The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-18
WIDE And ACTIVE TRADE
STOCK SALES RISE ABOVE THE MIL
LION MARK ONCE MORE.
Operations for an Advance Not Alto
gether SuccessfuI-Heavy Demand
for the Coal shares.

NEW YORK July 1.-THE aggregate
sales of stocks to-day snow further in
crease in the volume of dealings. which
fairly crossed the million share mark. Sub
stantial upward progress was made and
the market broad in the sense that
the large number of different securities
were dealt in. and the trading was also
better distributed among the few stocks
in which the principal activity was CEN
tered. The same preference was shown for
the low-priced stocks to-day, with the ex-
ception of a speculative incursion into the
trunk lines and Vanderbilts. An attempt
was made to bring the speculation back
into the high-priced Western railroads, but
the desire to take profits on the consider
able advance which those stocks have had
was still too eager to allow much upward
progress. The United States Steel stocks
renewed the struggle to advance, but again
met heavy sales at every stage. Some OF
yesterdays conspicuous low-priced stocks
were acutely affected by profit taking. This
was notably true of the Chicago Il Alton
stocks. The evidence of profit taking in
these and the sudden relapse of over two
points in Colorado Fuel, after a four-point
advance, had a decidedly chilling effect
and put sudden stop TO the activity of
the market, leaving it at level which
fairly averaged below last night. The open
ing advance in Colorado Southern and
Kansas City Southern was attributed 70
the same forces was the Chicago g.
Alton yesterday. These movements are
supposed to Signalize the return of the
Western contingent from the corn market
to the stock market. The tone of doubt and
hesitation shown in the market for the July
corn option at Chicago was taken as
warning for possible speculative surprises.
The check thus brought about to the ami
nation of the market was changed again by
the heavy demand developed for the Read
Ing stocks and the coalers. The demand
was developed on the assumption that the
coal miners convention will decide against
a general strike. Late in the day Chesa-
peake & Ohio renewed its strong advance
70 the extent of Us. but without checking
the selling 10 realize at other points and
making the closing irregular Although
there was supposed to have been an ex-
tensive speculation on unknown chances
of the Amalsamated dividend, the declara-
ton at the unchanged rate failed to arouse
that stock from the torpor in which IT
rested all day. The days activity evident
~ represented the prosecution of a regular
campaign for a rise. which was based to-
day on the absence of any unfavorable fac
tors, rather than on any new develop
mentS taVoring higher prices. Call money
rates worked easier to-day and there was
a diminution of the pressure from the in
terror for currency. Sterling exchange
maintained It's nfTn tone and time loan rates
were strongly held. The controllers call
for statements OF condition of national
banks, as OF yesterday marks an event for
which the recent extra demand for cash
from the interior has been in preparation.
1t was a subject OF remark that the re-
Quired date OF condition was unusually near
TO the date of the call, indicating a pur-
pose to ascertain conditions as nearly as
possible of even date. There was some
question whether this new departure does
not conceal strategem designed 10 in
crease the trustworthiness of the showing.
Bonds were active and firm. Total sales.
at par value, were S4.031. 900. United States
refunding twos and old tours declined Is
per cent. on the last call
Following are the days share sales and
the recorded price changes: