The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-16

A BETTER OPENING
The Market Feels the Confidence
Inspired by Measures Taken
by the Bankers.
Buying Of the Leaders Causes Fair
Rally-Prioes Were Up
at Noon.

81 New , York, Dec; 16.-Up to noon to-day call
6 rex assistance had been received by the $50 ooO,
ests as a protective measure. There has been
19 n out Of this city for
from various interior points. go ..a- -
opening In response to the protective measures
adopted yesterday by the bankers for the money
market. Stocks which were most depressed yes
terday showed the largest recoveries, Southern
racine rising e and Manhattan Is. There were
some declines of which the most conspicuous
We're In st. Panl, and Louisville. .-.,. rs x -
Inc market showed some hesitancy after the
opening, some OF the advances being partly
lost, but some OF the losses were also recovered.
The market was quite broad and active, but the
changes were genrally small.
Dealings became confused later and dropping
tendency developed in the Pacifics, Atchison, the
coalers and the Pennsylvania group. On the
other hand, st. Paul, Sugar, Manhattan and
Amalgamated made upward progress and the
entire market At the top level, st. Paul, South
| ern Pacific, Pennsylvania and Amalgamated ruled
about point above yesterdays close and Sugar
was PA above. Hooking Valley preferred Rock
Island preferred, Chicago & Alton, st. Louis
Southwestern preferred, Chicago, Great Wes-
term New York, Chicago & St. Louis, Cleveland,
Cincinnati, Chicago & St. Louis, Consolidated
Gas and some obscure snecialties gained to 2
points, while Virginia Carolina Chemical pre-.
ferred lost and American Express 5A and
several minor railroad stocks point
The market fuctuated narrowly and was dull
but maintained a firm undertone with per cent
rates. Prices We're at the highest at noon. Amer
lean Express rallied 81. Northwestern rose 8
and J. to point gains were made in addition
by New York Central, Louisville, Illinois Cen
trail, st. Paul preferred, Baltimore & Ohio pre-
ferred, Consolidated Gas and Locomotive pre-
ferred. - 81 -
Some. increase in activity, followed more
general covering movement by the room shorts.
| st. Paul, PENNSYLVANIA, Rock Island preferred,
Delaware s. Hudson and several others increased
their advances to about 2 points Elsewhere the
general level was higher with large demand
| for the Pacihcs, Baltimore & Ohio, Reading and
Louisville. So 49,, - .--.-t ... 80
| Realizing orders turned the drift of prices
downward. PENNSYLVANIA reacted po1ut. n
sustaining effect was produced by u demand for
| the Vanderbilt stocks. New York Central i'm
proved 1 y, New York, Chicago & ST.. Louis 3,
the second preferred 61a, Lake Erie Il Western
4, and North Western 5. y. 49, ~
The market became rather animated early In
the final hour under the influence of rise of 2Ac
each in Missouri Pacific. and Southern Pacific.
| The Pacifcs and Southwesterns generally re-
| sponded in sympathy. Stocks were freely sup:
| ported at the advance. and the whole list fell
| back, led by Manhattan with q drop of 2. st.
| Paul fell back abruptly 2A points. Reactions
elsewhere ran from 1 to 2. The result was to
| practically wipe out gains at points of special
strength. The close was quite active and weak
Bonds were Irregular at noon. 49,
Stock quotations reported for The Journal by
| Watson Co., Chamber of Commerce, Minneapo
lis. ''- - ~.
| Closing prices are bid -.