The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-11
BEARS IN A PANIC
They Fear They Have overdone I
and There Is a Rush
to Buy, +.
The Rebound in Prices Is Sudden
1t Continues, as a Rule
Until Noon.

New York, June 1.-THE stock market opened
this morning with the bears in panic and enor-s
nous blocks OF stocks were bought on u rising
scale and at a rebound in prices exceeding the
opening drop OF yesterday. Opening gains ran
all the way from to u. the latter for Norfolk
& Western. Five hundred shares Of Atchison
sold at 651a and the neSt5sale was Il, 900 shares
at 66 and 81, compared with 81 last night.
Six thousand shares Of Erie sold OF 29R to 3OA,
compared with 20 last night. The opening gain
In ST. Paul was pa and in Union Pacific 21s.
United States Steel preferred and Baltimore &
Ohio opened wide on the sale Of 5000 and $500
shares respectively.
Profits were taken Immediately on the bulge
In the active stocks and there was some pressure
OF leftover liquidating sales. st. Paul, Atchi-
son, Norfolk & Western, Southern Pacific and
Union Pacific relapsed point Meanwhile other
stocks were advanced vigorously. These gains
ran from Y to az in New Jersey Central, Del
aware & Hudson, Erie first and second preferred
the ST. Louis Southw esterns New York Central
Chicago Great Western. Denver & Rio Grande,
National Railroad of Mexico preferred. the Wa
bash stocks. Minneapolis, st. Paul & Sanlt Ste
Marie, Wheeling & Lake Erie second preferred,
| Consolidated Gas Brooklyn Transit, Metropolitan
Street Railway Tennessee Coal and North Amer
lean Pittsblurg, Cincinnati Chicago st. Louis
jumped s.. Iowa Central. preferred broke g. and
New. York, Chicago & st. Louis second preferred
Az. Prices of the leaders We're rising strongly
again at IL O'clock and some Of them had rallied
| to the high opening. prices. ,;5s.
| The pressure to sell stocks was light on. the
advance anu prices continued to advance even
with smaller buying. The leaders generally rose
above the opening, the gain in Atchison extend
ing to 81 Baltimore & Ohio and st. Paul 8,
| Missouri Pacific and Southern Pacific 2A and
Union Pacific, Louisville,g Erie, Reading, New
| York Central and Amalgamated 2@21a. Gains
| of 2 or over were numerous amongst stocks OF
secondary Importance Northwestern rose 81
The bond market was, dull but strong at noon. +
! Railroad stocks eased but as offerings were
very slight not much impression was made or
prices and the advance was resumed under the
/ lead of Sugar and sAmalgamat ted These stocks
advanced and rs respectively. and pulled the
Pacif1cs, st. Paul and Reading above their NOR
ming prices. Pittsburg; Cincinnati, Chicago 8
| st. Louis rose S1a in all. Delaware & Hudson
4 Az. New Jersey Central and Reading second pre-
ferred, By each, Pullman 2A and Illinois Cen
! trail 2.
Proft-taking sales were again INDUCED in and
the market responded with losse Of 2 points II
New Jersey Central and one each In Reading
Missouri Pacific, Illinois Central and Amalga
mated New buying orders appeared: at thu
lower range and the market rose easily again tt
near the best. Dealings were small on the re
action and at the recovery. Brooklyn Union Cal
advanced AZ, Consolidated Gas AZ, Detroi
United Railway 81 and Pressed Steel 2.
Stock quotations reported for The Journal b
| Watson 4 Co., Chamber of Commerce. Mime
apolis.
| Closing prices are bid