The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-06

New York, Jan. 6.-Heavy unloading of
the United States Steel stocks was the
feature Of opening dealings in the stock
market. This, with the depression in the
London stock market, weakened the whole
list. There We're successive sales of
United States Steel of 1000, 5000, 1000
and $500 shares. which carried it down
r.. There were running sales of $500
shares of the preferred at 55A and 54A.
compared with 56!a for the last sale last
night. The stock subsequently rallied
sharply.
Metropolitan Street Railway and Chicago
& Alton preferred lost ~, and declines
of L to ~ were registered lin Union Pa
cific, Atchison, Louisville & Nashville,
Brooklyn Transit, Manhattan, Amalga-
mated Copper and Sugar
The urgent selling of Steel terminated
after the opening and the market rallied
on buying for both accounts. Some be-
lated selling affected a few stocks. but
the general market was not influenced.
Rallies were not wide except in Metro
politan Street Railway and Amalgamated,
which recovered III and LIS respectively.
The latter sold well above yesterday s
close.
Locomotive, Steel Spring preferred and
Virginia Carolina Chemical advanced /,
while Canadian Pacific, Delaware & Hud
son., Lackawanna, Republic" Steel pre-
ferred, Colorado Fuel, Tennessee Coal and
Consolidated Gas declined I to IN and
Chicago & Alton IN.
A drive against ST. Paul later depressed
it to 1925 and the active list fell off sym
pathetically. Outside of few specialties,
which showed some resistance, prices
came back to about the opening: United
States Steel preferred showed resistance
to the reaction. 1873 - %gqs .
The fall in prices was resumed under
| free selling in all directions. st. Paul
Atchison, Union Pacific, Canadian Pacific
Baltimore & Ohio, Sugar and Tennessee
Coal were carried liz sztos;.2 under last
night, and the other leading coalers
| grangers and Pacihcs d point5{or more
LEAD preferred and Westinghouse Elec-
trio lost 3. United States Steel preferred
and Amalgamated relapsed{ to the lowest
Great Northern preferred rose 9. Cont,
mental Tobacco preferred liz and Chicago
Terminal preferred, IA 5tf$
Bonds were heavy at noon.
The market received but little relic
| from the intermittent buying of the shor
interests. Room traders perceiving thu
absence of inside support put out large
lines of the Changers and III "a cities. st
Paulaand Union Pacific bore the brunt o
the midday selling but offerings Of othe
stocks were also on a larg eHscale. Price!
were a little above the lowest att O'CLOCK
out the inquiry was EVefysSLnall. jan
/ Pressure relaxed for time but recov
1 cries were insignificantaand prices yielded
Iagain towards 2 O'CLOCK. The Pacifics
Igrangers and Pennsylvania: were most af
fected. Locomotive. preferred reacted ] \
/ and American Car, lost IL. &s5Ss. a. So
/ The market weakened again under fht
inf1uencerof the war scare, which affected
all speculative markets. Union iRacif,
4 fell full points, and losses in thestqori
! prominent aPacIfcs. ,grapgers, coalerss an
25to 8. Westinghouse Electric dropped
Laekawanna 4 and Northwestern 81
United States Steel touched 95s, com
pared, with, a previous low record of IL
Coverings by room shorts stopped the fa]
in prices. Maximum recoveries were i
point in Amalgamated, St. Paul and Bal
timore & Ohio. The closing was activ
and rather unsteady g * = ="
Stock quotations reported. for The Journal b
Watson 4 Co.. brokers, Chamber of Commerce
Minneapolis. Closing figures bid