The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-25
MARKET IS BEARISH
American Stocks Open Well in Lon
don, but New York Fails to
Respond.
st. Paul Preferred Falls Az Points
While Minneapolis & st. Louis
Gains 2.

New York, May 25.-There were slight gains
among American stocks in London this morning,
which gave some hope OF recovery from Sat
urday's weakness, but the opening Of the market
here showed heavy selling orders and little de-
mand throughout the list 5Hs
The first sale of St. Paul was of 100 shares at
l5OA, but the next sale was 1000 shares at 100.
and the stock subsequently broke thru that
figure. Saturdays price was 151 II. There were
$500 shares OF United States Steel sold at 30b
and SOA compared with 31ss on Saturday and
opening Sales OF Rock Island were Of 5000
shares at SsA and 49, compared with 1914 on
Saturday Missouri Pacific lost nearly two
points and declines of a point or over were shown
by Wabash preferred, Canadian Pacific, Brooklyn
Transit, Amalgamated and Tennessee Coal. Penn
sylvania and United States Steel preferred fell
Is under heavy offerings.
Is The precipitate declines in the leading stocks
| alarmed holders of the less important properties
and there was general splitting out Of hold
ings, which lowered number Of them between
one and two points, These included some high
priced invest ment stocks as well as low priced
non dividend paying industrials. Exceptional
losses were made by st. Paul preferred of ~
Carolina Chemical 8 points. The general mar.
ket was feverish and excited. Supporting or
ders, however, were plainly manifest all thru
the active list. and by 1880 the tide Of prices
| had turned upwards. A number of active stocks
recovered from to TX points carrying a few
above Saturday. Erie first preferred and second
preferred sold IL and ~ respectively above
SATURDAYS close. The trading became quieter
at the rally. .st
The market reacted slightly on the announce.
| ment OF an engagement Of 100000 in gold for
export to Germany. Union Pacific was carried
back to the lowest. Erie first preferred re-
acted a point. Northwestern lost rs, Rock
Island 2 and Toledo, st. Louis & Western pre-
| ferred ~. Effective support was again forth
coming and the selling was checked, but the de
mand fell away at the higher level. Mime
apolis & st. Louis was marked up 2 points over
Saturday, and Metropolitan Street Railway and
Cotton OH preferred gained point. ,E5
/ horo md have. h,1+ Por
changes Of consequence during the midday hour
st. Paul rose to 151A and United States Stee
preferred to 81, and the general list maintainet
firm undertone. Toward 1 O'Clock heavy sell
Ing Of Rock Island forced 1t down to 37N ant
! prices elsewhere ran of quickly, st. Paul re
4 acting to 1905 and Union Pacific and Southern
Pacific fell back to the lowest. Colorado South
ern second preferred lost ~ and American Elk
press points, while Minneapolis & st. Louis re
coded points.
renewed supply of stock was poured upo,
the market and prices broke violently to thu
| lowest OF the day st. Paul was damned dow
~ to l4S9s, and round amounts of the Pa
c1hcs. Rock Island and Reading were unloaded
Losses appropriated two points in Missouri Pa
cihc, Union Pacifs, Rock Island and sBrooklyl
Transit. Brooklyn Union Gas slumped 11A an,
| northwestern r.. Some feverish rallies fol
| lowed but prices were breaking again at
Bonds were weak at noon.
| Stock quotations reported for The Journal b.
| Watson & Co., brokers' Chamber of Commerce
| Minneapolis: 81 (; N : ! -
Closing figures are bid.