The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-27
WALL STREET DOLEfUL
STOCK MARKET AGAIN REPORTED
LISTLEsS AND APATHETIC.
Steel Preferred Was the Most Active
Sold Down, but Recovered Grenter
Part of the Loss.
.197,1OO
Sales of stock shares.

Sales OF stock shares. ICs sAVV
NEW YORK, April 26-To-day's stock
market was even more listless and apa-
thetic than that of yesterday. The free de-
Ginning tendency of yesterday was arrested
but this discouraged rather than fostered
activity. What the traders require is
movement of prices whether up or down.
The arrest of the decline therefore prompted
the retirement of the light contracts that
had been put out on the short side. The
movement had no news to account for 1T.
and there was no symptom of any large de-
mand in any quarter. United States steer
preferred the most active stock, and
its recovery was in face of the practical
confirmation of the report prevalent yester-
day of the early dissolution of the pre-
ferred stock conversion syndicate, on winch
the stock declined then. The second mort
gage bonds were sold down In the early
market to the extent of point. The selilnS
was attributed to members of the syndicate
TO provide cash to meet the expected call
to complete the payment for that portion OF
bonds for which the syndicate agreed 10
pay cash, or against the expected dellVery
of bonds which the syndicate is still TO re-
ceive. The point was made that the ngnt
buying of steel for the account of the rail-
roads is due to their inability TO place BOND
issues as desired. But this view CONNECTS
with the argument that the large temper
airy borrowings by the railroads are TO con-
tinue improvements to which they were al
ready committed before the blockade in the
bond market
Another note issue announced to-day by
subsidiary company of the Metropolitan
Street Railway was explained to be Tor the
reimbursement of the parent company for
improvements already made, and for which
the bonds provided could not be marketed
An initial engagement of gold for Thurs
days steamer was made to-day and bills
sold in the exchange market were supposed
TO be against other shipments in contem-
plation. The attorney general was quoted
as saying that the formal transfer of the
payment for the Panama canal payment
would be made in two or three days, which
strengthened the belief that the gold outgo
Is provision against the coming remit
tances for Paris. The money market was
entirely unaffected, the demand for time
loans being little more than nominal
Weekly gross earnings of railroads report
ing were lower than last year, and the net
increase for March reported for the Atchi-
son was without effect on that stock.
The weekly bulletin of the weather bureau
on the crops was not a helpful factor, in
spite of the improved condition reported in
the large producing section. The continued
delay in the spring wheat planting and the
prospect of its prolongation was regarded
with solicitude over the dangers thus i'm
pied for the coming crop. The appearance
or bets on nominations ard election of presi-
Dental candidates on the curb is a re-
minder of a repressive influence on the mar
ket destined to gain in influence. The re-
covery of a large fraction in United States
Steel preferred was the only movement of
any significance in the days market. The
closing was heavy and stagnant.
Bonds were irregular. Total sales, par
value, 81, 030, 900. United States twos declined
Is per cent. on call. Range of prices: