The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-05
Low MONEY RATE
INSPIRES TRADING
FURRY OVER sCHIrF INTERVIEW
DOES NOT LAST.
Prices Advance Under Heavy Trading,
Decline in Interest Rates Leading to
Bidding Up Tactics - Copper
Stocks a Feature Union Pacific in
Great Demand.

New York. Jan. 5.-The opening dealings IN
stocks showed no traces of the furry caused In
yesterdays closing market by the remarks on
the money market by J. H. Schin Changes
were generally small and number of the gains
were vigorous and aggressive. OF Union Pa
ctfc 10000 shares sold at 1484a and 14SB, COM
pared with 148A last night, and the price then
advanced to 149h The first sale of Amalgamat-
ed COPPER was Of 200 shares at 1851, followed
by $500 shares at JOG to 1864, compared with
the closing price last night Of 1o4& Reading
tive TX, Smelling ~ and Louisville & Nash
vile, Colorado Fuel and Sugar large fractions.
Anaconda, selling ex-dividend, fell 3!a, but i'm
diately rallied Is points. Virginia Carolina Chem
ical lost Ia, Tennessee Coal point and Mis-
souri, Pacific and Delaware & Hudson large frac-
lions.
With call money bringing. 9 per cent for
prices vigorously and the buying became very
heavy. Railroad stocks were well represented
In the early rise, the heavy absorption Of Union
Pacific and Reading causing better demand
for other representative railroad stocks. Anal
gamated Copper and Smelling rose 2h, Union
Pacific and New York Central, Kansas City
Southern preferred, Sugar and Colorado Fuel
'1A@1A. st. Louis Southwestern preferred fell
off 2M and Northern Pacific, Iowa Central pre-
ferred, Colorado s. Southern first preferred and
Minneapolis. st. Paul & sault Ste. Marie 1.
The upward movement gathered force and
volume with the further relaxation Of money,
and the strength Of the market became more
general. The rise In Amalgamated Copper and
Kansas City Southern preferred reached g. Read
ing 2%, Union Pacific az, Canadian Pacific,
Western Maryland, National Lead and United
States Pipe and St. Paul, Atchison, Texas &
Pacific, Rock Island preferred, Louisville &
Nashville, Atlantic Coast Line, the Denver &
Rio Grande stocks, Metropolitan Street Railway,
United States Rubber, Cotton Oil and some
others 1885 d stsg#4lF esg.s rs
Bonds were heavy at noon. al se, .. b. X
| Call money loaned at Z per cent before noon,
and loans at 6 per cent were reported.
A good deal of stock marketed around
midday, but this only caused momentary halt
and there further material advance in
many of the specialties. The various metal
! stocks were bought heavily, especially the COP
pers Amalgamated sold up n and Anaconda
! which opened at 230, improved to 26O Sugar
gained 3A, Beet Sugar ~, Sloss- Sheffield Steel
! and General Electric ", and the Kansas &
Texas stocks, Republic Steel and Peoples Gas
|1@1A. 49,
Moderate profit taking had very little effect OF
the market, the movement tending more to re-
| duce business than to affect prices. ~..
Call Money, Per Cent.
| Call money loaned at per cent this after
noon the lowest rate it has reached lin severa
weeks.
| Stock quotations reported for The Journal by
Watson & Co., brokers, Chamber Of Commerce
Minneapolis Closing prices are bid. -- .