The Minneapolis journal., 1901-01-04
RALLY In STOCKS
Market Opens Weak in Sympathy
With London.
THEN THE WHOLE LIST GOES UP
Demand Is Especially for Dividend
Paying StOcks-BOnds
Are Weak.

New York, Jan. 4.-London made large in
roads in prices OF Americans, the losses
there extending to points in Pennsylvania.
The opening here was weak in sympathy,
and the international stocks were most con-
spicuous on the decline Pennsylvania
opened down points and a number Of others
showed losses of upwards of a point In
some stocks there were supporting orders at
the low level, which caused quick rallies and
in some cases complete recoveries. This was
true OF st. Paul, Missouri Pacific and Union
Pacific. Sugar opened unchanged and jumped
z points on two successive sales, and contin-
ued ITS advance at a more moderate pace.
Brooklyn Transit and Manhattan were also
strongly supported after declines Of over a
point.
Speculation was very uneven, some stocks
rising strongly, while others showed marked
weakness. Broadly considered, railroad and
miscellaneous stocks selling in the forties and
under were liquidated temporarily, while div
ldend-paying stocks were bought There
were some notable exceptions in the latter
DIVISION, including Great Northern, Canada
southern, General Electric, Rubber preferred
st- Paui preferred and National Tube which
lost from l to 2%. Several declines were
MADE by Steel Hoop, Erie second preferred,
Reaoing second preferred, Pacific Mail, Fort
Worth & Rio Grande, Denver G. Rio Grande
~.
ern preferred. Among the stocks showing
especial strength were Missouri Pacific, which
rose S12 and other Pacihcs, the grangers.
Deiaware d. Hudson, the steel stocks, trunk
ines anu traction groups and high priced in
uustrAals, which rose 192 from the lowest.
AL IL O'Clock the entire list was rising
strongly.
Inc rise in stocks gained force, and the
majority OF stocks sold well above yesterdays
closing price. In the case of Sugar the rise
was IA, to 140A, and Consolidated Gas. Della
ware Hudson, Missouri and Northern pa
cine and New York, Chicago St. Louis
second preferred sold 2A@21b above The
Harhel olo not show any of the usual efforts
70 reallze on the way up except Sugar, which
recovered strongly from each momentary dip.
Lake Erie & Western dropped 81 and Ameri-
can Express 3. General Electric rallied 4
JUST before noon st. Paul was rushed I'D to
lOV34' which was 81 above the low point and
more than points above the ruling price for
Pennsylvania.
comparison of the low prices at the
opening, with the top prices recorded at 3
o CLOCK and taking representative stocks of
eaen group furnished the only adequate illus
uaelon Oh the rampant bull speculation In
progress. st. Paul, from 145 to 1557: North
ern Pacific, sos to S61S; Tin Plate. IS to So
sugar, 1S6 to 142; Erie first preferred. 61a
", HeHnsyIVanla, 145 to 149A Great
Northern preferred, 1873 to 194h, and Met
ropoltan, 165 to 169. Outside of these. strik
ing gains were general. Reiterated rumors Of
lease OF st. Paul to the Northern Pacific
and Great Northern with guaranteed diyi-
dend OF per cent rising ultimately to per
cent, accompanied the rise
There was momentary setback after .
Q clock which carried ST. Paul and Sugar
down about each and Great Northern pre-
ferred 21a. An upward movement in Penn
sylvania and the coalers carried prices to the
highest level of the day. Pennsylvania rose
above 15l, New Jersey Central 1853. Delaware
& Hudson 1872 and the Readings were BUOY
ant Northern Pacific touched $685., st. Paul
l6SA, New York Central 145 and similarly
extraordinary prices for various other rail-
road stocks. The market was very feyerish
at the high level and fluctuations became
erratic Rubber preferred broke points.
The closing was excited and violently active.
with prices Of some stocks a point or more
below the best and others at the top level
and rising buoyantly.
Bonds were weak, in marked contrast to
stocks
Stock quotations reported for The Journal
Dy Watson Co., Chamber of Commerce,
Minneapolis: