The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-01
MONEY IS FIRM;
PRICES SUFFER
OPENING SHOWS WIDE vARIA.
TIoNs BOTH WAYS.
But Selling After the Noon Hour
Causes General Decline Firm Gall
Money and Uneasiness Over Russian
Affairs Cause Of the Depression.

New York, Dec. 1.--Opening prices in the
stock market showed some wide changes both
ways. Anaconda advanced A points, American
Tobacco preferred 1A, Lead 1 ", Railway Steel
Spring 1h, United States Pipe ~, Smelling,
Amalgamated Copper and the Republic Steel
stocks about point and Brooklyn Transit, Lo-
connective, Virginia. Carolina Chemical and North
ern Pacific large fractions. The notable declines
were Northwestern Ia, Tennessee Coal and
Reading q point and United States Steel pre-
ferred, Union Pacific and st. Paul large trac-
tions.
Z After preliminary efforts to test the general
temper of speculation by bidding up this stock
and lowering that, the professionals commenced
operations i'll the southern iron group for a rise.
Gradually other stocks In immediate favor were
bid up and before the expiration OF the hrst
hour prices began to rise briskly Standard
railroad stocks, however. were unable to get
much If any above Wednesdays close, the con-
gested numerous specialties reducing operations
in railroads to small compass. New York,
Chicago & st. Louis improved 3N, the second
preferred ~, Railway Steel Spring preferred B.,
the common and Locomotive and Virginia Caro-
lima Chemical IN, Sloss-Sherield Steel 2. Short
~ before IL O'Clock the entire market became
heavy and the western railroad stocks were
driven below the opening level.
Efforts were made to control the general
reactionary tendency by marking up specialties.
Lead was lifted 81. the preferred and smelt,
I ing, General Electric ~ Cotton OIL IN and
Pressed Steel Car, United States Rubber, Sugar
| and number of minor industrials and railroads
| point. The general list was unresponsive and
worked lower. st. Paul declined 14, Kansas
City Southern preferred liz Union Pacific Ia
and Canadian Pacific, Missouri Pacific, United
States Steel preferred and few others point
or more. The frmness of the call money market
and uneasiness over Russian affairs were the
causes Of depression. Bonds were irregular al
| noon. a5e -
| Selling orders were much larger in volume
after II O'Clock, and large inroads were made or
| prices. Most Of the we'll known stocks suffered
severely, the losses reaching 3 in Tennessee
4 Coal, 2 in st. Paul and / or more in many
others, including the Pacifcs, Reading, Ontario
| & Western, Erie, Delaware & Hudson, Pennsyl
vania, New York Central, Louisville & Nashville
Atlantic Coast Line, Cleveland, Cincinnati Chi
cage & st. Louis, Brooklyn Transit, COLORADO
Fuel, Anaconda Mining and International Pump
| Central Railroad of New Jersey exceptional,
| moved up points and st. Louis & San Bran
cisco second preferred /. M ,5@&
lnefectual efforts were made to stimulate tn
1 market in the afternoon, but, altho the selln,
was checked, scant progress was made towarI
recovery, and the fractional gains that wer
made were not held. The selling of Lea.
caused only partial REIMBURSEMENT Of it's gain
and When this pressure ceased it moved u
steadily to 771a, rise since Wednesday of AZ
1 Havana Electric also shot up 3ss and the pre-
ferred 8. American Wooden lost ~
Reported for The Journal by Watson & Co.
chamber OF Commerce. Closing prices are bid
Stock quotations reported for The Journal b
Watson q Co.. Chamber of Commerce MINI,
apol1s. Closing figures are bid NJ.