The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-08
NO APATHY in STOCKS
LLVELINESS AND UPWARD TEN
DENCY ALL AROUND ON CHANGE.
For Instance, Two transactions Lift
Burlington, Cedar Rapids 81 North
ern Fifteen POints-Dny's Record.

NEW YORK, Aug. There was a
further expansion in the volume Of trad
ing In to-days stock market and the same
kind of irregular strength that was shown
yesterday. There were points of weakness
In spite Of the strength of the most con-
spicuous stocks, and there was a still larger
number Of important stocks that did not
respond to the advance. There were vio-
lent movements in some usually obscure
stocks, and in some that are always active
and prominent the prices fluctuated one
half or a full point between transactions.
1t took only two transactions 10 lift Bur-
lington. Cedar Rapids & Northern fifteen
points, following a twenty-fye-pOint rise
yesterday. This was the result of the an
nouncement by the protective committee
Of the minority stockholders that it had
secured an offer of a high price for the
outstanding minority stock unassenung TO
the plan of exchange with Rock Island.
Other controlled stocks that seemed to be
affected In sympathy We're Nashville, Chat
tanooga & st. Louis. the kanawha &
Michigan and the New York, Chicago &
St Louis stocks. The Hooking Valley
stocks and Louisville & Nashville stocks
moved upwards with almost equal vio-
lence, but with no speculative develop
ment TO explain the movement The rise
In Illinois Central had in its favor excel
lent reports Of gross earnings for July and
net earnings for June. There were large
dealings in various Southern and South
western stocks, but the resulting price
movement was irregular. Missouri Pacific
was under considerable pressure, declining
at one time ia, while Texas & Pacific
on the other hand continued to advance
The large buying OF Southern Railway was
without much effect on the price The
weakness Of Manhattan was attributed to
fears OF strike by engineers and motor
men. Tho rise in Pennsylvania and its SUBJ
sidiary coal carriers was apparently in
sympathy with the Hooking Valley move
nent. National Lead was reported in de-
mand for some large financial interests.
Ihere was not much in the general sitUa-
non on which to base a rise in prices since
the news showed little change in conditions
which continued favorable 10 values The
suDtreasury is absorbing a considerable
sum from the money market, but the pre-
ihlum on New York exchange at Chicago
indicates that the tide of currency is still
moving this way. Foreign exchange is still
nrm, but the very strong return made to-
DAY oy the Bank Of France reflects the
accumulation of resources at that capital
and the unlikelihood of further pressure
from there for gold or for repayment of
loans. London showed announcement over
the evidences of the improved condition of
the King and bought some stocks. The
puoyancy OF few stocks continued TO the
close, which was active and steady
central or Georgia bonds were the only
Ieature or the bond market, which was
Otherwise dull and irregular. Total sales
at par value, S2145,O00. United States threes
decnped "a per cent. on call
Following are the days share sales and
the recorded price changes: