The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-20
WIDE PRICE MOVEMENTS
ERRATIC FLUCTUATIONS IN THE UsU-
ALLY DORMANT STOCKS.
Trade Very Dull i'm the Standard Is
sues-MOney Market Again shows
n Hardening Tendency.

NEW YORK. March BIT is not often
that the stock market witnesses such a
series of spectacular and sensational move
ments as it was treated TO to-day. and in
a rather dull market at that. In fact, the
dullness in the general list was extreme
and prices of the important railroad stocks
moved only with the utmost reluctance. The
usual favorites among the industriais had a
large snare in the trading. both Amalga-
mated Copper and Sugar occupying fairly
-pre-eminent places. But it was among the
stocks which are traded in only at inter-
walls of weeks as q rule that the speculation
was fierce and the price violent.
There was nothing in the way of news TO
explain why buying orders for 1850 shares
Of Colorado Fuel should make a wide open
ing in that stock all the way from par to
107. compared with 9S last night. Neither
the high point of this range nor the low
point was touched again during the day,
but the dealings continued very heavy and
the fluctuations feverish. Activity was re-
vived iE New York Air Brake with a jump
Of i0A in price and a subsequent relapse
of fully half that. North American suffered
from realizing after the opening advance.
but forged upward again to Ga above last
night and fuctuated wildly. The rise of So
in General Electric and 8 in Westinghouse
Electric were due to rumors Of consolida-
ton, but both of these reacted sharply.
American Ice r%ebounded 2s from it's recent
violent decline. In the railroad list Chica-
go, Indianapolis & Louisville was rushed up
AZ on distinctly formulated rumors that it
was TO be placed on a 4 per cent. dividend
basis. Late in the day st. Louis & San
Francisco sprang into activity and strength
with an advance of nearly 4 points, due to
published reports that the company conten-
plated an extension TO the Pacific coast.
There was some late strength also in Atchi-
son., which was practically the only rail-
road stock in the list of first Importance
which moved as much as a point. There
was considerable demand, however, for Il.
q o.. The rise of Pa in Sugar was due to
the agreement reached at Washington or
the question of the Cuban sugar tariff and
also TO the certificate of condition filed with
the Massachusetts secretary, showing an
increase in resources. Meantime there were
wide declines in stocks which have enjoyed
recent periods OF strength, the losses being
caused by the marketing of only a few
shares. Among these We're losses of 4 points
each in Chicago & Northwestern preferred
and Glucose preferred trust receipts. 3 in
Evansville x Terre Haute and a point or
more in various others. Wells-Fargo dipped
IA on one transaction and rallied 2A on
another. These violent movements caused
so much confusion and distrust among
SPECTATORS generally that the trading be-
came neglected. Anxiety also was renewed
regarding the immediate future of the
money market, which showed "A hardening
tendency to-day. The conference Of coal
miners at ShamOkin was also an unsettling
influence.
The bond market was rather duh and
Irregular. Total sales at par value were
S2,6l5,0O. United States bonds were all I'M
changed on the last call.
Following are the days share sales and
the recorded price changes: