The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-23
SLUMP CONTINUES
Opening Prices Averaged a Fraction
Above Last Night, but Re-
action Followed.
Several Stocks Establish New Low
Records and Absence Of Support
Was Noticed.

New York, July 23.-Opening prices of
stocks averaged small fraction higher
than last night. There were i 500 shares
Of United States Steel at 1895 and s231a
compared with 231s last night, and the
price subsequently ran. to 23A. Rock Island
point and a number of the, standard rail-
road stocks a large Traction.
The meager demand for stocks was not
sufficient to sustain prices and the open
ings gains were quite generally Cancelled.
Leaders, such as Reading, the Pacifics,
Rock Island and the Amalgamated sold
slightly below yesterdays final prices.
Mania ttan, Rock Island, Lackawanna,
Colorado & Southern first preferred and
Tennessee had gained i to tx before the
declines set in, but the last named reached
23s. Realty preferred lost a point, Erie
second preferred rs and WESTINGHOUSE 5.
If With the selling pressure off Tennessee
Coal rallied LIS and the market hardened
in sympat thy, Pennsylvania, Louisville &
Nashville, Erie first preferred, Kansas &
Texas first preferred and United States
Steel preferred rose point, Northern / u
and Erie second preferred recovered its
loss. The market then. became very dull.
The Minneapolis st. Paul & Sault Ste.
Marie stocks Toledo, st. Louis South
western preferred, Coast, Colorado Fuel
and Leather preferred lost l to IN; the
New York Chicago & St. Louis second
preferred 7. Bonds irregular,
Fresh selling orders on a. large scale
appeared in. some of the low-priced spe-
cialties and Rock Island, which depressed
them materially and pulled the general
list back to yesterdays close. Low prices
were reached by, Colorado Fuel, Tennes-
see Coal, the ice stocks and realty stocks.
Rock Island sagged to 24A, within Il
OF its lowest. The decline reached 3%
in Realty preferred, 31s in Ice preferred,
3 in National Railroad of Mexico and
North Western preferred; 2A in General
Electric and 1@2 in st. Louis Southwest
ern preferred. Mexican Central, Chesa-
peake & Ohio, Norfolk & Western, Anal
gamated, Tennessee Coal Sloss Sheffield
Steel, Realty and Rubber Goods.
A slight recovery in prices was soon
followed by another outbreak Of liquida-
ton in which. Amalgamated and Rock
Island were most conspicuous Amalga-
mated broke to 422s, ex-dividend, es-
Island fell below "a and there were losses
of point or more in numerous other low
priced stocks, particularly car, smelling,
Pacific Mail, Republic Steel preferred,
Southern Pacific; Reading and Iowa Cen
trail. stocks. Delaware & Hudson gave
| way 8, locomotive preferred IN, and the
l&kansas City Southern stocks about O.:
| After noon to-day: the: stock market
which had been rather dull and narrow
turned weak and prices receded. Colo
RADIO Fuel and United States Realty pre-
ferred touched new low records. 4 Other
stocks in the so-cailed special group de-
clined and the market driftedf along with
lout definite tone. b9bi1"f - .-y
| Stock quotations reported for The Journal by
Watson &: Co., brokers, Chamber of Commerce,
| Minneapolis. Closing figures are bid.