The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-29
PRICES CONTINUE
UPWARD TREND.
HEAVY DEALINGS CAUSE Elk
CITED ADVANCES.
Sensational Buying in Coppers the
Feature Of the Morning Pa
cifc Makes a New Record Realiz-
ing Does Not Stem Upward Progress
of Market.

New York. Dec 29.-There were excited and
buoyant advances all thru the list on very heavy
opening dealings on the stock market today.
Five thousand shares of Anaconda sold at 273
and 275, as against 26S last night, and subse-
quently sold at 27S. There simultaneous
sales OF 10000 shares of United States Steel
at 40A and 41h, compared with 4OA last night
and Of 5000 shares of Union Pacific at 149A
and 149h compared with 1885 last night. The
opening sales Of Amalgamated Copper were Of
$500 shares at 10TH and 1851, compared with
lO6 last night. Smelling rose 2H, Great North
ern preferred and Virginia Carolina Chemical e.
New York Central Ia, Pennsylvania and Sugar
N and Reading, Brooklyn Transit, st. Paul,
Baltimore & Ohio and Hide Leather preferred
a point or more. Large fractional gains were
the rule in all the principal active stocks. y.
Buyers were overwhelmed by the amount of
stock offered at the opening price, and there
was considerable reaction in the favZed
specialties despite the show Of strength in a
number of other less active stocks. The sales
represented in part realizing and the desire Of
holders to part with their stock on advantage
GUS terms, rather than contend with the ext
genc1es OF the days money market. Aside
from reaction of point in New York Cen
tral, the setback In the railroads was NOT
large and few managed to get considerably
higher than at the opening, notably Missouri
Pacific and Reading. Increased offers to sell
followed the making Of call loans at 60 and rs
per cent, but the pressure was spasmodic and
the market was developing a steadier under.
tone at IL O'Clock. Anaconda gave way and
nAoASd1ducu SOpp6S auu OMSALAuk Ia AEOu
| the best. Corn products sold rs, and the pre-
ferred United States Rubber, Atlantic Coast
Line and National Railroad of Mexico preferred
1 to IN below yesterdays closing.
With the money rate relaxing from rs to
80 per cent stocks were taken in hand again
and pushed up to top price. Union Pacific was
lifted to record figure at 1901. Anaconda
rose IL. Hooking Valley 9, Smelling BIS. Bis
cihc, Locomotive and Cotton Oil 2, Canadian
Pacific, Denver & Rio Grande preferred and
Hooking Valley preferred IN. Bonds were
steady at noon.
| Blocks Of many thousands Of shares were
| swallowed up offered and prices
| went higher wherever there was any compe
| tition for stock. The most sensational buying
was in the coppers,- United States Steel ant
| Union Pacific stocks. Up to l O'Clock, Ana
| conda showed rise Of 10 points, Great North
ern preferred An, Northern Pacific 4, Delaware
& Hudson Amalgamated Copper, Minneapolis
st. Paul & Sault Ste Maries 8, the preferred
in st. Paul E. and Steel Foundries preferred
21a. s...
Operations on the long side of the market wer
| conducted with increasing confidence as cal
| money receded to 40 per cent. Low-pr1ced rail
roads were heavily, bought. especially the har
| and soft-coa1 stocks. The price Of Anacond
| touched 291A and there was a further rise i
Amalgamated Copper to 1898. Other gains wer
| Great Northern preferred g. Locomotive and Unit
ed States Realty 8, Canadian Pacific and Chesa
| peake & Ohio 2, Ontario & Western III an
| Erie and Atchison 1@1A.
| Stock quotations reported for The Journal b.
Watson & Co., brokers, Chamber of Commerce
Minneapolis: Closing prices are bid.