The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-23
RISE FOLLOWED
BY EASY DECLINE
SUSPENSION OF TRUST GO. LIFTS
EARLY MARKET.
Northern Pacific and Great Northern
Preferred Among the Stocks to Bene-
fit by EARLY Strength in General Mar
ket-Market Later Became Dull and
Prices Reacted to Lower Levels.

New York, May 23-American securities were
in demand In London again today and opening
prices of some of the internationals In the
stock market here were higher in sympathy.
Others were subject to pressure, and the re-
suit was q very irregular opening. Illinois
Central rose ~, st. Paul, Pacific Mail and
Peoples Gas point, while United States Rub
Der showed loss of point and Car, Pressed
Steel Car and Cotton Oil large fraction. Union
Pacific and the steel stocks We're fraction
lower.
Relief over the nature of the bad news sup
posed to account for yesterdays weakness, dis
closed by the suspension of the Merchants trust
company, seemed to be the explanation OF the
sharp rise in stocks. All of yesterdays consplc-
uously weak features participated to a more or
less extent in the advance in the first hour
Northern Pacific, Great Northern preferred, Sugar,
Smelling and Car preferred improved 2 to 2M :.
Amalgamated Copper. Smelling preferred and
several others to ~. Profit taking sales oblit-
Grated great part of the advance later.
The selling in such light volume to
encourage renewed buying which lifted prices to
higher point than before. Illinois Central rose
2, Tennessee Coal On, st. Paul and Delaware
& Hudson 2h Northern Pacific 81, Wisconsin
Central preferred 4h Smelling 3ss, while there
was an extended list of 1 to 11a-point gains
Some Of the usually inactive stocks made notable
Declines, among them Central Railroad of New
Jersey, Pittsburg, Cincinnati, Chicago & st.
Louis, Rutland preferred. Linseed, United States
Reduction, New York Dock, the Pipe stocks and
American Telephone. Bonds were irregular at
noon. f.as. H..
The upward movement did not eliminate until
the general Level had been lifted above the T.
O'Clock range and gains Of IL to 2 indicated
In Union Pacific, New York Central, United
States Steel preferred and Peoples Gas. Aftel
n while the professional realizing became ample
enough to check the advance and the market
fell on slowly and became dull. st. Paul, Union
Pacific and Northwestern reacted a point OF
more.
Prices ran off under a moderate volume oil
offerings and without support appearing. Whel
| number of the reactions had been forced, run
ming from 1 to 2h, the speculation became
quiet ard did not increase in activity whe1
the market began to mend. Losses from thu
highest reached 2@ in Smelling, 2B in Uniol
hnal, tx in st. Paul and to to "a in New
York Central. Reading, Amalgamated Copper
United States Steel preferred and other leaders
The market fell into torpid state wher
the. selling desisted and made no effective re
coVery. Later the downward was re
newed Some of the leaders got under last
night and little was left of the days gains
Sloss Sheffield Steel preferred sold at q de-
cline of IL. United States Steel sold down t,
70 and Brooklyn Transit fell 2, Canadian Pacific
u and Metropolitan Street Railway and Loco
motive preferred / below last night, Chicago
Alton preferred lost 21a. The closing wa:
easy. $-.-=. -.
Closing quotations reported for The Journal b,
WATSON q Co., Chamber of Commerce, Mime
apolls CLOSING figures bid.