The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-15
TRADING IN BIG
BLOCKS OF STOCK
WALL STREET MARKET OPENED
sTRoNGf WITH GOOD DEALS.
Pressure Of Offerings Later Made In
roads on Prices and Some Of the
Opening Advances Were Wiped Out.

New York, Sept. 15.-The stock market today
opened strong, with blocks Of 1000 to 1850
shares of several of the leaders changing hands.
Gains ran from rs to %, the latter figure show
ing for ST. Paul, Chesapeake & Ohio, Kansas
Texas and United States Steel. The opening
sales of Erie We're $500 shares ut 329s and
32h, compared with 32A last night, and United
States Steel preferred opened with running sales
of 5000 shares at 671a and 673s, compared with
6eh last night.
. Profit taking after the opening we'll alb
sorbed for time owing to the sustaining ef-
feet produced by further advances in the United
States Steel stocks and Pennsylvania The pres
of offerings made inroads on prices later
and some of the opening advances were wiped
out. drop of ~ in Colorado Fuel and severe
pressure against Reading facilitated the decline.
Pennsylvania, however, moved up again to l32A /.
aes see rise
there were also advances Of to Ia by North
Western, New Jersey Central, Denver & Rio
Grande, Toledo, st. Louis & Western preferred,
Minneapolis & st. Louis Railway Steel Spring
and Bag preferred. .r...a .. II
With a rally IN the grain markets prices react
ed and the general level fell below last night.
Some of the grangers and Pacifcs showed losses
of large fraction. The local fractions and
smelling stocks lost l to 1% and Union Pacific
Is. United States Steel preferred lost its rise
and other gains We're reduced. There had been
gains of n in Canadian Pacific and Sloss-Shef
field Steel and a point in minor stocks.
Bonds were irregular at noon. =. -
Concerted buying of junior Pennsylvania stocks
st1nened the market but the western stocks did
not rally very substantially. The buying first
appeared in Norfolk & Western, then spread III
turn to Chesapeake & Ohio and Reading and
finally assumed considerable dimensions in the
United States Steel stocks. New York Central
touched 12s. Pennsylvania again to 1924
and the United States Steel stocks brought II n
and 67B respectively. ..: -- ..-
Norfolk & Western and Chesapeake g. Ohio
gained point each and Reading recovered to n
over asst night. i-r - - 4,
Speculative buying shifted into Louisville s
Nashville and controlled properties and New York
Central became buoyant jumping 31a to 1291 u
The United States Steel stocks also continued to
move vigorously upwards The common stock i'm.
proved 2 to 1917, and the preferred rs tc
6Sh. While these stocks were forging upwards
the western, stocks held barely steady. Penn
sylvania. ran off good fraction and the whole
market yielded before o'clock.
The volatile rise in the Louisville & Nash
vile group proved rather unconvincing to senti
nent and traders were disposed to realize. Adj
vances of 2Q4k i'll Lackawanna, Central of New
Jersey and Toledo st. Louis & Western stocks
again to 51a under last night and Atlantic
Coast Line reacted 81, North Western 1B ant
New York Central r. There was furry alst
in call money, and the whole list was sold freely
The United States Steel stocks, Pennsylvania
and subordinate stocks, the cor carriers and al
the strong features reacted a point. and st
Paul, Atchisen, Rock Island, Union Pac life
Southern Pacific. Erie and Tennessee Coal fell al
much under last night There were some ligh
rallies. but the closing was easy.
Stock quotations as reported for The Journa
by Watson & Co., brokers. Chamber Of Com
merce, Minneapolis n. IT,;
Closing figures are bid. q,