The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-11
.BEARISH TENDENCY
IN STOCK MARKET
Good Show Of Strength in Wheat 7odayBI
PRICES ARE UP AT OPENING, BUT
DON'T HOLD WELL.
Is Noted Turnout the
Morning Except in spots-Minor
Stocks In Brisk Demand-Un Pa
cific at a New High Point Great
Northern Makes Good Gain.

New York, Jan. n.--Active dealings In the
stock market at the opening today carried prices
higher. with few exceptions. Changes gener-
ally were small, but a number of stocks not Of
frst9 importance made violent advances. Amazon
da jumped points, with reaction of 4. Min
neapolis, st. Paul & Sault Ste. Marie rose IN,
the preferred 3A, Kansas & Texas preferred
IN, Denver & Rio Grande lis, Atchison, Duluth,
South Shore Atlantic preferred and Tennessee
Coal point and Ontario & Western Brooklyn
Transit and Amalgamated Copper large frac-
lions Sugar showed decline Of n.
PRESSURE developed against the active stocks
soon after the opening, and Amalgamated Copper,
the United States Steel stocks, st. Paul Union
Pacific and Reading fell of to small fraction
below yesterday. IS While the selling was effect
ual In this quarter. pool operators had a free
hand at other points especially in number of
the ,h1gh-priced and minor stocks. The sanguine
buying OF these stocks eventually overcame the
heaviness elsewhere, and by II o'clock prices
at various points were rising briskly. Union
Pacific sold at 1859. n rise Of 1ss. The chief
gains In the. first hour were Great Northern
preferred on, Federal Mining 4, Texas Land
trust 31a, Denver & Rio Grande 2hs, the pre-
ferred "a, Northern Pacific ~, North Western
2, the Republic Steel stocks Il and Colorado &
Southern. Duluth. SOUTH Shore & Atlantic and
Brooklyn Transit 1.
Prices sagged again and made little response
to the wide advances In minor specialties. A
better effect was produced when Union Pacific
moved up over 2 points to 1861, crossing it's
previous record price. The Pacific coast stocks
HioVeu 70 a common price at 11lU, showing adj
vances of 41a@7, the Wheeling & Lake Erie
| stocks S1@1M, American Wooden 2as, Colorado
Southern Duluth, South Shore g. Atlantic pre-
ferred, North American and New York Dock 2
United States Rubber TX and st. Paul, New
York Central, Southern Pacific, st. Louis South.
western preferred, Cotton Oil and Colorado &
Southern second preferred about point. Man
haitian fell 1 and Westinghouse Electric 2.
Bonds were firm at noon
Interest was most marked in low.priced stocks
that are not commonly dealt in. The revived
demand for these and the sustained inquiry fol
| some of the best grade Of railroad stocks re.
| suited in overcoming part of the sluggishness
that had existed in the forenoon. Great North.
ern. preferred extended its advance to S1a, and
Delaware & Hudson showed gain of Az
| preferred 2A, Ontario & Western and Mailing
| preferred 19k and Canadian Pacific and Central
! Railroad Of New Jersey L. Sugar was decidedly
| heavy and lost ~, and prices lower al
| around again at the end of the hour.
Close: Wheat, May, 923sc; July, S9kc. Corn
January, 53Ac May. 51Bc; July, 51Nc.
The diversion of interest to the inactive spe
| cialties was reflected from time to time by til,
/ increased business and substantial gains in
number of these stocks but the general list wa
inclined to drag. North American and Ten
nessee Coal got up 5 points, Colorado & Southern
31a, Knickerbockerr Ice 2A, Minneapolis & st
| Louis ia, Iowa Central / y and the preferred
Colorado s. Southern first preferred, Colorad
i Fuel American Car, Locomotive and Westing
house Electric 1. Consolidated Gas lost 1, In
| ternational Pump preferred III and Wisconsin
| Central preferred 2.
i Stock quotations reported for The Journal b.
/ Watson & Co., brokers, Chamber of Commerce
Minneapolis. Closing prices are bid.