The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-07-17
IT OPENED STRONG
Active Bidding fol. Stocks Pushes
Up Prices.
"A RATHER ABRUPT RELAPSE
Profit Taking Was So General as
to Cause. Some Mis-
givings. -,

New York, July 1.-THE stock market had
strong and active opening with a prefer
ence shown for the Iower-priced railroad
stocks. There were $500 shares of Chesa-
peake 4 Ohio sold at 531s to 81, compared
with 5S9s last night. Colorado Southern rose
Ia or heavy dealings. Reading, Norfolk &
Western, United States Steel preferred, Ten
nessee Coal, New York Central and some Of
the SouthWesterns rose. q sharp fraction.
ROCK Island, after opening unchanged ad-
yanced a point, and St. Paul more than re-
covered slight opening loss
The market was exceedingly active and
broad during the first half-hour and num-
Der of stocks mounted buoyantly. Evidences
of profit taking and rather abrupt relapse
in some of the most prominent stocks
aroused misgivings and the activity of the
trading decreased materially. Colorado
Southern ross IN, the second preferred IL,
and the first preferred, Chesapeake & Ohio,
North Western and Kansas City Southern
about point. Colorado Fuel was pushed up
points in feverish way and there were
gains OF 1 to 11@ in Manhattan, Anaconda,
North American, Tennessee Coal and a few
minor specialties Pullman advanced 2R
and New Haven 8. Profit-taking began at
once in hish-priced Changers and carried the
principal stocks in that group under last
night Chicago & Alton then relapsed abrupt
ly to 17s under last night. Colorado Southern
reacted III, Colorado Fuel TX, and the whole
list yielded and became dull.
The local fractions and ice stocks were
bid up 1 to III, and afterward Texas pre-
ferred and Kansas & Texas made gains of ~
on very large Dealings The Wabash, Kansas
Texas preferred, Wisconsin Central, st.
Louis San Francisco and Duluth, South
Shore & Atlantic preferred also rose point.
Tie general n.s rket made but slight response.
General Electric, Corn Products preferred
and the Virginia. Carolina Chemical stocks
gave way a point or more, and the whole
market receded again before noon. Bonds
were steady at noon :s,. .-.-- ..
Large buying of Reading diverted the spec
ulation to the ,coalers and practically all OF
| that group rose from T. to t%.' Lackawanna
fell point and rallied92A.i Gains of a point
or more were made BY Chicago Great West
'ern, Canada Southern, st: Louis G. San Fran
cisco second preferred, Norfolk & Western
preferred, Wheeling &; Lake Erie first and
second preferred, &DenYer&& Rio Grande pre-
ferred, Denver Southwestern preferred, Chi
cage Union Traction and Pacific Mail. Wells
Fargo jumped 10 points. There were some
large blocks bought of Southern Pacific anG
Southern Railway at fractional advances The
level Of prices otherwise was not much
changed. 10 .-.,
/ Large buying orders appeared for the Van
derbilt stocks, carrying New York Contra
up d. point anu new 7 OK, chicago & 81
Louis and Lake Erie & Western g. Pennsyl-
vania, Missouri Pacific, Consolidated Gas an6
Hooking Coal joined the rise to the exten
| of point, and st. Paul rallied to the bes
| of the day. Long Island gained 4. Atchisor
spurted to above SO, and United States stee
stocks were more active and higher. The
market elsewhere was hesitating under
| realizations. ST.. Louis Southwestern fell {
point under last night, andGMissouri Pacific
| reacted point. North Western broke 37z,S
Later in the day, Chesapeake Ohio ross
strongly to 565a, an extreme rise of 2A, fol
! lowed by Norfolk & Western with gain o
! ~. National Railroad of Mexico advanced
| N and the preferret1 and Chicago Easter
| Illinois 2. These advances did not proven
prices from slipping back elsewhere owing tx
attempts to realizs profits. Quite liberal frac
tons were deducted from prices all around
A renewed advance sinssChesapeake & Ohit
| to 561z made the closing Irregular.
Stock quotations reported for The Journa
t by Watson & Co.. Chamher of Commerce
| Minneapolis. - ~
CLOSING figures are hid