The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-05
MARKET is MORE ACTIVE
SHARES IN GREATER DEMAND THAN
FOR SOME TINE PAST.
Several Important Issues in the Active
List-Monetary Conditions Are
Practically Unchanged.

NEW YORK. April 4.-To-day's stock
market gave unmistakable evidence of a
substantial recruiting of the speculative
element. The movement was a good deal
of a mystery, both as to its motive and as
to the identity Of the operators. Stock
market gossip attributed it to the same
group of Wesern capitalists TO which many
recent movements nave been attributed,
and which has been supposed 10 be con-
cerned in the present large speculative
operations in the grain markets. The days
operations were on a far larger scale than
anything in the recent history of the stock
market. The dealings in st. Paul and
Union Pacific were wildly reminiscent of
the days of the boom of last year. If the
dealings in these stocks are added TO those
in Louisville & Nashville and in Southern
Pacific it will be found that considerably
more than one-third of the days aggregate
transactions are accounted for. 1t was not
until late in the day, in fact, that much
impression was made on other portions of
the list. Such stocks as the New York
Public Utilities, New York Central and
Pennsylvania were then brought forward
with spasmodic advances. In the final hour
selling to take profits made heavy inroads
on prices and reduced all of the principal
gains to fractional limits. The market
closed dull, but steady. There was no news
to account for the sudden demand for
stocks, although rumors were plentiful,
pointing to a fresh reimbursement of control
in the transcontinental railroad system.
Rather the movement seemed based on
an assumption that the time of doubt and
uncertainty over the outcome of the year
was practically past, with the largest re-
quirements on the money market supposed
TO be met and with the crops assured of a
good condition after the winter to start
the season with. To account for any such
total of sales as those recorded in the prin-
cipal active stocks to-day, allowance must
be made for the sale and resale many times
of identical holdings. The general reaction
at the end Of the day also points 10 the
tentative character of the speculation.
There was very active realizing among
many or the specialties recently advanced,
conspicuously Sugar and Colorado Fuel.
Neither was there lacking the wide ad-
vances in obscure specialties that recently
have characterized the market. There was
no change in the situation of the money
market except as indicated by a loss of
cash by the banks during the week of over
$,WO.OO 10 the subtreasury, which is Off
set by a gain on the interior movement of
less than $1,000. 900. The frmness of ster-
ling exchange and the further decline in
Paris rate of sterling point to gold exports
quiet, however, and the forecast of the
bank statement made very little impress
sion on the stock market.
There was an active demand for bonds,
Tor which there was a good open market
all day. Total sales at par value were S.
$4,000. United States bonds were all un-
changed on the last call.
Following are the days share sales and
the recorded price changes: