The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-17
SIAE1lRD STOCKS
OPENED LOWER
FAvoRITEs SAW AN
EARLY AND SHARP BREAK.
Drop Was Contrary to Rule Among In
dustrials and specialties, Which
Opened Higher-Large Selling Orders
Discourage for a Time Efforts to Put
Prices Up.

New York, March 17.--Some of the industrials
and specialties rose at the opening today but the
most Of the standard stocks We're lower, the
speculative fayorites breaking sharply. New
York Air Brake jumped 21a, Metropolitan Securi-
ties rose 1% Peoples Gas LIS and Locomotive
a sharp fraction. Anaconda fell 21a, Ca.adian
Pacific In, Union Pacific and Chesapeake q ONO
n, Baltimore q Ohio, St. Paul, Colorado Fuel
about point and New York Central, Ontario q
Western, the Missouri, Kansas g. Texas stocks
and United States Steel preferred large frac-
ton. H.-.-
The appearance of large selling orders, after
the market had rallied trife, discouraged eff
forts to put up prices. Selling was pretty gen
eral In character but the active industrials and
specialtles were the least affected. One hundred
shares Of Lackawanna sold at 375, compared with
1914. Wednesdays close. Brooklyn Union Gas
yielded points, North Western and Illinois Cen
trail y and Consolidated Gas, Delaware 4 Hud-
son. Erie first preferred and Lake Erie & Wes-
tern preferred to Y. Lead was bought conf
IDENTIFY and gained u and Com Products recov-
cred 1as after yesterdays. severe loss. Des
Moines & Fort Dodge improved 21a and Biscuit
1. Chesapeake & Ohio bought heavily on Its
Decline and the demand brought 1t back to
591a at II o'clock. Smelling was also being
taken freely and had risen ~. The buying OF
these stocks induced rally generally In the
list. -.~as-. ~ .,.,.... IT,. - -.s,. -.
The market fuctuated uncertainty without get
developed. Amalgamated Copper got above SO,
Corn Products preferred rose IN, Metropolitan
Securities 8, Metropolitan Street Railway, IT.
Louis Southwestern preferred, Hide & Leather
preferred and Bag III and Atlantic Coast Line
/. Consolidated Gas fell az and Chicago &
Alton preferred /. Bonds were steady at noon.
Professional operations converged on an as
sortment Of specialties Among them were sew.
eral that have been mentioned in connection with
rumored deals and others were subject to spe-
cial influences. Railroad stocks were ignored
but betrayed marked weakness. smelling
sold at 1884, Hide & Leather preferred was
marked up over points and there was rise Of
nearly as much In Corn products preferred. Al.
ditional gains were Knickerbocker Ice ~ ana
Rubber preferred, Federal Mining preferred,
Amalgamated Copper, Virginia Carolina Cnem1-
CAL Hide & Leather, Chicago Terminal and To-
ledo, st. Louis & Western to =. The last
named lost its advancebefore O'Clock. Realiz-
ing in Metropolitan Securities lowered 1t IN from
the highest.
Heavy selling Of the standard stocks In the lat
afternoon checked the advance in the specialties
and the entire list fell off sharply. The prlnc1-
pal railroad stocks sold under the low hgures
made in the forenoon and much of the days rise
in the speclalities was Cancelled. Pennsy isa-
nia Louisville & Nashville, Missouri Pacific,
New York Central, Reading, Southern Railway
and United States Steel preferred sold to IN
below last night, besides large number OF
stocks that had suffered similar losses. Union on
Pacific dropped LIZ and Realty IN. Corn
Products preferred reacted over points. ne"
York Air Brake improved g.. ,~-
/. Ontario & Western spurted to ah, but q
general unloading followed which caused a pre-
cipitate drop all along the line. Union Pa
cifc was forced 25s under last night, Canadian
Pacific and Hooking Valley preferred ~, New
York Central and Pittshurg, Cincinnati, Chicago
& St. Louis 2% and St. Paul, Chesapeake &
Ohio, Pennsylvania, Reading, Westinghouse Elec-
trio and United States Express or over. Losses
of 1 to 2 points almost universal. Unvert-
fled rumors of financial trouble in Paris were
put ahoat during the decline. The selling pres
sure relaxed materially in the late dealings,
but the moderate rallies were not well held.
The closing was active and weak.
ofoii
Watson & Co., brokers, Chamber Of Commerce
Minneapolis. Closing figures and bid ~