The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-13
BREAK R In
PRICES OF STOCKS
COPPER AN Elk
CEPTIoN AT THE OPENING.
First Sales Were in Great Blocks, In
Guiding $4,000 Shares Of United
States Steel Common, 5000 Shares in
Union Pacifc-Market Quieted Down
After Noon, ~

New York, Dec. 13.-Opening prices Of stocks
today broke with great violence with the excep-
was lifted point over last night on sales OF
5000 shares. First sales ran as high as 300
shares in United States Steel, 10000 shares IN
United States Steel preferred, 5000 shares in
Union Pacific and 5000 shares in Erie. The
break in United States Steel preferred was ~,
in Union Pacific 2A, Erie ~, Baltimore & Ohio
2% Sugar IN, Missouri Pacific and PENNSYLVANIA
2, Smelling 21S, and the majority OF the actlVe
stocks i to 1%. n''"-~.,",.
In the frightened unloading Of the opening deal
ings there were such further breaks as Allis-
Chalmers preferred 9. Pullman I, Delaware q
Hudson 3H, Tennessee Coal 81, Great Northern
preferred 4. New York Air Brake g. Inc oe-
termined support Of Amalgamated Copper, which
lifted it points over last night, induced rush
tc cover the part of the bears and violent raj,
les ensued which extended all thru the Inst ana
were of very substantial proportions WIN the
;1ll in the storm of liquidation, the market pc
came quiet for time, but developed teVef1sn
tone again, and there were concessions pe1ore IL
O'Clock CT II to point.
With the reaction of " in Amalgamated Cop
per prices wavered, but with renewed support
for that stock the market steadied again fur
Their progress was made in repairing the early
inroads on prices which were practlcally re-
stored Atchison, Union Pacific, Missouri "a
cifc, Baltimore & Ohio, Ontario & western "a
ciic Mail and Brooklyn Transit rose point over
last night. North Western rose Ia and PAPER
and Colorado Fuel Ia; .Amalgamateo copper
touched 65ss. r..
AAooA
advance and became very quiet. Absence OF any
pressure of stock encouraged renewed bidding up
and top prices were made for Pennsylvania, st.
Paul, Missouri Pacific, Rock Island, Erie, Ten
nessee Coal and the United States Steel STOCKS.
Additional overnight gains reached to ~ IN
Pennsylvania, st. Paul, Wabash preferred,F Unit
ed States Steel and Tennessee Coal.
Bonds weak with some recovery at
noon.
Occasional reactions occurred during the after
noon but the general tendency was still upward
By 2 o'clock many representative stocks OF all
classes were quoted point or more above yes:
terday's closing. The list included members OF
the grangers, Pacifcs, southwesterns and coal
groups Amalgamated Copper touched 6Sas
The United States Steel stocks brought % and
ss1a, respectively, and Union Pacific touched
1854.
Amalgamated Copper ran up to 66B, but when
it yielded suddenly 27sa there was prompt re-
lapse in the whole list. Gains were wiped out.
but before prices got far below last nights level
support again offered and there was an effective
rally. Union Pacific rebounded to 2 over last
night. Lackawanna dropped 19s and American
Express 5 on single transactions. Amalgamateo
Copper did not hold it's rally well and the closing
was slightly feverish and dull.
Stock quotations reported for The Journal D!
Watson Co., brokers, Chamber OF commerce
Minneapolis. Closing figures are bid.