The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-13
ANOTHER WILD =.
DAY In STOCKS
Wall Street More Nervous on the
Opening Than Since N. P.
Panic.
AMALGAMATED COPPER
CENTER OF INTEREST
Greene Consolidated Copper Also
a Point of Attack, Still
Is Greene's.

New York, Dec. 13.-Today's stock
market opened weak and excited, with
prices generally lower. The opening
transactions showed some confusion,
there being wide variations in quota
tions on sales made apparently at the
same time.
Amalgamated Copper opened from
It closed last nil ht at 6lA.
The curb stocks also were weak.
Green Consolidated Copper sold from
% to 22A down to 10. Northern Sc
curities sold from 1872 down to. l22,
Yesterday 8 weak closing IN the
stock market and the natural conse'
quences precipitated heavy selling
thruout the list this morning. The only
evidence Of support was in Amalga-
mated Copper, Of which 5000 shares
sold at els and 621s, compared with
611a last night. Thirty thousand shares
Of United States Steel sold at 261a and
rs, compared with 26B last night; 49,
900 shares Of the preferred at S51a
and SO, compared with SIN last night,
1O4A and los, compared with 1861 last
night. The last-named subsequently. re-
coded 2A. There were breaks besides
of 2% in Baltimore & Ohio, 21a in st.
Louis & San Francisco second preferred,
PA in Erie, 21s in Smelling. 2 points in
Pennsylvania and Missouri Pacific, 2A
in Sugar and l to TX in long list OF
prominent active stocks.
Wall Street Worried.
It is no exaggeration to say that
Wall street began the day with more
anxiety than it has shown since the
May panic Of 1901. Reasons for this
feeling were plenty, chief among them
being the absolute collapse Of the mar,
ket at yesterdays close, revealing weak
spots in unlooked-for places;
rumor was in the air this morning, and
the names of individuals and firms, who
are commonly supposed to have suffered
by the break were freely, il privately
mentioned
events, the gallery Of the stock ex-
change held a large crowd Of onlook,
bers, many Of them old timers who sci.
dom appeared there save on momentous
occasions. The subdued noise which
prevailed at the opening broke into G
roar at the first sound Of the chairman 4
gong.
The greatest crowd was again AROUND
the Amalgamated Copper and Unltet
States Steel trading posts, where brok
ers fairly mauled one another in thei
efforts to execute orders. Many O.
these as indicated by the opening quo
tations were to sell at the market.
Operators were receiving and sendln
countless messages and it seemed as
the country at large was waiting o.
Wall street.
Tape Behind Market.
Before the end Of the first half hou
che tape was ten minutes behind tn
market. Powerful support quickly be
came manifest and there were spas
modic rallies all thru the list.
The bears rushed to cover and ca
ried Amalgamated Copper three point
over last night. Southern Pacific, Co
orado Fuel and International Paper IT
covered to point over last night an
fractional gains were established
United States Steel, Baltimore & Ohi'
Union Pacific, Pennsylvania, Norfol
& Western, Ontario & Western, Atch
son, Rock Island and Kansas & Texa
or practically so in Missouri Pacifi
Southern Railway and Peoples Ga
Recoveries elsewhere were not con
plete, but showed violent rallies fro
the low point. A break extended t
nine points in Allis Chalmers preferre
7 In Pullman, 81 in Tennessee Goa
The trading was extremely feverish fl
q time on the rally, but the mark,
settled down into quieter tone befol
IL o'clock.
Greene Consolidated.
Greene Consolidated Copper rallit
to rs. At II o'clock it sold at 231
During the early slump it was report'
LII boI To- M
troll Colonel Greene made the Fl
lowing statement:
Control Of Greene Consolidated Copp
rests with me and my friends, as it h
from the time took hold. today ov
$4,000 shares out of a total Of S64 ,0C
of my holdings, 100000 shares were pu
chased by me within the last few day
Next to myself, Edward H. Hartman
the largest individual holder Of Gree
Copper. To the best of my knowled
neither III. H. Rogers nor any of t
Amalgamated Copper company interes
have ever owned a single share of Gree
Copper. Together with my friends I co
troll vastly more than majority Of t
capital stock
Call Money in Market.
Call money opened at per cent, he
at that figure turnout the morni1
London TRADED DOth ways, put prODat
sold 10000 shares on balance. T
story was told that just before t
opening here, $4,000 shares Of Unit
States Steel preferred were dumped
the London market, the object appare
ly being to depress prices here. II
don doubtless sold back all this stock
profit. One room trader, is said
have bought $4,000 shares of Steel p
ferred, which he sold at profit Of
points Numerous similar qui
s'turns' were made on a smaller sea
The recovery conveyed the theory tt
the greater part of the weak intere
has been com pleted. The buying pov
in the Judgment Of onlookers was o.
better quality than had been seen Sill
the beginning Of the decline.
Lawson a Figurehead.
The opinion is expressed in W
street that Thomas w. Lawson is me
ly fgurehead. There was much y
terday to warrant the belief that pt
erful interests are aligned, if not
lied, with him in an effort to shs
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