The Minneapolis journal., 1903-03-10
STOCKS 5 | J WERE I WEAK
Trouble Among Southern Pacific
Stockholders Used as afC Club
This Morning.
Large Purchasing Orders Cause an
Advance Which Invites Re-
neWed Selling.

8 New York, March a The market opened
weak under the Influence Of reports of renewed
hostii1tles between large holders OF Southern
Pacific stock. That stock broke down Is on
the eale of 1000 shares and Union Pacific lost
y. The declines elsewhere were fractional and
there We're few small gains, but these We're
amongst the less important stocks
Large purchasing orders appeared for some OF
the metal stocks, and their strength was difused
to some extent in the general market checking
the reaction. An advance in the prices OF pig
lead was reflected by Bthe rise OF i 3a In Smelt-
Ing preferred. Amalgalnated also gained / and
Anaconda on the rise of copper. Elsewhere
prices rebounded sharply, Sugar, Missouri Pacific,
Pennsyivania, st. Paul and New York Central
advancing fraction above last night while
Southern Pacific and Union Pacific made sub
stantial recoveries.s : y3 = se:z4a ss&
The higher level of prices invited renewed
selling, which was concentrated against the
Pacihcs for. a time, but soon extended all around
Most OF the speculative favorites sold below their
opening figures, and slowed little rallying power
Metropolitan Street Railway Canadian Pacific
and Rock Island lost l.: st. Louis & San Fran
cisco and Ice preferred 4 points,.
zsoME.BIG sLUMPs.
The check to the recovery discouraged the buy,
ing demand and the market became dull! ant.
preferred and O. ON 10 on light
wards there was a plentiful selling Of stocks all
Metropolitan Street. Railway and Minpeaapolis 4
st. Lonis arpppsd Paeic s 2 na NsT
Louis San Francisco p " Rock Island 2h,
Union Pacific 2, American Mating 1Ss, the pre-
ierrea 2A and! many active stocks between 1 and
points. Amalgamated reacted IL and then
reacted point, as did New York Central and
Southern Pacific. and the market rallied but
United States new as, Of N in the old Is, 5s
and 3s registered gave rise to some suEnises of
possible purchases of bonds by the treasury for
were lower at noon.
Prices held fairly we'll at the noon rally. No
Increase
operators being contented to hold the list steady
So as to invite further liquidation and bear
selling. Pennsylvania weakened decidedly and
sold well under the forenoon lowest. American
Ice rallied - and the preferred 2R
Pennsylvania broke to 142A, and st. Paul
stocks fell lower than before. Covering of shorts
caused rallies later, but the improvements were
| slight except in few. cases and were followed
by dullness. Southern Pacific and New York
Central rallied point. American Grass Twine
lost 2h; Pacific Coast and North American, 8
Steel Foundry preferred, AZ !; Minneapolis & St
Louis and Michigan Central, 5, and Buffalo
The bears had sold freely during the day, ant
their covering to takep rofts resulted in a gen
eral rally, which reached 2 in Southern Pacific
and Metropolitan Street, Railway and between
and and for G the principal speculative stocks Keo
Chemical dropped oh, and Linseed preferred 4
| The buying slackened at the advance and ther,
were fractional recessions.
In the final dealings st. Paul dropped to nea
! 1888 and the whole market quickly crumbled t,
ABOUT the low level of the day. The closing wal
active and weak. ..:, -. -"
Stock quotations reported for The Journal b,
Watson & Co., Chamber Of Commerce, Mime
! apolis. : '"-r%G % =, E'f'f! :