The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-06
DULL AND NARROW TRADE
ONLY A FEW sPAsMODIC MOVEMENTS
IN NEW YORK STOCKS.
These Were Mostly in High-Prieed
Securities-RunrOrs OF a Big
Traction consolidation.

NEW YORK, Feb. 5.-To-day's stock mar
ket was a dull affair again in spite Of spas
modic efforts by professional traders and
speculative pools 10 awaken a general
movement IN the market. BY the time they
succeeded in moving prices at one point
depression would develop in another. and
in consequence the dull movement was
irregular all day. Striking movements in
closely held high-priced investment stocks
continued a feature. The significance Of
these movements was not disclosed, al
though traders sought to make the most Of
them for their sympathetic effect on the
general list. Among the stocks so moving
were the Chicago & Northwesterns, Ameri-
can Express, United States Express and
Lackawanna. Nashville. Chattanooga & St.
Louis, which advanced 1O1z yesterday, re-
acted 35 to-day, but closed with a net loss
Of only 2. The recent sensational upward
movement in is associated
with the rumors of control OF that road in
the interest of an outlet for the Wabash
Railway system. The Wabash stocks were
very firm to-day in the same connection.
Another center of speculative interest is
the local traction stocks under the infu-
ence of published reports from Philadel-
phia of the formation of a securities COM
pany to hold Metropolitan Street-railway
stocks and possibly other local traction
companies. Manhattan was the most active
of this group, and Metropolitan Street-rail-
way after an upward squirt Of IA declined
on profit taking. falling ia below last night
during the day and pulling the other local
fractions down with 1t. The speculation
in Amalgamated Copper was very feverish,
the price running off 1ss during the morn
ing on the further break in the London
copper market and the slump in Rio Tintos.
The Steadying of the London copper mar
ket and reports Of a panic among the bears
IN RIO T1ntos rallied A"malganated to rs
over last night, and IL was an effective
factor in the late rally in the New York
stock market. The speculative pool operat-
ing the Southern Pacific took that stock
vigorously in hand and pushed it up Ia
on very large buying. The general market
rallied with some vigor in sympathy, ST
Paul rising 2 points over last night and
a number of other transcontinentals about
a point. United States Steel also developed
some strength just at the close. Other
features OF strength were the Toledo, St
Louis * Western stocks and the junior
NanderbiltS on rumors of absorption OF
the former by Vanderbilt interests. Mime.
apolis, St. Paul 81 Sault Ste. Marie pre-.
feIred added Az more points to it's upward
course. The recent buying of Sugar con.
unued, but its net gain was only a frac-
ton. There was no general influenc eff.
fective in the market at any time beyond
the disposition TO dullneSS caused by the
export movement of gold and the unsettled
question OF the Northern Securities Com.
pany case.
The bond market was only moderately
active, but was inclined to be firm. Tota
sales at par value were 81, CO.,. United
States refpnding twos advanced Is per cent
on the last call,
Following are the days share sales ana
the recorded price changes: