The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-02-10
BROAD AND ACTIVE TRADE
GOOD ADVANCES MADE IN NEARLY
ALL THE LEADING STOCKS.
Many Minor Issues Also Share i'm the
Days Movement-Money Market
Continues to he Very Easy.

NEW YORK, Feb. 9.-There was a re-
vival of activity in to-day's stock market
which brought the volume OF trading above
the level of last Thursday. There was
greater breadth and variety also III the
dealings than for weeks. The advances
were not made all at one time, but sue
cessive points of strength were developed
previous gains were well held in spite of the
natural realizing under cover of the new
strength. There was a pause in the up
ward movement after the opening squirt.
but after that there was no general reac-
ton until the final hour. This might be &C
counted for by the profit-taking sales OF
the room traders who saw larger days
profit accrued than for many days past.
The reaction was somewhat emphasized
by reports that new proposals had been
received from Germany concerning the
Venezuelan settlement which threatened
TO open up the whole question. The CLOS
ing was steady and generally only frac-
ton below the best Commission houses
reported some increase in outside business
and some of the largest business or the
day came from houses with extensive wire
connections in the East, the middle West
and the South.
The upward movement originated this
morning in the Gould stocks and in the
bituminous coal carriers. The Gould shares
have had the advantage of an influential
pool, which has carried on operations in the
various securities of the group for some
time. Their special activity on Saturday and
Of to-day was professedly based on the
active measures taken to complete the At
lantic outlet, for the Wabash system. In
the case of the bituminous coal carriers
the motive for the buying was the settle
ment agreed on at Indianapolis between
the miners and the operators fixing wage
scale. The possibility of discord over this
question had been a shadow on these
stocks for several days. Another wage set
Element which seemed to gather Importance
as it was considered was that between the
Missouri. Kansas e. Texas and its en-
ployeS. The settlement is of Importance in
ITSELF and in addition 1t seems to be un-
derstood that Ii is 10 form basis for agree
ment on practically all the railroad sys-
TENS west of the Missouri river. The Pa
cities, Changers and Southwesterns conse-
quently were all very strong. These set
Elements represent higher wages and cor
responding increases in railroad expenses,
but the willingness of the railroads to ac-
cede to the terms is regarded as assurance
of advantages to be derived. The unprece-
denied congestion Of freight traffic on the
railroads OF the country is an impressive
demonstration of the high level OF busi-
ness activity and prosperity in the coun-
try.
ment the money market gave no cause for
repression of speculative activity. Call
loans fell below per cent. in the late trad
ing on the Stock Exchange.
There were some prominent laggardS In
to-day'S upward movement of prices, nOta-
bly, the Eries and the United States steel
stocks. The hard coalers did not share
fully in the strength of the market, but the
strength was fairly comprehensive and
embraced a long list of representative
stocks and also quite list of minor in
dustrials, on a speculative theory that this
class of stocks has a better chance for
future growth of values than the other
high-priced railway stocks.
There. were heavy spots in the bond
market, but enough points of strength to
make the tone irregular. Total sales at
par value were $4.050,0O0. United States
twos declined Il on last call.
Following are the days share sales and
the recorded price changes: