The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-30
' ] !! LIS and !! / BEARS ] |
IN FIERCE | FIGHT
WALL STREET TRADING rs FURI.
GUS AS RESULT or CONTEST.
Shorts Are Driven to Cover and Prices
Rally Above Previous Close Pres
sure Is Renewed and Values Decline
Again Rally Follows, with the Mar
ket Steady, but Dull.

4 New York, Jan. 3O.Selling pressure was in
evidence ut the opening of sthe stock market to.
day in continuance Of the movement at the close
yesterday. Declines of q fraction were the rule,
but evidence Of support was shown in advances
In number Of stocks pennsy lvania, Louisville
8 Nashville, Union Pacific Erie and Colorado
Fuel were on large fractions and Ghesapeake y
Ohio and Texas & Pacific point. Canadian
Pacific rose | rs and New York Central and
Metropolitan Street Railway large fractions. The
dealings were very active and widely Distributed.
ss'ss
the supporting measures. The support became
effective after the opening and drove some OF
the shorts to cover and a vigorous rally to above
last nights level resulted The margin. OF gains
reached in Colorado Fuel, Sugar, Brooklyn Tran
sit, Northern Pacific and Chicago Great Wea-
tern preferred was y to ~ and IN Reading
gamated Copper, Lead and metropolitan Securl-s
ties 1. international Power rose f1a.s Pressure
was then renewed and carried prices lower than
before. Sloss- Sheffield Steel dropped IN, Great
Northern preferred and North Western IN.
Smelling " and Louisville & Nashville, Kansas
Texas, Ontario & Western, Denver & Rio
tss
Cotton OIL and some others point or more. The
market steadied again and became quieter.
When support became reflective the bears re-
sumed their covering and carried prices back
to the best Reading and New York Central rose
N, St. Paul w and Lead u. Buying for sup
vance in prices, and the trading be-
At some a POINTS Fedsral snng lost 5,
Reading first preferred. and Cotton Oil 2A, Hide
Leather preferred ~, Delaware & Hudson,
Chicago; st. Paul, Minneapolis 4 Omaha and Pa
! cifc Mail 2, General Electric X and Baltimore
q Ohio, Cleveland, Cincinnati, Chicago & st.
Louis and others /. The. tone was firm at noon
Bonds were irregular at noon.
Room traders had good trading market,
prices moving alternately up and down In the
neighborhood Of point. This range, however
vas largely confined to Reading, Pennsylvania
and some OF the more active specialties Penn
sylvania touched Its lowest prices after IL
O'Clock, but st. Paul and United States Steel
! Drought top figures. The market at Il O'clock
was generally steady but quite dull.
Drive Against Reading. 81
| "A succession of drives against Reading, which
beat it down points to 1873. exercised but 4
limited effect on the general market Amalga-
mated Copper, st. Paul and Union Pacific yielded
! set, but the changes otherwise were not pro-
| nounced. Rock Island and North. Western were
marked up point and Tennessee Coal 1N
! Atlantic Coast Line fell 2. $500 -
! Support Withdrawn. ,:. s..
| A break in Reading In the late stock marke
today had some unsettling+ effect in stocks and
caused prices to sell OF after repeated resistance
to depression during the early part Of the day
4 denee early In the day seemed be d1scont1n
ued. It was reported that large specula tive In
terests, after ralding the market yesterday. haf
covered short contracts this morning and renewed
an attack on the market In the later part q
/ the day. a{b u .sssz.sls - > -,
stoe5 quotations reported for The Journal BY
l minneapolis. &aCl0sing prices are bid.