The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-04
Very Confusing Trade Tendencies
in the Opening Hours.
+ To-day, Is ~, =. -.
The General Trend, However, Seemed
to Be Downwards-U. S. ~
+ Steel Active. ST. e.

New York. Sept. 4.-Opening dealings in the
stock market showed considerable, irregularity,
and there was pressure against some stocks
which have recently been bull leaders, notably
Reading, which lost IN. Pennsylvania, on the
other hand, rose 1 II to ITO, and United States
Steel, which was brought to the front a new
leader, sold up X, 10, 900 shares changing hands
at from AZ to 421s. Very large blocks of New
York Central, Chesapeake & Ohio and Manhattan
We're bought at a slight gain, while Atchison,
Louisville and St. Paul were under pressure. :
The course of special stocks at the opening
was completely reversed later, Pennsylvania and
New York. for instance. declining, while St.
Paul and Reading made substantial advances.
The trading was very confusing and the main
drift Of prices was downward, a break in Penn
sylvania to 1854 influencing free selling at other
points United States Steel was about the only
stock OF prominence that maintained a consistent
tendency. the price rising from 42A. Manhat
ern preferred and North American gained lag
! "a. - ....
| The rebound in Reading to, 76A almost wiped
out its opening loss, but its recovery had little
on In Which heavy sa y
fell back to yesterdays CLOSE At II O'Clock
| the market was quiet and steady. ..
Speculative interest shifted into the Wabash
and blocks. of many thousands of shares were
! bought. advancing the common and preferred
~ and ~ respectively. Heavy selling Went
on meanwhile i'll other stocks under cover Of thin
bulge and eventually prices gave way very
sharply. louisville sold points, Southern Rail
way, Pennsylvania, New York Central and some
| Otner important STOCKS Mt point or more undel
last night. Reading sold down to about the low
est and the general, list showed little sign of re
covery at noon. s2F"-.
/ Bonds were irregular. ..t
When the selling movement slackencd tn.
bulls bid up a few prominent stocks in eff
fort to rally the list Peoples Gas advanced
: points, but the general response slight an,
me market sold off again. Sloss- Sheffield Stee
and United States Cast Iron Pipe stocks ros
from to points
Trading was very feverish during the elosin
hours, but fluctuations were small. Manhattan
| reached 1894 before realizing became effectiv
and there was a Jump of 30l4 points in fir
ginia- Carolina Chemical and Cotton Oil. In til
| final trading the downward movement becam
quite general and some stocks sold at the loves
of the day. The closing was active and weak.
Heavy sales of the coal stocks rut Reading
points under yesterdays close Norfolk & West
| ern over 2, and Pennsylvania IL. The entir
market declined gradually with the Pacihcs an
| Southern stocks notably weak. A rally to 1885
| In Manhattan and recoveries of about point i
the active coalers steadied the general marke
at o'clock. New. Haven gained points an
Sloss- Sheffield Steel made its rise 51a.
| Stock quotations reported for The Journal b.
Watson Co., Chamber of Commerce. Mime
| apolis.
| Closing prices are bid