The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-28
SOME GOOD BUYING
a More Cheerful Tone to the Early
Dealings in Wall Street
To-day.
Some of the Active Bonds Strong,
but There Were Declines in
Investment Mortgages.

New York, July 2S.-Although opening
prices of many stocks were higher than at
yesterdays close, the stock market
showed a hesitating tone In early dealings.
Nevertheless there was more good buying
of the high-priced railway shares, though
in moderate amounts. A few Of the high
grade industrials exhibited marked firm
ness, Sentiment was increasingly cheer
full. The absence Of any more failure an
nouncene In the first half hour helped
to create "a better feeling. Short covering
was again extensive. Prices yielded later
partly as a result Of realizing. Wabash
preferred opened up Id and a number Of
the iron and steel stocks, including United
States steel. a large fraction. There were
losses among the coalers, Paci1cs and,
grangers. ~
Pressure then developed against som Of
the standard stocks. Southern Pacific de-
clined a point Wabash preferred lost it's
opening gain. Large orders came in for
Southern Pacific, Reading, New York Cen
trail and United States steel pfd., and the
general buying was heavy. Advances over
night reached 2 to 2A in Southern Pacific,
Toledo, st. Louis and Western. Erie sec
ond preferred. Cleveland &c. G. 81 st. L.,
Iowa Central Metropolitan Street railway,
Rubber goods and car preferred. Brook
lyn Union Gas gained 4. Improvements Of
a point or more were made by New York
Central, Rock Island, Brooklyn Transit,
Tennessee coal, u. S. Steel. pfd-, and many
The market aid not hold at@zt the best,
Rubber Goods reactins III, and Southern
Pacific point. = : : Z
The Coalers became strong, including
the Pennsylvania group, and rose from i
to IL. Erie second pfd- made an excep-
tional gain Of 81 and Reading second of
IN. Amalgamated and Smelling adj
yanced, over a point and there were. be-
lated advances in others Of Iron and Steel
specialties. Toledo. st. Louis and West
ern rose Az, the preferred and lKanawha
United States Rubber. W !: and Rubber
Goods pfd., a point. The iPacifics and
Changers overcame their earlier depression
but did not rise over a fraction: above last
night, except Northwestern. Declines of
1 to 2 were made by Evansville & Terre
Haute, Des Moines & FortsDodge. North
American, with recovery, Schloss, Shelf
field, u. S, Rubber pfd. and Realty pre-
ferred. Prices were running off at noon.
Some Of the active, bonds were very
strong. notably the Rock Island, but there
were some wide declines in inactive in
vestrnent mortgages. :: T.
Selling orders were more abundant than
buying orders after o'clock and the mar
ket yielded substantially. r. Some of the
western stocks reacted to about yester-
days close and Atchisen sold a. point be-
low. Declines from the best ran to about
a point in AIlalgamated, Erie second pfd.
and Toledo, st. Louis and Western pre-
ferred. Chicago Great Western preferred
lost u, Evansville and Terre Haute, So
and Cleveland and Pittsburg, points.
Virginia Carolina Chemical showed gain
OF AZ; General Electric, 81, and Louis
| vile, !.
An active selling movement during the
last hour aroused some uneasiness as to
| it's origin and cost the markets-practi-
cally all of its gains. New York Central
dropped back to last nights level Net
declines were established in Atchison
Of rs, st. Paul, Manhattan and Smelling
preferredfa point, and Paper ~, with a
rally of 1A. Rinneapei5s &c st fouls
dropped s; Evansville o. Terre Haute
rallied to so, which Is 2 points over last
night. The market steadied and there
were a few feverfsh rallies rs Colorado
| Fuel jumped 101k between sales to, 81
| The closing was unsettled and Irregular
Stock quotations reported for The Journal BY
Watson & Co.,, brokers, Chamber Of Commerce
| Minneapolis: -, i - y ~
| Closino fourea ora hid. TH77:-E - D