The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-20
UNION PACIFIC IN
HEAVY DEMAND
$4,000 SHARES OF STOCK CHANGE
HANDS AT OPENING.
Price Of Big Transcontinental Rises
Rapidly-Induence on Rest of Mar
ket Is Quickly Felt-Speculation Be-
comes Irregular After the Noon Hour.

New York, Dec. 20.-The stock market lacked
q definite tendency at the outset today, but the
variations either way We're not OF consequences
OUTSIDE OF few important stocks. Union Pa
clhc was striking feature, 5000 shares chang
Ing hands at from 147 to 14Th, with later
rise to l4SM. Yesterdays closing was 1461a.
caused 2-point loss in that stock, and the
change In control of Tennessee Coal was as
signed for its 31apoint loss New York Cen
tral rose good traction.
All doubts as to the action Of the immediate
market were apparently dispelled by the wave Of
buying orders that came into the market after
the sensational buying in Union Pacific. That
stock advanced 21a to 149. Representative stocks
OF all classes bought heavily, especially the
eastern trunk lines, the transcontinental stocks
ana some of the metal group. The more impor
tant gains recorded during the first hour were
Anaconda points, Northern Pacific BIZ, Della
ware q Hudson and New York Central IN,
Great Northern preferred 2, Amalgamated Cop
per, Sugar, Brooklyn Transit and Pennsylvania
1ab@lA, and Northwestern, Atchison, st.
Paul, Atlantic Coast Line, Colorado Fuel, Lead
and number of others to n. Peoples Gas
made feeble rally but met an enormous amount
OF stock again and dropped off points to 80
market. - -. -.
Buying for the long account was on an increas-
ing scale, but was more generally confined to the
standard railroad stocks. - OF these, New York
Central, Reading, st. Paul and Union Pacific
gave notable exhibitions of strength from time
to time and their buoyancy offset the efforts Of
the pear Ira0erS to force their reaction by at
lacking special stocks. New York Central and
North western scored advances of points, Read
ing and st. Paul "a, the preferred 3A and
Illinois Central e Meanwhile Consolidated Gas
was driven down Az and Southern Pacific made
sudden drop to IS. Shortly before 12 o'clock
the entire market yielded on profit taking. Bonds
were firm at noon. 80 81.
Speculation was very irregular between 12 and
O'Clock. After the strong stocks had reacted
from 1 to III the market became dull, but bust
ness was resumed on a large scale again, when
st. Paul and Union Pacific were both lifted
higher than In the morning. The general market
did not recover proportonately with the leaders
and there was another decline towards O'Clock
which carried them all down substantially.
operations In the stock market in the late
AFTERNOON were of a rather uninteresting char
acter in contrast with the earlier excited deal
ings The frequency with which stock was
supplied on bulges tapered the bullish enthusi-
asm, and the demand slackened with unimpor.
tant fluctuations Most Of the conspicuous fea.
lures of the day ruled about point below their
best prices, but showed a good deal of steadiness
at that level -
The most successful drive of the day agains!
the market was contaminated in the final hour
when Amalgamated Copper's gain was wiped out
the Smelling stocks driven to 1% under yes
terday's closing and Union Pacific, Northern Pa
| cifc, st. Paul, North Western, Sugar and Read
| Ing lowered from to az below their bes
| prices. Some of the stocks which had not figured
| largely in the days rise fell fraction uude
| last nights closing. The closing was heavy.
Stock quotations reported for The Journal BY
| Watson & Co., brokers, Chamber Of Commerce
Al1nneapolis. Closing figures are bid.