The Minneapolis journal., 1901-01-21
In LARGE BLOCKS
Stock Is Thrown on the Market a
the Opening To-day.
LONDON DEPRESSION REFLECTED
Some Notable Deciines-A Rally in
Some of the StOeks-BOnds
Are Easier.
LONDON DEPRESSION REFLECTED

New York, Jan. 21.-Trading opened with
large blocks. Of stock thrown on the market
to liquldate speculative profits or to save
losses The only stock that was notably
supported was Missouri Pacific, which opened
off Il and was Immediately bid up 1s1 to ST.
The depressed condition of the London mar
ket was reflected in the weakness of inter-
national stocks, many of which opened at
declines Of between 1 and points, with
evidences Of an effort to support prices here
and there. There were wide openings in
Erie, Atchinson and Rock Island on sales
Of from 5000 to 4,60O shares. Amalgamated
Copper was acutely depressed at an ex
treme loss Of 31a and the steel stocks were
all weak at declines Of to 2 points Fed
eral Steel and Tin Plate were most affected.
The opening quotations in Rock Island varied
112 from 119 to 1171e compared with 1885 on
Saturday and. the other grangers were de-
pressed over point Sugar, Peoples Gas
and the local fractions lost over a point,
Pennsylvania showed especial weakness at
a loss of 2%. Trading was active and large
blocks came out at the decline.
A rapid decline in special stocks had
denAoralizing effect on the market. and
prices melted away rapidly. st. Paul lost
39s in all, Pennsylvania S1s, Republic Steel
preferred and Northern Pacific 3 points.
Elsewhere losses were from 112 to 3 points.
Support to Missouri Pacific carried it above
the opening price to SSA. Many other stocks
made quick rallies of a point or so, but be-
came very feverish on the rise. Amalga-
mated Copper recovered 31s and then fell
below sc again.
Business decreased considerably but the
rally continued to gain force and reacted 2
points or more in the stocks which had suf
fered most acutely. Special strength devel-
oped in few stocks, which rose above Sat-
urdays closing. American Tobacco, Sugar,
Peoples Gas, the Southwesterns, the local
fractions and the eoalers were notably firm.
Bonds were easier in tone.
After midday the Wabash securities be-
came buoyant, the common rising 21A the
preferred and the debenture bonds points.
The Southwesterns were firm in sympathy
and Western Union rose ~ over Saturday
United States Express dropped 31a and Steel
and Wire preferred 212. The market gen.
orally was firm but quiet.
When, later. the speculative demand for
the Wabash issues abated, sharp losses fol-
lowed which affected the general market St
Paul, Baltimore & Ohio, Northern Pacific,
Brooklyn Transit, Manhattan, Metropolitan
and Erie first preferred were offered freely
and lost over point. The steel stocks were
/, inclined to yield. The whole market was
unsteady, but continued dull.
There was another rally in active trading
| in the final hour, which carried many stocks
to the highest of the day and left very few
traces of the early declines Missouri Pacific
rose to 90% and Brooklyn Transit was con-
spicuous for strength. Flint & Pere Mar
quette rose 3. Pressed Steel Car was prac-
tically the only exception to the markets
| strength and extended its loss to 81. Anal
gamated Copper and st. Paul rose above Sat
| urdays level, the former more than a point
There were enormous dealings in Missouri
Pacific and its reaction of a point checked
the buying elsewhere The closing was active
and firm at very near the top prices
| Stock quotations reported for The Journal
| by Watson & Co., Chamber of Commerce,
| Minneapolis: