Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-02-28
In London Prices Of Americans
We're Advanced Having Little
Effect in New York,
UNION PACIFIC GAVE STRENGTH.
Made Good Rise, Then Drive Was
Made Against lt-Bonds
Heavy.

New York. Feb, 2S--London advanced
the prices Of Americans but the opening
in the stock market here did not follow
that leadership throughout. The majority
Of stocks. however were higher and
trading was quieter than yesterday Con-
solidated Gas rose 2, Baltimore a. Ohio
rs and Metropolitan Street Railway a
large fraction There were transfers of
$500 shares Of Southern Pacific at I2s
and 724 compared with u last night,
Minneapolis ST. Paul & saute sto
Marie lost and New York Central a
y, but the latter Immediately rallied TO
above last night
The strength Of Union Pacific stinened
prices elsewhere In sympathy, the local
fractions rising l 10 ~, Consolidated Gas
H. International Power z, ana Pullman
5la A sudden wave Of lito thcn caused
a violent break In prices Union Paciio
was swept 3 points below. last night
New York Central 2#s, Northwestern 2R,
southern Pacilic rs, Illinois central ana
Nashville. Chattanooga ST. Louis =,
81, Pau IA Tennessee Coal 9 and Cana
dian Pacific, ontario & Western, Louis
vile, Reading Colorado Fuel Republic
steel preferred Virginia lmu, National
Lead, Locomotive preferred, Chicago Ter
mnal preferred ana AllsChalmers pre-
ferrcd a point or more Union Paclhc
Immediately reboundcd over points and
St Paul and New York Central a point.
The sudden recovery gave the decline
the appearance OF a bear raid designed to
dslodgc stop-Oss orders, In which IL sue
cccdcd, Prices hardened only moderately
after the first recovery. Amalgamated
Copper rose IN and tho local fractions
sold at top prices. Pullman extended It's
rise to GZ points, Belated selling caused
losses Of point or more IN a number OF
minor railroads and, lnduslrias United
states Reduction sold at 1906. compared
with l00M for the last sale In Noyem-
Der, 1902
Bonds we're heavy at noon
Union Pacific gradually Crept up 10
about 1876 and then halted as did other ac-
tive stocks, owing to q fresh diversion
Of speculative interest into number OF
less active properties Pullman led this
group with q bulge Of 10 points, ana Cen
eral Electric Westinghouse Electric,
Sloss- Sheffield Steel preferred, Tennessee
Coal and Pipe improved from ia to 3
points. Republic steel preferred more
than recovered ITS morning break
fresh drive against Union Pacific and
New York Central commenced at IL
o'clock and they, as well as other active
leaders, were forced down between l and
points.
pullman lost about half It's rise In the
reaction, but aside from New YORK Cen
trail prices did not fall as low on this
drive as IN the morning break, A spirited
rally In the railroads .strengthene The
market Near 2 o'clock leading STOCKS
ran OFF rapidly again. Pennsylvanla
touched the lowest OF the day
Late In the day the liquidation was
carried on on large scale carrying prices
lower than before New York Central
crumbled Az Northwestern 8, ST. Paul
and Southern Pacific 2N Reading, Penn
sylvania, Delaware q Hudson, l.. & NJ
United States Steel preferred and Pacific
Mail to 2k, and most Of the active
stocks a point or more Early strong
stocks fell back 10 below last night
Quick profit taking by shorts caused a
few feyerlsh rallied, but the closing was
active and strong.