The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-18
STEEL MAKES A
NEW HIGH RECORD
NORTHERN SECURITIES sLUMPS
THRU UNEAsINEss OF HOLDERS.
st. Paul and Union Pacific Experience
an EARLY Break-Recen Buoyancy in
specialties suffers-T Twin City Rapid
Transit Feels the Effects Of the De-
1,raasinn

New York, April 1s.-Gains were more numer-
GUS than losses in the opening transactions, but
some prominent speculative stocks were among
those which declined. Union Pacific illinois
Central and Smelling each fell IN. Chicago
Terminal preferred lost point. Atlantic Coast
Line made an upward move Of points. United
States Steel preferred opened wide. selling at
lO4@1O4b, the latter record price.
Holders Of stock became uneasy over the acute
weakness Of Northern Securities. which slumped
to 1855 on the curb, and threw over their pc
longings. St. Paul and Union Pacific broke IN
a precipitate manner, the former 21s and the
latter 2% The effect on the general railroad
list was moderate, but recent buoyant special
ties suffered keenly. Smelling and Hooking VAL
ley declined 2, Illinois Central and Delaware &
Hudson LIZ and the United States Steel stocks,
Tennessee Coal. Amalgamated Copper, Locomo-
tive Consolidated Gas, Twin City Rapid Tran
SIT Canadian Pacific, Atchison and New York
rise of and "a additional. Nervous rallies
followed, extending to i and 2 points respect
lively in Union Pacific and st. Paul, but the
market was back to near the lowest at II
O. clock. Peoples Gas was marked up rs de-
spite the prevailing weakness and Virginia
Carolina Chemical gained IN.
There some improvement In the tone OF
the market, but the demand died out ION the ad-
vances and left the market soft. Colorado Fuel,
Virginia Carolina Chemical and Vulcan Detin-
ming preferred rose 2, United States Reduction
III and North American L. Atlantic Coast Line
got above 100. Losses included American Elk.
press 3. Consolidated Gas 81, Illinois, Central
2A, Pacific Mail 2, Pipe preferred LIZ and
Missouri Pacific, Erie, Wisconsin Central pre-
ferred Federal Mining preferred, Distillers' Sc
curities United States Rubber preferred Brook
Ign Union Gas, Westinghouse Electric and Knick
erbocker Ice to "a. Union Pacific and United
States Steel preferred fell lower than before and
the market was weak at noon. Bonds were
steady at noon. u.s.
But few stocks escaped losses Of a point OF
| more during the selling Of the forenoon, anc
in some cases that range was largely ex
| ceeded. Sentiment was unfavorably affected bJ
| the steady unloading of st. Paul, Union Pacific
| the United States Steel and other metal stocks
| In the early afternoon the market picked W
sharply. Quite number Of stocks recovered {
| point, but the demand slackened on the up
| turn. - Amalgamated Copper rose good frac
! ton over last night. -.
There was another selling movement In tn
| final hour Outside the weak leaders or tn
decline. there was some resistance about thu
previous low level. But the weight Of offering
| broke thru to the lowest Of the day.
Much of the mornings 1rregularity and fever
ishness existed during the afternoon. Afte
pretty substantial recovery the market wa
the day We're made. North Western broke3 an,
| st. Paul and Union Pacific were again promi
| nent in the late trading. A demand for Leat
carried it to near 49, and, there was goot
ton to the general list about 2 pm. ~.
St.. Paul fell 3k, Union Pacific 49,, sloss
| Sheffield Steel T. Delaware & Hudson 81, Hi
nois Central 81, Locomotive 3 and Canada,
| Chicago & St. Louis, New York Central, Pullman
and Tennessee Coal 2 or more. The close wa
| very active and weak. . r-.. 1. &c.
| Stock quotations reported for The Journal b
! Watson & Co.. brokers'. Chamber Of Commerce
Minneapolis. Closing figures are bid -