The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-14
'SAGGING in STOCKS
Union Pacific the Only Exception
at the Opening.
THEN ENTIRE MARKET ADVANCES
IL Selling Movement in the
Final Hour.

New York. Jan. 1.-THE market continued
to show sagging tendency, the oaly inf
portant exceptions being Union Pacific,
Southern Pacific and Manhattan. The changes
We're small and did not exceed a half. The
Atchison stocks were notably depressed. The
dealings were on a very small scale Open
Ing prices We're, the lowest of the first hour,
as the support to the Pacifcs induced anoder-
ate gains Of other stocks. The entire mar
ket advanced above yesterdays close, re-
c0veries reaching a point in Sugar and the
Atchisons. Manhattan made gain OF 49,
Room traders sold the market later, particu-
| larry the Atchisons, Manhattan, Sugar and
;iAmalgamated, because no general demand fol-
! lowed the recoyeries in prices The galns
were about wiped out. Lake Erie & Western
declined two points and Pullman advanced
one.
The market presented little feature until
selling of Sugar lowered it to 1l9. 1t had
been quoted at 121 earlier. Other stocks fell
| off in sympathy, but the general level was
not much disturbed. Pittsburg, c., G. st.
Louis, Hooking Valley preferred and Erie
second preferred lost point and ST. Louis Il
Southwestern preferred, Glucose and Colorado
! Fuel rose 1@1k. American Linseed reacted
21s, while Pullman advanced il all.
| There was increased pressure against spe-
cial stocks, but the general list was sluggish
! and heavy after midday. Erie stocks were
forced down l to 21a on rumors that new
I bond issue was Imminent. Sugar fell 2as UNI
| der yesterday the cut in prices OF the
product. st. Louis & San Francisco second
preferred, New York, Chicago & St., Louis
and second preferred, Northwestern, Mime
apols, ST. Paul & Sault Ste. Marie preferred
ard a few other stocks made declines ranging
| from l to so. Glucose made a gain of 3ss
without explanation
A slight Improvement in prices caused in
tense dullness after 1 o'clock, as room trad
| ers were reluctant to take stocks in view OF
| the unsettled condition of the trading. This
circumstance encouraged the bears to go
| seeking anew for stop-loss orders, and they
succeeded in shaking out some long lines IN
! various leaders, causing general dechne
to. the lowest of the day. The high priced
| specialties and the railroads were offered
more freely, notably Sugar, Amalgamated
"copper", Manhattan, Union Pacific Atkinson,
| st. Paul. Delaware & Hudson and the Read
ings T.
The freest selling movement Of the day de-
veloped during the final hour, and carried all
stocks to the lowest. Atchison, Erie first
preferred, Rock Island, Lackawanna, Sugar,
| General Electric, Consolidated Gas, New Jer-
sey Central and Lake Erie & Western lost
IL to points land the principal stocks OF the
Pacifics, transcontinentals, grangers, trunk
! lines and coalers were to points below last
night, United States Express dropped O.
There were only a few ftful rallies and the
closing was active and weak
| Bonds were irregular
| Stock quotations reported for The Journal
by Watson & Co., brokers, Chamber OF Com
merce, Minneapolis:
/ 1;,,Sr ,,,.ian ave