The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-07-27
HEAVY DEMAND
FOR U. 5. STEEL
Wheat Makes Small Cain and Then Loses ItHl
BIG STOCK CHANGES HANDS IN
ENORMOUS BLOCKS.
Opening Dealings on the Market Were
Animated-Prices Vigorously Sup
ported When They Show Tendency to
Sag Profttaking Causes Decline,
but Rally Follows.

New York, July 27.-The opening dealings IN
the stock market today were very animated,
with heavy transactions IL some OF the specu-
lat1ve favorates. Changes were irregular within
q generally narrow range. Thirty thousand
shares Of United states Steel changed hands sim
ultaneously at 3Sh and 1856, compared with
SSh at the closing last night. Great Northern
preferred advanced point and Baltimore & Ohio
and Chesapeake & Ohio large fractions South
ern Pacific fell u and there was small frac-
tional declines In st. Paul, Union Pacific, Read
Ing, Atchison and Erie, and under profit taking
sales Interborough Metropolitan preferred sold at
advance Of IN.
transactions were on a large scale during
the first hour. and heavy buying orders sup
ported prices when they showed tendency
to recede, and carried them upward. Stocks
continued to be freely supported, however, and
the fluctuations were thus confined. Dealings
In United StateA Steel were on enormous
scale at an extreme advance of ", and the
gained III, Colorado Fuel * and there We're
advances Of about a point in Baltimore g. Ohio
Chicago Great Western, st. Louis Southwestern
preferred. Wheeling 4 Lake Erie second pre-:
Car stocks, Republic Steel, sloss- Sheffield Steel
and Virginia Carolina Chemical. Duluth, South
shore Atlantic rose Is. The transcontinental
railroads and PENNSYLVANIA were held back by
steady realtztng, and Southern Pacific receded
nearly point by II o'clock.
selling to realize carried Southern Pacific II
ana st. Paul below yesterday In the second
nouE. 1nAs aHected speculative sentiment in
spite OF advances elsewhere Missouri Pacific
rose III. Atlantic Coast Line and Brooklyn
transit !. The United States Steel stocks held
quite firmly. The common crossed 30 before
noon, when prices were moving upward again
generally. Union Pacific gained point. Bonds
were firm at noon. .-.,.#s. II
The demonstration in American Smelling car
ried 1t up over points and Lead also rose 29s
Reading. Pennsylvania, United States Steel,
Amalgamated Copper and United States Pipe
gained l and Kansas City Southern preferred
IN. The general market hardened again in
sympathy with these later movements
Points of strength continued to develop In the
market keentng the undertone firm. Amalga
mated Copper advanced points to above par
ana en me Kep9blic Steel stocks and St. Paul pre-
Kansas City receipts 3S2, 900 bushels, against
SS3, 600; st. Louis, $4,000, against 49,, 900
Clearances, 100000 bushels. Primary receipts
1,2l9,OGO bushels against ,239, COO .a =
The Modern Miller says soft wheat FARMERS
! are selling their grain slowly. A large pro
portion Is being stored or stacked. Deliveries
! are large OF hard winter wheat. The principa
purchases are by millers and by the large ele
vator systems OF the country to hold in store
The threshings Of the Michigan crop general,
show better yield than was expected earle
| in the season. E e - - ~: , - - % s~ 2
Bradstreet's report Of wheat exports for tn
week, flour included shows L, 7OS, 7O5 bushel
against SO4 146 last year. Corn for the week
539,O73 against 773, 021 last year; from July i
! Wheat, 6,942,2ss bushels against 1923, 423 las
year. Corn. 2662573 against 3,734,OSS.
stock quotations reported for The Journal b,
| Watson & Co., Chamber of Commerce., Mime
apolis. Closing figures are bid.