The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-13
LEAD Is BUOY Ant
IN WALL STREET
WILD ADVANCES IN SMELLING
ALSO AN EARLY FEATURE.
Bulge Causes Realizing for Handsome
Profits and Sharp Decline Fol
lows-Bullish Enthusiasm in Copper
Develops, Carrying the List Upward
Bonds Steady.

New York, Dec. 13.-Yesterday's wild ad- |
.vances in the Lead and Smelling stocks were
continued in the stock market at the opening TO-
day, running sales Of large blocks being made
at widely varying quotations.
Smelling was carried up an extreme 34a, pre-
ferred 3A and Lead 29s. Gains elsewhere We're
and Kansas City Southern preferred l1s, and
Missouri Pacific, st. Paul, Wisconsin Central.
Hide Leather preferred, Tennessee Coal, Loco
motive, Amalgamated Copper and United States
Rubber large fractions. Wisconsin Central pre-
ferred cold at decline Of point
There was heavy outpouring OF stocks on
the opening bulge to realize profits The sales
represented in part handsome gains that had
accrued from recent purchases and efforts by
the bears to turn the market. The Smelling
stocks fell back 2@2A, Lead 1ss and Brook
and Union Pacific /. Besides these recessions
National Biscuit driven and Tennessee
Coal, Railway Steel Spring, Reading and Ontario
American Express lost 4. Scattered gains were
made during tn eheight of the selling none OF
which was retained. Anaconda had been up 3A,
Virginia Carolina Chemical, Hide s. Leather pre-
ferred and Metropolitan Securities 1@1A. An
outbreak of bullish enthusiasm in Amalgamated
Copper developed later, and 1t rushed up to
par, carrying the list UP with it. Sugar rose
TX over last night, Federal Mining preferred
IN and Texas s. Pacific l..
Picked stocks were rushed up from time to
time without much effect on the general list
which did no more than hold firm. Amalga-
mated Copper 215 on very large dealings,
and Smelling and Lead recovered to the best
in sympathy. Distillers' Securities advanced
~, United Railway Investment IN, Kansas
City Southern preferred 2A, United States
Realty 2. Pacific Mail sold at decline Of IL,
New York Dock 2, Lead preferred and West
ern Maryland is. Bonds were steady at noon.
Buying of Railroads.
Buying swung around again into the railroad
stocks in sympathy with Union Pacific, which
was bought in successive blocks Of from 1000
to 5000 shares, raising 1t over points to
| 143A. Brooklyn Transit and North Western
gained similar amount and st. Paul, New
York Central, Louisville & Nashville and South
ern Pacific about half as much The speculation
| continued broad and confident enough to permit
this shifting of large operations without affect
ing the specialties which were the earlier strong
| features Rock Island preferred, Canada South
ern, Pressed Steel Car and United States Rub
Der first preferred fell point each. =
The growth Of buish sentiment was fostered
| by the expanding demand for the better known
| railroad and Industrial stocks. Large orders
were placed in various stocks and the rapid i'm
provement that resulted streng thened the gen.
| eral ma ket.
Before 2 O'Clock Union Pacific had been cred
tied with rise of 3ss. Colorado Fuel preferred
also moved up T. Chicago, st. Paul, Minneapolis
& Omaha 31a, North Western, Cleveland, Cincin-
NATL Chicago & st. Louis and Kansas City
Southern preferred 8, Metropolitan Street Rail-
way IN, Illinois Central, Atchison and CONSOLE
| dated Gas IN and New York, Chicago & St..
Louis second preferred, Wisconsin Central, Penn
sylvanta and Republic Steel preferred l. Ana
conda became heavy and sold down to 1907,
IN below yesterday. - - 5r@ 4
The New York public utilities fared up on
| the judicial decision at Albany in the New
York election case, Consolidated Gas rising 81,
Metropolitan Street Railway ~, Brooklyn Tran
| sit Al, metropolitan Securities 3A and Third
avenue ~. Union Pacific touched 146, Lake
Shore sold at gain of 10 points, Lake Erie &
Western b. Missouri, Kansas g. Texas1 and
| the preferred 2. Profit taking became very large
under cover Of these movements, and prices re-
acted sharply, the local stocks, Smelling, Lead,
Union Pacific, St. Paul, Amalgamated Copper
and some others falling back from u to points.
| New York, Chicago 81 ST. Louis and st. Louis
& San Francisco second, preferred fell and
Rock Island preferred T.. The market met
support and some rallies were effected. General
Electric rose and: New York Central g. The
closing, however, was irregular and very active.
Stock quotations reported for The Journal by
Watson & Co., brokers, Chamber Of Commerce,
Minneapolis. Closing figures are bid