The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-16
RECOVERY IN PART
The stock y N a ! Il; opens Higher but
D Gives Way to Pressure
Before. Noon.
The Street More Hopeful Now and
Traders Think the Worst
Over. s.

E New York, 81 uiyf9Etl6.-StOckS opened
higher in continuation ofsyesterday' rally
In stocks which have been under severe
pressure recently the gains were large,
reaching from to II in New York Cen
trail, Baltimore g. Ohio, Wabash preferred,
Missouri Pacific, Rock Island and pre-
ferred, Atchison, Amalgamated Copper.
United States Steel preferred, Brooklyn
rose 2 land c., G. & st. T., 3. There were
running sales Of 5000 shares of United
States Steel at 261sa, to 26A com ared
with 26h last night Rock Island and
ST. Louis and San Francisco second pre-
ferred ran off a fraction.
The market developed reactionary
tendency Immediately after the opening
under heavy selling. of Rock Island Union
Pacific, Southern Pacific United States
Steel bonds and the local fractions which
fell a fraction below last night. Rock
Island and Atchison preferred fell q
point under last night and early gains
were generally wiped out Buying orders
appeared when prices had got back to
yesterdays close and there was rally all
around on diminished trading. Some
stocks made advances over last night,
reaching 1@11s in ST.. Louis. South
western, North Western, Consolidated
Gas, Leather preferred and Pacific Mail
Great Northern preferred sold at no. This
has been the. recent bid price and sales
of odd lots have, been made at that but
the last full share lot on the exchange
sold at,l9OHa. 80 VA,
General Electric reacted and Evans
vile g Terre Haute lost 8. Prices. yielded
again before the end of the hour
Bull operators put up special stocks
but they did not obtain much of a re-
Spouse from the general list Illinois Cen
trail and Canadian Pacific led the advance
and sold 81 above Yesterdays final fig-
ures: Lackawanna also; extended Its rise
to 8 and Consolidated. Gas, Brooklyn Union
Gas and Canada Southern rose 2k04
points. Prices of leading stocks averaged
q. fraction better thansat the opening.
The selling movement was not pressed,
and encourageme MT was thus felt to mark
up prices again. New York Central was
lifted LIZ over last. night and Illinois Cen
trail w, but other active stocks did not
| rise above the opening level. Lacka-
wanna made q recovery Of 7 from yester-
day and North-We stern 211z. Des Moines
& Fort: Dodge fell 3A and Ann Arbor
preferred g.. The st. Louis and San Fran
cisco certificates for Chicago and Eastern
Illinois fell back seven points from last
nights rally: q The market was dull in
contrast with yesterday. Bonds were easy
at noon. :: ,5.t%1at ~
Strength developed in the early after
noon and stocks which had not figured
much in the early rise were bid up These
group as well as some of the southern
and southw estern stocks. Profit taking
wered the list a trif1e, but at 2 o'clock
the market~was rising vigorously; again
under the lead of the Pacifes. Canadian
Pacific scared up Az to s124s4, Metro
politan street railway ~. New York
| Central 25s; Delaware e. Hudson, ~;
and, Union Pacific, Southern Pacific, Mis-
souri, sPacifica sAtchison and ST. Paul.. IL
i to 1A. Chicago 81 Eastern Illinois GER
4 ~tifcates rallied l5 points on two transac-
tionss Minneapolis; st. Paul Ii, SauIt Ste
Marie advanced "a aaf}ds Brooklyn Union
j Gas f.. Iowa Genital lest ri aa .sst a. r
+ While still, compare lively inactive the
market continued strong all, thru the aft
Iernoon.Y A slight shading IN long time
money together with further buying, fol
! London and other European accounts
helped in no small measure Ito strengthen
the market Purchases for Europe are
) said to have exceeded 10000 shares.
;, Violent liquidation in .Amalgamatet
Copper carried it down to its lowest rec
ord price at 461a. Smelling broke 2ss and
selling was renewed turnout the list: Onl,
those stocks that had shown wide gains
saved any Of them and the general leve
of prices fell back to below last night
) trail IA and, New York Central @. Col
ST. Z. fell LIZ below last night. West
H ing house Electric first preferred broke ;
points. A rally in An1algamated relieyet
( tile pressure and the market steadied, blu
; ran Off again and closed active and easy
! Stock, quotations reported for The Journal b,
i Watson & Co., brokers, Chamber of Commerce
Minneapolis. Closing figures are bid.