The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-08
BULLS FIND THAT
SHEDDING IS HARD
EFFORTS TO PUSH PRICES UP
ONLY PARTLY SUCCESSFUL.
United States Steel Is Heavily Alb
sorbed and the Preferred Touches a
New High Point Depression in Lon
don Market Is Felt on This Side.

New York, Jan. S.-The stock market opened
active and generally higher hut the gains were
for the most part moderate, and a few OF the
interna tonal stocks We're lower in sympathy with
the depression in London this morning. Ten
nessee Coal made an upward squirt Of S1a on
the first sales. Kansas & Texas, ST. Paul,
Northern Pacific and Cotton, Oil rose about a
point and Chesapeake & Ohio, Atchison, Woolen
Central Leather and United States Pipe large
fractions. Anaconda ran off 6 points. 3 Union
Pacific, Erie, New York Central, Amalgamated
Copper and American Smelling yielded small
fractions. s2 Ia
Prominent stocks did not get much higher
than the opening level before an active selling
movement began which drove ST. Paul, Reading
and United States Steel a frac ton below Sat
urday' closing and Union Pacific LIS. Tennessee
Coal reacted points. Meanwhile number Of
less prominent stocks were being advanced nota-
bly,. The selling stopped and the market rallied
when large buying orders were placed in Atch1-
son and Sugar, but prices failed to recover and
We're not held very well. The principal adj
vances Were Great Northern preferred and Texas
Land Trust 2, Sugar IA, Northwestern IA.
and Atchison, Kansas & Texas preferred, United
States Rubber, Pressed Steel Car American lice
way, Pacific Mail and the Republic Steel stocks
1. Anaconda recovered 5 points.
The market was uneven strength at some
points going hand in hand with realizing at
others. Low-priced stocks were largely bought.
and heavy absorption of the United States
Steel stocks lifted them fraction from early
declines, the preferred touching new record
at 1O5A. The demand for stocks which have
recently led the market was freely fed and
their prices held down. Minneapolis, St Paul
g. Sault Ste. Marie rose 3, Illinois Central and
Metropolitan Street Railway 2 Central Leather
Us and Chesapeake & Ohio, the Wisconsin Cen
trail stocks, Chicago Great Western preferred B,
Erie second preferred, National Railroad of
Mexico preferred, the International Paper stocks,
Colorado Fuel, Beet Sugar preferred and the
Twin City Rapid Transit 1@1 ". Northern Pa
c1fc and Corn Products preferred fell u and
New York Central, Locomotive and Virginia.
Carolina Chemical 1@1A. Union Pacific rose to
| last weeks high level at 1855 at noon.
Bonds were firm. i,
Some stocks had considerable difficulty in
making their way upwards, the constant realiz
| ing and occasional short-selling keeping them
pretty well within check. Bull demonstrations
in several favorite leaders helped to disguise
| al offset In large lines Of stocks that were put
| out elsewhere. New York Central and Reading
especially were restored to point over Satur
! day. United States Steel stocks continued to be
! heavily absorbed. ea8%'s r-3 $751;.
Eastern. trunk-line stocks made a decided,
! good showing. the movement in New York Cen
trail pulling up Pennsylvania and some of it.
controlled roads. This ended efforts to put W
special stocks for while, and the entire mar
ket ran of sharply when Union Pacific fel
:! to nearly point below last weeks closing. st
i Paul, Amalgamated Copper and some other lead
I ing stocks yielded to about the lowest price O
the day. ~
Stock quotations reported for The Journal b,
Watson 4 Co., brokers' Chamber of Commerce
Minneapolis. Closing prices are bid =,