The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-04
WALL STREET IS
GETTING RATIFIED
NORTHERN SECURITIES FIGHT
UNSETTLES MARKET.
Opening Feverish and Lower-Union
Pacific Breaks Badly Paul Raj
lies in Face of General Selling
Prices Harden Notwithstanding
suspension-D oings of the Day.

New York, April 4.-The stock market
to-day opened feyerish ana unsettled as
a result Of the litigation by the Union
Pacific interests against the Northern Se-1
cur1ties dissolution plan. Union Pacific
jumped 13s and ST. Paul broke IA as a
reflection of this influence.
Prices generally were lower, the de-.
clines We're running to about a point in
Southern Pacific, Amalgamated Copper
and Sugar. Peoples Gas ran off IL after
opening unchanged.
The decline in the market became pro-
nounced when Union Pacific and Peoples
Gas broke badly. Union Pacific sold down
from 81 to 84%, and Peoples Gas fell ~
below Saturdays close
Declines elsewhere reached four points
In Chicago & Eastern Illinois certificates
and to 1h in Atchfson, Baltimore & Ohio
Reading, Delaware & Hudson, Erie first
preferred, Missouri Pacific, Canadian Pa
cific, Kansas City Southern preferred and
General Electric.
st. Paul rallied in face of the general
selling, then reacted and finally rallied
over a point again pulling the market up.
Union Pacific got back to a fraction above
last weeks close and Peoples Gas recov-
cred Ia. Otherwise the rebound was
slight
Prices hardened in spite of the suspen-
sion of stock exchange house which was
not considered important. Union Pacific
|
up to 1915 and Peoples Gas rose nearly a
point over last Saturday.
The recovery in the general market
/ reached only about Saturdays closing
level. The advance was characterized by
heavy selling Of United States Steel pre-
ferred which carried it down point and
| Union Pacific reacted to S8.
United States Rubber preferred rose 2ss
while Wheeling & Lake Erie first and
second preferred, Denver & Dio Grande
ST. Louis Southwestern preferred and Chi
cago Union Traction preferred fell 1 A to q
Bonds were irregular.
The market made but listless response
to the new drives in Union Pacific to S9as
and promptly eased off when that stock
reacted point. Peoples Gas was solo
heavily again just before 1 o'clock an6
got back to near 96.
Effective selling went on at intervals
during the afternoon, forcing the list dowr
to near the low point of the morning ant
some stocks below. The violence and FIRE
quent fluctuations in Union Pacific an6
Peoples Gas had a repressive effect or
the speculation. Wabash preferred lost
la point, Amalgamated Copper III, Sugar
IN and Delaware & Hudson over 2. At
o'clock Union Pacific was lowering around
So. Peoples Gas rallied to 97h, but rar
off again. Smelling preferred and Unior
Pacific preferred gained I.
The market lacked any material sup
port. closing weak, with July 1@1kc low.
er at 52A @52Ac,
A sudden demand sprang up for Chica
: go Great Western which lifted that stock
TX and the preferred B 1. Union Pacific
touched 30. Republic Steel preferred rose
1A and the preferred B ". Union Pacifi'
eral market continued sluggish. Kansa:
City Southern rose2 and Tennessee Goa
, 1. Union Pacific ran off again to below
80, and the closing was dull and heavy.
The following the stock quotations fur
nished for The Journal by Watson & Co., Cham
| Der OF Commerce. BIZ. 49, "a a. Of
: Closing figures are9bid.3