The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-15
NO ACTUAL RETIREMENT
STOCKS AGAIN DECLINE IN SPITE OF
EFFORTS TO ADVANCE PRICES.
Rather Better Tone in Crucible
Steel, with Some Recovery i'm United
states steel Preferred.
Rather n BE

NEW YORK. Oct 14.-Attempts the
part of the professional traders to advance
stock prices to-day were disturbed by the
development OF a number of weak points in
very much the same manner as yesterday.
The advances which were achieved in con-
sequence were generally wiped out and the
last prices were below last night as rule
The strength I'm the early dealings was
helped by the higher range of prices In Lon
don. where the financial community felt
great encoura cement over the prospect OF
averting hostilities between Russia and
Japan The stock market situation at Pitts
burg was much improved to-day and mar
ket values OF Crucible Steel preferred went
far towards repairing the damage done by
yesterdays panicky break. The responsive
pressure on United States Steel preferred,
which broke that stock in yesterdays mar
ket. was relideed in consequence. The Off
clal denial of some of the disturbing
rumors regarding the business of some OF
the industrial corporations indicated the
activity Of bear manipulations in dissent
mating the rumors and prompted to some
recovery.
The break in the Canadian group of
stocks offered the first interruption TO the
caused by yesterdays rumors of financial
difficulties in Montreal. The effect on the
general list was not very marked and at
tempts were made to contest the reaction.
The market was without any animation,
however, after this development. Later in
the day the weakness of Amalgamated Cop
per overshadowed the whole situation. This
stock was lifted point in the early deal
ings and reflected quite an active specuia-
ton based on to-morrows dividend meet
ing. The late break to 1875, n low record
for the stock caused all sorts of surmises
about to-morrow's dividend action. The
weakness of the American Smelling stocks
seemed to be associated with that OF Anal
gamated Copper. The violent break in the
American Car stocks toward the close or
the session also had an unsettling effect.
| The common fell 3as and the preferred Al.
| The premium commanded by these stocks
| in the loan crowd this morning Indicated
an overextended short account and the
! covering by the bears rallied them in the
| early market. The effect on sentiment OF
! the later break was correspondingly great
| er, owing to this supporting influence or
the market. No news developed regarding
| the property.
Several attempts We're made to rally the
market after the various points of weak
ness had developed. One OF these took the
form OF bidding up of the 70 aSs 3hs
| impression that the leading members of the
| family in control, newly returned from
abroad. was buying the stocks. But their
subsequent release pointed to the move
| ment as a traders device. There was q
| buying movement at one time in Reading
| Also. The resumption of the hearing in the
| United States Shipbuilding suit seemed to
| exercise a depressing effect on the trading.
| The days returns of railroad earnings
| were generally favorable and the decline In
imports and the corresponding benefit to
| the country's favorable trade balance, as
| reported by the bureau of statistics in the
| September foreign trade return, indicated
a favorable factor in the exchange situa-
ton. But these considerations failed to
hold the late market against reaction.
United States Steel bonds rose a at one
time, but lost practically all OF the gain
| The bond market generally was unim-
| portant. Total sales, at par value, Were
| $1,S70,0O0. United States bonds were un-
| changed on the last call.
Following are the days share sales and
the recorded price changes: