The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-07
STEEL The FEATURE
Large Blocks Of Stock Sold at an
Advance.
GAINS IN THE GENERAL LIST
Prices Go Tobogganing and Market
Closes Active at the
Lowest.

New York, Jan. THE United States Steel
STOCKS We're the feature and both of them had
WIDE openings. The first sales of the COM
mon were OF $4,000 shares at Simultaneous
quotations Of 46h to 46A, compared with
46A last night, while 10000 shares of the
preferred were at 97A to 971a, compared with
" laSt night. Sales of from LOCO to 1000
shares followed in quick succession with the
prices maintained. Fractional gains we're the
rule In the general list reaching point in
Northwest. Only one or two stocks showed
small declines
The early stock trading was counterpart
OF that OF yesterday, prices rejecting mo-
mentary hesitation and then declining abrupt
~. me Coalers as group We're most
anected by the heavy realizing in
progress everywhere, but there were also
many weak features included in the rail
| roads and specalties Delaware & Hudson
fell ~ and Lackawanna Reading common
and second preferred, Missouri Pacific, North
western, Minneapolis & st. Louis, Chicago,
indianapolis & Louisville, New York, Chi
cago & st. Louis second preferred. People,
Gas, Tennessee Coal and Southern Railway
preferred yielded 1 to 11s. There was rise
OF 21s in American Express, 81 in Westing-
house Electric and point in United States
Express, st. Louis San Francisco and the
Republic Steel stocks. Prices were slightly
better at IL o'clock Delaware Hudson
rallied to a point above last night.
Recoveries were general and pronounced
when the short interest covered, this de-
mand being fostered by rapid rise OF
points in Sugar. In some other instances the
rebound lifted prices well above yesterday s
close and especially in Amalgamated Copper,
Manhattan Brooklyn Transit, Erie first pre-
ferred and Metropolitan Street Railway, the
last mentioned figuring for points. United
States Express rose in ALL Some declines
were effected in international stocks, Con-
solidated Gas losing 9, Pittsburg, Cincinnati,
Chicago & ST. Louis 134, New York. Chicago
& st. Louis IL, and Great Northern pre-
ferred 1.
United States Steel stocks gave way sharply
below last night on comparatively light offer
ings. The common reacted rs and the pre-
ferred a point. Reactions in Sugar reached
2, Delaware & Hudson 2A, Rubber Goods pre-
ferrerd 2, Minneapolis, St. Paul & sault Ste.
Marie 1B, ST. Paul las, and a number of 9TH
er stocks point. Prices generally, however,
did not get back to the lowest. Amalgamated
Copper rose to TN in the face of the down.
ward tendency Of the market, and American
Express sold up 10 points and United States
Express GA in all.
Professional bears made a concerted attack
In all quarters and prices declined rapidly on
large selling. Stop-loss orders were uncov-
cred in all of the active leaders. and prices
broke from 1 to points below last night.
St. Paul, Union Pacific Atchison, Manhattan,
the Eries Readings and United States Steel
stocks were all let go in large amounts.
Sugar, which had sold at 1914 earlier, dipped
to 119, and United States Express reacted from
100 to 1O6
There was a slight rally but it was brief,
and the renewed selling then carried prices
to the lowest, of the day. United States Steel
fell " under last night and the preferred a
point. St. Paul lost 2as from yesterday s
price, Peoples Gas 25s, Reading ~, and
practically all the principal stocks point or
more. Without effectual character to the
selling, the market closed active and easy at
about the lowest
Bonds were steady.
Stock quotations reported for The journal
by Watson & Co.. Chamber Of Commerce,
Minneapolis. ~ a.. =
Closing figures are bid. .-t