The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-28
ADVANCED
AMERICAN PRICES
EARLY VALUES WE'RE UP, BT5
TRADING WAS QUIET.
Union Pacifc's Strength Stifened
Prices Elsewhere Until a Sudden
Wave Of Liquidation Caused Break
to Below Last Nights Range-A Re-
bound Followed.

New York. Feb. 2S.-London advanced the
prices of Americans this morning but the opening
In the stock market here did not follow that lead
ershp turnout. The majority of stocks, how
ever, were higher and trading was quieter than
Yesterday. Consolidated Gas 2, Baltimore
8 Ohio Il and Metropolitan Street Kailwa! a
large fraction. There were transfers of $500
shares Of Southern Pacific at 72h and TN, com
pared with II last night. Minneapolis, st. Paul
& sault Ste. Marie lost i and New York Cen
trail half. but the latter Immediately rallied
to above last night. q"
The strength of Union Pacific stiffened prices
elsewhere In sympathy, the local fractions rising
to ", Consolidated Gas 81, International
Power and Pullman 51A. A sudden wave of
liquidation then caused violent break in prices.
Union Pacific was swept 3 points below last
night. New York Central 23s, North Western
IN, Southern Pacific 21s, Illinois Central and
IL, Tennessee Coal and Canadian Pacific, On
tario & Western, Louisville & Nashville, Read
Ing. Colorado Fuel, Republic Steel preferred,
Virgini0 Iron, National Lead, Locomotive pre-
ferred, Chicago Terminal preferred and Allis-
Chalmers preferred a point more. Union Pa
cihc Immediately rebounded points and
Southern Pacific, st. Paul and New York Central
a point.
The sudden recovery gave the decline the ap-
pearance Of bear raid designed to dislodge stop
loss orders in which 1t succeeded. Prices hard
ened only moderately after the first recovery and
gamated Copper rose LIZ and the local fractions
sold at top prices, with Brooklyn Transit In very
large demand, tennessee Coal recovered all OF
Its loss and Rubber Goods preferred gained
IN. Pullman extended it's rise to 81 points.
Be1ated selling caused losses of point more
in number Of minor railroads and industrials.
United States Reduction sold at IS, compared
with 101a for the last sale in November, 1902.
Bonds were heavy at noon.
Pullman lost about half its rise in the reac-
tton but aside from New York Central prices
did not fall as low on this drive as in the NOR
ming break. spirited rally in the Fries brought
the common to AN and the preferred to 81 u.
This movement strengthened the market a bit
but the inquiry became slight on the rise. Near
2 o'clock leading stocks ran of rapidly again,
Pennsylvania, Reading, New York Central and
Atch1son touched the lowest Of the day. Read
ing and Delaware & Hudson showed losses Of "
| and Pennsylvania ".
Union Pacific gradually crept up to about 1876
| and then halted did other active stocks,
owing to fresh diversion Of speculative interest
into number of less active properties. Pullman
led this group with a bulge of 10 points, and
General Electric. Westinghouse Electric, Sloss-
Sheffield Steel preferred, Tennessee Coal and
Pipe improvd from ~ to 2 points. Evans
Vile & Terre Haute preferred sold at 80 COM
pared with 82h last November. Republic Steel
preferred more than recovered its morning break.
fresh drive, against Union Pacific and New
York Central commenced at 1 O'Clock and they
as well as other active leaders were forced down
between 1 and points. New York Central
touched 1885,. s. - 81
Stock quotations reported for The journal by
Watson & Co., brokers, Chamber Of Commerce,
Minneapolis. Closing figures are bid.