The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-09
NARROW MARKET
ON WALL STREET
LEADS RISE II
THE ENTIRE LIST.
Steady Buying Of Brooklyn Transit
Disturbs Shorts - General Move
ment Narrow-special Stocks Bid
Up Vigorously Amalgalnated
Keeps ACKNOWLEDGEMENTS of the
Days Proceedings.

New York, Dec. Grading for new
account in London to-day developed de-
mand for American securities and sym
dealings Of the stock market here in a
general advance Of a fraction. Amalga-
mated Copper was carried UP a point and
General Electric IL. A few OF the minor
specialtiesss showed some declines. The
opening was firm.
Profits were hastily taken in Amalga-
mated and other stocks became heavy in
sy1npat thy. Amalgamated lost all of Its
rise and the average level Of prices was
slightly below yesterdays close.
Steady buying Of Brooklyn Transit dis
turbed the shorts in that stock and they
scrambled to cover bidding the price up
on themselves until it reached 50k, a
rise Of 35s. This demonstration of
| strength checked the general selling and
the market recovered to the opening
range
Manhattan and Metropolitan Securities
| moved up l, Metropolitan Street Railway
Us, Anaconda 21s and Brooklyn Union
4 Gas 5. Lake Shore sold at 275 for 100
shares. compared with the previous
transaction at s341a on Jan. s.. Brooklyn
| Transit reacted a large fraction and the
general market became dull
| A renewed advance of 121s in Anal
gamated lifted the rest of the market to
! Vic IVY dSdII Ill sympathy, DIOOhly IL
Transit included. The general movement
| was narrow. ~ = 49, z.a .s.s
| Advances over last night of a point were
1 made in New York Central, Rock Island
! preferred and Colorado Fuel. Chicago
1 Union Traction rose rs, Lackawanna 2,
! Westinghouse Electric ~ and Chicago,
st. Paul, Minneapolis & Omaha 31a. The
market fell back a fraction and became
dull again. ~
/ Bonds were Irregular
Special stocks were taken in hand from
time to time and bid up vigorously by
the bulls to revive interest on the long
side St. Paul, Pennsylvania Missouri
Pacific Erie second preferred, United
States Steel preferred and Sugar were
benefited to the extent of about a point
by these tactics. Brooklyn Transit was
the real feature Of the speculation, the
heavy accumulation of this stock lifting II
, to 521s, with the buying for both &C.
. counts on a large scale. Amagamatet
| extended It's advance to 4S and Long
Island jumped 4.
More activity and strength developed |,
other local traction stock as a result O
the buoyancy of Brooklyn Transit. Man
haitian, Metropolitan Street Railway, Met
ropolitan Securities and Consolidated Ga
rose from 21s to Az :. The squirt In thes
stocks was attended by revival of oil
ru1nors OF merger. Realizing becam
heavy in Brooklyn Transit in face of tn
bulge in the other fractions and it reacted
1h. Railroad and the metal stocks fel
off: rather sharply, st. Paul and Unite'
States Steel preferred; losing point Tn
market rallied again before 2 o'clock.
A renewed demonstration for the ad
vance carried the Erie, Reading, Delawar
& Hudson, Union Pacific and Peoples Ga
a point or more over last night. Denver {
Rio Grande preferred gained 1A Unde
cover of this, excessive profit taking pro
! ceeded elsewhere. completely wiping on
the rise in railroad stocks. United State
Steel preferred dropped to 81 and Amalga
mated saved less than a point Of its ad
uance. The New York Public Utilities re
acted between 1 and points. The mar
ket steadied at the decline, but the clos
ing was heavy and dull. Ny
\ Stock quotations reported for The Journal b
! | Watson & Co., brokers'. Chamber of Commerce
\ Minneapolis. Closing figures are bid.