The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-21
STOCKS in BETTER TONE
GENERAL IMPROVEMENT IN PRICES,
WITH A FAIR DEMAND.
Sugar Is an Exception, Ruling Weak,
and AmaIgamated Copper Is Bare
ly Steady-MOney Is Plentiful.

NEW YORK, March 2.-General i'm
provement was shown by the stock market
to-day. The absence of selling pressure at
the opening caused the professional element
to cover in a number Of the active stocks,
with the result that numerous material
gains were registered. Southern Pacific was
one of the few exceptions, showing more
or less weakness throughout the day. The
bulk OF the days business was done during
the morning session, though in the last
hour the market resumed it's early activity
and closing prices were in many instances
the best of the day. The better feeling was
more pronounced in the afternoon because
some loans being made at per cent. 1t
was the the general opinion that, barring
untoward events. the situation should i'm
prove from now on.
The early gains included Canadian Pa
cific. Louisville & Nashville, st. Paul, sew
eral specialties. including Minneapolis &
st. Louis. which advanced four points. and
the steel stocks. Later there were inn
proved prices for Baltimore Sc Ohio. the
Fries, New York Central, ST. Louis & San
Francisco issues and Rock Islard. The adj
vance in the last two named was accom-
panied by reports that an early announce
ment Of a much discussed deal would be
made. In the Industrial group prices
reached a higher level in Tennessee Coal,
Colorado Fuel and General Electric. Sugar
shares were weak and Amalgamated Cop
per was barely steady, though making a
fractional net gain. The decline in Sugar
followed the operations of specialist who
Offered the stock down in hundred-share
lots. A feature Of the early afternoon was
the sudden demand for Metropolitan, which
was said to come from the large short in
terest. On early large transactions the
stock made net gain of four points, clos
ing at the top. Missouri Pacific developed
some strength by reason of its statement
Of earnings, which was one of the most
gratifying features Of the day. The hard
coal stocks were fairly strong, though not
| in active demand, and st. Paul advanced
| on what was reported to be inside buying.
| London traded in about 1900 shares here,
| buying slightly on balance The days
| business was comparatively small and COM
mission houses continued to report an abb
sence OF public interest. Much of the buy
| ing came from the various pools and
| cliques that were prominent on the short
side up to few days ago.
| There was no change in the foreign ex-
| change situation. Demand sterling rose a
trifie in the morning. but eased off to SASH
| toward the close. Very little business was
| reported. Money. both for time and de-
| mand loans, was offered in abundance, but
| the demand was again only moderate
| Forecasts of the weeks money movements
/ indicated a comparatively slight loss by the
banks The increasing strength Of the mar,
| ket during the day led to more general
| inquiry for numerous minor stocks which
had not figured in the rally to any extent
| These included Chicago Terminal issues
Colorado & Southern issues, Wheeling &
Lake Erie, Evansville & Terre Haute and
| several other obscure properties. NORTH
| American made jump Of four points. but
did not maintain the full advance, and sew
eral other high-grade stocks which have
been recently liquiiated improved.
| The bond market maintained firm tone
| throughout the day, but was somewhat les:
value were S1,47S,OOO. United States new
| tours ana fives advanced u on the last call
Following are the days share sales ant
| the recorded price changes: