The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-27
STOCKS CO.ASTING;;
: DECLINES SHARP.
MORNING. TRADING MARKED FOR
RAPID FALL OF PRICES.
Northern Pacific sustains an Early
Four-Point Loss Canadian Pacific
and st. Paul Also Depressed - Rallies
Fail to Be Interesting Bonds Heavy.

New York April 2I.-Prices declined with
some violence at the opening, the disposition to
sell being aggravated by the depression on for
eign stock markets. Norfolg 4 Western fell
u on the disappointment over the failure to In
crease the dividend, and Chesapeake g. Ohio lost
IN in sympathy. Louisville s. Nashville ran
of 2h falling back over a point between sales.
The decline in Canadian Pacific and General Elec-
trio ran to 2 points, New York Central and
Brooklyn Transit Il Texas & Pacific rs, Met
ropolitan Securities v, while the 1-point losses
included the Pacifcs, Atchson Missouri, Kansas
& Texas preferred and Colorado Fuel.
Much indecision characterized the stock trad
ing of the first hour. The opening losses We're
supplemented by further large declines, reaching
21a in Illinois Central and in Northern Pa
cihc A brisk rally followed, half dozen or.
more stocks recovering toa1k and Illinois Cen
trail getting u over yesterdays closing. Sugar
was lifted LIS to 142as. The market then broke
violently again to a point lower than before.
ST. Paul showed a loss of 1A, Norfolk &
Western and Nashville, Chattanooga s. St.
Louis 2h, Louisville & Nashville and Union Pa
cAc 2ss, and Republic Steel preferred rs. De-
cines of point or more were the rule.
The indifference of the demand on any recov-
cry in prices shown by the quick subsistence
Of the buying on occasional rallies. Prices Of the
leaders did not get lower than during the first
hour, but wide declines were made at new points
among the specialties. Smelling forced down
"a, Railway Steel Spring preferred 21a and
Republic Steel preferred 2ss. Louisville & Nash
Erie 2A, Chesapeake & Ohio and Chicago Great
Western preferred B *, AMI Atlantic Coast Line,
Southern Railway, Ontario & Western Consoli-
dated Gas, Tennessee Coal, Pressed Steel Car
and others between IL and 2. After a
rally Of IN in Smelling, .1ss in Tennessee and
in Norfolk & Western the market was dull and
soft ind yieldedw suddenly to the lowest at noon.
Bonds were heavy at noon. 49,.
Liquidating sales overwhelmed the market
after - o'clock and values faded rapidly, Enor-
NOUS seles of the hight priced standard railroad
stocks contributed to the pessimism among the
traders and there was a liberal outpouring of
speculative favorites. The southern group, New
York Central, st. Paul, Union Pacific, Norfolk
& Western and Tennessee Coal seemed at times
to be wholly without support. Nashville, Chat
| tanooga & st. Louis dropped "A, Louisville &
Nashville 4as, Tennessee Coal liz, Atlantic Coast
Line 3h. Union Pacific az. Norfolk & Western
8 AMI New York Central and Brooklyn Transit
2k. Fitful rallies of point SO in special
stocks were not held. ., -g O..
The market failed to show the expected demand
| from the bears in the final hour as a result OF
the short selling Turing the day and prices broke
| with renewed violence. Losses generally extend
ed from to points. Great Northern pre-
ferred lost 10, Louisville Nashville 6ss, Unior
Pacific 5A, Northern Pacific Nashville Chatta
| nooga & ST. Louis, Wheeling & Lake Erie frs
preferred, Locomotive and Pittsburg, Cincinnati
Chicago & St. Louis 5, Atlantic Coast. Line Az
st. Paul and New York Central Az. Canadian
Pacific AS, while the losses running from to 4
points included the great Pacifcs. trunk lines
coalers, southern and southwestern railroad stocks
! AMI the most prominent industrials. There was
| some covering by: romo shorts before the close
but the resulting rallies were not held. The
closing was semidemoralized., ,-:..~ .~.s
The market was given only a short rest be.
fore prices took another downward plunge
widely extending the previous declines. Most
of the active stocks were brought within the
| range Of point losses. Missouri Pacific and
Canadian Pacific dropped A. Great Northern pre-
ferred 8, Union Pacific New York Central, Ches
apeake & Ohio. St. Paul. Brooklyn Transit, the
Metropolitan stocks. Locomotive and Genera
Electric to az, Southern Pacific 29s, United
States Steel 29t, Amalga nated Copper 2aa, Con
! solidatedt Gas ~ and Tennessee Coal rs.
stock quotations, reported ,for The Journal b.
Watson & Co.., brokers', Chamber. of Commerce
| Minneapolis sbsn1 hooa a. .ae>@tr 49,.
| Closing figures are bid t--sso'a~a 80