Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-10-26
FINANCE AND TRADE
Deals in Low-C'assed Rail-
road Stocks Marked Opening
II. s. STEEL ALSO ACTIVE
STRONG BUYING FOLLOWED THE
INITIAL DEALINGS.
Union Pacific Advanced to a Fraction
Of Yesterdays Top Prices-Selling
Movement Covered the List.

NEW YORK. October 28-The feature of
the irregular opening stock market today
was the enormous supporting orders In
some of the Iow-class railroad stocks and
the heavy dealings in the United States
Steel stocks. Six thousand shares of United
States Steel preferred sold at S1A and
$751; compared with S1% last night. and the
common stock rose a quarter on the pur
chase Of 300 shares. Ontario and Western
on the sale of 1000 shares. sold at 4Gk
and Al. compared with 45A last night
Thirty-five hundred shares of Rock Island
sold at 81 and 329s. compared with 31h last
night. and Erie and Chicago Great Western
rose ~ on the sale of 1.500 shares each
Colorado Fuel was up 1% on the sale of
1900 shares and Union Pacific was up y on
the sale of 1900 shares. Peoples Gas
gained a point. Elsewhere there was ir-
regular changes OF small fraction.
Strong buying began in many quarters
following the initial dealings and the mar
cific advanced to within fraction of yes
terdays top price, touching Ill.,
All of the opening strong features ex-
tended their gains considerably and by
tablished of ~ in Colorado Fuel. 2h in
Ontario and Western. in Minneapolis, St.
Paul and Sault Ste. Marie preferred. IN
in Erie and Union Pacific and to ~ in
II, 81
Louisville and Nashville, Kansas and Texas
preferred, Delaware and Hudson. Amalga-
mated Copper. Tennessee Coal, Sugar. Con-
solidated Gas. Manhattan and Metropolitan
Street Railway.
Erie first and second preferred and Rock
Island preferred were under early pressure
In contrast to the strength of the common
stocks. but they later improved.
Pressed Steel Car and General Electric
fell a point but quickly recovered. After
1890 the market began to yield and Read
ing was forced below last night Union
Pacific. Southern Pacific Ontario and West
ern. Erie. Tennessee Coal. Sugar and other
active stocks reacted a point. and United
States Steel preferred fell to S9a4.
The selling movement reached through
the list pretty thoroughly and wiped out
the gains. Chesapeake and Ohio. Mexican
Central. National of Mexico preferred, Erie
second preferred and Nashville and Chatta-
nooga were forced / to IA under last night
before the force of the selling exhausted
Itself.
The market steadied when Missouri Pa
cific was lifted point over last night, but
broke again under renewed offerings on the
advance and went lower than before
Southern Pacific and Metropolitan Street
Railway fell points below last night, q. 8.
Steel preferred ". and ST. Paul Pennsyl-
vania Reading, Southern Railway, New
York Central and Tennessee Coal point
or more. Bonds were irregular at noon.
Covering by room shorts on the rise In
market a fraction. Fresh liquidation met
the advance and the market fell back in
some cases to a lower level than before,
notably in Union Pacific. st. Paul and
United States Steel preferred. Union Pacific
got as low at 100. Overnight losses of 1
and were scored by Norfolk and West
ern, Northwestern, the Colorado Southern
stocks, Erie second preferred. Brooklyn
Transit, Metropolitan Securities, Manhat-
tan and a number of minor stocks. The
market rallied strongly before l O'Clock,
with recoveries from the lowest running
from a point in Union Pacific. Southern
Pacific, st. Paul. Rock Island, Erie. Read
ing, Louisville and Nashville and Manhat-
tan. Tennessee Coal rallied to point over
last night. The market quieted at the rally.
The market showed hesitation for a time
and backed and filled and then advanced
with more confidence on large buying or
ders. Rock Island was lifted ols over last
night and some of the other leaders frac-
ton, while losses from last nights prices
were pretty fully restored.