The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-10
STEEL ON lOBBOGAN.
The Common Touches New Low
Record Of 10 Preferred at
sos.
Other Stocks Are Weak and tn,
Market Feverish Many Trans
actions in Steel.

New York, Nov 10.--First sales of
United States Steel preferred were. Of $500
shares at 5O1A, yesterdays low record. but
the price subsequently sagged to 50as.
The second bonds and the common stock
opened at new low records, the bonds
selling at 65A. Five hundred shares of
the common stock sold at 10A, and the
next sale was Of 4,20O shares at 1915. The
transactions in both classes of stocks
continued In very heavy volume Union
Pacific also opened wide on the sale of
$500 shares at 71A and Il, compared
with TN last night, and there was a
subsequent sale at 70H. Prices We're
down varying fractions thruout the list.
There was an upward movement in
the New York fractions after the open
ing. Manhattan, Brooklyn Rapid Transit
and Metropolitan Street Railway were
lifted rapidly to III and the other stocks
stinened slightly, including United States
Steel. The previous selling of United
States Steel preferred was then resumed.
| the price falling to 49A The common
stock touched 10 and the second bonds 65.
Railroad stocks weakened under the drive
and the fractions also lost most Of their
| rise. Baltimore s. Ohio, New York Cen
trail. Colorado Fuel & Iron and National
Enameling declined a point or over.
When United States Steel rebounded a
fraction, Amalgamated Copper was lifted
| to 81, but Pennsylvania then fell 2 and
the market became feYerish and uncer-
tain. 5ps
United States Steel preferred made a
full covering by buying Of shorts, but re-
neWed liquidation in Pennsylvania inter-
| rupted the sympathetic rally elsewhere.
Pennsylvania lost 2ss in all, Reading sec
| ond preferred 2ss, and st. Paul, Missouri
Pacific, Canadian Pacific, Smelling,
Pressed Steel, Tennessee Coal and Realty
preferred, to ~. There was a de-
| cline Of 1ss in Lackawanna.. The mar
ket steadied before noon
Bonds were heavy at noon.
pennsylvania dropped to 114h, and
Reading and Norfolk 81 Western and a
| few other less important stocks ran Off
a point or more before the heavy buying
| OF Amalgamated turned the market
Amalgamated rose from SO, the lowest,
1 to 80 without encountering much resist
ance. The ease with which the advance
was accomplished Influenced a moderate
demand for the general list, but the dis
/ position current to sell United States
Steel on rallies kept the market from i'm
proving much. Anaconda gained and
/ Consolidated Gas /.
When the room traders attempted .tc
take their profits in Annalgamated the
/ buying proved to be not so insistent and
1T dropped back to 37A. Louisville and
| Hooking Valley preferred were dragged
down to 1h and United States Steel
| preferred Went. below so. A rally of a
point in Pennsylvania, coupled with re-
bound to 81 by United States Steel pre-
ferred, placing it at * above yesterday s
close, strengthened the market again; but
trading became very dull on recovery.
There were declines Of a point in ILL.,
no1s Central, Wabash preferred, South
/ ern Railway preferred and few others
! National Enameling lost g. Pacific Mai
jumped an extreme 61z and reacted 8
Bears attempting borrower shorts found
scanty offerings of stocks and prices re-
bounded. Amalgamatedt rose an extrems
rs over yesterday. and United States
4 Steel preferred touched 51A. Recoveries
! In some Of the railroads approached q
point. Colorado Fuel gained 1 Is. Union
i Pacific preferred 1 and North eAmerican
i lA.st The closing, dull sand barely
i steady. e%s5z z31sEf o3 gEAi adf y s# =
! Stock quotations reported for The Jourrna
by Watson & Co.., Chamber Of Commerce, Mime
apolis. 7e4S&svs !.
| Closing figures are bid o - =