The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-31
INFLUENCED BY COPPER
STOCK MARKET RESPONDS TO AC-
TIyITY IN THOSE SECURITIES.
Result Is a Generally Higher Level of
Prices-A Few Good Gains Made
on Individual Causes.

NEW YORK, Jan. 30-To-day's market
again showed its sympathy with Amalga-
mated Copper. The dealings in this stock
were about twice as great as those in SUI
gar, and the transaction in the two stocks
combined were an overwhelming proportion
of the aggregate. The speculation in Anal
gamated Copper. while very active, was
accompanied by much confusion of sem
timent regarding the actual developments
in trade and their bearings on this Sc
curity. The active and excited demand for
crude copper in London this morning and
apparently urgent bidding on the local
metal exchange at advancing quotations
indicated urgent requirements in the trade,
but the advance in Amalgamated Copper.
while apparently logical result of these
trade developments, is met by persistent
representations from sources which the
street regards as authorized to speak for
insiders which seemed to be designed to
discourage the advance in the stock. These
representations are to the effect that the
supply of metal accumulated about the
Amalgamated Copper Company were not
only sold at the low level. but heavy con-
tracts for future delivery are alleged to
have been also made by that company be-
fore the price of the metal rallied. Spec
Ulative sentiment is much confused by
these conflicting interpretations and is
made wary by the costly experiences dur
ing the rapid decline in this stock. The
price moved irregularly to-day, but at a
| level above last night throughout. The
price touched II at one time, which rep
/ resented an entire recovery of yesterday s
] less and II in addition. The net gain on the
/ day is rs. Sugar was depressed and at no
! time sold fully up to last nights. level.
| This mornings published report indicat-
| ing little chance for the reduction of duties
/ on Cuban sugar affected the stock through
| out. The publication of the statement OF
| the United States Steel Corporation was
| the dealings in the stocks of that concern,
| which were of insignificant proportion. In
/ the railroad list Southern Pacific easily
! held formost place, with a net advance
! OF points. The activity of this stock was
| associated, in the minds of the traders,
/ with the resumption of active trading OF
! a leading operator after a period of illness.
/ Its strength helped the other transcon-
/ tinentals by sympathy. The increased net
earnings for December for Union Pacific,
! following yesterdays increases by other
corn carriers, was a help to the Western
/ and Southwestern grangers, as the effects
! of the corn crop shortage We're expected
! 10 develop not later than December. The
/ other movements of the day were from
! individual causes. Evansville & Terre
/ Haute rose over points on reports of a
merger with other north-and-south lines
| In Ohio and Indiana. The LinSeed stocks
advanced strongly on reports of higher
prices for linseed oil, while the apparent
cause for the strength of the Distilling
stocks was a reduction in the prices OF
/ spirits. Rock Island rose 3 points on com.
/ paratively light dealings, owing TO the
small floating supply of the stock. The
/ price movement generally was very mar
row, but fractional net gains were the
| rule at the end of the day.
The bond market was somewhat irregu-
lar. Total sales at par value were $50
/ coo. United States threes. coupon advanced
/ y per cent on the last call.
Following are the days share sales and
! the recorded price changes: