Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-02-25
Stocks Affected by RumOr of New
TranscOntincntal Combination
Traded in Most
UNION PACIFIC WENT WAY UP.
Heavy Dealings in New York Central
Spread Sympathetic Influence
TO Other Stocks.

New York, Feb. 25,--speculatlve move
ment was rampant on the stock exchange
this morning. The largest trading CEN
tered In the stocks affected by the long
time rumor Of railroad combination
across the continent from ocean TO ocean.
including New York Central, Chicago a.
Northwestern and Union Pacific Those
stocks were all violently affected and
spread a sympathetic influence into other
stocks I'm n modified degree. Opening sale,
Of New York Central were Of l000l
shares, all the way nom l5S 10 $50, Union
Pacific was bought at the opening 10 the
extent of 1900 sha5es from 1861 10
points and In. its subsidiary stock, Chit
cago, ST. Paul. Minneapolis aud Omaha,
70 4 points. The early bulge invited
heavy realizing aud there were sharp re-
Sen9ns from ,n thS t9p eyel New New YORK
and Northwestern 8 points Tho heavy
dealings in Pennsylvania were apparent
~ In sympathy with the New York Gem
trial movement, the opening sales Of D.
900 shares running nom li2h to li2% with
subsequent rise 20 1875 That stock
also subsequently ran Off a point The
whole market yielded during the course
OF the first hour and prices IN some cases
fell below last night 'fhe opening gains
In q number OF stocks mad run from / TO
? points and upwards The material adj
yances at the opening received additional
Impetus from London, whore transfer
Americans was generally higher, due no
doubt to buying orders received from New
York.
OF the several stocks that opened, Penn
sylvana was most generally bought
Brokers represented Philadelphia and 9th
er out Of town houses were large pur-
chasers Of this stock Commission houses
as rule, reported Increased business
from various out OF town points.
The buying OF Pennsylvania, Union Pa,
clhc, New York Central and several Of
teh more active securities was Of such
indscriminate and general character as
TO defy analysis. Naturally, the concur
rent rise In New York Central. Penn
sylvania and Northwestern, the latter
gaining points. soon after II opened,
gave rise to renewed gossip as to deals,
mergers and the like or actual news
there was none The Southern Iron and
Coke properties, which were the chief fea-
lures Of strength few days ago, were
today rather reactionary.
The tone Of the stock market was few
ersh and unsettled for time with heavy
realizing In the active leaders, but after
the appearance of the favorable bank
statement, the most active stocks shot
up again and the market became very
animated again. New York Central touch.
ed l60ik Pennsylvania went TO ia and
st. Paul touched 1850 Union Pacific met
heavy offerings, which kept 1t below its
previous figure,
The later bulge In the leaders was taxi
en- advantage OF for very heavy realizing
! Of the general list and Union Pacific was
under constant pressure. The market
closed highly irregular but Pennsylvania
was very buoyant, selling as high as
| 14iN Union Pacific closed unchanged
| from last night
The sensational movements with which
stock market closed yesterday were cons
| tinued at the opening this morning. Sales
| Of 10000 shares Of New York Central were
made from 1855 TO 1859, compared with l5bil
last night, Twenty-Five thousand shares
| Of Pennsylvania sold at l42h and li2A
| with 1llA last night There were alsc
| gains OF I and ~ to points IN Reading
| Rock Island illinois Central and members
| Of the Canadian group. and large frao'
| tlOnal advances In Brooklyn Rapid Tran
SIT and Louisville & Nashville, sloss-
| srefneld Steel opened down 8 points
| Union Pacific got X higher than It's OPEN
| ing, Northwestern rose In all and chi
cage, ST. Paul, Minneapolis and Omaha
| az. The, violence Of the movement In tht
few leaders had an intlmdatng effeci
| on sentiment and tho whole market solo
of on their sudden. reactions. Northwest
ern fell back 5, New York Central "a
| Union Pacific ~ and Pennsylvania .
point. other stocks reacted q point OIL
| more which carried some OF them below
last night Central Railroad OF New Jer
sey lost /. Tennessee Coal IA and Re
public Steel preferred ~ and Sloss-Shef
sure decreased when the market steadlet
and became quleter, but reacted agall
when Union Pacific ran of TO fra tloi
| below last nights closing. The specula
tive leaders spurted again today after tn
| appearance of the favorable bank state
| ment. New York Central was carried L
Jon Pennsylvania 10 1i41s and St. Pau
on enormous dealings rose n point 20 Isl
| Union Pacific rose again TO l3l, but wa
set back by realizing Prices In the gen
oral list did not rise again to the higl
level except for afe W stocks Erie AM
| Atchison gained a point and Tennessee
Coal recovered 10 point above last night
| American Express gained So unile
| states Express and Lackawanna ~
Prices became nuctuating again, Unlol
pacins falling below last night and real
izlng makes It's impression at othe
pointB The closing was very aninnte
| and Irregular,
close. Money on call nominal no loans
Time loan, firmer; % days, 8 per cent
% days, 9h pei" cent, six months, 81
per cent
Prime mercantile paper. Sikl4b per cent
Sterling exchange easier with actua
business In bankers bills nj i.@S 70
demand and at 4,8,i0 for G0-day bills
posted rates ASA ana i.S; Commercial
bills, 4Ais,
abr silver, 60N.
Mexican dollars, A.
| Bonds--Goyernme steady; railroads