The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-22
MERGER GROUP
IS PUSHED DOWN
NORTHERN PACIFIC AND GREAT
NORTHERN DECLINE.
Day in Stocks Starts with Higher
Prices and Promise of Still Better
Things, but Profit Taking Starts
Slump that Hits Many Hard.

New York, May 22-Higher prices for Anneri-
cans In London gave an upward start to prices
here. There were few exceptions, but amongst
the less important stocks. Illinois Central rose
Pacific, Union Pacific and United States Steel
large fractions There was decline OF In
Virginia Carolina Chemical ir.
After absorbing the profit taking sales invited
by the opening rise, the market again moved ag-
gressively upward. st. Paul had, however, been
lowered to Saturdays closing level and some OF
the metal and car equipment stocks sold below.
The rebonund was quite pronounced In number
of fayorites, including Union Pacific, Southern
Pacific, Amalgamted Copper, Reading and St.
Paul, all of which sold point or more above
last weeks closing. Other gains reached Az In
Westinghouse Electric and point or more In
General Electric, Tennessee Coal, United States
Steel, Peoples Cas- Atlantic Coast Line, Chesa-
reake & Ohio, New York Central and Colorado &
Southern first preferred. Some Of the Junior
Vanderbilt stocks were notably weak, Canada
Southern losing point and Cleveland, Cincinna-
tt, Chicago & st. Louis 2, st. Louis & San Fran
cisco second preferred also dropped 1 and st.
| Louis Southwestern ". ~ t-"iS%s-~
Prices of prominent stocks made further up
ward progress. The gain in Illinois Central
reached IN, st. Paul and Delaware & Hudson
| 4 st. louis Southwestern preferred "a, Atchi-
son, Ontario & Western and Metropolitan Securi.
ties u and Rock Island preferred, United
States Steel and Car l., Westinghouse Electric
recovered Z points of Saturdays decline. There
| 6A, New York Air Brake s. Virginia Iron g.
Sloss-Sheffeld Steel and the smelling stocks
and Pressed Steel Car preferred 1 to IL. The
demand at the higher leyel dropped to nothing
and prices slipped back. Union Pacific and st.
Paul reacted 1. Bonds were irregular at noon.
Stock values crumbled rapidly under violen,
selling movement which gave semidemoralizeC
appearance to the trading. Wide losses were
made in the Northern Securities group and a hos
o metal and railroad equipment stocks. The
chief declines were Northern Pacific and Ameri
can Express s, Sloss-Sheffeld Steel g. Colorado
Fuel, Smelling Locomotive Pressed Steel Car
| United States Steel preferred Lead Sugar, Cana
dian Pacific and Wisconsin Central * to an ant
st. Paul, Pennsylvania, North Western, Louis
| vile and Amalgamated Copper 1 to IN.
Liquidation continued in great volume an,
occasional recoveries were followed By outbreak
OF weakness at new points. Amalgamated Cop
per broke heavily to points under Saturday an
United States Steel preferred lost e. st. Pau
and Union Pacific fell abruptly to points unde
saturday. Northern Pacific fell IN, Great North
ern preferred I, Smelling Az. Colorado Fuel 334
Suga: 3&, ST. Louis & San Francisco secon
preferred 3A, Tennessee Goa! 2h and activ
stocks pretty generally to III.
| Prices In some cases receded further in tn
hnal hour Great Northern preferred was force
down 10 points and North Western 4, and Their
were some additions to the list of losses running
to points or over. The room shorts then too
their profits and their buying to cover worke
some recovery, running from 1 to IN in som
OF the leaders. Pressure was renewed in tn
final dealings. The closing was active an
easy. . vs..-.s ,,.,@a- - ..,-'- 80 49,. r -
Closing quotations reported for The Journal b
| Watson & Co. Chamber of Commerce, Mime
apolis Closing figures are bid.