The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-19

BROADENING ACTIVITY IN THE MAR
kET AT HIGHER PRICES.
IndustriaIs Exceptions to the Rule
Noteworthy Advance I'm Illinois Gen.
traI-Foreign Money Markets.

NEW YORK, June 1s.-Leaders of the
bull campaign in stocks made a more
aggressive demonstration to-day than at
any time since the campaign was inaug-
urated The market broadened and there
was a material increase I'm activity. the
volume OF dealings rising over that for any
one day since some time before the first
of the present month. The strength of the
market was pretty generally disseminated
through the railroad list. but the industrial
department as a whole was a conspicuous
exception to the strength prevailing else
where. There was little news TO account
for the rising tendency. The bulk OF the
operations was attributed 10 the Western
speculative party. which was credited yes
terday with having secured a corner on the
July option In corn. The distress of the
shorts in the corn market this morning
seemed to give added effect to the demon
stration In the stock market, but the sharp
reaction later in corn did not alter mate
rally the tone Of the stock market. The
news OF the day was rather adverse TO the
rise fl stocks. For instance, the calling of
a national convention OF miners in Indian
apolis must be regarded as increasing the
probabilities or suspension of work
among soft-coal miners on what principle
for Reading and also for the soft-cosl car
riers is not very clear. In fact, realizing
made itself effective In Reading and wiped
out all its gain. The report of too copious
rains in the Southwest, except in parts OF
Texas, where IL was needed, makes II
equally difficult 70 account for the strength
OF the southwestern grangers. NeVerthe-
less, Missouri Pacific was absorbed on an
enormous scale. The Gould railroads gen.
orally were affected in sympathy, and espe-
cially St. Louis Southwestern preferred,
| IMPROVEMENT
strategic position OF the Gould system
and the general belief in the coming
formation of a central holding company
are persisting influences in those stocks.
The dealings In Union Pacific were also
well up TO the total of other leaders. The
| most influential movement in the market
was that in Illinois Central, which was
| lifted an extreme points, with constantly
\ increasing urgency as the top level was
| approached. The stock reacted points
! at the last. The fact that the board of di-
! rectOrs were in session gave rise to a flood
/ OF rumors Of an important announcement
| 10 be made affecting the value of the stock,
but the market closed without definite
| knowledge OF what the news was to be.
| The situation in the local money market
was unchanged, but the tone OF sterling
| and continental exchange continued very
| firm, and there was no recovery in sterling
! at Paris. where, also, the private rate OF
| discount advanced. Money was easier in
| London, out higher rates are looked for
| there before the end OF the month, owing
| 10 semi-annual requirements. The depres-
| sion or industrials to-day was in marked
| contrast to the strength of railroads. The
dribbling liquidst ton in the United States
Steel stocks continued and Sugar was weak
| on the belief that no action on Cuban reel
| procity Will be taken at this session of
| Congress. The market closed irregular and
| rather easy.
| Bonds were spotty and irregular. Total
! sales at par value We're s4,5lO,009. United
! States twos. regular, and old tours al
| vanced Is, the threes "A and the threes,
| coupon, q on the last call.
| Following are the days share sales and
| the recorded price changes: