The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-04
HEAVY BUYING
ON w ALL STREET
r 53+s + Z Is
MARKET STRONG, DESPITE ENOR-
NOUS REALIZING SALES.
Pressure on Some Stocks Sufficient to
Force Reaction Prices Generally
Well Sustained-Inactive Securities
Advance - Movement Irregular -
Details of the Days Proceedings.

New York, Dec. 4.-Prices started up |
wards in the opening dealings In the
stock market to-day on the transfer of
large blocks of most Of the prominent
stocks. There We're gains in Iowa Central
preferred Of IL. Sugar ex-dividend 1 n
oss-Sheffield Steel point and United
States Steel preferred and Norfolk & Wes-
tern 81
There was enough new buying awakened
by yesterdays demonstration Of strength
to hold the market fairly we'll, despite the
enormous realizing sales. In some stocks
the pressure was severe enough to force
! them slight fraction below yesterdays
closing, but the market in general was well
sustained. Brooklyn Transit, Peoples
Gas and some of the usually inactive high
priced and loW-priced stocks rose strongly.
The principal gains were Peoples Gas,
Brooklyn Transit and Colorado & Southern
first preferred 11a, and Colorado Fuel,
Consolidated Gas. General Electric Re-
public Steel preferred, St. Paul. National
Railroad Of Mexico preferred and Texas
Southwestern preferred l. Pittsburg,
/ Cleveland, Chicago & st. Louis preferred,
International Paper preferred and Toledo,
st. Louis & Western preferred improved
II points. Sugar lost its advance and
Pressed Steel Car, Toledo, st. Louis &
Western and North-W estern lost a point
The advance was renewed at some
points and heavy realizing continued at
others. The market continued very active
land irregular.
Strength at new points was taken adj
vantage Of to realize and reactions We're
mixed with the gains. United States
Steel preferred became buoyant with a
rise Of rs and Rock Island and a number
of the Coalers rose between / and 2. Wes-
4 tinghouse Electric rose 5A and the first
(. preferred 5. Bag preferred lost 4, and Chi
cago & Eastern Illinois certificates Az.
/ Bonds were firm at noon.
1 The aggressive bidding up OF special
/ stocks ceased for a time under the over
whelming proft-takjng sales. Reactions
however, were small and at 1 o'clock the
market was rising vigorously under the
{ lead of Brooklyn Transit and United States
q Steel preferred. Amalgamated and Union
Pacific were brought into prominence and
the buying of Pennsylvania and Reading
was renewed on a large scale. Leading
stocks generally brought higher prices
than in the morning and the volume OF
business was fully as large. Brooklyn
Transit touched 47A and United States
Steel preferred So, these figures repre-
sented gains Of 31s and 314 respectively
Union Pacific, Amalgamated and sprink-
ling Of other active stocks showed gains
CT about a point.
Sales by operators who considered the
,, pace too fast affected the entire market
: slightly and especially United States Stee
: preferred which fell off 11s. When these
! offerings had been worked or the marker
:, began to stiffen again but the movement
did not obtain much force, outside of the
} local fractions. Brooklyn Transit bounded
]. up to near SO and Manhattan, New Yorl
Il Central, Missouri Pacific and Leather pre-
ferred sympathized to the extent Of {
, point and Metropolitan Street Railwa,
2ss. Tennessee Coal moved up two am
Buffalo, Rochester & Pittsburg ana Ana
conda. 9. Sloss- Sheffield Steel A. and Lack
awanna 6h. ''s.s ~ z ~ ft.t
The late uprush Of Brooklyn Transit die
not hold the market and the continues
realizing Carried the average prices bacl
s. a point, wiping out the gains in man!
g prominent shares. Late gains were II
westinghouse Electric preferred, 10; LAX
Erie & Western preferred, Z; the common
21a; Pipe preferred, 4, and Norfolk
i Western preferred, 2. Brooklyn Transl
reacted 25a. The closing was dull an
easy.
Stock quotations reported for The Journal b
Watson 4 Co., brokers, Chamber OF Commerce
minneapolis:
: Closing figures are bid. tE&4E