The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-21
BULLS OUT AGAIN
Railroad and Industrials Which Ad-
I vanced Yesterday Are Given =.
e- Another Whirl. :
Manhattan Runs Up to 154 IL and
Back to 1875 on Consolida-
49,, ." tion Reports.

= New York. Nov. 21.-The stock market opened
with some show of hesitation to-day. most of
the leading active stocks showing fractional vari-
atoms either way: from yesterdays final prices.
Interest centered largely In Manhattan which
opened on purchases Of 5000 shares Mt from 1873
to 1881, and Immediately ran up to 1914, COM
pared with 1521s last night Metropolitan
Street Railway and BROOKLYN Transit fell nearly
a point each. - s:-yr.-a -~--s.,
Bull operators took hold of the market and
bought large amounts of railroads and Industrials
which We're conspicuous in yesterdays rise.
Their strength permeated the entire list and in
huenced a better demand for numerous minor
stocks. Advances reached from to two
points In Pennsylvania, Missouri Pacific, Louis
Sugar, Baltimore & Ohio, Reading, Tennessee
Coal, Toledo, st. Louis s. Western stocks; Hook
ing Coal, Kansas City Southern and Pacific
Coast common and second preferred. st. Paul
ferred and Virginia, Carolina Chemical pre-
ferred ~ points. Brooklyn Transit and Metro
politan Street Railway rose fractionally above
yesterdays close, but fell OF subsequently and
Manhattan broke to 1871. Dealings in Man
haitian were very heavy, but the general market
moved independently OF its course.
The advance made further progress here and
there notably in st. Paul, which advanced Il in
all to 176%. Manhattan meanwhile broke to
149N, the somewhat circumstantial reports Of
its lease to the Inter-Borough Rapid Transit
company forcing large realizing sales on the
market: The stock of the latter company.
which is dealt in on the curb market, jumped
ten points In consequence of the reports. Profit
taking sales, coupled with the steady selling of
Manhattan, caused: reaction in prices all around
later, but at noon the market was rising again.
The bond market was more active and higher
at noon
Trading developed buoyant tone under the
influence of the enormous absorption of proIni-
nent speculative leaders. st. Paul was easily
the feature, advancing 4ss and touching 177%.
Louisville, Missouri Pacific, Rock Island pre-
ferred and Amalgamated rose from IA to ,2s4,
while gains of a point or more were general
elsewhere. The belief that important deal is
on in the local traction situation was the most
important influence on the market and had much
to do with the heavy covering by the short in
terest all through the list. The heavy buying
orders were executed again in Manhattan, and
the prices rose zsteadiy to 1924. Brooklyn
Transit and Metropolitan Street Railway were
neglected and sluggish. p:
Business quieted down considerably and there
were some recessions profit taking, but the
markets strong undertone was not much i'm
paired and some stocks continuerd to rise vigor-
ously. Rock Island issues were bought in
incense blocks bringing the common above 46 and
the preferred to S11a, the later figure represent
ing gain of points. Manhattan fell back to
151. -.
Wall street discussed with great interest the
reports in circulation to the effect that the Inter
borough Rapid Transit company, which is to op
era the subway lines, had obtained control Of the
Manhattan Elevated company. No official confir
nation or denial of the rumors was made and nc
person in authority in either of the corpora tons
was willing to be quoted concerning the alleged
deal. . arre !; .. : Il ,;;.. 49,
Mania ttan~stock sold as high as 154ls and as
low as 14O3s on the, stock exchange during the
morning session. The demand for the stock was
comparatively light. 1ri1e feature Of the curb
market was the bidding for stock Of the Inter
borough company, both the full paid and the
40 per cent paid. Offerings We're meagre, how.
ever and only one sale vas reported, the price
being 12o, an advance, Of. 10 points from yester,
days close.
The bulls maintained their control Of the mar.
ket and experienced little opposition in pushing
prices steadily upwards st. Paul maintained
it's supremacy in the market and improved stead.
lily to 179A. Missouri Pacific, Southern Pa.
cifc, Union Pacific and Reading and all other
level, rejecting gains H. many. cases Of over
points. The specialties we're quiet Manhattan
though recovering to 1872 was quite feverish
The market closed active and buoyant
Stock quotations reported for The Journal by
Watson q Co., brokers, Chamber Of Commerce,
Minnea noliS Closing figures are bid.