The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-18
INNING FOR BEARS
IN WALL STREET
OPENING WAS IRREGULAR, WITH
DECLINES GENERAL.
Prices Crumbled Under Selling Orders
in the EARLY Trading Pennsylvania
Led Rally, but Realizing Again Set
Prices Back Before Noon.

New York, Aug. 1S.-The opening movement
Of prices in the stock market was irregular and
the trading was active and varied. St. Paul was
carried up Il and Northern Pacific nearly
point, but the CHANGERS and Pacifcs otherwise
were rather heavy at fractional declines: The
United States Steel stocks also opened q frac.
ton more than last night and Kansas & Texas
preferred lost point. @
Selling orders outstripped the buying. and prices
crumbled away after unsuccessful effort to
sustain the market by bidding up the transconti-
mental stocks. Before the reaction became gen
eral Great Northern preferred, Chicago, st. Paul,
Minneapolis & Omaha, Minneapolis & st. LOUIS
and Pittsburg, Cincinnati Chicago & st. Louis
had broad gains of 2 points, Carr preferred
LIS and the Northwestern stocks, Pere Mar
quette preferred, Locomotive preferred and Texas
Land Trust /. The more active of the strong
stocks surrendered their advances later. includ-
ing ST. Paul and Northern Pacific and North
Western fell ~ below yesterdays close. Large
fractional inroads were made In the value OF
representative leaders all thru the list and NeT
York Central, Louisville & Nashville, Atlantic
Coast Line, Southern Pacific, Delaware & Hud-
| son, Rock Island preferred Lead, United States
Rubber, Republic Steel preferred and Federal
Mining fell off 1 to " and Locomotive 2.
A very heavy accumulation Of Pennsylvania at
an advance of nearly point strengthened other
| stocks By sympathy. Long Island rose 7. CHI
! cago Terminal preferred "a and Mailing pre-.
ferred /. Locomotive rallied e. The evidence OF
realizing prompted traders to offer prices down
| again and Union Pacific yielded abruptly IN
| and Southern Pacific ". The effect was percep-
| tible the whole list and st. Paul, Atchison,
Chesapeake & Ohio Cleveland, Cincinnati, Chi
cago & st. Louis, Amalgamated Copper and
| Smelling fell 1, United States Steel preferred
| 1$ and Delaware s. Hudson and Iowa Central
preferred and Northwestern 2. Bonds were
steady at
I @ Changers Recover. ri
/ The grargers and Pacif1cs managed to recover
q triHe despite the continuance Of the selling
| movement in number of other stocks Offer
ings very moderate. but comprised large
| variety of stocks. Delaware & Hudson yielded
/ 4 points, General Electric 2A, Toledo, st. Louis
! & Western preferred IL and Illinois Central,
Rock Island, Ontario & Western, Chicago &
Alton, American Car, Colorado Fuel Tennessee
Coal, United States Steel, Peoples Gas and
United States Reduction preferred 1 to IN.
Market Becomes Dull.
A better tone prevailed in the late afternoon,
| but only in few instances did the extreme re-
| cover1es reach much as point. The exhaus'
ton of the selling movement threw the mar
ket into comparative dullness. few stocks
dropped off at intervals. Northern Pacific lost
/, Great Northern preferred 8, and Pullman, Az
Stock quotations reported for The journal by
Watson & Co.. brokers' Chamber Of Commerce,
Minneapolis. Closing figures are bid. 49,