The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-12
STOCKS DULL BUT FIRM
ATTEMPT TO ADVANCE PRICES YES
TERDAY WAS NOT SUCCESSFUL.
Hesitation Was Due Somewhat to
Hearing To-Day of Hartman Suit
at st. Paul-GeneraI Outlook.

NEW YORK. April 1.-THE stock market was
at a standstiH almost for the greater part of
the day. but lost little ground
Prices started upward with vigor and
there tentative attempt TO extend the ad-
vance by developing points of strength upon
which to sustain prices. as was successfully
done last week. but the attempt met with less
success to-day.
The marking up of prices less bolG and
comprehensive. and the stocks chosen for lead
were of less influence upon the sentiment.
the list of most effective leaders having been
pretty well over by the succession of move
ments already made.
The more prominent stocks, on the contrary,
now subject attempts take profits in
them. and SO more effective the side of
reaction. Such efforts profit taking were
obvious to-day but not pursued at the
expense of values. and there was little urgency
in the selling.
The consequence was return to a dull and
sluggish market but with undertone OF
good resistance and apparent disposition to
await favorable Developments. News bearing
the stock market conditions was not impor-
tant and was no, of much influence.
IL is probable, however, that the hesitation
of the market was due. in part, to the pending
hearing, at st. Paul tomorrow, the motion
ern Securities assets
Reported interviews with the principals to this
as NOT 6Fea5hed spirit of hr tns
weighed upon by a conviction that the inside
mystery OF this proceeding and the stock market
operations in Union PACING is still hidden
IL was known also that the government report
on the list OF April condition of winter wheat
would not appear until after the stock market
closed, and there feeling that knowledge
OF its tenor would be desirable before proceeding
With market operations.
The almost buoyant tone of the London market
helped the opening strength here. Abundance OF
money is reported available in all the worlds
markets, but the course of surplus funds seems
TO be toward Paris. Shipments made of
gold to-day to that destination from London and
slOOOeOO was engaged here. The tendency TO &C
cumulate funds there will arouse some renewed
surmises of possible loan. The money
market in London is relaxing and an early reduc-
ton in the Bank of England discount rate is
looked for The extreme easy of money here
facilitates the outward movement Of gold.
The statement of this country's foreign trade for
March enforces the showing of former months
in explanation of the in the foreign
changes. Grain and cotton exports alone fell
more than $50. 900 in value below those of
March last year. If last months expanding
tendency of imports is still maintained the inn
pairment of the trade balance in favor easily
explains the outward movement of gold.
Railroad traffic officials speak confidently Of
the outlook for future traffic, but admit de-
cline in the present volume.
a renewal of the advance in Union Pacific
freshened up the late market to-day, but the
gains moderate.
The bond market was also irregular and less
active. Total sales at par value were s., 265 000
United States bonds were unchanged.
Sales and