The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-20
Big BURDEN OF SELLING
LONDON ALONE SAID TO HAVE DIS
POSED OF 100000 SHARES.
Western Holders Also Sold, and Prices
Closed ut the Lowest-Good Bank
Statement Expected.

NEW YORK, July 19.-The character OF
to-days stock market was much the same
as that of yesterday. but there was a con-
spicuous absence of the late enormous de-
mand which lifted Union Pacific yesterday
in the closing dealings. The volume of
transactions was rather larger than yester-
day, but the market was highly profess
sional Much liquidation had to be alb
sorbed by those who had set themselves
10 the task of supporting the market, and
the burden seemed to be too heavy to carry.
Prices broke through lack of support in the
late dealings and the market closed weak
al the lowest of the day. Even these stocks
which had shown strength during the day
had very little left to show in the way of
gains, and the stocks which were conspicu-
Gus for strength yesterday were conspicu-
ously weak. The stocks selected as props
for the market to-day seemed to be prin-
cipally among the Southern railroads and
the Gould Southwesterns. Included with
the latter were Western Union and Manhat-
tan. Texas & Pacific was time
points over last night, and there was large
buying in Missouri Pacific. United States
Steel seemed to be we'll under control by
insiders, and the stocks were marked up
sharply over point each during the period
Of strength in the market The sustaining
force of these advances, however.
steadily taken advantage of to realize in
the railroad list. Union Pacific st. Paul
and Atchison were the most conspicuous
objects of the selling. Southern Pacific
at one time broke away from the group
and was marked up to 591s, apparently in
pursuance of the design of supporting the
he
proved only moderately successful In the
late reaction the decline in ST. Paul ex-
tended to 35s, Union Pacific 5l1 Atchison
S1s, Missouri Pacific 3is and Southern Pa
cifc Sss. Much of the selling seemed to be
prompted by the renewed fears of disaster
TO the corn crop, the same motive being
at work in the corn market. The selling
for Western account was very large and
was attributed to important interests. The
selling for London account was another
important factor in the days market 1t
was most conspicuous in the United States
Steel stocks, but extended to others of the
internationally listed stocks. The days
total sales for that account were estimated
at as high as 100000 shares. This develop
ment was factor of firmness in sterling
exchange In New York and the easier tone
OF money in London. The seeming disin-
clination 10 continue the support of the
market by the group of capitalists to whom
SPECTATORS nave Deen looking Tor tndt pur-
pose emphasized the disposition to sell. The
weeks movement of money to and from the
| interior give promise of a strong bank
statement The weeks large disburse-
ments for pensions. payments on account Of
gold deposited with the government at Pa
cihc coast points and some large expendi-
lures by the government on other accounts
have resulted in gain from the subtreas-
ury OF So. 720, 600. The express movement of
cash TO and from the interior is estimated
to have netted 10 the banks as much or
in hA lNnr1
lematical..
The bond market was moderately active
and irregular. Total sales at par value
were s2500,000. United States bonds were
unchanged on the last call.
Following are the days share sales and
the closing bid prices: