The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-04
PRICES HESITATE
AT The OPENING
INDUsTRIALs' TREND WAS UP
WARD. RAILRdA ADS DOWN.
Later the Market Moved Upward with
Some Uniformity Under Accumula-
lions Of Erie and Brooklyn Transit
Railroads Then Slip Back Steel in
Demand.

W.
today were quiet, and there was marked Oh
vergence In the movements of the industrlals
and specfalties and the railroads. The latter
showed declines with Pennsy lvania, the only I'm.
portant exception, showing recovery OF rs OF
its 3 per cent dividend, which deducted.
United States Steel preferred also was inclined
to sag in contrast with the course of other In
dustrials. International Power jumped ~,
and Tennessee Coal rose II. Union Pacific fell
"a and Delaware & Hudson point.
Speculation showed no pronounced trend Tor
while, and it was only after the steady accu-
mutation of Erie and Brooklyn Transit had lifted
them a point that the market began to move
uniformly upward. Considerable buying OF the
metal stocks followed the large demand for
United States Steel. blocks of 1000 TO 5000
shares changing hands up to 22%. Western
stocks retrieved their early losses, but the de-
mand abated at the higher levels. Tennessee
Coal, sloss-sheffeld Steel Consolidated Gas and
Colorado Fuel preferred rose u to 2A Metro
politan Street Railway and Northwestern fell off
to IN. rE
There were further gains in the industrial list,
including number of low-grade stocks: but
railroads did not make much progress and slipped
back below last night quite generally before
noon. United States Steel was in large demand
| at an advance of q point = Republic Steel pre-
ferred rose III, and Locomotive, Colorado Fuel,
Pressed Steel Car and Railway Steel Spring pre-
! ferred 1 to u. There were also gains OF l to
1 IS in Iowa preferred, Pacific Mail, Detroit Unit
ed Railway, Woolen preferred. Rubber Goods
preferred and Beet Sugar. Westinghouse Elec
| trio, Cotton OIL, Minneapolis, st. Paul & SAUL
Ste. Marie, and New York, Chicago & ST. Louis
lost /; Iowa Central preferred 49, and General
Electric PA.
| Bonds were irregular at noon. q
Missouri Pacific and Louisville & Nashville ad
vanced and LIZ respectively, but the market
was uninteresting and business smaller thar
| for weeks. Kansas & Texas, Chicago Grea
Western preferred A, Metropolitan Securitie
and Smelling preferred gave way to11a.
Railroads continue to occupy the secondary po
| sition in the market, the trading being practi
| cally given over to obscure stocks, which seldom
figure prominently in the dealings. Aside from
| the constantly increasing volume of tradilG II
| the United States Steel stocks, much of whicl
| was in blocks Of many thousands of shares, th
transactions elsewhere were in moderate amounts
United States Steel touched 23h and the pre-
ferred 829s. Railway Steel Spring got up owe
2 points and international Pump and Union Ba
and United Fruit to n
United States Steel rose 2 full points an
Amalgamated Copper and Sugar made belate
gains Of / u and III. Republic Steel rose 1a
in all, SlossSheffeld Steel 2h and Westinghouse
Electric 11a. There some realizing in cal
ler strong stocks. Colorado Fuel reacted an
Sugar point. Declines of 1 in Lead preferred
2 in Third Avenue and 61a in Allis- Chamer
preferred were scored. The United States Stee
stocks held firm, but the closing generally wa
easy. - Ill., - J.. -. -. ,.. ..
Stock quotations reported for The Journal b
Minneapolis. Closing figures are bid.