The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-24
NORTHERN PACIFIC
TAKES A PLUNGE
TEN-PoINT BREAK IN NORTHERN
SECURITIES rs THE CAUSE.
Union Pacific, st. Paul and Other
Stocks Yield Under the Resultant
Depression Feverish Rallies Fail to
Hold Prices Up-strong Effort to
Support Transcontinentals

New York, April A.-The opening trading In
stocks was active and the tone unsettled. There
were wide changes both ways, but losses predom-
Ina ted. Large offerings of Union Pacific carried
1T down IN. Kansas 4 Texas preferred lost as
much. Chesapeake s. Ohio and Peoples Gas a
point and st. Paul, Amalgamated Copper, Repub-
lie Steel, Car, Colorado Fuel and General Elec-
trio large fractions Theery was vigorous support
in some of the southern stocks which lifted Louis
Vile & Nashville and Tennessee Coal a point,
Rubber Goods almost as much and Mexican Cen
trail u.
The market steadied slightly after the open
Ing, but tie 10pOint break in Northern Securi-
ties on the curb renewed the liquidation and
prices fell heavily turnout the list. Northern
Pacific newly released by the Northern Securities
dissolution, sold at 1888 and 1914, compared
with nominal quota ton of 100 bid, maintained
for some time past The plunge carried down
Union Pacific 34a, st. Paul 2s, Smelling az
Amalgama ted Copper 2h Colorado Fuel 3as, Ten
nessee Coal 2h sloss-sheffeld Steel g. Lead 2A
Peoples Gas 8. New York Central 2A, Ontario
4 Western 2ss, Rock Island ~, General Elec-
trio IN and Chesapeake & Ohio, Canadian Pacific,
Southern Pacific, Illinois Central, American Car
and some others about points. The general de-
cnnes ran from to 2 points. There were fever
ish rallies Of from i to 2 points, but prices at
other points continued to decline.
support In the ranscOntinental stocks became
enect1ve and rallied them u and Amalgama ted
copper, smelling and Peoples Gas recovered 2
points. The support was not effective in the
general list and there were some further declines
Northern Pacific sold at 165 and General Elec.
tric lost 4. When the liquidation was checked
actv1ty OF trading diminished greatly and the
tone became uncertain at the recovered level
consolidated Gas rose l "a, Cleveland Cincinnati,
Chicago & st. Louis i " Atlantic Coast Line
at noon rose ~ over last week. Bonds were
unsteady at mono. = = -
Early losses were largely restored in the more
representative stocks. Bull operators derived en-.
couragement from the support to Union Pacific
s anu me ouoyancy of the southern group and
oought more generally thruout the list. Lou
l I q Nashvilel jumped to 150A and Allan
tic Coast brought 169. Northern Pacific had re-
covered to 10 by O'Clock, :. :
Ntno there was persistent buying during the
forenoon the effect on the general market was moi
pronounced. Railroad stocks halted generally
wneh tney got near Thursdays closing. The de.
man was centralized In a half dozen stocks and
was WA, most urgent in the southern group Louis
in n q nashville got up points and Chesapeake
q Onio touched 56. Colorado & Southern and the
second Sec preferred, New York, Chicago & st. Louis
s sod, M We Electric rose to H. Con
sonoated Gas and American Express 6. =
stock quotations reported for The Journal b,
Minneapolis. Closing figures are hid &C