The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-28
NORTH. WESTERN ! Il \
HIT in SLUMP
SIX POINTS TRIMMED OFF IN
EARLY TRADING.
Liquidation Set In After an Opening
of Some Promise, and Prices Were
Cut Rapidly-Later There Was a
Tendency Toward Strength in Fever
ish Rallies.

New York April 2S.-The stock market showed
evidence of support in the opening dealings ana
many good gains were mingled with losses The
interna tional stocks followed Lond0n's lead to
higher level Missouri Pacific, Louisville g.
Nashville und Baltimore g. Ohio rising about
point Consolidated Gas jumped LIZ and Lead
u.s.. On the side of losses there was drop u
8 points In North Western. a point in United
States Rubber preferred and OF large fractlons
in United States Steel preferred Pressed Steel
Car, General Electric and United States Rubber.
Liquidation was in full swing again ten mill
utes after the market opened, causing general
losses of point or more. Exceptional weak
ness cost North Western 6 points, Central Of
New Jersey Al, Colorado Fuel 4, Republic Steel
preferred 3A and Atlantic Coast Line, Pressed
Steel Car preferred and American Car 3. Little
resistance was shown to the steady pressure
against the market, and the sales OF al classes
of the high-grade stocks reached large total.
Precipitate breaks in leaders from time to time
upset confidence and there general throw
ing over of speculative holdings. By 1880 the
market showed a feverish rallying tendency.
Union Pacific recovered from 1914 to 1928, st.
Paul, Louisville & Nashville, Atlantic Coast Line,
Amalgamated Copper and United States Steel
preferred rebounded nearly as much. At the
low point Louisville & Nashville, Chesapeake &
Ohio, Southern Railway preferred, Locomotive,
Amalgamated Copper, Sloss- Sheffeld Steel, Cen
eral Electric, United States Steel preferred and
Tennessee Coal were off TX to 26. Northern Pa
cifc was effectively supported and rose 2h.
The definite arrest of the decline found plenty
of shorts uncovered and they bought freely, car
rying the recovery further and establishing gains
of 17s for Union Pacific, TX for st. Paul, 11s
for Southern Pacific and for Reading Cana.
dian Pacific, the Eries New York Central, Metro
politan Securities, Lead and Corn Products Con.
solidated Gas rose 3A, Northern Pacific 81 and
Smelling and the Chicago Terminal stocks "a
The market was quiet and slightly unsteady at
noon. ,s~4=-ss#--.s-. -..,.r. L..
+ Bonds moved in sympathy with stocks.
Realizing in the strong stocks and a renewal of
pressure against several leaders caused another
setback. st. Paul and Union Pacific also lost
their improvement and Louisville & Nashville,
Atlantic Coast Line and Tennessee Coal reacted
to near, the lowest. Effective support was soon
Forthcoming, but altho the market was lifted
again to the best, the trading became practically
stagnant on the rise. 81 ~ .-srs
Fluctuations were narrow and variable during
the afternoon Business comparatively
light and of about equal volume on both the
s2ia. 80 "
A break to 154A in Louisville & Nashville
unsettled the market and carried prices off a
point more. Atlantic Coast Line fell 81,
Nashville, Chattanooga & st. Louis 5, Loco
motive A. Lackawanna IA. Chicago Union Trac-
ton preferred PA and General Electric 31@.
Pittsburg, Cincinnati. Chicago & st. Louis rose
3h and Northern Pacific Az in all. Changes
from last night were mixed again by the re-
action Union Pacific reacted to below last
night. The closing was active and very weak.
Closing quotations reported for The Journal by
Watson & Co.. brokers. Chamber of Commerce
Minneapolis. Closing figures are bid. I