The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-19
LITTLE new in STOCKS
PRICE CHANGES FEW AND MOSTLY
WITHOUT EXPLANATION.
Most of the Activity in the UsuaIIy
Dormant sf-MOnetar Condi-
tions Somewhat Better.

NEW YORK, March 1s.-The recent spec
ulative character Of the stock market was
not materially changed to-day. SpecGla-
tive incursions into the field Of usually i'm
portant stocks were few and %desultory in
character. Now and then a seemingly ac-
tive buying movement would develop in
some stock that occasionally has been a
market leader in the past, but the activ-
ity would as suddenly subside and the
dealings revert to some rarely active stock
The high-priced specialties continued in
favor and a number of low-priced indus
trials also were brought up to a consider
ably higher level of prices. The minor
railroads were less conspicuous, although
a few of these continued to show wide
movements. There were declines on profit
taking in these classes as well as the new
strong points. The most conspicuous
movement of this kin was in North Amer
lean. which Jumped about in an erratic
manner in the course of a sensational adj
vance of 141z points on unusually heavy
dealings. The movement was without eX-
PLANTATION beyond the longtime gossip of
the availability of the company's compre-
hensive charter rights for the purposes of
some great consolidation scheme. Other
stocks not usually prominent which show
striking advances were American and Con-
tinental Tobacco preferred, General Elec-
trio. Pullman. Colorado Fuel. American
Mating preferred, American Cotton Oil,
Chicago Union Traction, International
Pump and Rutland Railroad preferred.
Among the more prominent stocks Anal
gamated Copper continued active and
found support after the recent heavy de-
cline. Much of the buying was attributed
TO the demand from shorts to cover. Sugar,
on the other hand, was reactionary on ac-
count of the dispute over the reduction of
the tariff on Cuban sugars An instance
OF the disposition to take profits on good
news was the selling of Pacific Mail on
the passage of the ~ship-subsidy bill by the
Senate. The New York public utilities
also suffered from proft-taking after some
early advance. The most consistent move
ment of the day was that in the coalers,
which represented a speculation on the
outcome of negotiations between anthra-
cite miners and operators for an agree
emnt on relations during the coming year.
Lackawanna made a characteristic ad-
vance of z points, but the gains otherwise
ran between one and two points. The
moderating of the weather i'm the West
nad some influence IN causing htgher
prices, although the late rise i'm the wheat
market somewhat modified this influence.
Aside from these cases the movements of
the day were almost entirely due TO the
individual causes. The money market was
quiet and there was a belief current among
spectators that the distribution of the
Standard OIL dividend furnished the re-
sources for a good deal Of the buying. The
payment on Friday next of the United
States Steel common dividend was looked
forward to with hopes of a similar inlu-
ence. There was very little actual change
in the condition of the money market. The
slight relaxation in the tone Of call money
led to a frmer tone in sterling exchange
and the fall in the sterling rate at Paris
was also an index of pressure towards the
gold export point again. The large bond
redemptions forced by the treasury's no
tice of suspension of its offer have given
the banks a good gain from subtreasury
operations TO start the week with. But
the removal Of this resource i'm case OF a
future stringency is 10 be considered for
future contingencies
The bond market was dull, but steady.
Total sales at par value were S2,S70,00 O
United States bonds were all unchanged
on the last call.
Following are the days share sales and
fha ra0ordal rorf0a ohapuao.