The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-28
Honey AWAY UP;
MARKET STRONG
IN CALL MONEY RATE
SLIGHTLY AFFECTS STOCKS.
Heavy Selling Shortly After Opening
Is Soon Followed by Vigorous Rally
Tho Call Money Reaches 1875 Per
Cent, Prices Advance Interest Rate
Slumps.

New York, Dec. 2s.-Eary prices Of An,eri-
cans In London showed recoveries from yester
days weakness here. but the opening of the
stock market here was decidedly irregular and
very active. Changes were mostly restricted
to small fractions. but Canadian Pacific and
Yirgini y Dina Chemical made gains Of
point : samated rose ", but subsequently,
lost !
AS t of yesterdays high money rates
there heavy selling after the market
had fairly opened. Reports of discrimination
large amount OF inuustrlal stocks solo, especially
those which have recently had "a sensational
advance. The railroads as group stood up
better under the liquidation. The declines We're
So, Amalgamated Copper, Lead Chicago Great
Western preferred ~. Consolidated Gas,
Pressed Steel Car, Sugar Smelling and Pitts
burg, Cincinnati, Chicago & st. Louis 2, st.
Paul, Brooklyn Transit and Republic Steel pre-
ferred u and Union Pacific, Atlantic Coast
Line, Canada Southern, Virginia Chemical pre-
ferred Cotton Oil and Metropolitan Securities
1@1A.
About 1880 there a vigorous rally which
brought the standard railroad stocks pretty we'll
up to yesterdays closing. Tennessee Coal sold a
and Colorado Fuel rallied and Lead and Sugar
point. When the first call money loan was
made at 80 per cent and the rate soon reached
100 per cent stocks were sold anew, but only in
a few cases did they get lower than before. y:
Prices Of stocks advanced in spite Of 125 per
cent paid for call loans and the holding of the
rate near to 100 per cent. Pressure to liquidate
became Insignificant and prices rose without APP
parent difficulty to fraction over last night.
New York Central was lifted to IN over that
level, Canadian Pacific i, Corn Products 29s,
the preferred B. Anaconda g. Manhattan IN,
American Beet Sugar 13h and Locomotive, Hide
& Leather preferred and Metropolitan Street
Railway l. The high prices. We're not fully
maintained but the market was quiet and free
from pressure at noon. Bonds were heavy.
The tension in the money market appreciably
relaxed, funds being offered at 60 per cent.
nation, and there was wild squirt in Ana
nation, and there was a wild sprut in Ana
conda Mining of 80 points to 275. Union Pa
cifc gained 2as, Canadian Pacific 21s, st. Paul
2 points. Among, the specalties Smelling and
Hide & Leather preferred rose 8, Amalgamated
Copper and Virginia Carolina Chemical 2h, Ten
nessee Coal and Smelling preferred 2 and the
United States Steel, stocks and Sugar point.
Southern Pacific, Atchison, Northern Pacific and
pennsylvania also rose point over last night.
extraordinarily wide fluctuations in Anaconda
was a feature of the market. Prices were frac-
ticnally lower all around on realizing. Business
became quite dull after the furious buying of
went of to 25s and was ruling at 26s at 2
o'clock. Locomotive gained 2, Lead and Sloss-
Sheffield Steel ~, Great Northern preferred 8
! and Wells Fargo Express points. s'5
With the principal demand for the day salts
fed, money rates fell nominally to 9 per cent
last in the day and prices of stocks started
upwards again. Top prices of the day were
trail was carried up 3A Virginia Carolina Chem.
bical 5, Tennessee Coal A. the Corn Products
stocks 3h, Amalgamated Copper 3h, American
Beet Sugar and Sugar, United States Rubbe,
| and Reading 2, and the Republic Steel stocks
". The closing active and strong
Money ranged from ITO per cent to g. will
extraordinary business at 1875. Close weak ant
at low point, per cent? -
| additional sales: : Amalgamated, $4,000; Steel
common 113,OOO preferred 10000; 500. ], 400
SO, 100. ~ Z ~
| Stock quotations reported for The Journal by
Watson Co.,, brokers, Chamber of Commerce
Minneapolis. Closing prices are hid I'LL ~