The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-05
in A STATE OF LETHARGY
STOCK MARKET EXTREMELY DULL,
EXCEPT IN SPOTS.
These Were Due to Special Causes
Prices Generally Lower, with n
Few ExceptiOns-GOld Exports.

NEW YORK. Feb. 4-There was an at
tempt on the part of an element Of profess
sional operators to awaken some specu-
lative interest in the market this morning,
but the general disposition was to acqui-
esce in dullness and neglect after yester-
days disappointment of the expectation
Of a decision in the Northern Securities
case. 1t is the general opinion of the
financial district that any pronounced ac-
tivity must await the delayed decision in
this case or some striking new develop
ment in general conditions. The profess
sional element which attempted 20 contest
this obvious tendency this morning was
making modest progress when the an
nouncement came of engagements of gold
for export on Thursday TO the amount Of
So, 1900 The market then Immediately
fattened out, the greater part of the gains
being lost, and was neglected and lethargic
for the rest of the day. The days small
business was largely congested in Amalga-
mated Copper. Southern Pacific. Sugar and
Metropolitan Street Railway. The dealings
otherwise, even, in the ranscontinental and
Pacific railroads and in United States
Steel, were OF quite insignificant proper
SEf 1A50AA0AC0 OORFCA was car OA
the sharp break in the London copper mar
ket and on the first reaction for copper in
the local metal market since the market
turned upward. The strength Of Sugar
was based on the recent stock argument
OF a probable remission of Cuban sugar
duties. Tn operations in Southern Pacific
were largely in the hands of the specula-
tive pool in the stock. Metropolitan Street
Railway recovered sharply from yester-
days depression on the assurance from w.
{. Whitney that his coming retirement
from business would not involve the liqui-
dation of his holdings. There were some
wide movements among less prominent
stocks. Lackawanna rose 3A points higher
than yesterdays high point, but reacted 4
points to 295. Nashville, Chattanooga * St.
Louis advanced 1919 points on light trans
actions and without explanation. The Min
neapolis, St. Paul & Sault Ste. Marie stocks
rose 4 and o, respectively, for the common
and preferred, but saved net gains of only
"a and ga. American Express and United
states Express made sharp gains. The en-
of gold for export had only a
slightly hardening influence on the money
market, but the doubt as to the extent to
which the movement may reach caused
some uneasiness over the outlook. II is
believed that last weeks large loan expan-
sion represented the shifting of obligations
due to foreign creditors to the local banks
and that the gold out-go j. in payment Of
loans. The declaration Of a 20 per cent.
dividend on Standard Oil. the same as for
the first quarter of last year and the year
before, was regarded as of some sig
niticance, as IL was feared that the recent
fall in the price OF oil would lead to a re-
duction Of the dividend. The market closed
dull and heavy, the tone being somewhat
accumulated by the report of the rejection
Of peace overtures by the British govern
ment.
Business in bonds was quite we'll dis
tributed. Total sales, at par value, were
$3,520,0O0. United States old fours advanced
"a on the last call.
Following are the days share sales and
the recorded price changes: