The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-08-07
TONE in STOCKS
LARGER BUSINESS AT A GENERALLY
HIGHER PRICE RANGE
Considerable support for the Grain
Carrying ROads-Easier Money
Market Conditions.

JEW YORK. Aug. 6.-General conditions.
independent of the strike situation. received
more consideration to-day than for some
time, and were reflected In higher prices for
securities. The absence during the greater
part OF the day OF any sensational strike
news. combined with the support which the
United States Steel stocks received after
their opening weakness, also aided the i'm
provement. These conditions underwent a
radical change in the final dealings, when
a report was current that orders for a
general strike OF the steel workers would
be issued tonight. The professional oper-
ators promptly put out large short lines and
brought about declines of 1 to about 3 points
In the most prominent stocks. The market
showed a pretty steady Improvement from
the outset. The occasional setbacks, which
were forced by realizations, were quickly
overcome by a good demand for both &C
counts and evidence of inside support. Lon
don's attitude was regarded with some in
terest, but arbitIage operations proved
small and were without influence. News
from the crop regions was more encourag-
ing and was supplemented by the weekly
government crop report, which indicated
improved conditions at important points.
The outlook for "a large crop OF spring and
winter wheat, in addition 10 some excep-
tional railroad earnings. also helped to sus-
tain prices. OF the latter Southern Rail-
way and Missouri Pacific systems showed
increases of Sil3.y52 and $212, go, respectively,
for the fourth week in July. The gain for
the month of July in gross earnings by the
Great Northern of S415, $50 indicated the
volume OF wheat which is now being moved
TO the seaboard to meet the heavy export
demand, and the higher price OF the cereal
to-day prompted a better demand for the
wheat-carrying reads. St. Paul led this
division with a gain at one time of 2os,
touching 1875. On the other hand, Atchl-
son Spurted up almost as much when corn
displayed continued heaviness. Support
was noticeable for stocks which were eSpe-
cialy weak yesterday, these including the
Eastern trunk lines, Southwesterns, trac-
tons and Paciics. where improvements had
been made OF from l to 3l2 points. Sugar
felt an early resumption of yesterdays
weakness, but, after losing a point, sold up
duced during the late selling movement
and net gains were limited 10 fractions.
Trading In the steel stocks was compare
lively light, and there were not many large
dealt in at the opening at a gain Of "a. The
stock soon yielded Is below yesterdays
close, but later on got Is above, and end
ed unchanged for the gay. Pressure was
noted against the preferred right from the
start. but after yielding IS it got Is above
yesterdays final figures and ended with a
loss OF IS. Money rates ruled easy to-day.
and the chief feature of this department
was the debit of 81. 1892, 1yS by the subtreas-
ury at the clearing house this morning on
account of drafts drawn against gold de-
posted at Pacific coast points, en- route
from the klondike. Foreign exchange rates
were firm. The closing of the stock mar
ket was weak, with business in increased
volume.
Railroad bonds were quiet and the price
movement was irregular. Total sales. at
par value. were S1,075.00 DOC United States
bonds were all unchanged on the last call.
Following are the days share sales and
the closing bid prices: