The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-02
BEGIN zoo
With HIGH PRICES
MARKET OPENS WITH RAPID AID
VANCE AND BIG SALES.
Reaction Follows and Stocks thatsWere
Strong at the Opening Lose Their.
Gains-Anaconda Touches 298 at
Outset, but Runs Off Eight Points
Soon After.

New York, Jan. 2.--First prices of the year
at the Stock exchange We're higher than Satur-
days closing, and special stocks showed wide
advances at widely varying quotations run
ming sales of large amounts. One thousand
shares Of Anaconda sold at 296 and 297, with
sales following at 29S. compared with 2sS on
Saturday. There We're 5000 shares of LOcOmO-
tive at II and 10 compared with 1875 on Satur-
day, and the preferred was up 11a. First salesa
Of United States Steel were of 25,O 600 shares at
49, and 4sHs compared with 43B on Saturday.
preferred sold at 10Y and 1917 compared with
l06ss on Saturday. a purchase of $500 shares
Ill compared with l10ts on Saturday Mime
apolis, st. Paul & Sault Ste. Marie rose IN,
the preferred A. General Electric and Interna-
tional Power ~ Smelling Is, Reading IN,
Pennsylvania h and Canadian Pacific and Nor
folk q WesSern about a point. Metropolitan Sc
curities showed loss of Is and New York Cen
trail was down M. The changes in the general
list We're small as rule.
Heavy selling Which followed the opening rise
was most acutely felt in the stocks that had
been stronger at the start. The advance In
these las not alone wiped out, but some Of
them We're driven materially below last weeks
closing. The losses established were Third Ave
nue. g. Northwestern 2, Amalgamated Copper
M, New York Central IS and st. Paul, Union
ing about point. Anaconda reacted points
to $50, Minneapolis, st. Paul & Sault Ste. Marie
preferred and Locomotive 1N. There were a
few telated advances while the selling was
in progress but the market made enectual
resistance to pressure until Reading began to
rise buoyantly. After Reading pushed up
points, other active stocks recovered good
portion of their losses, and there were some
gains. Call money was loaned at 30 per cent
but the market only wavered trife when the
rate was announced. s.i~s ~ ~ ~
Reading reacted a point and the market
showed some hesitation, but with the yielding Of
the money rate to 80 per cent points of strength
developed. Reading rose again to 1925, Allan
TIC Coast Line rose g., Louisville & Nashville II
and Erie, Ontario & Western, New York, New
Haven & Hartford and People Gas l. Amongst
the specialties, United States Rubber second
preferred gained 2h, Rubber Goods g. Sloss Shelf
field Steel, Knickerbocker Ice, Allis- Chalmers
preferred and Virginia Carolina Chemical to
There were losses in st. Joseph & Grand
Island first preferred Of ~, Hooking Valley
2A, Great. Northern preferred and American
Feet Sugar ~, METROPOLITAN Street Railway and
sugar III and Erie second preferred Cleveland,
Cincinnati, Chicago & st. Louis Wisconsin Cen
trail, Northern Pacific, Chicago Terminal Pull
man and National Biscuit 1. Bonds were irreg
ular =. 49, - 49,
T Traces of heaviness occurred occasionally but
| the market generally was supported and the
! stocks In which sharp losses occurred were not
factors Most of the buying conferred in Read
ing, Which went up to, near 143. Central OF
New Jersey moved up az, Kansas City South
ern IN, the preferred and Wabash preferred
| St. Louis Southwestern preferred and United
States Rubber first preferred l. Tennessee Goa
fell of 2h, st. Louis Southwestern IA and To
ledo. st. Louis & Western l.. - a.
| Bull demonstrat tons were limited to specia
! stocks or groups, the, general movement Of
prices being uncertain. Some activity ant
| strength developed in the Pennsylvania group
| Atehison, Missouri Pacific and Peoples Gas
but their rise merely preceded a heavy sellin,
movement which cut into the day gains largely
Reading sold up 39s, American Ice, 8, Atchiso,
29s. Peoples Gas 2. Norfolk & Western i q
and Baltimore & Ohio, Chesapeake &; Ohio an,
| Missouri Pacific /. Lackawanna, after long neg
! lect, opened 10 points higher. Northern Pacific
Sugar and Corn Products preferred yielding 2 t
2h and Colorado & Southern second preferre
Vs.. Anaconda sold APPOINT under Saturday
closing. Il. ttsaf% 81 T., . -. :.
Stock quota tions reported for The journal b,
Watson d Co., brokers{ Chamber of Commerce
MINNEAPOLIS. Closing prices are bid -. -