The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-20
ENORMOUS BUYING
IN UNION PACIFIC
EARLY PURCHASES QUICKLY
FORCE THE PRICES UP.
Southern Pacific Keeps Pace in Activity
I and Gains-Federal Mining One Of
the Stars Of the Morning Price
. Movements Not Uniform.

New York, Feb. 2O.-The opening trading In
the stock market today was very active IN the
Pacidcs, Chicago Great Western and Ontario 4.
Western. First sales of Union Pacific were OF
5000 shares at an extreme advance OF 7s. st.
Paul was up ! u Southern Pacific $ and Ontario
4 Western "A Some Of the speciaities a also
showed sharp gains, Federal Mining rising ~,
the preferred 11a,s Lead rs and Smelling, Pacific
Mail and Locomotive large fraction to point
Reading, Pennsylvania, Rock Island and Amala-
gamated Copper made small fractional losses
Otherwise prices were higher.
Notwithstanding the buoyancy displayed by
Union racine and many specialtles' general
price movements were not uniform and heaviness
developed in spots. Eastern and southwestern
railroad stocks and the United States Steel stocks
were among the favorites that were sold steadily
The rise IN Union Pacific to 1917 was accom-
piished by the absorption Of thousands and thou
sands of shares of stock. Southern Pacific kept
with 1T In activity and gained III. Practically
little elso OF interest transpired in the railroad
quarter Federal Mining continued to rise In a
sensa tional manner, the first hours gain reaching
over 10 points. Other noteworthy improvements
We're sloss- Sheffield Steel 81, the preferred 81,
Cleveland, Cincinnati, Chicago st: Louis g.
Republic Steel preferred and the Lead stocks
2 to ~, Smelling Ia. Consolidated Gas " and
Louisville & Nashville, Lnseed and Republic
Steel 1. Pullman and Wabash preferred declined
o'clock &l2 ~ i ...
The reaction in Union Pacific was limited to 1
and the check to it's decline steadied other stocks
after some of them had reacted point or more.
week. After dull and sluggish period heavy
buying Of Ontario & Western lifted it 2ss and
animated the market. Amalgamated Copper,
Reading and Atch1son preferred gained i. North
Western Il: Linseed preferred 2A and Manhat-
tan Beach IN. Union Pacific and St. Paul rail-
lied to the top Bonds were firm at noon.
Concerted buying in various quarters impaired
an appearance Of aggressive strength to the
market after midday. st. Paul bulged to 17o
and North Western gained IN. Some of the
eastern stocks came into active demand, Balti-
more & Ohio and Chesapeake & Ohio rising q
selling over last weeks closing. In the special
ties Sugar and Tennessee Coal were bid up
over point each Proft-taking in western
stocks clipped off point Of the rise in St.
Paul, Union Pacific and North Western, but the
market rallied vigorously again under the leader
ship of the United States steel stocks, the conf
mon rising a point. -.~
Ing late In the afternoon. The leading western
stocks and Ontario & Western ran off about a
point and Northwestern Q. Meantime the iron
and steel stocks were rising strongly. United
stocks, Steel Founderies preferred and Corn
Products advanced to IL. Federal Mining pre-
5erred g. 81 and Soss Sheffield Steel preferred
gain of 4 points. Central Railroad of New
Jersey, Rubber Goods preferred and Grass Irvine
lost point each. Ontario & Western advanced
Erie followed the Ontario & Western recovery
WIZ Win gain OF l. The second preferred also
affected prices Union Pacific especially falling
and Kansas & Texas preferred fell / below last
week. United Fruit advanced 4. Amulgamated
Copper's rise to about IS led rally. Atchson
gained l. The closing WIS active and firm.
Watson & Co.,. brokers, Chamber of Commerce,
Minneapolis. Closing figures are bid. . -