The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-01
Mar Scare and TAX Of Kansas Dr0ugAtG
GIBRALTAR BEARS
DOWN ON STOCKS
WARLIKE PREPARATIONS THERE
CAUSE DECLINE IN PRICES.
Sluggish Market Suffers Severely from
Action of England 500 Stocks
Among the Earlier Ones to Feel
Pressure of the Morning ST Paul
Also Hard Hit.

New York, Nov THE opening dealings in
stocks today were irregular and changes were
unusually .lI,lu narrow Amaigamated Copper rose a
point on the purchases OF 5000 shares and then
reacted y Reading gained " and Rock Island
declined Is, while st. Paul fell "a.
Inc opening hesitancy was of brief DURATION
as tne execution of large orders for Sugar, ANAL
gamated Copper, st. Paul Union Pacific and
Rock Island carried the market substantially
above yesterdays closing. AmaIgamated Copper
stouched 69B and Union Pacific 111s. Other
Hudson and in New York Central Reading
ontario & Western and the Metropolitan stocks.
ExceRtions to the rise included Wheeling s.
Lake Erie. which lost r. and Illinois Central
way preferred Smelling preferred, Manhattan
and International Paper 1 to IN. Top prices
were not maintained and trading became quiet on
the decline.
The market became duller during the second
hour than for several weeks, until the slow, sag
ging tendency gave way to faster declines. Only
fractional remnants were left Of any of the
gains, and the average level Of prices fell be-
low yesterday Minneapolis, St. Paul Sault
Ste. Marie lost 8, the preferred 81, Colorado
Southern rs, Cotton Oil LIZ, Pacific Mail 1ss
and st. Paul Atchfson, Missouri Pacific, Rock
Island, Reading, Norfolk & Western, Brooklyn
Transit Pressed Steel Car, Peoples Gas, Colo
RADIO Fuel and Kansas & Texas to IL. There
had been gains by Great Northern preferred Of
Virginia Carolina Chemical and Consolidated
Gas 1.
Bonds We're irregular at noon. United States
Steeel second 5s lost 1 In addition to the inter-
est of. ~ :. .s.5z@
Prices declined rapidly with the news of the
warl1ke preparations at Gibraltar. st. Paul
fell an extreme 2ss, Brooklyn Transit, Manhat-
tan and Kansas & Texas 2, and Louisville &
Nashville Rock Island, Union Pacific, Canadian
Pacific, Reading and Colorado Fuel IL to g.
Practically all of the active stocks of the list
were brought within the one-point range Of
losses
The violence of the afternoon decline induced
some heavy covering by the shorts, and the mar
ket rallied from u to point turnout. The
rally was for the purpose of further sellin, and
the market broke. abruptly to the lowest. st.
Paul sold 31s lower than last night, and Union
Pacific, Reading and Hooking Valley about 2.
Brooklyn Union Gas recovered with the declara-
ton OF dividend Of l. per cent on the stock.
There was an almost immediate rally of point
in Union Pacific. ~.
A steady but aggressive rally in prices on
moderate buying Wild out all but small frac-
lions OF the general losses. Amalgamated Copper
was carried 8 over last night, United States Steel
preferred rs. Sugar rs. Metropolitan Street
Railway n and some others small fractions. The
closing was active and very strong. S
Stock quotations reported for The Journal by
Watson u Co., brokers'. Chamber of Commerce,
Minneapolis Closing figures are bid.