The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-14
SELLING ON AGAIN.
The Whole List Carried Down at the
Opening u. S. Steel an =
Exception. re
Covering on the Decline Causes a
Rally, but There Is Some ~
Feverishness. 49,.

New York, Nov. 14.-Yesterday,s late selling
movement III stocks was resumed at the opening
the single exception of United States Steel pre-
ferred, which hardened H. There were very
heavy offerings Of st. Paul. the stock opening
wide on the sale of $500 shares at 175h to
ITO, compared with 1i6A last night. Further
heayy offerings carried it down to 174%. The
new ROCK Island company stock, oAmalgamated
copper Baltimore & Ohio, Illinois Central, Della
ware & Hudson, Kansus City Southern pre-
ferred and Canadian Pacific lost point each
Other losses were fractional, but there were
docks OF LOCO to 5000 shares offered at the
opening In various cases. After the first dip,
prices showed some Improvement but the market
continued active and feyersh,
Room shorts covered in st. Paul, Sugar, Anal
gamated and Brooklyn Transit on the decline,
and these stocks rallied strongly Meanwhile
seliing went on in Canadian Pacific, Southern
racine and Louisville l. Nashville driving these
STOCKS from to points below yesterday s
close. Speculation was very nervous and special
stocks moved feverishly as traders shifted their
oroers from one group to another Trading qui-
eted down considerably toward II o'clock and
prices all around ruled above the lowest.
There vas a feverish and uncertain wavering
OF prices which carried them first slightly higher
oer a t ad them suddenly them
PIT ia Manhattan '' Hl0s siam Of F? sA in
reaction, Rock Island fell ~ and Consolidated
Gas, PIX points. Anxiety was felt regarding the
showing to be made by the banks tomorrow
Bonds were easier at noon.
Large amounts Of the Pennsylvania group OF
stocks We're poured out on the market and q
steady decline in them broke the market. Read:
Ing, Southern Pacific and St. Paul We're offered
IN turn, and one stock after another broke until
the whole market gave way. Rock Island
dropped s, st. Paul AZ, Canadian Pacific Az
and Pennsylvania Baltimore & Ohio, Chesapeake
q Ohio. Norfolk & Western, Southern Pacific,
Union Pacific, Missouri Pacific, Atchison and
| Illinois Central u to 2M
Losses from to points were established in
all the principal active stocks before support
Ing orders became effective, causing quick rail-
lies 10. Of | to ~ the latter in St. Paul The
market became dull at the rally and sagged
again. The severe pressure against the market
was relaxed for time but was renewed later
against Baltimore & Ohio, carrying it AZ
points under last night. The whole market
crumbled away again to lower prices than be-
fore.
Prices fell to the lowest Of the week dur
ing the final hour before the fierce drive which
swept the whole list of stocks before it: The
stocks most affected including st. Paul. the
Rock Island stocks, the Pennsylvania group the
Pacifcs, Coalers, Louisville, and Colorado Fuel,
dropped 3@7A. When the shorts came to cover
there were some violent rallies reaching 1 to 8
| in the weakest and most active stocks.
Stock quotations reported for The Journal by
Watson u Co., brokers' Chamber of Commerce,
Minneapolis. Closing figures are bid,