The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-07
A WEAKER OPENING
Stocks Little Feverish and Some
Late Advances Lost.
ST. PAUL WAS SOLD FREELY
Readings Break Below Sixty-flve
Started a Selling
Movement.

New York, May 7.-Yesterday's late show
OF strength was not fully maintained in the
opening stock market this morning, although
gains. There were 5eOO shares of Chicago
Great Western sold at 32A to 80, compared
with ~ last night. and the stock then fell &
traction lower. $ NORTHWESTERN was up ~
and New Haven a point There was scat
terlng OF fractional losses among the i'm
portant stocks Changes in the Coalers were
mixed and were restricted to fractions
cept for thee sale Of 2, 900 shares of Reading
at 661s to 6oA, compared with 66A last night
STOCKS We're feverish and the opening ad :
vances were quite generally lost when Read
ing broke below IS. St. Paul was also sold
freely and Manhattan was a weak feature.
There had been a rise of 2M in Pittsburg
Cleveland, Cincinnati St. Louis and Of about
point in Linseed, Chicago Great Western
preferred b, Wheeling & Lake Erie and
wisconsin Central preferred. Tennessee Coal
fell 2B on the unfavorable showing OF it's
| annual report. By II o'clock many stocks
were selling a point or more below their
opening prices. Chicago Great Western fell
B below last night and net declines reached
about point in st. Paul, Illinois Central,
Louisville Texas & Pacific Chicago, Indian
apolis & Louisville, Brooklyn Transit and
| some others. -- .. ia.
The market continued to give way until
Coal, in Chicago, Indianapolis & Louisville
and considerably over a point in various
coalers, railroads and specialties. Westing-
house Electric lost 3 points. Shorts covered
| in Reading and it's rally of over point stiff
ened prices all around. Kansas City South
ern stocks became active. the common rising
3% and the preferred IN. The recovery in
| prices wiped out some of the losses, notably in
! Sugar, Chicago, Indianapolis & Louisville and
| the Pacifcs. Amalgamated rose a point over
| last night. ....
| The bulls took hold of Louisville and the
Readings, carrying the first named to 146,
gain over might of ~, while the latter all
! sold Is above yesterdays close. Strong up
| ward movements occurred in numerous minor
stocks, but the. active stocks were quiet and
| did not benefit much from the buoyant fea-
lures. Wisconsin Central stocks Evansville
| and Terre Haute, Keokuk and Des Moines,
| Anaconda, Continental Tobacco preferred,
and Nashville, Chattanooga & St. Louis made
gains Of from to over points ,.L ...
There was heavy and short-lived demand
for Southern Railway following the squirt in
Louisville which carried the price up 15s
Louisville then reacted IN and Southern
Railway fraction. Union Pacific was lifted
| TX over last night and the .Transcontinentals
rose to the best. Kansas City Southern and
Nashville, Chattanooga & St. Louis rose
each, and Toledo, St. Louis & Western pre-
/ ferred point Meantime Reading reacted
. point. Rock Islandlost and North Western
Chicago Great Western and Manhattan fell
a point below astSnightFt r., 81 3,
/ There were a few isolated advanc esSinclud
ing in Pacific coast, 21a in Chicago & Eastern
/ Illinois and l each in Toledo, St. Louis &
| Western and Colorado & Southern second pre-
| ferred. The whole market then reacted under
the influence Of active liquidation in the
Coalers: Reading fell to 81, which was 81
below last night and other members Of the
group were 1 to. 2 points below last night
| The gains in Louisville and Southern Railway
were wiped out and the general level of prices
went lower than in the morning decline. Chi.
| cugo Great Western got under last night
! Covering by room Shorts rallied Louisville 21l
and Reading over a point The response
| elsewhere was small The closing was heavy
| 1 Bonds were easier at noon. %>*- ~
! Stock quotations? reported for The journal
| by Watson & Co:r brokers, Chamber Of Com
merce, Minneapolis:
| Closing figures are bid.