The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-20
ACTIVE DAY IN STOCKS
TRADERS TURN TO THE BULL SIDE,
WITH MANHATTAN LEADING.
A Few Soft Spots Have No Effect on
the General List-Time Money Still
Scarce and Hard to Get.

NEW YORK. Nov. 19.-Interest In to-
days stock market conferred almost entirely
in the local fractions, which were very
strong and active. Operations in that group
aggregated about one-quarter of the entire
days business. Manhattan, as on the pre-
vious days of the week, was the real fea-
ture. making a maximum advance of over 8
points and a net gain of 67s Metropolitan
and Brooklyn Transit, which were taken
up later in the day. scored net gains of
3s and AZ points, respectively The street
is convinced that some sort of a deal is
on in Manhattan and there are those who
believe that the deal includes practically
all the street lines of Greater New York.
Manhattan, according to rumors current
during the day, may go to Metropolitan in
terests. or be taken over by the syndicate
which controls the subway system now in
course OF construction. Rumors regarding
Brooklyn Transit had to do with the Penn
sylvania Railroad interests. The Pennsyl-
vania road, as is generally known, controls
the Long Island Railroad and has other
interests in Kings and Queens counties.
Nevertheless. the rumor coupling Pennsyl-
vania with Brooklyn Transit was generally
secuted. Opening prices reflected further
pressure in all the active stocks except
Manhattan. Colorado Fuel declined points
and there were several losses of a point or
more in Baltimore Ohio. st. Paul, Union
Pacific and Amalgamated Copper, while
Reading, United States Steel and Sugar
also sold lower Manhattan meantime con-
tnued to advance on buying orders at
tributed to Gould brokers. and in the first
thirty minutes advanced to $50, from which
Ii fell points, but, as is shown, more than
recovered this loss Prices gradually i'm
Traders who had been out of the market
for some days took the long side and the
short interests covered extensively, es-
pecially in Manhattan and Sugar.
Trading in Manhattan during the early
session was so wide that the stock gained
a point between quotations. 1t was report
ed that very prominent operator was
engineering the movement. Recoveries at
this time elsewhere in the list were fever
ish and cratic, as was shown in the
course of such stocks as Metropolitan,
Louisville & Nashville, ST. Paul. Rock
Island, Missouri Pacific and Canadian Pa
cific. Sugar continued steady on reports
of better trade conditions. Colorado Fuel
fluctuations were wild, making at one time
an abrupt rise of 4 points, though closing
points below yesterdays price. General
Electric went off points on small sales
seemed to be meeting more stock than 1t
could absorb. The early afternoon brought
the real upturn in the fractions, and in the
general rally an improved tone was shown
by St. Paul, Reading, Norfolk & Western,
Southern Pacific, Union Pacific, b. & o.,
Wabash preferred, Atchison and some 9TH
ers in the same class. The closing was
strong and active for the first time in
some days.
Nothing was said respecting gold exports
The scarcity of time money has forced
borrowers to appeal to foreign bankers for
accommodations and more loan bills were
offered to-day.
Railroad bonds were rather heavy in the
early dealings, but improved later with the
rise in stocks. Total sales, at par value.
were S3.OOOOOO. United States bonds were
all unchanged on the. last call.
Following are the days share sales and
the recorded price changes: