The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-26
MONEY OPENS AT Il
Prices of Stocks Which Had I'm
proved Showed Another
Falling Off. "
Effective Support of st.Plau Puts the
Stock at 1877 IA and Helps
. the List.

New York. Sept. 26.-Louisvile made an up
ward rush of three points in the opening dealings,
st. Paul Il and Pacific Mail point One or
two important speculative stocks, showed &C.
clines, but the general tendency was upwards,
gains reaching n large fraction in number of
cases. Hope ofrelief for the money market
by the measures proposed by the secretary of the
treasury was the influence in the buying.
Room traders fed the commission house de-
mand literally WITH profit taking stock which
soon stopped the rise The market then became
reactionary and Missouri Pacific Louisville and
Reading first preferred declined a point New
buying orders appeared later and there some
dlspo sd;t to share in the bulge in St. Paul
about the opening level, and the undertone be-
came strong. =. - 8
Prices fell off again when call money opened at
IA per cent Yesterdays violent drop in the
loaning rate. in the afternoon. aroused new
hope that rates would be less stringent. "
The decline in volume did not make much
Roadway and effective support of St. Paul pulled
the list up strongly. and number of representa-
tive stocks made gains of one to two points. St.
Paul was bought in large blocks and touched
1914. gain over. night of nearly four points.
The buying was based rumors that distri-
button of large stock rights was imminent.
Louisville jumped to 1913 on reports of settle
ment of the question of control, and Atchison.
Illinois Central Missouri Pacific. Reading Wa
bash preferred. st. Louis Southwestern preferred,
New York Central, Colorado Fuel. the fractions.
AmalgamateQ and Canadian Pacific were one to
two points higher.
International Silver dropped eight points for
the preferred below Yesterdays price.
Bonds were firm at noon.
The market was easier during the noon hour,
| Louisville and st. Paul reacting a point. Trad
| ing became very dull. Manhattan, American
Car, the Pressed Steel Car stocks, Locomotive
| and Cotton Oil continued to. advance in the face
| of reaction elsewhere. Northwestern also rose
| three points. ., --,.
| The offer Of Secretary Shaw to buy govern
| ment IS at 105 did not meet with much response
| in the market: Meanwhile Manhattan continued
| to forge upward and touched 1885. while the
| independent steel stocks and other specfalties
| continued upward. Before O'Clock fresh orders
| appeared for Missouri Pacific, Pennsylvania. St
Paul Illinois Central. New York Central. Atchi-
son and Sugar, and Tin rose to the highest.
There We're advances by a few .specialties, but
| the lis tgenerally sold off the money rate
stiffened again: Lead rose 35a the preferred
IN. International Pump 2as and Western Union
over point. The reaction run to points fol
Louisville and point or over for St. Paul, Read
ing. Pennsylvania and Missouri Pacific. Tho
closing was moderately active and steady
Stock quotations reported for The Journal b!
Watson & Co., commission brokers, Chamber o.
Commerce, Muneap polls. Closing figures are bid