The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-11-14
HIGH MONEY FAILS
=. 10 HOLD PRICES
31 fs1f4ts-
Strength in Wheat and It Closes HigherlHI
STOCKS ADVANCE DESPITE HIGH
Err TREND OF RATES.
Opening Is up and Tho Prices
Yield Later, They Soon Resume Their
Upward Movement in an Active Mar
ket-Buying Broad and of a Good
Character.

\ i tel y t. > - 80 ~ ,
New York, Nov. 1.-THE. course Of prices was
upwards in the opening dealings In the stock
market today heged by the advances in Lon
Smelling was carried by Vs. Cotton OIL and
Canadian Pacific Baltimore & Ohio, Chesapeake
& Ohio, Metropolitan Street Railway and Rail
way Steel Spring large fractions. The trading
was moderately active.
The market yielded after the first few min
utes and sold below yesterdays closing. "A
2-pOfnt decline in Reading facilitated the fall
IN the general market Msgiyings as to the
condition of the money market and an open
ing rate Of 16 per cent. followed by an advance
to 10 cent for call lonns were the factors
bearing on prices Tennessee Coal. United
States Rubber first preferred and New YORK
Central gave way 1 point and Reading second
preferred III Railway Steel Spring and the
Kansas & Texas stocks rose to l "a points,
Great Northern preferred and Havana Flee
gained its loss, the general trend also became
upward, but was of little consequence In most
stocks. ~.
Money call went to 20 per cent, but
was active. Kansas & Texas stocks rose ?
points, Northwestern IN, Railway Steel
Spring ~. and Atchson, Louisville NASH
vile. the Allis- Chalmers stocks, Sloss Sheffield
preferred fell l point American Beet Sugar
IN. Havana Electric preferred 8 and West.
.nghouse Electric FIRST preferred 5. Bonds were
/
coveries in: sympathy with stocks. - ... g.,
The upward movement encountered no seri-
GUS opposition, the apparent Indifference to
the higher money rates and the activity Of the
pools sending prices still higher. Buying was
of very broad character and had good ap.
pearance owing to the welknown standard
stocks that were absorbed. There were ad
vances of point or more among the Pacifics,
trunk lines iron and steel industrials ant
Amalgamated Copper, and ~ in Railway Steel
Spring and Allis Chalmers, and 81 in Allis
Chalmers preferred. s-s-..-.-i r 4.
! r.. Call Money Drops.
After the most urgent requirements for call
! money bad been satisfied the rate dropped tc
S per cent and stocks made further sub.
stantial~ advance. Gains Of point or ovel
We're we'll scattered thruout the list and in
Guided great many Of the favorites Many
, earlier lsggards came into the advance. Penn
sylvania was sluggish and the United States
Steel stock improved less proportionately thar
kindred stocks. Hooking Valley reached 1o1
rise of Az points. -
There enough room proft-taking to cause
some slight price recessions and offerings dimfn
ished at the lower prices and trading became
dull, The rise carried Reading, Canadian Pa
cifc. Metropolitan Street Railway, Brooklyn
! Wabash preferred 2M. Toledo, St. Louis s
Western lost / y and the preferred 2. The
whole list rose vigorously again in the late deal
! ings and the close was active and strong. -: ..
j New York Stock Exchange quotations reportc
for The Journal by Watson & Co.. Chamber o
Commerce, Minneapolis. Closing quotations ar
i bid prices. \ ~. !''s.. H.. -, e. -.