The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-06
PROFESSIONALISM HIGHER
BETTER MONETARY CONDITIONS
CAUSE SPECULATIVE CONFIDENCE.
Market Is Still Dull, but n Number of
Important stocks Are Higher on
an Improved Demand.

NEW YORK, March 5.-Speculative SEN
timent was somewhat treasured to-day
over the money outlook, and the rather
acute weakness with which the trading
ended last night was overcome after a
time. 1t was in evidence during the morn
ing, but the market gradually settled back
into its recent condition of dullness and
spottiness, the specialties again coming TO
the front There were some fairly sensa-
tional gains here which served to keep the
undertone of the narrow market steady.
The money market failed to show the sud
den contraction of supplies which was
dreaded yesterday a result of the un-
expectedly heavy demands converged on
the New York market. The calling of sub
scriptions to the San Francisco traction
merger proved a relieving force 10 some
degree instead OF aggravating the striII-
gency, as had been feared. This was due
to the fact that foreigners are subscribers
to the syndicate and their remittances to
New York in response TO the call relaxed
somewhat the foreign demand for gold.
No further actual engagements of gold
were made to-day, and not all the gold
that was expected was packed for to-mor-
rows steamer. Ii is not a forced SUPPOSE
ton, also, that the $1,0c00 600 block of gov
eminent bonds offered for redemption yes
terday was preconcerted a set-off to the
gold to be deposited at the subtreasury
for telegraphic transfer to San Francisco.
The movement to San Francisco has some
puzzling features about il, and the applica-
tions to the Washington authorities for
permission 10 transfer $50 00000 to $50, 900 900
to San Francisco arouse surmisss as to
other possible demands. Money in London
was appreciably easier, and sterling at
Paris rose a fraction. Both of these move
mentS are an index OF relaxed pressure for
gold on New York. The question of fur
Their exports this week beyond the ship
ment of $1,5O0OO by tO-morrow's steamer
and the s., 10000 engaged for Saturday 5
steamer is, therefore, an open one. The
absence of apprehended stringency in the
money market was supplemented by some
good returns Of gross earnings for rail-
roads for the fourth week of February and
by confident assurances that there was no
cause for fear of labor troubles in the an
thracite coal fields. OF the days special
ties Colorado Southern again became con-
spicuous on an enormous demand with re-
vival of rumors of buying for control. The
advance in Chicago d Northwestern was
on unusually large dealings for that close
ly-held stock, and was without specific ex-
PLANTATION. The death of Leonard Lewisohn
induced some selling of Amalgamated Cop
per, but the stock found support. Missouri
Pacific was under some pressure, but raj
lied with the rest of the market and closed
with small net gain The United States
Steel stocks maintained their inertness and
moved within a fractional range. There
were wide movements in a number of less
important stocks which were without ex-
PLANTATION. Realizing made some inroads on
best prices and the close was dull and ir-
regular, but with substantial net gains re-
naming.
There was no marked activity in the bond
market, and the movement of prices there
was somewhat irregular. Total sales AZ
par value were $2,926,O50. United States
twOs advanced "a per cent. on the last call
Following are the days share sales and
the recorded price changes: