The Minneapolis journal., 1904-10-19
Erie GOBBLED UP
IN !. GREAT BITES
SEVERAL LARGE BLOCKS TAKEN
AT AN ADVANCE.
st. Paul One of the Opening Gamers
Also-Reaction Later Followed by
Rally-Reaction Followed the Open
ing Advance Snuff Became Buoyant
and Leaped Ten Points.

New York, Oct 19.-Stocks were well taken
today at the outset and showed gains thruout
with the exception Of d few southwesterns and
New York Central Erie was the feature, two
blocks OF 1900 shares each, one OF I,OOO, one
of 5000 and one of 1,S00 appearing In the open
ing transactions at an extra advance OF u. ST.
Paul gained Is, Norfolk & Western and Amalga-
mated Copper y and Erie second preferred M
A block of 1.SOO shares of Erie first preferred
was taken at an advance of 1A One thou
sand shares OF Mexican Central sold at l! and
1IA, compared with 1871 last night United
States Steel preferred opened up X on the
sale of 1000 shares, and the common unchanged
on the sale Of 5000 shares, and both stocks sub
sequently ran off fraction below last night.
Consolidated Gas and Westinghouse Electric rose
IN each, and United States Leather advanced
9s on the sale of 5000 shares. 8
The usual reaction followed the opening ad-
vance. Thereafter the market backed and filled
on a generally narrow range, with the tendency
of the leading stocks downward. United States
Steel preferred sold of to 80 and PENNSYLVANIA,
Reading, Union Pacific, Missouri Pacific and
Sugar sold below yesterdays closing at inter
walls. Enormous quantities of Erie changed
hands about S6 within a range Of Y. Mean
while minor stocks were developing strength,
Colorado Fuel, Railway Steel Spring preferred,
Brooklyn Union Gas. Erie second preferred and
Iowa Central preferred gaining to ~: Amer
lean Snuff jumped 10 points. Nashville, Chat
tanooga st. Louis declined and International
Power IN. Support began in st. Paul after it
had fallen below III. and there was rally to
the lowest but the movement in neither Of these
stocks exerted much effect on the general list.
Speculation was Quieter and about steady at IL
o'clock. .--.,. -s
st. Paul became very buoyant and rose to
1881. Erie broke thru the opposition at Sc and
rose 1h, and Reading extended Its gain to 1as.
Long strings Of 1,O00-share blocks and upward
Of Southern Railway and Of Atchison lcarried
them UP and / Is, and Leather made Its gain
OF. point. Louisville \ Nashville sold at
1874 for one lot and then relapsed l ". These
were the features of the market. There were
gains Of to in Illinois Central, Atlantic Coast
Lead, Pacific Mail and Leather preferred.
Westinghouse Electric rose 2h and the first
preferred 3. The rise In the general list was
moderate under pressure Of proft-taking in the
reaction. United States Steel preferred fell
back to s1B, st. Paul receded point and
Amalgamated Copper, Brooklyn Transit Wabash
Kansas & Texas preferred, Tennessee Coal and
locomotive I've sold below last night Chicago
| were strong at noon in broad and active mar
| ket except for a few speculative issues. United
States Steel and United States Steel 5's declined
declined,and Central of Georgia incomes broke
| sharply.
| Several other stocks Of first Importance wer.
forced well below yesterdays closing before tht
market rallied. including Northwestern, New
York Central and Republic Steel preferred
| which, lost from y to per cent. Enormous
purchases of Reading and St. Paulawere resumed
and they bounded to the highest, Reading bein,
| 767s The list responded in spots, but th
market yielded again at o'clock, United State
| Steel preferred falling back to S1%.
The market became decidedly reactionary ant
ran off sharply to below last night except TO
a few leaders. st. Paul reacted IN and Read
ing and Atchison point. United States Stee
got u under last night and the preferred 11a
Losses reached a point or over in Union Pacific
Missouri Pacific, Wabash preferred, Hockin
| Valley, Tennessee Coal Sugar and Pressed Stee
Car. New Haven rose Tx and Pere Marquett
preferred ~. After feeble rally the declin
| was renewed. ~ '@
With rush to save profits, stocks poured upo
the market from all quarters and the bears adde
extensive short selling Prices ran swift
| downward and established losses of to 2 pc
cent and wiped out thesg gains IN the earl
strong leaders. Union Pacific, Missouri Pacific
st. Louis & Southwestern preferred, st. Loui
& San Francisco second preferred, United State
Steel preferred, Sugar and the Pressed Stee
stocks lost .1% to 21s. Room shorts hastene
to cover and caused a rally which ran to LIZ i
| Union Pacific. Renewed selling met the rail-
and the closing was active and irregular
Stock quotations reported for The Journal /
| Watson & Co., brokers' Chamber of Commerc
Minneapolis. Closing figures bid