and Northwest
ern SIS, with rally of 3.
Speculative bonds were strong, but there
was irregularity in the general list. Total
States refunding twos advanced 4 and the
threeS, registered, r.
Following are the days share sales and
the recorded price changes: