Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-02-23
FINANCE AND TRADE
Opening Trading Today Was
Violently Excited.
SOUTHERN IRON GROUP
THERE WERE SOME GAINS FOR
SOUTHERN RAILROADS.
Union Pacific Sustained Prices-Bulge
in Steel-Rise Halted Before
Noon-Bonds Firm.
SOUTHERN IRON GROUP

NEW YORK, February 23.-Opening trad
ing in stocks today of the southern iron
group was violently excited at wide add
vances. There were simultaneous sales OF
1900 shares of Tennessee Coal at IS and
81, compared with S6% Tuesday. 10000
shares OF Republic Steel at 211s and %.
compared with 201a on Tuesday, and an
opening jump of 6la in Sloss-Shef1ield Steel.
Sloss- Sheffield Steel preferred rose 2&,.
There was a jump of 21a in Federal Min
ing. Gains ran from a large fraction to a
point in a number of the southwestern rail-
roads. Erie, Reading and the metal stocks.
Heavy blocks of United States Steel and
Union Pacific changed hands, but their
gain was limited to a fraction.
The demand was fed freely on the sus-
tanning effect of the movement in Union
Pacific, the iron and steel stocks and spe-
cialties, and during the first hour many
stocks fell back to fractional net declines.
Union Pacific recovered its per cent div-
dend before it fell back a roint. The bulge
in Sloss-Sheifield Steel reached S1s with Il
reaction of l, the preferred jumped >, Ten
neCsee Coal 6k. with a reaction of 2Ia. Re
public Steel 81 and reacted 15s, and the
preferred rising !, fell back 2h.
International Power opened l4i2 points up
and then advanced points further. Other
gains We're Dtla ware ana hudson, Mime
apolis. st. Paul and Sault Ste. Marie and
Colorado Fuel, = to 212; Consolidated Gas,
IA; Pullman and Virginia Iron, ll2, and
Texas and Pacific and Manhattan J. on the
reaction Amalgamated Copper and Lead
sold below Tuesday, and United States
Rubber preferred Ia
Louisville and Nashville was bought on
account of the movement in southern iron
and steel companies and rose >. Illinois
Central gained lA in sympathy, Southern
railway a large traction, and Peoria and
Eastern .. Tennessee Coal rebounded to -
Smelling advanced > g. Locomotive preferred
IL, and a few minor stocks point, but the
general price level did not recover to the
best.
Central Railroad of New Jersey. Kansas
City Southern preferred. Cotton Oil pre-
ferred and Biscuit ], and Wrestling house
Electric first preferred >. The rise in prices
halted before noon. Bonds were firm at
noon.
Increasing heaviness developed in some
sections of the railroad list The Pennsyl
vania group and Erie sold a fraction under
Tuesdays closing, in addition to earlier de-
cllnes Kansas and Texas preferred lost
IA. Wide and frequent fluctuations oc-
CURED in the southern iron group, with their
tendency upward. Tennessee Coal touched
aoA, Sloss-Shetiield Steel 10 and preferred
III. Heavy takings of st. Paul forced it to
lI?1a and led to a pretty general rally in all
quarters of the market.
Southwestern railroad stocks came into
favor next. led by Missouri Pacific and
Wabash, which advanced l and IL, re-
spectiveiy, The grangers and Union Pa
cific maintained their high prices and there
were material additions to the advance in
the southern iron stocks. Tennessee Coal
brought 97A, rise of 11&s, and the Sloss-
Sheffield steel stocks scored gains of 16
points each.
Republic steel preferred rose feverishiy
~ and reacted 31s Denver and Rio
Grande preferred and Atlantic Coast Line
moved up l. Cleveland c. c. and ST.
Louis preferred dropped 6. Lead preferred.
212; Z. S. Rubber, "a, and Colorado and
Southern first preferred and Iowa Central
preferred / each.