The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-09-17
Prices Move Upward from the Open
ing and Close strong Mt the Top
Level for the Day.
ST. PAUL IS MOST AGGRESSIVE
PERIODS OF LIQUIDATION IGNORED
BY THE SPECTATORS.
Financial Conditions Are More Fa-
vorabIe as the Result OF Bond
and interest Payments.

NEW YORK, Sept ia rampant bull
stock market on the first day of trading
following the death by assassination of the
President Of the United States is an anon
ally Boldly stated. that is what occurred
to-day. No one, even the most sanguine,
was prepared for the action of to-day's
stock market. Much had been heard on
Saturday, and has been published since, of
the length to which the lamentable outcome
Of the Presidents hurt had already been
discounted in the operations of last week.
and especially those of Friday. In part
these assertions were made with view to
influencing speculative sentiment and keep
ing up the courage of those who feared
collapse in the market. Those who made
the assertions, sincerely probably, had no
idea of the extent to which the recuperative
forces in the market would be affected, but
supposed merely that Generalization would
be checked and the market be able to resist
violent losses. Confidence was felt, in fact
that the purely speculative pressure on the
market would be successfully overcome
owing to the extent to which speculative
selling had already gone, and to the ample
preparations and concerted measures
adopted by the clearing house banks and
great capitalists to protect the money mar
ket and resist declines N the stock market.
| The portion of the problem remaining TO
| be solved was the effect which would be
produced upon business sentiment in gen.
eral throughout the country and among the
substantial investment holders of securities.
| The day : events seemed to demonstrate a
! strong underlying confidence in the future
| of business and the continuance of the
country's prosperity. Powerful manipula-
! ton avowedly had its part in the day S rise
| IN prices, especially the opening, which was
| designed to intimidate the speculative bear
/ element. 1t not only had that effect, but
| caused scramble TO cover on the part of
uncovered shorts, who looked for a further
decline. There also was an abutment of
/ orders to buy at prices below the market
| on the part of investors and bargain hunt
erS, which served as a protection against
| bear aggression. There was a considerable
element as well which looked for an open
| ing break in prices and hoped to secure
| bargains by placing orders TO buy at the
1 market AS the event proved the opening
/ market was from to points higher than
\ on Friday afternoon. There was a lack of
| confidence in the early strength of the
! market and there We're many realizing
| movements during the day, but the alb
! sorptive power of the buying proved equal
| to all Of these, and with a steady uplift the
! trading closed active and firm at about the
/ top level of the day.
J The price movement i'm railroad bonds and
! the amount of business done We're not
! large. Total sales at par value We're So
| T73 600. United States new tours advanced
| l per cent. on the last call.
| Following are the days share sales and
| the recorded OTiPp changes