The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-23
SOUTHERN iron IS
GREATLY EXCITED.
GROUP MOVES UP RAPIDLY UN-
DER HEAVY BUYING.
Southwestern Railroads Show Early
Gains-U United States Steel and Union
Pacific Are Traded Largely-Re-
action After First Hour Is Limited
and Advances Are Continued.

New York Feb. 2s-Opening trading in stocks
today Of the southern iron group was violently
excited at wide advances. There were stimuli
taneous sales of $4,000 shares of Tennessee Coal
at IS and Oh compared with S6as on Tuesday,
10000 shares of Republic Steel at 21A and %
compared with 2Oh on Tuesday, and an opening
jump of 81 in sloss-sheffield Steel. sloss
Sheffield Steel preferred rose ~. There was
jump of. 21a in Federal Mining. Gains ran from
large fraction to point in number OF
the southwestern railroads, Erie Reading and
the metal stocks. Heavy blocks Of United states
Steel and Union Pacific changed hands, but
their gain was limited to fraction.
The demand was fed freely on the sustaining
effect of the movement In Union racine the
iron AID steel stocks and specialties, and during
the first hour many stocks fell back to fractlonal
net declines. Union Pacific recovered It's
per cent dividend before it fell back point:
The bulge in sloss- Sheffield stocks reached ~
with reaction of 1, the preferred jumped O.
Tennessee Coal 81 with a recation OF '21a,
Republic Steel 81 and reacted ~, and the
preferred rising /, fell back 21a. International
Power opened 141h points up and then advanced
2 points further Other gains We're Delaware
& Hudson Minneapolis, st. Paul & sault Ste:
Marie and Colorado Fuel to 2h, Consolidated
Gas ~ Pullman and Virginia Iron "a and
Texas s. Pacific and Manhattan 1. On the re-
action Amalgamated Copper and Lead sold /
below Tuesday and United States RUBBER pre-
Louisville Nashville was bought on account
Of the movement in southern iron and steer
companies and rose ?. Illinois Central sa anea
fraction and Peoria & Eastern 2. Tennessee
Coal rebounded to "a, Smelling advanced ~,
Locomotive preferred n and few minor stocks
a point, but the general price level ola not
recover to the best. Laclede Gas preferred
reacted Az. Central Railroad Of New Jersey
Kansas City Southern preferred, Cotton vi pre-
ferred and Biscuit l, and Westinghouse Electric
first preferred 2. The rise in prices halted be-
Bonds were firm at noon. ... -.
Increasing heaviness developed IN some sections
the Foad list nhep eospg
| addition to earlier declines. Kansas & Texas
ss q II the woe ssae ea sD 'ff
touched toa s5N. sloss.shenield Steel 10 and the
in all auarters Of the market.
next, led by Missouri Pacific and Wabash, which
and Union Pacihcs maintained their hieh a., price s
| and there were material additions to the ad
! vance. in the southern iron stocks. TENNESSEE
Coal brought 97a4, rise Of In and the sloss
Sheffield Steel stocks scored gains OF 10 points
Republic Steel preferred rose feyerishlyy ~
S s RG sn IN
s, Lead preferred ~, United States Rubber "a
general selling mo ee swePf ho ane no,
Pacific slumped to ,12sA and so9taern Pae d If,
fell 2 below Tuesday; Kansas CITY Sout nsa3
gamated Copper, ia, and many railroad stock
a point or more. Such gains as had been mad
in the railroad list were wiped out. Tennessee
Coal reacted 8; Sloss-Sheffeld Steel A. the pre-
felred, Az Republic Steel preferred. Y, s am
Colorado Fuel, q. There were, some feverlsl
rallies.A The closing was feverish and irreSu
| Stock quotations reported Journal by
| Watson & Co., brokers. Chamber OF Commerce
Minneapolis. Closing figures are bid.