Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-02-28
London Advanced Prices of
Americans at Opening.
SOME STOCKS HIGHER
UNION PACIFIC STRENGTH STIFF
FENED PRICES.
Wave Of Liquidation Caused a Violent
Break-Trading Became Quiet
Active Leaders Forced Down.

NEW YORK. February 2S.-London ad-
vanced the prices of Americans this morn
ing. but the opening in the stock market
here did not follow that leadership through
out. The majority of stocks. however. were
higher, and trading was quieter than yes
terday. Consolidated Gas rose .. Baltimore
and Ohio rs and Metropolitan Street Rail
way large fraction. There were transfers
of $500 shares of Southern Pacific at 12is
and TIA, compared with - last night. Min
neapolis. st. Paul and Sault Ste. Marie lost
l and New York Central half but the
latter Immediately rallied to above last
night.
The strength of Union Pacific stiffened
prices elsewhere in sympathy, the local
fractions rising l to IL. Consolidated Gas
31a. International Power and Pullman 5i2.
A sudden wave of liquidation then caused
a violent break in prices. Union Pacific
was swept points below last night, New
York Central 2as, Northwestern 28 South
Pacific 2h. Illinois Central and Nash
vile. Chattanooga and St Louis 3, st. Paul
IA. Tennessee Coal and Canadian Pacific.
Ontario and Western. Louisville and Nash
vile. Reading. Colorado Fuel, Republic
Steel preferred. Virginia Iron. National
Lead, Locomotive preferred. Chicago Ter
minal preferred and Alls-Chaimers pre-
ferred a point or more. Union Pacific i'm
mediately rebounded over points and
Southern Pacific st. Paul and New York
Central point.
The sudden recovery gave the decline the
appearance of a bear raid, designed to dis
lodge stop loss orders in which ii succeed
ed. Prices hardened only moderately after
the first recovery. and the trading was COM
ratively quiet. Amalgamated Copper rose
rs. and the local fractions sold at top
prices. with Brooklyn Transit in very large
demand, Tennessee Coal recovered all OF Its
losses and Rubber Goods preferred gained
lis. Pullman extended its rise to 61s points.
Belated selling caused losses of a point or
more In number of minor railroads and
industrials. United States Reduction sold
at IS, compared with 10Y for the last sale
in November. 1902.
Bonds were heavy at noon.
Union Pacific gradually crept up to about
135, and then halted, did other active
stocks owing to a fresh diversion of spec
ulative interest into number of less active
properties. Pullman led this group with a
bulge of ten points. and General Electric,
Westinghouse Electric, Sloss- Sheffield Steel
preferred, Tennessee Coal and Pipe i'm
proved from 1Es to 3 points. Evansville and
Terre Haute preferred sold at 30, compared
with S2h last November.
Republic Steel preferred more than recov-
cred its morning break. A fresh drive
against Union Pacific and New York Cen
tral commenced at l o'clock. and they, as
well other active leaders. were forced
down between l and 2 points. New York
Central touching 1855
Pullman lost about half It's rise In the re-
action, but aside from New, York Central
prices did not fall as low on this drive as
In the morning break. A spirited rally In
the Erfes brought the common to AZ and
the first preferred to sly This movement
strengthened the market a bit. but the in
quiry became slight on the rise Near 2
o'clock leading stocks ran off rapidly again,
Pennsylvania, Reading, New York Central
and Atchson touching the lowest of the
day. Reading and Della ware and Hudson
showed losses of 112 and Pennsylvania IA