The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-09-09
STOCKS UNUSUALLY DULL
WITH FEW EXCEPTIONS THE MAR
kET Is PRACTICALLY INERT.
UnimpOrtant Advances and Insignia
cant Declines without Cause or
intermediary Holds steady.

NEW YORK, Sept. s.-Unusual dizziness
even for this period of the year character
lied to-days stock market. Elements of
interest were entirely lacking and the
volume of business was dsappointingly
small in view of the triple holiday and the
apparent intention of the secretary of the
treasury to relieve any strain on the fall
movement of currency. Opening prices re-
fiected a firm undertone, local traders TAX
ing courage at the higher range for Amer
leans in London. Last weeks buying of
Atchison shares was resumed and some ac-
tivity was shown by Canadian Pacific,
Southern Pacific, Rock Island and Wabash
preferred The buying of the Pacifics was
reported TO be for foreign account, London
being factor in the days operations, trad
ing in about 10000 shares Commission
houses took virtually no part in the bust
ness of the early day.
The list sagged generally after the first
Hour, all the active stocks losing their ad-
vance and at times thereafter the market
was absolutely inert Here and there.
where STOCKS were pressed for sale, prices
yielded readily; for instance, Reading
which was sold for Philadelphia account
The early afternoon brought "a movement
In several of the specialties, North Amer
lean advancing z12, Colorado Fuel ~ and
Consolidated Gas M. No significance at
tached to the advances in these shares.
Some OF the early selling of Amalgamated
Copper was traced to houses with Boston
connections. The stock closed at the low
est figure of the day iii spite of an advance
In the price of the metal at home and
abroad. In the final hour there was some
Short selling of such stocks as St. Paul,
Atchison, Rock Island and the Western
group generally, and Brooklyn Rapid Tran
sit, induced in part by reports of labor
troubles on the Lehigh Valley system. The
market closed dull and heavy.
Some excellent railway earnings were re-
ported, notably St. Paul, which showed a
net increase for July of over $3.50 600. New
York Central, Norfolk & Western, Mexican
Central, Texas & Pacific and some of the
minor lines also showed material gains in
gross earnings The feature Of the foreign
exchange market was the appearance for
the first time this year of bills covering
not appear, however, in quantities suffi-
cient to weaken rates for exchange which
held firm at $4.S5.50 for demand. But the
very fact that such bills were released
was taken to mark the beginning of a lower
export movement for that staple. Ex-
change brokers for weeks have been look
ing forward TO the Inauguration of this
movement as affording the best basis for
where gold could be used as a form of
remittance. Locally the monetary situa-
ton was unchanged Additional gold i'm
ports from Australia were reported and
posted at San Francisco were made by the
SubtreaSury.
The bond market was rather quiet and
showed some irregularity in the early deal
and closed steady, despite the heavness in
stocks: Total sales at par value, were
$l.265O0O. United States new fours adj
vanced Il per cent. and the twos y per
cent on the last call.
Following are the days share sales and
the recorded price changes: