The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-05
LEAD ADV ANCES
TO A new LEVEL
BULLS HAVE LIVELY TIME AS
FOREIGN PRESSURE RELAXED.
specialties Again Conspicuous. Minor
Stocks Moving wildly Dividend-
Paying Railroads Move Upward
Strongly and Impart Firmness to the
General Market Presidents Mes
sage Helps Tone.

New York, Dec. with the rally in Russian
bonds abroad the market was free from pressure
here on that account and prices rebounded
sharply with few striking exceptions. The
specialties continued most conspicuous, but rail-
road stocks shared in the general strength.
Smeltlng moved up points, National Lead and
Locone tive a. and Virginia Carolina Chemical
u, Canadian Pacific IN, Union Pacific, Dis
t1llers Securities and Cotton Oil l IA and Ameri-
can Ice, Republic Steel, Pacific Mail, Brooklyn
Transit. United States Pipe. Kansas City South
ern preferred and Rock Island point. There
were large fractional gains in many OF the
prominent railway stocks and industrials as well.
Whlie there was a great deal of independent
actlon IN STOCKS, prices had common drift sand
there were many Important advances established.
These We're largest in the constantly expanding
list OF obscure specialtes that attracting
speculative attention from day to day, but the
half dozen more of standard dividend pay ing
railroad stocks that We're carried up between
ana points presented good foundation to the
movement Profit taking sales were absorbed
s patf without disturbing prices much. unSn
Paclhc got up 2 points, Canadian Pacific Ia,
Peoria & Eastern BIZ, New York Chicago &
st. =. LOUIS sIhso 2 and nd there was single sale Of
the industrials National Biscuit Lead, Sloss-
Sheffield Steel and Pacific Mail rose 2 to PA and
brooklyn Transit, New York, Chicago & st.
Louis first preferred fell 3.
Minor railroad and industrial stocks contin-
ued to move wildly, but the most prominent
stocks We're little changed except for Louisville
q Nashville with a gain of B, American Car
IN, Missouri Pacific Y and other southwesterns
and Atlantic Coast Line about a point. Lead
shot upward 6A to new record level. Kama
VIVA Michigan gained 4. Sloss- Sheffield Steel
a ana St. Louis San Francisco second preferred
o12, ROCK island preferred and Republic Steel
preferred 2h, Iowa Central preferred and Den
YER & Rio Grande 2 the preferred and Bruins.
WICK l ~: New York Air, Brake sold at de-
Bonds were steady at noon
Signs OF yielding We're not sufficiently pro-
nounced during the noon hour to affect sentiment
fh<N PrSn y1r,, a.
other stocks went strongly upwards. The whole
market received sharp impetus by the publica-
ton OF the Presidents message. The more vio-
lent bull demonstrations occurred in special
groups, the Vanderbilts, for instance. New
York, Chicago & st. Louis led this division with
a jump OF IN, followed by Cleveland, Cincin-
natl, Chicago & st. Louis with on, Lake Erie
& Western Az and New York Central g. Other
improvements reached We're Az in Sloss Sheffield
steel, 3A @3E In Allis Chalmers stocks, ~ in
United States Pipe and General Electric in
st. Paul and Northern Pacific and point in
Baitimore q Ohio the United States Steel
stocks and Amalgamated 4v~
The publication of the presidents message
was the occasion Of very large closing of con-
In the expectatio that the recommendations for
liking railroad rates and controlling corpora lions
would induce selling Of stocks. The prevailing
spirit Of the speculation added to the Difficult:
ties OF the shorts. Gains were extended over
the lo'cio level but a setback took place
when the call money rate ran up again. Gains
| were wiped out In Northern Pacific, Pacific
Mall and Virginia Carolina Chemical. Michigan
! Central sold at decline OF 3 and Chicago, st
Paul, Minneapolis & Omaha Of ~, contrary te
the tendency of others In the Vanderbilt group
Westinghouse Electric lost 3M -,
Inc market showed some slight unsettlemen1
IN the late dealings, with the rise in call-oar
| rates to Is per cent. Some stocks continued
to advance, however. The rise in New York
Chicago & st. Louis reached So, St. Louis &
San Francisco second preferred g. Allis- Chalmers
preferred 4, Tennessee Coal 81 and St. Pau
~. Hooking Valley sold off sI on the declara
ton OF only the regular dividend. Profit taking
In the late dealings helped to some reaction,
running to a point tor more Iii some cases III,
market continued slightly irregular, but gener
ally strong to the closing : 80. p -
Stock quota lions reported for The Journal b,
watson 4 Co., brokers, Chamber of Commerce
Minneapolis. Closing figures are bid Is