The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-10-15
TALK ABOUT SHAW
Wall Street Has Hopes Of Some Good
Bond Purchases by the
Government.
The Market Is Easily Swayed To-day
and Moves in Both
49,. Directions. ~ !

New York, Oct. 15.-There was a general dis
position to take profits at the opening of the
stock market and the tendency downward was in
Iuenceo oy the heaviness Of the London market.
1'eallngs were only moderately active and largely
concentrated in the Pacihc coalers and few
lndustrMls = Losses reached about a point in
Annals amated Copper and Canadian Pacific and
important fractions otherwise except for ST.
Paul and Reading, which were supported. .
Scale buying orders were met before the reac-
ton proceeded far, which turned the course Of
prominent In the rally and rose to 1904, a gain
over night of r. Brooklyn Transit, Metropoli-
tan Street Railway, Tennessee Coal Cleveland,
cincinnati, Chicago st. Louis and Hooking
valley preferred also made similar gains. Anal
gamated Copper rallied u from its opening fig
ure and the market generally rose well above
yesterdays final prices. Large blocks of United
States Leather were bought, bringing that stock
into prominence after long period Of neglect.
The market showed some hesitancy and yield
ed slightly, but gained renewed animation and
strength on rumors that the monetary situation
would be much relieved by further large pur-
chases Of government bonds by Secretary Shaw
The amount involved is said to be from SO, OOO,-
900 to $25, 100000, but there was nothing au-
tnentic 10 De nao regarding the report A more
confident feeling existed that an amicable settle
ment would shortly be effected Of the coal strike,
which induced some large purchases of coal
STOCKS. Reading was prominent in this con-
nectlon ana rose strongly, ss did Pennsylvania.
Prices all around were marked up rapidly and st.
Paul, Louisville, Illinois Central Union Pacific
and the southwesterns and various specialties
were materially higher. Metropolitan Street
Railway made an exceptional rise of "a. At
noon the market was very quiet and practically
below the best.
Bonds were steady at noon, ,
Business came almost to standstill but the
undertone was frmer and prices gradually
throughout under the lead Of st. Paul. which
touched 18TH.
Trading during the afternoon was marked by
occasional spurts Of activity and higher prices,
advances over night reaching two points In ST.,
Paul, Missouri Pacific and Illinois Central and
about a point In many other leading stocks.
Traders took profits frequently and there were
some important recessions with the market fall
Ing into dullness the decline.
The sluggishness Of the market, coupled with
the scarcity of buying orders, induced profess
sional realizing and short selling, which lowered
more from the best. These included st. Paul,
louisville, Missouri Pacific, Illinois Central.
Reading, Amalgamated Copper and Sugar. Buy
ing BY the shorts rallied st. Paul and Missouri
Pacific to about the highest again, but the gen
eral market did not respond much and closed dull
and easy.
Stock quotations reported for The Journal by
Watson & Co, Chamber Of Commerce, Mime
oEolis.
Closing prices are bid.