The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-16
SHARP DECLINES
AT THE OPENING
UNEAsINEss OVER INTERNATIoN-
AL RELATIONS THE CAUSE.
Losses Ran Large Fractions in Several
Z of the Railroads, Steel and Copper
\ Industrials Showed offsetting Gains
EARLY Resistance Failed to Stem
8 the Pressure, 8 ~

New York. Nov. 16-The uneasiness in London
over international relations was reflected in sharp
opening declines in the stock market here III all
of the international Losses ran to large
fraction in Atchison, Kansas & Texas, Norfolk
& Western, Southern Pacific, Southern Railway
United States Steel and Amalgamated copper.
The offsetting gains were principally among IN
dustrials and specialties Detroit Southern pre-
ferred rose Is. -
Stout resistance was offered in spots to the
market yielded in all directions, and by II
o'clock the leaders were selling we'll under yes
terday's closing. Union Pacific Southern Pa
cffc and United States Steel stocks were assatled
vigorously, as We're some of the eastern and
southern stocks. Overnight losses in the rail-
roads reached point in Southern Pacific, Union
Pacific, Erie, Baltimore & Ohio, Atlantic Coast
Texas, Louisville & Nashville and st. Louis
Southwestern preferred, and 2 in New York,
Chicago & st. Louis. Among the specialties,
the United States Steel stocks, Tennessee Coal,
Smelling, Virginia. Virginia Carolina Chemical,
North American, Tobacco preferred, new certih-
Gates and Manhattan suffered to the extent of a
point or more; Realty 2, Biscuit ] "a and CONSOLE
dated Gas Ia A few gains were made. Rock
Island preferred and Cotton on rising 1, Toledo,
st. Louis & Western preferred and Steel Foun-
dry preferred ~, and New. York Air Brake 81
Prices We're above the lowest ct II o'clock and
The rally carried Rock Island, Missouri Pa
cific, Union Pacific, Norfolk & Western, Chesa-
peake & Ohio, Amalgamated Copper, Sugar and
above. Chicago. & Alton, Metropolitan securi-
ties and Hide & Leather preferred rose III to
IL. The demand died OUT at the rally and
the market became dull and irregular some
stocks receding to- the lowest. Atlantic Coast
Line lost 2as, Louisville & Nashville rs, and
New York Central, St. Paul preferred. Wheeling
Lake Erie first and second preferred and Chi
cago Union Traction point.
Vulcan; DEFINING sold at 2M, compared with
the previous price in December of 51a. Some
OF the active speculative bonds reacted, but in
vestment Issues were firm at noon.
Efforts to revive general buying by advancing
special stocks proved unavailfpg, the room trad
ers utilizing Sthe higher level to put out more
stock. Bidding up Of Amalgamated Copper t.
I'M, and more extensive advances in minor
| stocks occurred after II O'Clock but the effort
| on the standard stocks was. only transient ant
prices sagged again. Wabash preferred, lows
Central. preferred, Sugar preferred, Corn Prod
ucts preferred and Paper preferred were forced
down l to IL. The advance reached 31a IL
Canada Southern, In United States Express
2M In Hide & Leather preferred, 2 in NORTH
American and 1 to- IL in Amalgamated Copper
nois certificates.
Concentrated buying Of the soft coal stock
| and a jump in Amalgamated Copper enlivenet
the afternoon dealings, and the general marke
! recovered moderately in sympathy. Chesapeak,
| & Ohio, Norfolk Western and Hooking Val
| ley gained TX to ~ Toledo, st. Louis
Western preferred rose 21h and the genera
railroad list fraction. . Amalgamated Cope
was PuI oooSe 10, ana sugar was taken freel,
| at an advance of a point Pacific Mail rose 2
Hide &$Leather TX, and the preferred N. Re
| al1zing sales became effective at 2 O'Clock an,
| the market eased of - =, -@
Amalgamated Copper touched 1871 in the las
hour North American rose'4 and United State
Express .. Prices wavered elsewhere. Genera
Electric. Paper, Denver & Rio Grande preferred
Delaware & Hudson and Lake Erie & Wester
| declined to IN. - asa =, = :,
There was free selling in the late dealings
and Southern Pacific, Rock Island Louisville
Nashville. Erie and some others ran Ionf tn .
lower <point sthan in the morning. The closin
was active and easy. re. w. =
Stock quotations reportedafor The Journal b
I Watson 4 Co.. brokers' Chamber of Commerce
Minneapolis Closing figures are bid.