The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-12
STEADINESS OF LONDON
OPERATES ALPHABETICALLY IN
NEW YORK STOCK MARKET.
Prices Break Somewhat on Transfer
of Gold to San FranciscO-GOId
Exports Again Possible.

NEW YORK March 11.-Sentiment ex-
Perienced a sense of relief when the re-
ports of the early London market showed
that powerful support was accorded the
Kaffir market there, and that very little
damage has resulted elsewhere from the
shock Of the capture by the Beers Of Cen
eral Methuen. The, price of British consols
yielded only shade, which probably
the most accurate index of the real gravity
of the event in its influence British
financial affairs. The revised reports of
the output of gold from the Witwatersrand
for February is probably of more real inn
pOrtance at this stage of war, and its show
ing may help to explain the Indifference of
the London market to the Methuen disaster.
According to this report by the Transvaal
Chamber of Mines, s1,4O5 ounces of gold
were taken out during February, compared
with 7O,3D in January 1887 in December
and no more than 39,095 in November. This
rate Of resumption of the gold output
means much to the general financial world.
and indirectly TO New York, which is called
on to supply European deficiencies due to
the cutting off of the South African supply
Of gold. The calmness of the London mar
ket led to some covering by short lines in
this market that were put out yesterday in
hope of covering at a profit on London sell
ing this morning. There was renewed move
ment in some of the minor specialties
which have been the favorites for some
time past. The news OF the deposit at the
subtreasury of 100000 in sold for tele-
graphic transfer to San Francisco in con-
nection with the traction merger there,
called renewed attention to our own do
nestle money market situation. The sell
ing movement which followed threw the
market into irregularity for the rest of the
Gay. Inc earlier gains were generally
wiped out by the first selling on this news.
There were subsequent recoVeries. but the
market closed heavy in tone and without
animation Without counting to-day's trans
fer to San Francisco the markets loss to
the subtreasury since the last bank state
ment. counting the Saturday shipments of
gold Tor which payment was made TO that
institution. amounts to $45S1 goo. The rate
for New York exchange at Chicago, how
ever, which has been al a discount, rose to
par. Foreign exchange rates, which were
easy yesterday. steadied to-day and the
question of additional gold exports is there
by reopened. OF the days special move
ments, that in the Colorado q Southern
stocks continued notable. Manhattan was
firm on the report of large earnings. I'm
confirmed rumOrS were still heard of a
consolidation of Mexican railroad interests.
Chicago Terminal stocks were advanced on
reports OF buying in the interest of Balti-
more & Ohio. The Wisconsin Central stocks
We're active and strong without specific ex-
PLANTATION. The strength in Peoples Gas
was due to reports of measures to contest
the 75-cent gas ordinance in Chicago. There
were a few other wide movements of less
Importance, and which were not fully main
tanned.
Bonds were rather dull and irregular
Total sales at par value were S2.9S5 eco.
United States bonds were unchanged on
call
Following are the days share sales and
the recorded price changes: