The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-13
SHARP ADVANCES
AT The OPENING
SPECULATIVE STOCK FAvoRITEs
MAKE EARLY GAINS.
Pennsylvania Is Taken in Very Large
Blocks - Other Railroads Show
strepgth-Room Traders Drop Their
Holdings and Give the Market Set
hack ..=-

New York, March 13.-The stock market today
opened with heavy dealings and sharp advances
was fraction higher in sympathy. Twenty
thousand shares of Pennsylvania were taken at
147h and 147A, compared with 146A on Satur
day. Chesapeake s. Ohio and Norfolk & Wes-
opened up 2ss. New York, Chicago g. st. Louis
27s, the second preferred "a, Cleveland, Cincin-
natl, Chicago s St. Louis q Louisville & Nash
vile N and North Western and Chicago & Alton
point. There were sharp fractional gains, as
well In New York Central, Southern Railway,
Missouri Pacific and Amalagamated Copper.
The over Saturday profits were tempting to the
room traders and they promptly let go their
stocks. These offerings and some pressure
against the junior Pennsylvania stocks forced
prices back sharply. Cleveland, Cincinnati, Chi
Vile & Nashville practically lost their rise and
Canadian. Pacific fell back over point. Some
or the western stocks and specialties became
heavy; Chesapeake & Ohio, Norfolk & Western
and Consolidated Gas fell 1 to ~ below their
previous close. Isolated advances were made in
some instances and before IL o'clock the general
selling was over and the market was rising. st.
Paul led the recovery with q rise of a point.
Lake Erie Western preferred and United States
Express gained 2, Denver & Rio Grande ~
and the preferred, Minneapolis, ST. Paul & Sault
Ste Marie, Texas & Pacific, Atlantic Coast Line
preferred, st. Paul preferred and Car pre-
ferred 1.
st. Paul was carried up 2. and strength then
turned Union Pacific with a gain of 1as: Active
ueuldAu WAS revived also Tor pennsylvania. Plus
burg, Cincinnati. Chicago & St. Louis rose 81
| the preferred 2, New York, Chicago & st. Louis
A., Lackawanna 2A, Lake Erie & Western 21a
Colorado Fuel 2a, United States Express 4, Beet
Sugar and Mexican Central, Wheeling & Lake
Erie first and second preferred, Chicago Great
Western. the preferred B. Iowa Central, Tennes.
see Coal, Sugar, Peoples Gas, Manhattan and
Brooklyn Transit between 1 and 2. Consolidated
Gas rallied 2. Canada Southern fell IL and Fed
eral Mining and Allis- liners preferred 2. The
list otherwise moved narrowly and the market
! was dull and below the best at noon. Bonds
were firm at noon.
| Occasional bursts of activity and a variety OF
uncertain fluctuations became the rule. The hest
itancy reduced the volume Of dealings and II
was only when New York Central Reading. and
Chesapeake u Ohio were bid up aggress1vely
that the market showed any activity. New York
Central got back to 1925 and Reading moved w
| to 99%.
Union Pacific and Colorado Fuel, but their reac
ton of a point did not affect the general market
much. Subsequent large orders for Chesapeake
Ohio. which carried it up to 57A, revived
active demand for the general railroad list ant
the market stiffened sharply st. Paul crossed
1872 again and Union Pacific recovered to neal
lse; 1885,, Numerous specialties displayed increased
activity and there were number Of substantial
additions to the mornings advances in this class
Of stocks. Lackawanna continued upward, touch
| ing S77. Kansas & Texas, International Puml
preferred, Toledo Railway & Light and Woolel
preferred improved IL to IN. Internationa
| Paper. ruled point lower and Dock preferred
"a.
! A rise in New York Central to 1854 held thu
market elsewhere against the realizing sales, bu
with a reaction in that stock Of 1 n prices CAV,
way sharply thruout. st. Paul, Union Pacific an,
| Reading about lost their gains and a number O.
leading stocks were carried good fraction unde
| Saturday. Belated gamers were Kansas & Texa
preferred g. Illinis Central l. and Minneapoli
& st. Louis and st. Louis Southwestern preferred
1. Prices rallied with vigor at the conclusion O
the room profit taking. New York Central ros
| again to 1861. The recovery elsewhere fel
short Of the top level and there was some re
newed selling to take profits, but the closing gen
orally was strong and active.
Stock quotations reported, for The journal b.,
Watson & Co.. brokers', Chamber Of Commerce
! Minneapolis. Closing figures are bid.