The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-17
DIZZINESS AND APATHY
SUCH CHARACTERIZED THE STOCK
MARKET DURING SESSION.
Plenty of Money for All Purposes I'm
Sight, but Stocks Have Little De-
mand-Copper Active and
Sugar HfRher.

NEW YORK, Dec. s.-The stock market took
on the tone Of holiday dulIness and apathy to-
day. Fully half the days meager transactions
were In four stocks: namely. Amalgamated Cop
per. United States Steel preferred. Pennsylvania
and Brooklyn Rapid Transit. An advance in a
few OF the specialties caused some sympathetic
response in the general list. but the advances
were largely lost before noon. The almost total
lack Of demand for stocks allowed a gravitating
tendency to assert itself In spite of the very light
pressure to sell stocks. Brooklyn Transit rise
seemed due % buying from the same sources
as for some time, but the approach OF the open
Ing to traffic OF the new bridge from New York
across the East River was given as a reason for
the demand Of the stock. on account of a prospect
OF increased traffic from that cause.
Sugars advance was supposed to be due to the
imminence Of the passage of the Cuban r%eciproci-
ty bill through the Senate. The market for cop
per continued very active and the price moved
irregularly. The activity Of the raw copper mar
ket in London was an influence on the stock.
but the dealings were attributed to an organized
speculative movement. The repression upon the
market which was evident. was not easily ex-
market, which often becomes apparent towards
the close OF the year. Is entirely lacking at pres
from the West, and the continued movement
towards New Orleans is not sufficient to offset
Incoming inc o nhne~ SHIPMENT pme iarg stii rec tap be OF fee ggla ana Sef tae
the turn OF the year afford assurance for easy
condition OF money for the small period of the
to this center is looked for.
The perusal of the argument of counsel In the
Northern Securities case. as published to-day,
undoubtedly had its effect upon the days specu-
latfve sentiment. both as influencing opinions
as TO the probable decision in that case, and as
suggesting possible collateral applications Of the
principles at issue in the case. There was much
discussion of the condition in the iron and steel
trades, owing to the large gathering of represent
tatives in that trade here TO discuss the main
tenance of prices.
There was no very confident feeling observable
that present prices could be held, and the exist
ence of some of the pools designed to hold rates
was feared to be endangered. threatening open
competition and cutting off rates in some OF the
branches of the steel trade. This seemed to be
the underlying cause of the dizziness in the stock
dealings as much as anything else. The demand
for remittance Is to cover interest and dividend
obligations to foreign securities holders, and the
holiday remittances to friends by foreigners resi-
dent here is also a conspicuous factor in the rea-
sonable firmness of foreign exchange.
Bonds were rather dull and heavy. Total sales,
par value. 81. $50. 900. United States bonds were
unchanged on call.
Following are the days share sales and the
recorded price chauQes: