The Minneapolis journal., 1905-11-24
SPECULATION IS
HIGHLY IRREGULAR
OPENING PRICE CHANGES IN
WALL STREET VERY MIXED.
Trading at the Outset Is on a Large
Scale and Later Dealings Are Also
Heavy, with the Market Fluctuating
Pennsylvania Is Bought Freely.

New York, Nov: 24-opening price changes
in the stock market were exceedingly mixed
and wide In special Trading was on
large scale and widely distributed. The Metro
politan traction stocks, St. Louis & San Fran
cisco second preferred and North American rose
In the ne1ghborhood of point. Thirty-tiye hun
dred shares OF Union Pacific sold unchanged to
Is lower, tennessee Coal dropped TX, S1nelt-
Ing n, Anaconda II, Northern Pacific, Penn
sylvania and Locomotive a point and Erie sec
ond preferred and American Car large frac-
tions.
Alternate advances and declines in special
stocks swayed the market and caused a highly
irregular speculation. While progress was be-
ing made upwards by stocks in sympathy with
the concentrated buying of fayorite, an equal
following took a counter when another
leader was unloaded. Finally the weight of sell
ing began to tell and the list became weak.
Union Pacific, which had been marked up to
1917, reacted u, and q rise of q point in
Amalgamated Copper was wiped out. Reading
sold, down from 13S to 1864, and number Of
other standard stocks sold good fraction be-
low Yesterdays closing. Earlier gains reached
III Pullman, 2s in Metropolitan Street Rail-
way and 1A in General Electric. Smelling
lost 2. ..s.
The recent speculative leaders fuctuated wide
ly and irregularly. Reading and Smelling went
to last nights level Tennessee Coal recovered
from points below to Il above last night s
level. Soss- Sheffield Steel from 15s under to as
much over last night. National Lead also rallied
from / below to l above last night, and Anal
gamated Copper recovered its 1-point gain
These advances were lost again before the end
Of the hour. Enormous buying of Pennsylvania
carried it from 40 to 141ss. The movement in
the general list narrowed and trading became
dull in the confusion of speculative sentiment.
Bonds were steady at noon.
More definite movements prevailed after II
o'clock. The list, tho dull, inclined to harden
when Smelling and Reading became conspicu-
ously strong. But little attention paid to
the railroad stocks, the early squirt and subse-
quent relapse in Union Pacific repressing conf
dent operations in the railroad division Read
Ing reached l38 again and Smelling made an
overnight rise Of 1B. Round amounts of United
States Steel stocks were bought similar to the
demonstration in these shares yesterday, tho the
movement was of little effect the common
stock. The preferred gained /. Chicago 6
Eastern Illinois certificates improved A. Federal
| Mining yielded AZ. ,.%r,=s
| few stocks monopolized the trading opera
tions of the afternoon and their course had little
bearing on the general market, which dull
| and without special change The leading in
| dustr1als, such United States Steel preferred
Amalgamated Copper Smelling, Lead and Brook
| lyn Transit, all reached higher prices. Smelt
ing and Leads gains reached PA and the Others
! about a point Federal Mining regaiped it:
previous loss of AZ and the preferred advanced
| IN Wabash preferred was unusually promi
nent for q time and rose a point. $50
Profit Taking General.
There was general movement to take profit
owing to uncertainty caused by the srsati
movements in leading speculative stocks. tatead
| ing rose to 1884, before the reaction becam
general. Pullman jumped 9. Prices thruout fel
back an average of 1 to IL. Smelling lost it
| 21a point rise, and Brooklyn Transit reacted
Declined from last nights level ran to 1ss fo
| Missouri Pacific and International Pump pre-
ferred 1A in Rock Island and in the pre-
feTed Small rallies covering by the roon
shorts were not held and the closing was &C
tive and weak. s. ..{r
Stock quotations reported for The Journal b
Watson & Co.. brokers, Chamber, Of Commerce