The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-03
RAILROADS DOWN;
SPECIALTIES UP
OPENING STOCK MARKET SHOWS
A SPLIT IN PRICES.
Union Pacific Heads Railroad List in
Opening Losses Sugar Shows Gain
Of 1Hs, but It Is Quickly Cancelled
General Trend Then Is Upward.

New York, March 3.-Opening prices of lail-
road stocks today showed some sharp recessions
while the industr1als and specialties were In
cllned to move in a contrary direction The
opening, in consequence, was very Irregular.
Union Pacific lost ] "a and declines ran to
point In New York Central Atchison, Southern
Pacific, Atlantic Coast Line and Consolidated
Gas. There were light fractional declines also
for Pennsylvania, Baltimore & Ohio and Erie.
Among the gains Sugar showed IL and Mime
apolis, ST. Paul & Sault Ste Marie, Erie second
preferred, Metropolitan Street Railway and
Smelling large fractions.
Apart from the immediate cancellation of the
rise in Sugar, leading stocks quite generally
trended upwards after the opening dealings. Con-
sp1cuous advances, however, were limited to re-
cent features such as Erie second preferred and
the southern railroads. Attic Erie second pre-
ferred moved up buoyantly to 71h, the COM
mon stock showed little sympathy with the
movement and ruled under yesterdays closing
An advance to 140h by Atlantic Coast Line
caused sympathetic rise of nearly 2 points in
Louisville & Nashville, but southern and south
western stocks otherwise were not benefited
Union Pacific made up nearly all its loss, but
| the grain carriers generally without
feature. Metropolitan Street Railway improved
+ 2 and Realty 2h. Kansas City Southern de-
cllIed 1, Missouri, Kansas g. Texas IN, Lack
| awanna IL and Pullman 3N.-
Prices recovered slowly to near last night
level, but near noon sale recorded "f
Sloss Sheffield Steel at &c. This stock yesterday
at 10S, and much higher last week. Prices
ran of after this Tennessee Coal broke 3A,
cinnati, Chicago & St. Louis ~, New York
| Central x, Lead preferred 1B and Union Pa
| cifc, Erie Baltimore & Ohio and Ontario g.
Western got point under last night. Louisville
| & Nashville lost its gain. There had been
gains Of about IN by Smelling and Steel Foun-
| dries preferred, and United States Reduct ton
preferred sold 61a higher than the previous sale.
| Sloss-Sheffield Steel sold at 95 following the
| sale at Sc. There were heavy blocks dealt In
! Of Kansas City Southern threes at 72h and
! above. Bonds generally steady at noon.
| Small offerings continued to come the mar
ket and some of the important stocks
sold still lower. Business in general was too
scanty to produce much variation in values, the
heavy selling just before midday apparently
cleaning up urgent orders. st. Paul, Wabash
preferred Colorado & Southern first preferred,
Metropolitan Securities, Republic Steel and Vir-
gnia-C Carolina Chemical all sold point under
yesterdays closing. On the other hand sloss-
| Sheffield Steel got back to 80, Des Moines &
Fort Dodge rose TX and Lackawanna 81.
| good deal Of demand developed for the
southwestern railroads, and advances Of to 1 Il
| occurred in Kansas & Texas preferred st. Louis
| Southwestern preferred and Texas & Pacific
| Missouri Pacific, Kansas & Texas and Wabash
preferred recovered their earlier losses Of about
a point. Renewed liquidation in Tennessee Coal
which fell to ss, depressed the market at 2
o'clock. Reading and Pennsylvania lost point
and Union Pacific ~. Atlantic Coast Line
showed good resistance, touching 1909.
! Stock quotations reported for The Journal b!
| Watson & Co., brokers. Chamber Of Commerce
Minneapolis Closing figures are bid.