The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-19
STOCKS ARE VERY ACTIVE
THE MARKET ALSO Is BROADER
THAN FOR SOME TINE.
Price Movement Generally Upward,
Money Outlook Fairly Good.

NEW YORK. April 1S.-The varied activ-
ity of very large speculative forces was
still manifest in the stock market to-day.
The movement of prices was entirely char
acteristic of an active speculative move
ment under a well-centered and aggressive
leadership. The dealings were on a larger
scale than those of yesterday. and progress
was made also in the breadth of the move
ment and the variety of the stocks dealt
in. The average of the daily dealings for
the week has been brought up to impressive
proportions. and in fact TO a level Of sus-
tanned activity that was entirely unprece-
denied in the local stock market until last
years new records were established during
the period of greatest speculative excite
ment. There was nothing i'm the news to-
day or in the general conditions and out
look to account for the manner in which
new points of strength were constantly de-
veloped. while the older points of strength
were left to drift downwards or were sub
ject to a judicious feeding of the demand
for the purpose of realizing profits. Those
stocks which sDurted late yesterday and
those which opened this morning with a
vigorous upward movement almost without
exception were subject to realizing and
closed the day with small net gains below
the best prices. This was notably true of
Atchison and the anthracite coalers, and
was measurably true of stocks which
showed periods of strength later in the
day. Broadly speaking, the leadership of
the advance was shifted to st. Paul and
then to Union Pacific, with a more mod
crate response among the other South
westerns and Pacihcs. Southern Railway
and Louisville fell into the BACKGROUND
again. The bitumincus coal carriers en-
Joyed a period of strength and there were
a number Of wide advances among scattered
industr1als and specialties. Colorado Fuel
was actlVe and strong on a speculative sup
position that absorption of that company
into the United States Steel Corporation
had been assured as g part of the settle
ment OF the control of l.. & n. Interna-
rose an extreme 10A, presumably on the
dividend declaration yesterday. There were
gains or between 2 and s points in North
American, Peoples Gas, Rubber Goods
stocks and New York Air Brake. the Amer
lean Snun stocks, Fort Worth & Denver
city stamped and Nashville, Chattanooga &
~. Louis. Burlington, Cedar Rapids &
Northern dropped 10 points on a single sale
ana Brooklyn Union Gas 3. Amalgamated
Copper was quiet, but somewhat depressed
after yesterdays dividend reduction. Amer
lean sugar was sold on the strength of the
proposed amendment to the Cuban reel
procity bill TO rescind the differential duty
on renned sugar.
The preliminary figures of the cash move
ment for the week Indicating a gain in re-
serves of over 81, 500, 900, and an easier tone
In the money market were calculated to sus-
tain the speculative movement. The fact
that sterling exchange has ruled easier
throughout the week in spite of large Amer
lean subscriptions 10 the new British loan
and some selling Of securities here on Lon
don account, while the supply of CONNER
ctal bills of exchange is notably scanty, is
striking evidence of the large credit re-
sources of this center I'm foreign markets.
The market closed active and irregular.
The activity in stocks has diverted in
terest from the bond market, which was
rather dull and irregular. Total sales at
par value were So. 975, 600. United States
threes, coupon, advanced 4 per cent. and
the old fours, coupon, declined % on the
last call.
the recorded price changes: