The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-04
SHARP Squirt in STOCKS
LAST FIFTEEN MINUTES OF TRADING
is UNUSUALLY ACTIVE.
Only n Few of the Leading Issues Are
Acknowledgement Conditions of
the Market Are Unchanged.

NEW YORK, April 3.-The granger and
-ranscontinental railroad stocks developed
surprising animation and b~uoyancy within
a few minutes of to-day's closing dealings
in stocks, and were rushed up in a sem
sational manner, which precipitated an
eager scramble among the bears 70 cover,
thus a~ccentuating the rise. Previous to
that time the character of the market had
been much the same as that prevailing
for a long time. There was a rather notable
demand for st. Paul, but not greater than
consistent with the recent tactics of pro-
fessional pools in supporting some one lead
ing stock for effect on the rest of the
market. The general list continues neg
lected and irregular, with obvious profit
taking going on in some of the stocks
which were strongest yesterday or in the
immediate past. The great mass of securi-
ties made no perceptible movement either
way. About midway of the session there
was a fairly comprehensive upward move
ment in the Vanderbilt stocks, which
seemed to be prompted by the persistent
strength of the Chicago &
and Chicago, st. Paul, Minneapolis &
Omaha stocks. The most conspicuous move
ments were in stocks Of minor railroad
companies which might be available for
absorption by larger systems or for COM
bination into competitors with the larger
systems. New points OF strength also were
developed among the small industrials
which are little heard of in the stock mar
ket. in some cases by reason Of the close
ness with which they are held for invest
ment purposes. The demand for Hooking
Valley continued very large, carrying it
up 6 points, the preferred rising ga, Cleve-
land, Lorain & Wheeling 614, Kanawha &
Michigan ga and Ann Arbor preferred 4.
The New York Dock stocks rose about 3
points each. American Telephone and
Telegraph advanced 101h on the reported
large increase in the instruments outstand-
ing. There was a long list of gains running
from a point or more. some of which were
simply recoveries from the depression of
yesterday. At the same time Amalgamated
Copper Colorado Fuel, United States
Leather preferred and the minor steel
stocks were rather acutely depressed by
realizing sales. When st. Paul reached
the latter stages of it's advances it en-
countered blocks of offerings running up to
1000 shares. but rose steadily through them
all to 1895. The stock closed practically
at the top with a gain Of 4 points. Chicago
& Northwestern shot up IA, the preferred
uA; Chicago. st. Paul. Minneapolis Sc
Omaha IL and the preferred 4. 1t was not
until within fifteen minutes of the close
that these movements produced any appre-
ciable effect on the general market. AT
that time the Pacifcs and Southwesterns
generally spurted up from 1 to = points over
last night. Inc market Closed very active
and generally strong, though the response
had not been notable outside of the stocks
mentioned, and some of the specialties con-
tinued to drop. There was no change in the
general conditions affecting the speculative
situation.
The pond market was not very active, but
there was a well-distributed demand. To-
tai sales at par value were $3.50. 600. United
States bonds were all unchanged on the
last call.
Following are the days share sales n
the recorded price changes: