The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-14
BETTER TONE in STOCKS
NO INCREASE IN ACTIVITY, HOW
EVER. IN WALL STREET.
Changers and Soft COaIers strength
ened by Favorable Conditions
Call Loan Rates Are Easier.

NEW YORK, Aug. 13.-There was no i'm
provement in the activity of the trading in
the stock market to-day. but the tone was
frmer and did not reflect the disposition
to liquidate on all advances. which was a
feature Of yesterdays market. For the
most part. however, the representative
stocks were neglected and sluggish. The
Gould stocks were the most conspicuous in
the trading. Missouri Pacific leading in
point Of activity. There were heavy deal
ings also in all of the Wabash securities
and in Texas & Pacific. The Southwestern
railroads are expected TO gain a special
benefit from the large corn crop, and the
winter wheat crop in that territory is also
in a high average condition. The Wabash
stocks were especially affected by reports
Of aggressive steps being taken to secure
terminal facilities both In P%ittsburg and i'm
Baltimore for the use of the Wabash's
Eastern extensions. There was a ftfuI
speculation in the soft coal stocks, based
on the benefit felt by that trade as an in
cident Of the paralysis of the anthracite
trade. There were persistent rumors as
we'll Of ar intention on the part of the Nor
folk 81 Western directors to advance the
dividend rate on that stock. The settle
ment Of the elevated roalroad troubles
helped Manhattan and the Goulds as a
group. There was a notable show Of
strength in a number Of minor railroad
stocks. especially in the granger region.
The brokers employed by the speculative
interest which accomplished the l.. & n.
transfer were conspicuous in these opera
tons. The National Lead stocks responded
10 reports of a combination in the lead in
terests of the country. United States Steel
shot up Is on the news Of an additional dis
trtbutiOn of $l0.O0O.O00 profits TO the under
writing syndicate, thus bringing the total
distribution up 10 $4,000, 600 on actual paid
In subscriptions Of S25.N0.OO0. The stock re-
lapSed quickly into comparative inactivity,
but with a fractional gain retained. The
aggressive steps being taken on behalf of
the Northern Securities Company to clear
up litigation against that corporation and
the hopeful views expressed Of it's earnings
by James j. Hill give the impression that
active steps are pending towards a distri-
button Of the stock. This and many other
plans are supposed 10 be waiting on the re-
turn of j. 2. Morgan, who sailed for New
York to-day. Among the weak features
AmaIgamated Copper was affected by the
unstable tone Of the raw copper market.
The price of Rock Island was lower, sup
posedly with a view to discourage the dis
position OF minority stockholders TO liqui-
date their holdings rather than consent to
the conversion plan. Funds were more
freely offered on call to-day and the rate
was easier. The active export demand for
wheat encouraged the Offering Of exchange
bills, and the rate for sterling showed no
recovery from yesterdays decline. The
closing was quite active and irregular.
Wabash debenture BIS were the feature
of the bond market. The Central of Geor-
gia second incomes were also in demand.
Total sales at par value were s., 10000
United states bonds were all unchanged on
the last call.
Following are the days share sales and
the recorded price changes: