The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-06
IS FEVERISH
Supporting Orders Held Prices Fair
~ Firm During the First
Hour Of Trading.
Before Noon, However, q Reaction
Set In and Selling Was
Resumed.

New York, Aug 6.-Sentiment in Wall
street was strung to a high tension this
morning and the opening quota lions were
AWARDED With apprehension They
showed that protective measures had been
taken to avoid decentralization and many
OF the prominent stocks were lifted
traction. At other points, however, there
were violent breaks, especially 2 In the
specialtles and some Of the market lead
ers were also under severe pressure Such
stocks as st. Paul Southern Pacific, New
York Central, Pennsylvania, Southern
Railway, Erie and Illinois Central showed
the effect Of supporting orders and rose
q fraction. Missouri Pacific and United
States Steel opened unchanged, but the
former relapsed point. Chicago &
Northwestern dropped 4, Wheeling and
Lake Erie, second preferred 81, Con-
tinental Tobacco preferred 2, Brooklyn
Transit IL, Atchison, Baltimore 6, Ohio
and Metropolitan Street Railway more
than point and Consolidated Gas, Man
haitian, General Electric and Sugar about
a point. The dealings In the first few
minutes were excited and feverish, but the
market showed the good effect of support
ing orders.
The market was nervous turnout the
first hour owing to the occasional out
pouring of special stocks which carried
their prices thru previous low levels for
the year, but the supporting tactics were
pursued and the market became steadier.
Selling was conspicuous in Missouri Pa
cific and Baltimore & Ohio, carrying
them IN under last night Atchison lost
as much and Union Pacific declined IL.
Metropolitan Street Railway lost a. Con-
| tinental Tobacco 81, Delaware & Hudson,
Hooking Valley preferred, Minneapolis, St.
Paul & Sault Ste. Marie, Consolidated Gas,
Pullman and Republic Steel preferred to
3 points and a more extended list point
or more.
With the announcement that all sheets
had passed the stock exchange clearing
house the buying became definitely pre-
dominant over the selling and the market
rose with animation. Only stocks that had
been notably weak failed to recover fully.
Such leaders as st. Paul, the trunk lines,
except Baltimore & Ohio, Southern Pacific,
the Wabashes and the southern group, U.
s. Steel, Amalgamated, Sugar, General
! Electric and a miscellaneous list besides
| rose above last night. Wabash preferred,
st. Louis Southwestern preferred and
| Kansas & Texas preferred rose a point
over last night and Tennessee Coal IA
There was q. break Of 31s In St. Louis &
! San Francisco second preferred and of 2H
! in Minneapolis, St. Paul & Sault Ste
| Marie preferred. On the rally the demand
| diminished to small proportions. Atchisor
then sold off IN below last night, Reading
| 13s and the whole list yielded again easily
! Bonds were weak at noon.
| Selling was resumed on large scale
and about a dozen of the leading stocks
yielded to lower level. The decline was
| short lived as heavy buying orders ap.
peared all thru the list and the Changers
Pacifics, Southwesterns, Coalers and East
ern trunk lines and the specialties rose
rapidly. Recoveries from the lowest rar
between l and points and the earlier
losses were pretty effectually wiped out
Reading rallied to As, United States Stee
preferred to 69b, Union Pacific to 69%
| Baltimore & Ohio to 70, Missouri Pacific t.
80, and st. Paul to 1876. Continental To
bacco preferred declined 81 and rallied 2
The more stable condition of the 1narke
prompted large buying for both accounts
which turned the SeafIy losses of to
points into gain. ST.. Paul and New Yor
Central were lifted ~ above yesterday
Lclose and Erie, Louisville & Nashville
Norfolk & Western, Pennsylvania. South
ern Pacific, the Wabash stocks, Souther
Railway stocks Amalgamated stocks
United States Steel preferred, Smeltin
preferred and Virginia. Carolina Chemics
point. Rubber. Goods advanced 3 an
Cleveland, c., c. & st. Louis 8. Toledo
st. Louis & Western declined 21a an
Hooking Valley 1h' Realizing in 81
Paul cost it a point Of it's rally and tn
market ran off in sympathy but came u
again when Missouri Pacific rose to 81 N
! The losses in Northwestern, Continente
. Tobacco preferred and Atchison wer
mostly recovered.
Stock quotations reported for The Journal b
Watson & Co., Chamber Of Commerce, Mime
apoIs. $50.
= Closing figures are bid.