The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-02
BIG BULL OPENING
Favorable Bank Statement and For
eign Strength Make the
" Market Boil.
High Prices Lead to Realizing
Rock Island at 1910 Read
ing Over TO-.

New York, Sept. 2.--The stock market opened
active and strong after the prolonged holiday,
bank statement and the sharp gains in the
London market. Very large blocks of Union
Pacific Southern Pacific; Pennsylvania Norfolk
taken, the last named figuring for one block Of
$500 shares on a small range. Canadian Pa
cifc responded to the 2A-point rise in that
stock abroad with a similar gain here, and Mis-
souri, Pacific, Southern Pacific st. Paul and De-
trolt Southern preferred prices made gains of a
/ Top prices were not long maintained for the
principal leaders, traders taking advantage of
the opening strength to realize freely all
through the list. Recessions, however were not
pronounced aside from Colorado Fuel, which lost
~ points There We're many notably strong
stocks Of a minor character, particularly Detroit
United Railway, which advanced 3 points, Inter
national Silver T. and sloss- Sheffield Steel 6.
A rapid rise of over points in Rock Island to
100 and buying of some of the lowpriced south
western stocks had some effect on the general
list before IL o'clock, but prices did not as q
rule get back to the highest again. Dealings
were very large in Reading common, one block,
7Sa instance OF $4,000 shares changing hands at
Trading was very large scale and prices
moved decidedly upward during the second hour.
The market broader and there was a more
general distribution OF strength than in the
earlier dealings Purchases were very heavy
IN special groups Of stocks, particularly the
stock of prominence. St. Paul. Southern Pa
ciac and Norfolk & Western extended their
gains to about z points, while Union Pac1hc.
New York Central Atchison, Pennsylvania and
| numerous others gained over point. Detroit
United Railway jumped points in all, to 81.
while American Bicycle sold below on unfa-
vorable gossip. =
The bond market was active and substantially
higher for the active issues ut noon.
Special stocks were pushed: vigorously upward
on pool manipulation, particularly Southern IA
cihc, which advanced 2ass to 1915. Reading also
same into demand again but its 2-potnt gain
did not stimulate trading in other coalers. :,
The, market generally was dull and fract1onally
| below best prices.
| Reading worked Its way upward through an
| avalanche of stock that came out its rise
| until it tout he'd 1874, a gain since Friday s
| close of rs. Reports Of possible Termination
of the coal strike were current and there was a
gaining ~ and Delaware & Hudson z: Ana
conda and North American jumped 546A re-
spectively, but other stocks eased off. 6
per cent money rate and the congestion OF DEAL
lngs In the Readings caused reaction.
| Dealings showed considerable irregular1ty II
the closing hour: Heavy profit taking occurred
while stocks were being brought forward
into the rise. Some reactions were very sharp
| including point each In Canadian Pacific ant
Western Union, and two points in North Ameri
can and Anaconda Amalgamated was marked
| up to &c. and there was renewed buying OF Balt1
| more & Ohio, ST. Louis Southwestern preferred
and Southern Pacific, which carried them to tn
| the second preferred touching 1917, rise of 81
points. Baltimore & Ohio fell off abruptly to
| shade under Fridays close. but was rapidly BIZ
up again to 116. The market closed active ant
! generally strong
| Stock quotations reported for The Journal b.
| Watson & Co., Chamber Of Commerce, Mime
| apolis.
1ocic pric