The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-15
"a VIOLENT OPENING
Breaking Prices All Through the
List on a Flood Of Liqui-
T dating Orders.
Supporting Orders Met, but Second
Selling Movement Soon -,
Sets In.

tb New C,t2 York aad Pee IL number Of banks Of
ilp pool o. OF 100000 600 to lend in the money mar
Ket Ill the event Of on actual emergency.
New York. Dec. 15.-Prices broke violently all
through under: heavy flood of liquidation al the
opening all through the list The prices of prac.
ticnlly all Of the principal stocks lost from ! to
points; me selling was largest in the United
n.ates steel stocks, Southern Pacific, Atchison
and ROCK lslaEd The first sales of United
States Steel We're OF 5000 shares at 3O3b and
3OH compared with 3OA Saturday, and of the
preferred there were 1000 shares sold at a loss
or 1 ~. There We're 5000 shares of Southern Pa
c1hc sold at 57le and 561a, compared with SO
on Saturday. Elsewhere in the list there We're
numerous sales of 1000 to 5000 share blocks
Active stocks met supporting orders after the
opening plunge downwaris and there were quick
rallies of about a point in st. Paul, Louisville.
Missouri Pacific, New York Central, Southern Pa
cine. Reading, At:nison and BrooklyE Transit.
Smelling recovered points and Rock Island
and Sugar sold Is above last weeks close. Mean
while there was steady fall Of l to 2 points
In less prominent stocks and break Of in
Hooking Valley and Colorado Fuel and Of S in
American Express. At II o'clock the market was
Welding again..
The violent measures adopted in the Venezue-
Ian trouble We're the professed reasons for heavy
selling of stocks, but difficulty was still found
In obtaining loans that call money opened
at 10 per cent. Various large payments of syn
dictate. subscriptions and dividends helped to en-
barrass the money market During the second
hour declines of = to 2A were scored by leading
stocks, amongst the trunk lines, coalers, Pacifics;
grangers, SouthWesterns and specialties Colo
RADIO Fuel dropped and Rock Island preferred
3A.. The Paci6cs and Pennsylvania group were
most affected on the second selling movement
These stocks and st. Paul, Louisville, Rock Is
land preferred, Reading, New York Central
Sugar and Brooklyn Transit recovered point OF
more in the rally that followed. The market was
dull and steady at noon. . =. .,,~.,
/ Further recoveries We're made all around result
ing in reducing losses to small proportions in q
number of leading stocks The rebound carried
Sugar, New York Central, Canadian Pacific
Chesapeake & Ohio, Louisville, Reading, Della
ware " HUDSON, United States Steel and Rock
| Island Il fraction above. Saturdays close. Vir
ginia-Carolin Chemical preferred rose points
Speculative conditions underwent but little
change during the early afternoon. Prices
moved steadily but slowly upwards on aggressive
buying orders which pretty well distributed
among the usual farorites.
The strength Of the market was explained by
the reports that a protective pool had beer
| formed amongst the bankers to provide $50,OOO
900 for the money market. The advance ir
prices beyond Sa turday's level, however, mel
free offerings and there were reactions of poin
or more in st. Paul. Mania titan and Sugar. The
advance was renewed and net gains of a point
or more established in Louisville, Rock Islanc
and Reading.
Movements became slightly uncertain at the
last and the market was dull but the underton'
was firmer. ,....
l. Bonds weak at noon.
| Stock quotations reported for The Journal b!
fpQV