The Minneapolis journal., 1905-11-03
READING, PROVES A
Disturbing FACTOR
MARKET OPENS STRONG, BUT Is
UNSETTLED LATER.
Wide Fluctuations in Reading Cause
Misgivings- When Big Coaler Be
comes Quieter Other Stocks Develop
Strength, but Speculation Again Un-
settles Conditions.

New York, Nov. 8.-Prices mounted upward
vigorously In the opening dealings in the stock
market today with conspicuous movements in the
specialties which We're prominent yesterday.
South Shore & Atlantic preferred II 4s, Smelling
~, Erie point and Pressed Steel Car b.
There were only few scattered losses mixed
with the prevailing gains, American Car and
Great Northern preferred declining q.
Stocks made moderate progress upwards until
renewal of Yesterdays excited fluctuations in
1861. and concurrently the market began to
weaken. relapse In Reading to 1881 stinl-
ulated general buying again, but this ceased
Wnen Reading took an upward course again to
l5o9s. Inc conspicuous changes that occurred
at dinerent periods of the first hour We're:
Advance1Duluth, South Shore & Atlantic pre-
ferred ~, New York Air Brake 3, Railway
Steel Spring 2, Duluth South Shore & Atlantic
~, the local fractions Virginia Iron, Canadian
Pacific, Cotton Oil and Lead 1 to 1as. De-
cllnes-Locomotive II and Pittsburg Coal preferred
and Tennessee Coal IN. While the market
was on the down grade some leading stocks
SOLD below Yesterdays closing. These included
St. Paul. Union Pacific, Pennsylvania, New
York Central and Amalgamated Copper.
Mnen headlng became qnieter in the neigh,
Dorhood or 1885,, points Of strength devceoped
elsewhere, notably in Erie, which was lifted
IN. Canadian Pacific, Illinois Central and Met
ropolitan Street Railway gained 2. Virginia Iron
preferred 14, Erie first preferred 1A and Union
Pacific, ST.. Paul, Northern Pacific Rock Island
and Sugar 1. Duluth, South Shore & Atlantic
lost its gain and the preferred all but point.
International Paper lost Il and National Railroad
Of Mexico IN. The market was quiet and
slightly below the, best at noon. Bonds were
| strong. -' ...
Leading speculative interests gave Reading
another impetus upward until it touched 1875
Meanwhile the general list showed a renewal
| OF its early weakness and surrendered about all
| that it gained. Delaware & Hudson and Kansas
| & Texas preferred declined a point and Evans.
Vile & Terres Haute preferred 6.
| The action of the general market in the after
noon in Its relation to the Reading boom was
! the same as that of the morning, that is to say
' when Reading went up other stocks became weak
and when Reading was let off the market
strengthened. The result Of these varied move
| ments was that Reading eventually touched
| 1891, an overnight rise of rs. On the recov
cry tnthe general list Railway Steel Spring
moved up AZ, Canadian Pacific and Smelling
2h and Reading second preferred 1. Delaware
& Hudson fell 2E, Northwestern 2, Locomotive
and uRited States Realty ~ and New Have1
1. At 2 O'Clock Reading was at 1881 and thu
general market was displaying considerable firm
ness, number of stocks at the BEST
Closing stock quotations reported for Tn
| Journal by Watson & Co., Chamber Of Com
merce Minneapolis Closing figures bid