The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-25
SP0TTY AND IRREGULAR
STOCK MARKET SHOWS No SUs-
TANNED CURRENTS OF SENTIMENT.
Points of Strength and Weakness in
Various Lines of Securities
Money Market Outlook.

NEW YORK March A-To-day's market
made one attempt TO rally from the reac-
tionary tendency that developed before the
close on Saturday and to resume the up
ward tendency which was becoming fairly
general on Friday. Prices started higher
this morning, but the market during the
day did not hold out the promise of the
early dealings, and again relapsed into a
dun and drifting condition with the deal
ings almost entirely in professional hands,
only the more obscure stocks moving with
any degree of energy. There was a marked
demand for the Readings and an apparent
attempt to shift the leadership into the
coalers from the northwestern grain car
riers, whose strength last week was sup
posed to be due to the favorable prospects
of the grain crop. But the obvious fact that
selling to take profits was going on in st.
Paul, showing the work of professional
hands. detracted from the influence of the
new strength in Readings The renewed
attendance at his Office of the most prom
inent capitalists in the street, and the re-
turn to New York from holiday excursions
OF other large capitalists were expected 10y
the most sanguine of the traders TO result
in a resumption of the market activity, but
except for the buying of the Readings no
such influence was apparent. Amalgamated
Copper notably active and with
cas1Onal rallies, was depressed on account
of fear that the Anaconda dividend to be
acted on this week will not be maintained.
There was an active speculation in the
United States Leather stocks at advances
of a point or more, accompanied by re-
ports subsequently circulated that the ac
cumulated dividends due on the preferred
stock were to be funded into a bond. Louis
vile & Nashville and Chicago, indianapolis
& Louisville rose together i'm the late trad
ing, thus reviving old rumors of a combina-
ton. Outside of these cases the market was
spotty and uneven and very irregular
There were wide advances in Evansville &
Terre Haute, North American, General
Electric, corn products and Keokuk & Des
MOines preferred. but none of the gains
was fully maintained, and there were wide
declines in other stocks which have had
recent advances.
Colorado Fuel was active and erratic,
ranging both above and below Saturdays
price, and closing with a net gain of
point. Soothing assurances were heard that
the condition of the money market was per-
fectly SAFE, but the forces of depletion at
and the Narrow margin Of their surplus
serve kept awake an uneasy sentiment
garding the condition of the market until
the April settlements. With the sub-treas-
ury taking money from the market, the
interior demanding currency and the ex-
port point, II Is felt that there is danger
of fiurries in the money market, even if
sustained Stringency can be avoided. The
market closed heavy.
The bond market irregular. but the
active issues were inclined to recede. Total
sales. at par value, were 81, 100, 600.
United States bonds were all unchanged
on the last call.
Following are the days share sales and
the recorded price changes: