The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-22
Big SHIPMENT OF GOLD
SUM OF S1,OOO,OOO TO BE STARTED
TO EUROPE TODAY.
Announcement Causes an Active, Easy
Closing of the Share Marketable
Days Price Movements.

NEW YORK. July 21.-There were vari-
Gus demonstrations of strength in individ-
ual stocks to-day, but the sustaining force
OF these advances was taken advantage of
on every occasion TO sell other stocks for
the purpose of realizing profits. This was
effected without any noticeable damage to
prices owing to the judicious and careful
manner which the market was fed In
the last half hour OF the market, however,
when it became known that arrangements
had been made for a shipment Of 100000
in gold to Europe by tO-morrows steamer,
the whole market turned downwards and
closed active and easy. Not much was
left of earlier gains in any case. and Penn
sylvania, which a very conspicuous
leader of the early market closed at
small net loss. The early strength Of this
stock was attributed to the supposed &C
quirement of control of Reading, but the
other subsidiary companies failed TO par
ticipate. Chesapeake & Ohio and Norfolk x
Western being among the weak stocks for
the day. The decision of the coal miners
convention against a general strike was
anticipated with certainty, and the large
buying of last week of the soft coal car
riers was on that account. The heavy real
izing Of the day was doubtless on the
ground that all the good news concerning
these stocks for the present has been pub
lished. Among Western railroads the active
speculation shifted TO Missouri Pacific,
Atchison and St. Louis Southwestern. Re-
ports of weather favorable to the crops
was the continuing influence on these
stocks, but it failed to affect the price or
other stocks which would be equally bene-
fitted by good crops. Old rumors were re-
Vived of a closer relation between st. Louis
southwestern and Chicago & Eastern lii
nois. The reports of damages by floods in
the Western States We're ignored. The in
ure of the judicial conference which was
expected TO take up the appeal in the case
against the United States Steel stock con-
version plan may have been an influence in
killing speculation in those stocks. London
was quite a heavy seller Of stocks this
morning here, and was itself a sufferer
from liquidation from Paris OF accounts in
South Africa. This train of events was
of gold by tO-mOrrOw's steamer. The an
nOuncement came something of a sur
prise nevertheless, as sterling exchange at
Paris recovered a fraction to-day. But the
points on New York for currency and the
continued disbursements by the govern
ment in excess of receipts have resulted in
such easy conditions of the local call money
market that the specie became easily avail
/ able and the shipment provided a cheaper
method TO remit than the purchase of eX-
/ change, which has Rugged the gold export
/ point for a week or more.
There was an easier tendency in the bond
/ market which shows rather notable lack
/ Of investment demand. Total sales at par
| value were 100000. United States old
| fours, registered. declined Is per cent. on
/ the last call
/ Following are the days share sales and
! the recorded price changes: