The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-10-25
UNION PACIFIC IN
THE LIME LIGHT
THOUSANDS OF SHARES SOLD AT
AN ADVANCE.
Report that Oregon Short Line Bonds
Were to Be Retired Did the Business
Big Bunch of Short Line Bonds
Also Go-other Dealings on a Large
Scale.

New York. Oct. 25.-The stock market opened
animated and higher today, following the recov
cry of London. There We're enormous dealings in
the Union Pacific securities on account of the
report that the Oregon Short Line participating
bonds We're to be retired. Ten thousand shares
of Union Pacific sold at 1O9A and 40, COM
pared with 10SA last night, and subsequent
transactions were in 1000 to 3,00O-share blocks.
block of 325,OOO Of the Oregon Short Line
bonds sold at AN advance Of n and the Union
Pacific convertibles were up point on the trans
fer of 100, 900 blocks. Southern Pacific up
Y on the sale OF, 400 shares. Opening sales
Of Ontario & Western were of 5000 shares at
46h and 46A, compared with 45ls last night.
There were large blocks at large fractional ad
vances of United States Steel preferred, Peo
pies Gas, Amalgamated Sugar, Colorado Fuel,
Smelling, Pennsylvania, Atchison and ST. Paul.
Chicago Terminal preferred and Minneapolis, St.
Paul & Sault Ste. Marie were up point Four
thousand shares of Erie sold at 411s and 4O1s,
compared with Al last night, and the price then
ran off to 4O%. '.. e.
The excited buying of Union Pacific continued
in enormous volume with 1101s the top price. St.
Paul was run up 3aand gains reached point or
over In Atchison, Denver and Rio Grande pre-
ferred, Wabash preferred, st. Louis Southwes-
tern preferred and Colorado Fuel, 1% in Consoli-
dated Gas and IL in orthWestern Ontario
& Western fell back to. 45h and Reading and
Erie were heavy in sympathy. A break Of 3h
in Pressed Steel Car affected the other railroad
equipment stocks by sympathy and the local trac-
tions. Sugar, Lead Illinois Central and West
| cago Great Western preferred broke 2. A rise
of in Delaware & Hudson steadied the coalers
at II O'clock ">"
| followed by sharp advances in other high-grade
| stocks. Northwestern rose IN on buying in
! 1000-share blocks and the preferred 5. Lacka
wanna touched its record price at 300 st
| Paul rose 31a in all. United States Steel pre-
ferred strongly u, the local fractions raj
lied strongly, Metropolitan Street Railway gain
Ing Us, and there were gains of point OF
more in Chicago Great Western Illinois Central
Texas & Pacific, Sugar, Tennessee Coal and
Sloss- Sheffield Steel. The market ran off afte,
the announcement of an engagement Of gold fol
export. Erie, Central of New Jersey, Locomotive
and Rubber Goods preferred got 1 to u under
last night, Westinghouse Electric and St
Paul, Delaware & Hudson and Smelling reacted
a point or more. number Of active stocks
were carried below last night. including Rock
| Island, Mexican Central, National of Mexico pre-
ferred, Southern Railway, the Kansas & Texas
stocks, Chesapeake & Ohio, Norfolk & Western
the Colorado & Southern stocks and number OF
minor induspals. Colorado Fuel shot up 33s
but the market continued irregular at noon
Bonds were irregular.
! New stocks took part in the advance after ]:
o'clock, but the diversion of interest into these
did not retard further rise in some Of the early
favorites, notably Union Pacific and United
States Steel. New York Central reached 1861!
and Peoples Gas rose 1 u in short order. United
States Steel met a good many thousand shares
when it touched o.. but it eventually took al
at that price and sold a fraction higher. Tht
preferred reached S3h Transactions in Unio1
Pacific continued on an enormous scale and the
| buying of it up to 11OA was attended by higher
prices for the other Pacific, St. Paul, Erie ant
Reading made momentary spurts upward bu
| fell back again, the two last named touching
| their lowest prices.
| Union Pacific went to 112 before it fell back
and carried Southern Pacific up IA. Penn
sylvania's gain reached l.. When Union Pa
cifc fell back IL the whole market followed
| the reaction running from 1 to " for Northern
Pacific, Atchison, New York Central, United
States Steel preferred Sugar, Tennessee Coal ant
| Colorado Fuel. The Lead stocks dropped 2, ant
| General Electric, Smelling preferred Toledo
| St. Louis & Western preferred and National o.
Mexico preferred l. to ~. st. Paul got LIZ
| below the highest. a.