The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-17
STOCK MARKET
MOVES HEAVILY
OPENING PRICES VARY SLIGHTLY
TRADING rs LIGHT.
Buying Of Leaders Lifts General Mar
ket for While, but Bearish Ten
denotes Are Felt Later-Pressure
Against United States Steel a De-
pressing Factor.

New York, May 17.-Opening prices Of stocks
varied but little from last night, and the vol
ume OF business was very small. Advances of
In Wisconsin Central and of " in Union
Paclnc and the decline of a point in Cleveland,
Cincinnati, Chicago s. st. Louis were the only
changes of any note. S..
The United States Steel stocks were sold to
medium fraction below last night, and frac
tional reactions in sympathy were general.
North Western reacted n and Locomotive and
Louisville e. Nashville point. Great North
ern preferred and Bag lost l. st. Paul was
then marked up again to 17eA and prices else
where hardened. Kansas City Southern pre-
ferred, Colorado & southern first preferred,
Colorado Fuel and Paper gained about point
very rev different stocks figured In the trad
Ing. Prices yielded again at noon. Bonds were
firm.
The pressure against the United States Steel
stocks Slapped the energy Of the bull specula-
States Steel sold down about point to S0A
and kindred stocks were weakened Tennessee
Coal losing l and Colorado Fuel as much.
Northern Pacific fell back to 191. st. Louis
Southwestern dropped point and the preferred
made precipitate decline Of 2as. =,
Speculation was devoid of feature for the
greater part Of the afternoon. Stocks huctuated
aimlessly and were unresponsive to the heavi-
ness of few high-priced stocks. Great North
ern preferred sagged and General Electric,
Colorado Fuel, Metropolitan Street Railway and
Steel Foundries preferred 1@1A. Sloss- Shelf
field Steel hardened 2 and yielded half Of it.
Simultaneous buying up of several recognized
leaders gave an impetus to other stocks, and the
entire market developed a fair degree Of
strength Buying was spirited at intervals,
but occasional realizing met the advances. st.
Paul improved 2A to 1884, the preferred 97h
Northwestern ~, Pennsylvania, Union Pacific,
New York Central louisville & Nashville, I'LL
nois Central Colorado Southern, the second
preferred. Brooklyn Transit, Locomotive, Lead,
Consolidated Gas, United States Rubber and
Hide & Leather preferred rose l to IN. Rock
Island preferred fell away 1, Delaware & Hud
son liz and United States Rubber preferred
~. The last named rallied IN. Northern
Pacific lost and rallied l u.
There was free selling of the metal stocks in
! sympathy with the weakness of the United
States Steel stocks which lost over a point
Tennessee Coal dropped 21a, Amalgamated Cop
per y and the Republic Steel stocks, American
Car preferred the Smelling stocks and People,
Gas 1 to 1ss, Earlier gains in the railroad
list were lost. Union Pacific and others falling
a small fraction under last night. st. Pau
reacted rs, Northern Pacific lost 2A Cleve
land, Cincinnati, Chicago & st. Louis 2ss ant
st. Joseph & Grand Island first preferred
dropped T. Room shorts covered and caused
slight rallies and Amalgamated Copper made
full recovery. The closing unsettled
Stock quotations reported for The Journal b!
Watson & Co., brokers, Chamber of Commerce
Minneapolis. Closing figures are bid.