The Minneapolis journal., 1901-09-13
DECLINE IN STOCKS
Heavy Losses Result From the
Presidents Relapse.
ST. PAUL THE HEAVIEST LOSER
General Selling Causes Prices to
Give Way After IL Partial
Rally Had Come.

New York, Sept 1S.-Conditions were ner-
vous and excited in the financial districts this
morning before the stock market opened, and
the wide declines in the London market gave
an index of what might be expected at the
opening here as a result of the president
relapse. The first transactions showed senti
ment demoralized. Blocks OF 1000 to 5000
shares were thrown on the market at the
opening, and further sales of equal volume
followed each other in quick succession in
the downward grade of prices. St. Paul,
Union Pacific, United States Steel stocks and
Amalgamated Copper were most acutely af-
feeted, st. Paul dropping suddenly 6 points
on a wide opening at 1571z to 155 as the price
OF the stock. Union Pacific loss was SIS
within the first few minutes, and Amalgamat-
| ed Copper AS. Republic Steel preferred AS,
Atchison 3A, Brooklyn Transit 81, Erie 31s,
New York Central 81, Rock Island 8, Ten
nessee Coal United States Steel stocks 27s
| each, and the principal active stocks as a
rule from to 3 points.
There were some slight momentary rallies,
| but the market continued excited and fever
jsh.
trading was highly sensitive, and although
| the lowest prices were made within a few
| minutes Of the opening, the substantial raj
lies OF from to 2 points were not we'll held,
owing to renewed heavy liquidation. Inside
| interests supported various stocks but the
| readiness with which prices gave way when
| any large amount OF stocks were offered dis
| couraged long buying. Toward II o'clock the
| entlre hst was running off again, and such
| Ieaoers as Sugar, Southern Pacific and Anal
! samated Copper fell below opening figures
| mere was another rally and a decrease in
ACTIVITY, but prices were shifting and un-
table.
The general selling increased during the
second nour and prices gave way all round
| Low prices were made by many prominent
| STOCKS, with the selling of Amalgamated Cop
per- the Pac1f1cs and grangers usually large
me united States Steel stocks were also
onered freely; the common declining below
! a. extreme losses extended to in Rock
island and Great Northern preferred. 5 OF
over IN Amalgamated Copper, St. Paul, Della
ware & Hudson, and S1S in General Electric
Amalgamated Copper sold down to 1O4%
! loss OF 67s. Some other active stocks fel
! loWer than any forenoon price, especially
Atcnlson, Manhattan and the United State,
oteel STOCKS. Covering by the short in
| terests caused several recoveries before
O'CLOCK and trading became quieter Anal
gamated Copper rallied 2A and other promi
nent stocks point or more
Call money rose to per cent and room
| traders sold the market. Declines were no
severe and the market became dull, an,
steadler again as offerings decreased. New
from Buffalo was anxiously awaited and oper
ators IN stocks were disposed to do 1ittI
pending Official bulletins of the president
| condition.
Liquidation was renewed in the final hou
IN fear OF the outcome of the nights events
! Some large blocks of Pacifcs, ST. Paul an
Erie came out, selling these stocks lower thai
before The market steadied again, but di
not rally with effect. The closing was fever
lsh and irregular near to the low point.
Bonds were very weak for speculative is
sues.
Stock quotations reported for The Journa
/ Dy Watson & Co., Chamber Of Commerce
| Minneapolis, MINI. 80
Closing prices are bid