The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-03-11
LOOKING TO SHAW
Expectation in London That the
Secretary Will Help the
Market.
Market in New York Rebounds
Sharply on Break-secre-
$tary Shaw on Wall St.

New York March 11.-Americans made sharp
recoveries III London this morning on the en-
pecta ton that the secretary of the treasury
would takef measures to relieve the money mar
ket.s The advance was reflected In the 1nterna-
ronal list at the opening here. Southern Pacific.
Canadian Pacific and St. Paul were carried up
1as each: .Amalgamated Copper rose about
point, and Anaconda "a Dealings in some of
these stoeks&were in j 900 share blocks and up
ward: Elsewhere In the list, there were some
declires. American Ice preferred broke "a and
Minneapolis & st. Louis point. -. a.. ).
\ Trading was very Irregular for the first hour
on large volume of business. Opening gains
were yielded. - Anlalga nlated, -, Anaconda. the
local fractions, New York Central. Missouri Pa.
cifc and Rock Island receded n point FROM the
hest. =: Net losses of snalch were scored by
Sugar. General Electric. Chicago Terminal pre-
ferred, Illinois Central. st. Louis & San Fran
cisco second preferred, Toledo st. Louis & Wes-
tern preferred and New Haven. Buffalo, Roches-
ter & Pittsburg also lost 90 Lake Erie. &
Western preferred 8, and Westinghouse Elec-
trio 5. ..y~,> =.
Traders covered freely at the lowest and the
market rebounded sharply, some of the active
leaders recovering to the top level. Southern.
Pacific rose to ~ over last night. The market
then became dull. 49, -
Secretary of the Treasury Shaw arrived here
to-day from Washington. He visited the sub
treasury shortly before the opening hour and
conferred briefly with Acting Assistant Treas
urer Dantz and Cashier Mario. The secretary
it is understood, has come here to look into
general financial conditions.
The absence of liquidating pressure on the
market and the marking of call loans at per
cent helped to keep prices at a high level. Re
ports that the secretary of the treasury was IN
town encouraged rumors of treasury measures
for the relief Of the money market. Prices,
however constantly huctuated above and below
last nights level. At the top level of the sec
ond hour, Southern Pacific, Baltimore Il Ohio,
New York Central, Rock Island. Atchison, North
Western, Lake Erie & Western, the Eries, Chi
cago Great Western preferred B and lnterna-
tlonal Power were about point or more above
last night. Detroit Southern preferred, Mime
apolis, st. Paul & Sault Ste. Marie. Colorado
& Southern, Car preferred and Linseed preferred
lost / to ~. Third Avenue decline Az. After
a stiff reaction Southern Pacific rose to 63 u
just before NOON. Bonds irregular.
The demand for stocks abated somewhat after
st. Paul had reached 1854. Best prices In all
cases were shaded later by realizing sales, but
there WIS no important pressure anywhere out
side of ST. Paul and New York Central, which
reacted a point.
The reaction checked by rise in Amalga.
mated to the best, but drive against Southern
Pacific, which carried 1t below 81. renewed the
decline. Sugar reacted II and Erie second
preferred point. Iowa Central lost 4. Prices
were better again before o'clock
A turn against the shorts in eMtropolitan
Street RailWay eau caused jump of 81 over nd
Missouri Pacific. Grading and BROOKLYN 1ransi
got one 1 to 1as over last night. Minneapolis
& st. Louis rose g.: Canada Southern, 2: Della
Psse e. P aa sns pps
Street Railway then again fell back a point
each. Prices hardened again in some cases tc
the best and the closing was firm.
Stock quotations reported for The journal by
apois.
Closing figures are bid