Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-03-29
SPECTATORS
WERE AT SEA.
Strong Opening Of the Stocks and
Heavy Purchases We're Be.
wildering TO Them.
OFFERINGS WERE VERY HEAVY.
Well Tsken and While Affecting the
Market to Some Extent IL Soon
liarnened.

New York, March 2o-opcning prices in
the stock market today were well above
the previous close. This was particularly
noticeable In the Pennsylvania group, and
the western stocks. Purchases OF many
OF the representative leaders were III
blocks Of thousand shares or more.
Northwestern advanced points and Cam
adam Pacific, Union Pacific, New YORK
Central, Sugar and Amalgamatedl Copper
to ~. Speculative operators were be-
wlldered by the action Of the market. Az
ter the strong opening heavy offerings
came from all quarters and ST. Paul Bal.
timore g. Ohio, Missouri Pacific. ontario
d Western and Rock Island declined a
fraction under yesterdays closing, EN-
tensiye buying was begun at the lower
range and the market rose rapidly again
eelipslng the opening figures. Pennsyl-
vana and Union Pacific were taken In
enormous blocks and the general inquiry
seemed urgent 81. Paul, Pennsylvania
and southern Pacfhc were added to the
carrier gains Of a point or more. Lack
awanna jumped 6h Realizing began at II
o'clock and the market became quet.
!. Active bidding for Canadian Pacific and
JUS controlled stocks caused A rise OF ~
Shore and Atlantic. 4 In Minneapolis. ST.
Paul 4 Saut Ste Marie. and "a In tho
preferred. This demonstration was ig-
nored by the general market which sold
on steadily on an increasing volume Of
offerings. The Canadian group then re
acted. sharp pressure against Tennessee
Coal, which lowered II almost points
and the maintenance Of a stiff per cent
call money rate contributed 10 the de-
pressing factors, The mornings advance
In a few stocks was wiped oht. but the
general market retained fraction OF the
rise.
Bonds were slightly irregular at noon.
The pressure was not continued and the
market hardened slowly. Union Pacific got
back TO us highest and United States
Steel and Reading sold trlfie above their
best prices of the forenoon
The failure OF call money to show any
hurry encouraged buying strongly. Union
Pacific advanced an extreme "a, North
western 3R, Wabash preferred 2%, New
York Central 2%, Delaware q Hudson 2A,
50 Paul 2 Canadian Pacific rs and
pennsylvania ~. Gains of | to w were
fairy general There was buoyant rise
OF ~ In Wabash debenture b. bonds on
large transactions, Profit taking checked
the rise. United States Express fell 5%,
The closing was Irregular and rather dull.
the average higher than before. The
United states stocks, Reading, Erie, on.
tario 4 western and Atchlson got a point
over last night tor the first time. Union
Pacific extended It's rise 10 about g.
cent, closing bid SO offered at per cent.
Time loans. hrm 60 and % days and
six months, 3h per cent
Prime mercantile paper 3&@ih per cent
Sterling exchange steady with actua,
business In bankers bills at AS5 S5d4 Isl. %
for demand. and at iS3,eOdi,Si for tO-day
bills.
Posted rates, 4.siisdi 81 and 4.sGJkd4S7.
Commercial bills, i.S39sa4, S3A.
Bar silver, b6ii.
Mexican dollars. iSk.
Government bonds, strong; railroad
bonds, steady.