The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-03
DOING IN STOCKS
UNIMPORTANT ISSUES SHOW THE
ONLY SIGNS OF LIFE.
Price eme without ExpIana-
tiOn-General Level Is Lower
The Monetary

NEW YORK. April 2.-The naming of
the most active stocks in to-day's market
Is in itself an Illuminating commentary on
the character of the market. United States
Leather led the list, followed at a con-
siderable interval by Am~algamated Copper.
The dealings in Colorado Fuel fell to in
significant proportions i'm comparison with
the recent trading. Sugar was well up in
the list Of active stocks. OF the prominent
railroads only st. Paul and Louisville &
Nashville showed a notable degree of &C
tivity, and the fluctuations did not reach
as much as a point in either of them. The
extreme range in the United States Steel
stocks was 3 for the common and Il for
the preferred. and both closed at a shade
under last night in spite of the extraordi-
nary earnings reported for the year of the
company's existence and the official assur-
ance gwen Of the success Of the plan for
providing s5O.OO0,OOO additional capital. Many
Of the usually prominent stocks did not
open at all before the middle of the days
session. and not a few will be found with
no sales recorded. The price movements
OF consequence are almost invariably
among the less known stocks, and the rea-
sons advanced were very obscure. St. Paul
q Omaha rose 6 points on a few transac-
tons and the preferred 3. but Pere Mar
quette dropped 8 on only one sale. The
Hooking Valley stocks were active and
strong, the common rising 4 and the pre-
ferred 2 Rumors were revived of a plan to
retire the preferred stock at par. The Wis
consin Central stocks and the Toledo, st.
Louis q Western stocks were bought ap-
parently on the strength of their strategic
position in the competitive field. The New
York Dock stocks rose in an erratic man.
ner on the supposed realization OF the
valuable equities in the property. The
movement I'm the Leather stocks was on
the assumption that the preferred stocks
and it's claims to deferred dividends were
to be cleared up In some way by a bond
issue. There were other movements OF less
degree, but these will serve to illustrate
the character OF the market. The losses.
which were literally sprinkled through the
list of stocks of a similar character, had
no other explanation than that they had
previously advanced on rumors which have
not been confirmed. The weakness of Rock
Island was associated with the announce
ment of its additional stock issue. The
decline in the Buffalo, Rochester & Pitts
burg stocks was doubtless due TO the coal
miners strike in it's territory. The move
ment in the general list was insignificant
1t is true that prices were at one time adj
vanced a fraction, but no other cause was
apparent than that they declined yester-
day. The crop report by the government
Weather Bureau had some influence on
sentiment. but the present grain markets
are regarded as under the artificial influ-
ence OF large speculative operations, and
are therefore distrusted as an index of
actual conditions. The statistics of the
copper trade and rumOrs OF an approaching
agreement among the output and price
were given some credence. Future money
market developments are still awaited, the
easing tendency of money here being Coun-
terbalanced by the expectation of early
gold exports. The market closed dull and
heavy on the taking of profits by room
traders.
There was a very good demand for bonds.
which was better distributed than of late.
Total sales at par value were s., 4S0. 600.
United States bonds were all unchanged on
the last call.
Following are the days share sales and
the recorded price changes