The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-04
OPENING
Heavy Dealings in Some Of the Lead
ing Stocks With Small
Changes.
The Canadian Group Inclined to Adj
vance Pennsylvania Sold
on Advances.

New York. June 4. The tone Of the opening
market was feverish and there were heavy deal
lngs In some OF the leading stocks. Fifteen hum
dred shares of Pennsylvania sold at an advance
of u over last night. but the price ran off "a
on offerings of thousand share blocks and up.
wards thousand shares of st. Paul sold at
an advance OF q, but the gain was Immediately
lost. There We're sales of 1900 shares Of United
States Steel at 81 II, compared with 81 last
night. Otherwise the active stocks showed frac-
tional declines except for the Canadian group,
which was inclined to advance. Twin City Rapid
Transit rose over a point.
Pressure against the market ceased when sup
port appeared for st. Paul and Pennsylvania,
and prices rallied to yesterdays level The
market then became feverish and reacted follow
Ing large sales of Amalgamated. That stock
went below So losing 11s ), and other leaders
sagged to the low point Trading was heavy
in Pennsylvania, and a few of the transcontinen-
tai stocks but the general volume Of business
was small. Pennsylvania was freely sold on ad,
vances which kept the market unsettled. United
States Steel preferred was notably firm as also
were the second mortgage IS.
The pressure against Pennsylvania which
touched 1885, new low record. on the move
ment. undermined the market and the leading
trunk lines and Pacific stocks fell point or more
below last night. Minneapolis s ST.. Louis lost
3 and North Western Az. Amalgamated Copper
was forced down by large selling. Sugar de-
clined y and some minor specialties a point or
more. The market steadied and became dull
at noon. Bonds were irregular at noon. i7@
Traders returned to the attack on the general
market when the selling movement broke out
again in Amalgamated and Pennsylvania. The
large sales of stocks for which there was no ap.
parent support disturbed holders Of stocks and
free sales were made in the general list Anal
gamated dropped to 81 and Pennsylvania touched
1245s. Large inroads were made on the prices
of various other stocks. especially st. Paul and
some Of the coalers. Union Pacific and Atchison
lost 16s. sYt- SIS ~4 @s b
Occasional pauses were made in the selling
campaign. but any effort to force recovery
speedily brought out fresh offerings and prices
fell to lower level than before. The pressure
was largely concentrated against Amalgama ted,
Pennsylvania, st. Paul. Atchison and the Pacifcs
were also pressed at Intervals Later in the day
losses had been made Of 31a in Amalgamated 2
IN Union Pacific, Smelling, Southern Pacific and
Delaware & Hudson, 1A in st. Paul and Atchi-
Northwestern was down SIS in all. Twin City
Rapid Transit relapsed to ~ under last night.
Amalgamated rallied nearly point but re
cover1es elsewhere were Insignificant before re.
newed selling was met. Amalgamated fell s. ST
Paul over 2, New York Central In, Rock Island
preferred 2& and some other stocks lower than
before. Pennsylvania met vigorous support as
and the whole market turned weaker in sym.
patty. Minneapolis. ST. Paul & Sault Ste.
Marie preferred was bid up 31a over last night
before meeting an Offering and then reacted g.
st. Louis Southwestern broke Az with rally
of IN, Consolidated Gas 8, Brooklyn Union Gas
4 and General Electric 2A The furry In the
call money market aggravated the weakness
The close was active and weak.
Stock quotations reported for The Journal by
Watson & Co., brokers, Chamber Of Commerce,
Minneapolis:
Closing figures are bid