The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-08
TONE is MUCH BETTER
SHARE MARKET BROADER AND
MUCH MORE ACTIVE.
Gains i'm Many Important Securities,
with a Number of Sharp Declines
The Monetary Outlook.

NEW YORK, Feb. THE movement of
pvices in to-day's stock market became
very irregular, but the tone was healthier.
and the breadth and activity in the market
were maintained at yesterdays level. The
professional operators, who largely alb
sorbed the market. operated with consid-
cradle confidence and did not hesitate TO
buy and bid up stocks in new quarters at
the same time as they were taking profits
on their recent purchases in others. Some
Of the closely-held investment stocks,
which have had sensational advances re-
Gently because there we're no shares for
sale even at much higher bids, relapsed
violently to-day on attempts to take
profits, illustrating the narrowness of the
market for this class of stocks. Lacka-
wanna slumped s points on top Of yester-
days loss of nearly 3 points, and North
western dropped 4% without recovery.
Lackawanna, however, rallied 5 points.
The same tendency was shown to a less
degree in a number of other railroad
stocks, which have been unreasonably bid
up of late. There was a very notable pres
sure to realize profits also in Southern Pa
cihc, in which the dealings continued on
a very large scale. Amalgamated Copper
was about the only stock in the list that
showed positive depression. Its loss at
one time extended to 219, but this was re-
duced by a rally to rs. The principal fac
tor of strength was Illinois Central, which
advanced an extreme 3z on a volume of
dealings very unusual in that rather close
ly-held security. The advance had no other
explanation than the relatively low price
of the stock compared with other stocks
CiDoilarlU cifnafn6 nnd no NinU nnlW q G Ora1f
or even smaller dividends. The advance
brought out various old rumors of absorp-
ton of minor systems. and the stocks of
many railroads which could b. any posi-
bility be available for merging with Illi-
nois Central were advanced sharply. The
favorable showing of the great .co~rn-carry-
ing raliroads Tor DeceinpeT' as IN the cases
of Burlington and Rock Island, also helped
to strengthen this class. There was an
energetic buying movement late In the day
in Atchison, which seemed TO be based up
on the fact that the movement in the stock
this week has not been commensurate with
that in others. There was an upward rush
in Metropolitan Street-railway which car
ried it 2s over last night, and a similar
movement OF more than 2 points in Sugar,
but neither of these was maintained.
Brooklyn Transit rose more than a point.
Late in the day Manhattan was raided
down 2 points on the news of an upfavor-
able court decision against the company,
and this made the closing of the market
unsettled. Little attention was paid to
estimates of the bank statement after the
tone of the money market continued easy.
1t appears, however, that the net receipts
in the interior movement are more than
a million less than last week, so that the
loss on the gold exports remains uncan-
celed by a margin of over 100000. 1t also
is generally expected that the loans will
be largely increased.
The bond market was quite active, but
irregular. Total sales at par value were
1850, 600. United states old tours advanced
"a on the last call.
Following are the days share sales and
the recorded price changes: