The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-03

MOVING IN WALL ST..
Stocks Gallop Around in a Rather
Dizzy Way.
NERVOUS AND EXCITED STILL
Good Supporting. Orders Are Mani
fest In Number of In
stances.

New York, May 3.-This weeks stock
market has been disturbed by the sharp
rise in money rates and the collapse Of
International Power, which had the eff
feet of weakening the confidence in other
recent price advances and aggravated the
unsettlement due to shifting OF loans. The
varying weather news from the crop re-
gion was an influence on stocks at times
and the failure to settle the anthracite
coal labor situation had a bad influence
upon speculation There were sharp ad-
vances in special stocks which kept the
market spotty but without much sustain
ing influence on the general list.
the opening to-day was nervous and
excited. Large support was accorded
| to pennsylvania at rise of IL and
Louisville was lifted 81, but stocks were
unloaded heavily in other quarters
Rutland preferred opened unchanged
and Immediately dropped 2. st. Paul also
opened. unchanged on the sale of 100
shares, but the next 5000 shares sold SIM
ultaneously at an extreme decline of IL
and the stock receded further.
Illinois Central dropped 3R, Colorado
Fuel 33s, Brooklyn Transit 21a and Mime
apolis & st. Louis rs. The Coalers and
number of the Pacifcs fell between 1
and points and American Locomotive
preferred dropped 15s. international
Power was lifted 3 points. Supporting
orders were manifest after the opening
and they rallied Colorado Fuel points,
Illinois Central IL and Locomotive pre-
ferred point. Rutland preferred also
rallied points
There were some notable drops in prices
| among inactive stocks after the opening,
but the readiness with which offerings
were taken of the active stocks and the
effective rallies quieted apprehension and
created the Impression that means had
been found to avert failure from the in
terests whose securities collapsed in the
market yesterday. There were rallies of
l to points among the Changers, Pacifics,
| Coalers and high grade specialties and
prices were lifted over last nights level
for Missouri Pacific, Union Pacific, United
States Steel, Amalgamated Copper and
| others. Sugar rose 13s over last night
and Tennessee Coal IL. On the other
hand Louisville and Pennsylvania lost all
their gains. There were losses of 81
| in American Express, in Northwestern,
6 in Westinghouse electric all on single
sales, and declines Of 3A in General Elec-
trio, 2B in Buffalo, Rochester & Pittsburg,
23s in Duluth South Shore & Atlantic pre-
ferred and 1 to 2 in other stocks. Some
CT these made substantial recoveries. The
rally in prices was not we'll held, some
stocks falling back to- the lowest but the
market was much quieter.
The market was dull into the second
hour but was feverish and heavy. St.
Lawrence and Adirondack was quoted at
+ so bid. 120 asked compared with 80 bid
/ no asked last night. Peoria & Eastern
fell and New Jersey Central and In
ternational Pump preferred dropped 2a
@3 Louisville fell to 1922 after sell
ing at 1917 and then rallied to 1874 which
WAS last nights price. international
Power dropped back T to IS, but rallied
! to co.. The bank statement was less I'M
favorable than expected, owing to the
| unexpected increase in cash and prices
! hardened after its appearance. The bid
! for St. Lawrence G. Adirondack was ad-
vanced to 75.'pLosses were largely wiped
out and gains reached point or over in
| Missouri Pacific, Pennsylvania and others.
| Canadian Pacific rose and Sugar 2as.
| Northwestern rallied and Westinghouse
rallied 8. The closing was active and
strong. =...3 ~.
Stock quotations reported for The Journal
by Watson & Co., brokers, Chamber Of Com
merce, Minneapolis: -
Closing figures are bid.