The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-17
MERGER STOCKS
AT NEW LEVEL
GREAT NORTHERN PREFERRED
JUMPS SIX POINTS.
Union Pacific Also in Large Demand
Industrials and Specialties Have an
Inning, Also Hitherto Neglected
Stocks-Wisconsin Central Has An
other Day Of Strength-omaha Also
Strong.

New York, Feb. 1.-THE irregular opening
changes in the stock market today showed the
gains mostly among the industrials and speclal-
ties and the losses among the railroads. Peoria
Eastern rose ~, Sloss-Sheffeld Steel and
Wisconsin Central preferred about point and
Metropolitan Street Railway and Locomotive
large fraction.
The recent preponderance of trading in low
priced and heretofore neglected stocks was fur-
Their shown. Prominent stocks participated only
slightly In the rise aside from the low-prlced
coalers. Reading was lifted n and Erie and the
second preferred l.. Ontario & Western touched
a record figure at 51%. Among the specialties
United States Rubber led of with rise Of
sA. the preferred ~ and Alis. Chalmers pre- pre-
IN to "a and Chicago. St. Paul, Minneapolis &
Omaha, Colorado Fuel, Lead. Pressed Steel Car,
Republic Steel preferred, Anis- Chalmers and the
Federal Mining stocks l to 1% Active stocks
in the transcontinental group, Amalgamated Cop
per and several others were wiped out. Reading
fell back point.
heavy demand for Union Pacific rallied the
market. The activity in the specialties died
out and they were inclined to react. Union Pa.
cifc touched 1851, while Northern Securities
was rising to new level on the curb and Great
Northern preferred jumped 6. Other advances
were Chicago & Eastern Illinois /. Fedora!
Mining and Rubber Goods and Lead preferred
over 2. There were declines in pere Maraue st.
Louis preferred 3 and Linseed preferred IN
Bonds were steady at noon.
Isolated points Of strength cropped out during
the day, but the general market was motionless.
Consolidated Gas lacked support and went OF
points. when pressure commenced. Pittsburg
Cincinnati, Chicago & st. Louis, Locomotive and
Virginia Carolina Chemical preferred moved up 6
point. .-.-,I
! The stock market backed and filed in narrow
manner until late in the day, when the better
known stocks were depressed sharply. Sugar
sagged to 148A and other leaders with but few
exceptions sold below yesterdays closing. New
Haven gained IN, and Nashville, Chattanooga
St. Louis IL, while Hide & Leather preferred
and Grass Irvine lost a point each.
There wos renewed demand for Union Pacific
up to 1851 with a moderate response in the gen
eral market. Great Northern preferred rose al
extreme 10 points. The Metropolitan stocks
made gains of or more, did Chicago Grea
Western, Enameling preferred and Smelling pre-
gained more than and Chicago Great Western
preferred and Smelling more than e. Their
were declines of 1 in North Western, Kansas Cit!
Southern, Duluth. South Shore & ATLANTIC pre-
ferred and 1 " in Pacific; Coast. Standard OIL Of
the curb sold down 10 points on light offerings
| When Union Pacific reacted prices slipped bacl
| again. The closing was dull and heavy.
Stock quotations reported for The Journal b!
Watson & Co., brokers, Chamber Of Commerce
Minneapolis. Closing figures are bid.