The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-03
Considerable Strength mt Various
Points I'm the Market for Large
Portion of the Day.
REALIZING ON THE ADVANCE
CAUSES THE Loss OF MOST OF THE
RECORDED GAINS.
A Number of Unfavorab1e Earnings
Reports Helps the Decline-MOney
Again Goes to 1-2 Per Cent.

NEW YORK. Nov. 2.-There was a consider
able increase in the volume of dealings on the
Stock Exchange again to-day, accompanied by
period of conspicuous strength. Realizing in
some stocks was in evidence at all times. Later
this tendency was spread through the market
Until IL became top heavy and turned down.
wards. wiping out part of the early gain An
upward squirt In two three Of the industrial
specialtes at the last partly rallied the market.
but realizing again met the advance, and the
close was active and irregular.
The conspicuous movements at the last were
jump Of Al in Colorado Fuel. IA in Colorado
Fuel convertible bonds. 3ss in Sugar and rs
In Amalgamated Copper. The fact that there
was no news to account for these sudden jumps
aggravated the distrust with which they were
other points OF the market.
The persistent pressure on Pennsylvania was
overcome by a succession OF buying move
ments at other points which gradually dissi-
count was a factor in the advance. The turn
in the month released money to that market and
markets over the prospect for peace in the far
East. Trade reports of the coal industry were
encouraging, owing to the influence of the colder
weather. and the statement OF earnings of Lee
high Valley for October. showing an increase
panes of over a million dollars. supplemented
Readings good showing of yesterday. Norfolk
period. which helped out the soft coalers. except
Pennsylvania That roads statement for Oc-
tober showed decreases of net for the lines both
east and wess Of Pittsburg and Erie. owing to
the growth in operating expenses. A disposition
to realize in Louisville Nashville was increased
by the decline in net earnings for October shown
by Nashville, Chattanooga & ST. Louis. Union
Pacifics October statement showed increase
in net earnings of more than 500. 000 thus saw
ing more than half the growth in gross earnings.
but this stock also showed the effect of realizing,
as did its subsidiary company, Southern Pacific.
The industrials a class, were higher, and IL
was suspected that closing up of short accounts
had much to do with this especially in United
States Steel preferred There is some growth
of a sentiment that the prices Of stocks In this
class have discounted the worst that could hap
Zen In the Industrial future, leaving room for
some natural rebound from excessive depression.
Money went to ~ per cent. again to-day and
the banks transferred $4,000 of their reserves
to New Orleans without any compensating adj
vantage in foreign gold engagements The opin-
ion is gaming force that the tightness of for
eign money markets probably will keep up the
money rate here over the year and whatever
advantage Of position may hold in the in
ternational exchanges.
The movement of bond prices continued rather
irregular, realizing in speculative issues being
In evidence In that market well as in stocks.
Total sales at par value were So, 154 600. United
States bonds were unchanged on the last call.
Following are the days share sales and the
recorded price changes: