The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-06-04
STOCKS MORE BU0YANT
DAY CLOSES WITH NET GAINS GEN
ERALLY ESTABLISHED.
Considerable Realizing Goes on Under
Cover of Bull Manipulation-Bet-
ter Money Market Outlook.

NEW YORK, June 3-Speculation in
stocks was again animated to-day and the
dealings showed a substantial expansion
over Friday. Both in character and vol
ume of trading the market bore close
sernblance 10 that in the boom period.
Strenuous efforts were put forward by pow
erful financial interests to give it that APP
pearance, There was an increasing inter
est or the part of the outside public,
demonstrated through the commission
house orders executed in the market, but
the market still continued for the most
part in the hands of professional operators
and the larger speculative interests. Much
Of the buying is predicated on the
fident assumption that the powerful
financial interests of the country have
reached a determination. by tacit agree
ment, to advance prices to higher level
again and TO attempt to renew the specu-
lative conditions prevailing before the up
set in the second week in May. Buyers of
last week were heavy sellers to take profits
to-day. and this selling caused a very gen.
eral reaction after the opening advance,
which was fairly common TO the whole list.
Some of the stocks which were most con-
spicuous in the opening advance did not do
ings. Others continued to advance. while
still others. which were strong early last
week and then reacted. renewed their
strength in the late dealings. After the
first general reaction the policy was
adopted of advancing first and then
another stock i'm sequence. Realizing was
continuous under cover of these move
ments, but the net results OF the days trad
ing was a substantially higher level OF
prices. at the close. after d day of great
activity and variety. The steel stocks were
conspicuously under pressure of realizing
after the opening rise. and closed on the
down. grade, with only fractional net gains.
Very conspicuous strength was shown by
st. Paul, Union Pacific, Southern Pacific.
Missouri Pacific. and, in the final dealings,
the Readings and Fries. There was a de-
velopment of great speculative activity in
Sugar. which carried that stock up an ex-
IRENE 8 points. Amalgamated Copper
gained 3ls. The Tobacco stocks. Colorado
Fuel, Consolidated Gas General Electric
and Pacific Mail rose from to 4$a. Sugar
was affected by the renewed conviction
that an understanding exists between COM
peting interests. In the market at large
that was little specific news to account for
the activity and strength. Northern Pacitic
stock sold at $50. and at the closing was 100
bid and 1S0 asked Only loo shares were
dealt in. One OF the rumors current was
that Northern Pacific stocks would be ex-
changed for bonds to be Jointly guaranteed
by Union Pacific. st. Paul. Great Northern
and Chicago az Northwestern. The specu-
lation was based on general considera tons
such as that time had demonstrated that
the stoc6 market panic had effected no i'm
pairment of the prosperous business con-
ditions. so that with speculative losses ad-
justed. a renewed advance was in order
The unimpaired earning power Of proper
ties and the renewed accumulation of CAPT
tai, IL Is argued. point to renewed demand
for securities An easier tone in the ex-
change market indicated less proba bility
OF gold exports this week
Bonds were active and strong i'm sympa-
thy With stocks. Total sales, at par value
were 81. 10000. United States bonds were
all unchanged on the last call.
Following are the days share sales and
the closing bid prices: