The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-10-20
STOCKS OPEN OFF
But SOON RALLY
HESITATION AT THE START FOL-
LOWED BY STRENGTH. -.
Conspicuous Bidding for Special Stocks
Aids the Rise-Later Liquidation
Checks the Advance and Prices Sagg
Before the Noon Hour.

New York, Oct. 20.-The opening stock market
today active and irregular, with the major
ity of the important stocks a small fraction low
er. There was evidence of strength amongst the
coalers, Ontario & Western rising a point, but
Reading huctuated feverishly. st. Paul and
Illinois Central gained u, Tennessee Coal and
Brooklyn Transit point, and Metropolitan
Street Railway 1%. The United States Steel
stocks were under pressure, 1000 shares of the
preferred selling at S1A and S1ss, compared
with S1A last night. The common lost ~ and
Pressed Steel Car X. louisville & Nashville
and General Electric were down point.
After the opening period Of hesitation, the
market gathered strength and retrieved its
loss. Conspicuous bidding for special stocks
ment was checked by renewed liquidation Of
United States Steel preferred. In the interval,
Ontario 4 Western rose 1A, St. Paul. Erie first
preferred, Hooking Valley, Colorado Southern
Railway points. Adams Express rose ~.
st. PauIs rise was Cancelled and United ties
Steel preferred driven Is, the common and Union
Pacific x, New York, Central and Northwestern
1 and Kansas City Southern preferred IN below
yesterdays closing at IL o'clock.
Prices sagged lower, but the selling became so
desultory as to invite an attempt at rally.
The local fractions led, but heavy selling was
Union Pacific and prices fell back to the lowest.
Missouri Pacific got y under last night, United
states Steel L and the preferred II: Central
of New Jersey, Louisville & Nashville, Consoli-
lost III. Snuff rose 5. Business was smaller
than for several days past. Bonds were irregu-
lar at noon.
The decline carried New York Central and
Pump preferred down 2h, and Colorado Fuel 2.
The market then rallied with vigor than
at any previous time during the day. The local
fractions led Metropolitan Street Railway ris-
ing 3b, Metropolitan Securities 2b and Man
haitian rs. Chicago Great Western gained II
The rebound carried st. Paul and Atchison
good fraction over last night Colorado Fue
| a point over, and other active leaders to the
neighborhood Of last nights level.
The market broke precipitately for a time
after ~ O'Clock and considerable stock lei
| go. Representatives of stocks of all classes
| broke sharply, losses reaching a point there
! abouts in some of the grangers, Pacifcs, south
| westerns, trunk lines, coalers and specialties
United States Steel fell to 20 and the preferred
| touched S0A. Prices ruled slightly above thu
| lowest at I o'clock.
Prices sagged slightly, but stiffened again witt
| the enormous buying of Ontario & Western up t,
above 40. Metropolitan Street Railway touched
III. Colorado Fuel gained and Peoples GA
and Lackawanna point. The top level of tn
rally was recovered and the strength of Ontario
& Western held the closing firm.
Stock quotations reported for The Journal b.
Watson & Co., brokers, Chamber of Commerce
| Minneapolis. Closing figures are bid