The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-21
CENTER OF THE STAGE
MANHATTAN OCCUPIED 1T To ExCLU-
SION OF MUCH ELSE.
Good Gain Made ON Very Heavy Deal
ings-Mixed Changes in General List
Money Market Outlook,

NEW YORK, Nov. 2O.-Exeept for few
irregular and comparatively unimportant
moves to-day's stock market was very ike
that of the preceding days of this week IN
the sense that attention was focused very
largely on one Decentralization. The IN
creased strength of that stock added 10 the
fast growing belief that important events
dealing with the local transportation sys-
tenn are impending Just what form these
probable events will take is still matter
of guess work Manhattan sold up TO l5iS4
and made a net gain of 319 points on very
heavy transactions. The remainder OF the
list irregular for the greater part of the
day, made some Improvement in the final
hour and the close was easy. though below
the best.
Considerable strength was shown by the
Gould stocks as a group at various times.
and there were spasmodic rallies elsewhere.
The early strength of Sugar was reported
to be due largely to short covering and the
further gains in the new Rock Island Is
sues resulted from what appeared to be in
side buying. Fractional losses were re-
corded in the early dealings by all the coal
stocks, as well as by the more active in
dustrials. while the international group
hardening somewhat later. The early re-
action was followed by substantial recov-
cries in ST. Paul. Iowa Central Minneapo-
lis & st. Louis, Louisville & Nashville. Hi.
nois Central and Texas Pacific, while
Missouri Pacific was conspicuously strong
So obviously professional were operations
at this time, however. that another reac-
| ton set in, with material declines In some
| OF the issues named. l.. & n. breaking
sharply. Union Pacific and Southern Pa
| cific were then inclined to heaviness and
| Manhattan sagged in the absence of con-
| firmatory news. Metropolitan and Brook
| Ign Transit sold off to the previous days
| eral selling movement, the bear element
showing some timidity. The further adj
vance of Manhattan in the afternoon slim
ulated the rest OF the list, and good" buy
| ing of Amalgamated Copper was reported.
| The demand for stock came chiefly from
the shorts and was confined largely to
| Copper, Sugar, Reading, New York Central
| and Manhattan. Advices from London re-
| ported very bearish feeling there and
sales for that account amounted to about
$4,000 shares. with little buying In return:
Amsterdam and other European financial
| centers also sold this market moderately.
| Time money conditions. while no more
| acute than they have been recently, con-
| tinue to excite some apprehension. The
demand to-day was moderate, but lenders
| were still holding off for a stif rate. Call
| money was easy and again in light request.
| There was practically no change in the
| foreign exchange situation. A small trans
| fer to New Orleans was made by the local
| banks to the subtreasury. AS compared
| with last week the banks have lost only a
| nominal sum to the subtreasury.
| The bond market was much quieter and
| fluctuations were slight either way. Total
| sales at par value were 81, $4,000. United
| States bonds were all unchanged on the
| last call,
Following are the days share sales and
| the recorded price changes: