The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-02
OPENING PRICES
SHOOT SYLVIA Ard
BUoYANT RISE IN STOCKS FOL.
LOWS SHARP OPENING DEMAND.
Stocks Come Out Freely and Prices
React-Decline Is Not Extensive and
Rally Quickly Puts Prices Up-Great
Northern Makes Large Early Gain.

New York, May 2-Opening prices shot up
wards buoyantly apparently urgent de-
mand. The rise in Denver & Rio Grande pre-
ferred reached 2A, United States Rubber pre-
ferred 2, Smelling and the Toledo, st. Louis, &
Western stocks j ", Rubber Goods and Loco
motive IA and number of the southwesterns,
Metropolitan Securities, United States Steel pre-
ferred, Republic Steel and Canadian Pacific a
point.
Stocks were supplied freely on the opening
advance and the market soon reacted. The
reaction, however, was not extensive, and there
was a vigorous rally before IL o'clock I'M
portant gains We're made by number of lead
ing stocks, particularly those identified with
the metal industry and the leading southern and
transcontinental stocks. Great Northern pre-.
ferred rose 4, Missouri Pacific 3, Atlantic Coast
Line, Tennessee Coal, Pipe preferred and sloss-
Sheffield Steel 2a Smelling preferred g. Corn
products preferred LIZ and st. Paul. Union Pa
& Western, United States Steel preferred, Anal
gamated Copper, Pressed Steel Car preferred
and others 1 to IA. Kansas City Southern fell
/ and Consolidated Gas and Reading second
preferred 81. :.
Speculative sentiment became more cheerful
on revival Of the buying of special stocks.
OF these Louisville & Nashville and Atlantic
Coast Line were most prominent, rising ana
~ respectively. Reading spurted up z points
on large demand and Union Pacific, Amalgamated
Copper and few other stocks got back to the
top prices Of the morning. The local traction
stocks were supported and were marked up
y
The demand became listless owing to the char
acter Of the selling on advances and prices wer
inclined to droop. Exceptions were the Corr
Products stocks. the preferred rising 2% and tn!
common, Manhattan and Cotton Oil preferred
which gained Ia to i Il. Great Northern pre-
ferred advanced 6 and reacted A. Consolidate
Gas fell 5A, Brooklyn Union Gas 5A, Colo
RADIO Southern second preferreds3a4, Car preferred
IN, and Brooklyn Transit and Metropolitan Sc
curities l.. The market leaders showed scattered
fractional losses by noon Bonds showed strength
in spots. IS ~ <sssg:SSs.
Progress upward In the late afternoon was
stimulated by the general buoyancy of the Van
derbilt stocks and the announcement Of stocl
subscription privilege by North Western. En-
ergetic efforts were made by the bull traders
to hush the advance, and a number Of leader:
made gains of points or more. In genera
the market showed a good distribution Of
strength, practically all of the active stock.
ruling materially above yesterdays closing. Deal
ings were on a rather moderate scale. New
York Central, Illinois Central, Cleveland, Gin
cinnati Chicago & St. Louis, Delaware & Hud
son and Manhattan improved 2 to 29s, Atlantic
Coast Line and Northern Pacific 5h, North
Western e1s and Chicago, st. Paul, Minneapolis
g. Omaha 10. o..
Closing quotations reported for The Journal b
-suuIIV 'ooI9WuoO 10 I0qmBuO 20 3 uOslBA
apols. Closing figures are bid. - IS