The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-20
FEW SPOTS OF STRENGTH
STOCKS, HOWEVER. SHOW A LARGE
LY INCREASED ACTIVITY.
Special Causes Conducive to the Most
Marked Changes-Special Shipment
of Gold TO BuenOs Ayres.

NEW YORK, Aug. 19.-There were more
shares Of stock sold on the Exchange to-
day than yesterday, the dealings rising
again over the half million share mark.
The market took on fair appearance OF
average strength, but an analysis will show
that the gains in the majority of usually
active stocks are fractional, while the really
striking gains are confined to few spots
In the market. The dealings were largely
in professional hands and were supposed
TO reflect the opening of speculative pools.
including some of the prominent capitalists
Of the country. This situation of affairs
was not materially changed from that of
yesterday and the new demonstration of
strength was based largely on the APP
preaching return to New York of j. z.
Morgan, which has caused a revival of
many long current rumors of financial pro-
jects and railroad deals, which are sup
posed to await his action to be put into
force. The most prominent Of these in its
effect on the speculation is the formulation
of plan for control Of Louisville e. Nash
vile. There seems a fairly general agree
ment that this plan will take the form of
guarantee of a dividend on Louisville &
Nashville. commonly supposed to have been
fixed at per cent. The movement of L.
& n. made itself felt in other Southern
! stocks, notably Illinois Central and Nash
vile, Chattanooga g. St Louis Norfolk
| & Western and c. & O. were also supposed
| 10 derive some benefit from the cause al
though the advance in Pennsylvania and Z.
| & O. pointed to speculation on the soft coal
uaInc. settlement of the coal strike
\ and decision on the question of the pres
/ idency Of the United States Steel Corpora
! ton also supposed to await Mr. Nor
| action. r1 in
! Southern Pacific was aggressively renewed
/ to-day, for the first time since the an
/ nouncement of the proposed 100000 900
! mortgage to provide for betterment. This
movement was also associated with the
| homeWard movement of Well-knOWn
speculative leader who has operated large
| ly in il in the past Canadian Pacific and
| other subsidiary companies form another
| center which radiated strength and the
| gossip to account for the rise points to eff
| forts by that company to secure en-
| trance into Chicago. The strength of Wis
consin Central and of the Chicago Termin-
! al stocks seemed due to the same rumor.
There were various other points of strength
| in the movement, but all seemed equally
due to special causes. The money market
was not appreciably easier although there
| was less tendency TO furry than yester-
day. The rate for call loans was well sus-
| tanned, however, at about 4% per cent. for
the largest part of the loans. The recent
| rapid downward course of foreign eX-
| change was arrested, and there was tend
ency TO recover in that market 1t be-
came known to-day that 100000 in gold
was shipped out of the country yesterday
to Buenos Ayres, supposed to be for the
purpose of moving the crops there. A VIC
| lent break of points in Colorado Fuel fol-
lowed a suggestion that the struggle for
! control of the property might throw il in
the hands of a receiver. The stock rallied
31. The market closed dull and irregular
Liquidation in Central Of Georgia income
bonds continued, and made the bond
market irregular. Total sales at par value
were $l,S20OO0. United States bonds were
all unchanged on the last call.
Following are the days share sales and
the recorded price changes: