The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-19
MANHATTAN AT l5O.
An Unexplained Advance Of 18
Points Within the Last
Few Days.
Liquidation at the Opening Is Offset
by This Activity Colorado
Fuel Jumps, ~.

New York, Nov. 18.-Liquidation, was renewed
at the opening of the stock market to-day and
the downward tendency was largely. assisted by
the weakness Of the London market 'Yesterday's
notably weak stocks bore the brunt of the
selling, st. Paul, Union Pacific, Louisville, Ca
madam Pacific, Baltimore & Ohio and Amalga-
mated Copper losing from l. to ~. Colorado
sFuel dropped s. Manhattan was the only conspic-
nous exception, closing yesterday at 1925 1t
opened wide, advancing to 1875, with about
5000 shares changing hands In the first few
transactions. -@- = -
Speculation in Manhattan was of sensational
character. large blocks being absorbed
about 8 points to $50 in less than half an
hour: The demand was SO urgent that bids for
the stock were advanced u to 1 per cent be-
tween transactions. The movement was attend
cd by a revival OF old rumers such as prOspec-
tive rights to stockholders and the lease to the
New York Central OH guarantee dividend basis.
The price subsequently fell off to 147 and was
less active The general market, after recov-
ering somewhat from its opening decline, fell off
to q lower level When Manhattan's rise culmi-
mated other stocks advanced decidedly, Missouri
Paul., Canadian Pacific, Louisville and virtually
all of the earlier weak stocks rallying a point
or more. Colorado Fuel juIpped4 points from
the lowest, while Delaware & Hudson lost 81.
| The extraordinary strength and activity Of
Manhattan Railway shares in. the face Of an
otherwise weak market, attracted much atten-
| advanced IS points in the last few days. ALL
sorts or run1ors and reports were In circulation
to- account for the rise, but nothing in the way
+ OF an official statement was issued.
Traders sold the list again and depressed some
| Of the leading railroads to the lowest level.
Prices in the main reacted to about the earlier
low point and dealings were less active Man.
haitian was steady around 147 for long time
but shortly before noon ran up rapidly again to
near the highest Bonds were slightly lower at
noon.
Large purchasing orders appeared Simultaneous
ly in the list, following the renewed rise in
Manhattan and the standard railroad stocks
rose strongly. st. Paul. Pennsylvania, New
York Central Reading. louisville and the Pa
cifcs recovered to about yesterdays final fig
| ures. Manhattan yielded later to 14S, but
| Brooklyn Transit took it's place as specula-
tive leader, advancing quickly to 615s, compared
with 5S1a yesterdays close. -.
A violent buying movement broke out in the
local traction stocks led by Manhattan, which
scared on points to 1919, followed by Metro
politan Street Railway and Brooklyn Transit,
which gained eh and 67s points respectively. j..
combinations ETC., which lacked confederation
from official sources. Third Avenue Railway
also jumped three points, and Consolidated Gas,
| which had been down to 209, rallied to 212 The
was very beneficial shorts buying very heavily
and lifting prices we'll above yesterdays close.
Sugar, Missouri Pacific and Reading made gains
of a point The traction stocks fell OF
and the general market also became reactionary.
Stocks quite feSerish In the closing hour,
wide fuctuat tons in St. Paul and Manhattan pro-
ducing erratic movements in the general list
the day, but towards the close the market livened
up again and grew stronger when St. Paul sold
near 173. The closing was strong.
Stock quotations reported for The Journal by
| lis.