The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-06
STEEL TOUCHES A
new HIGH POINT
PREFERRED UNITED STATES
STEEL HIGHER THAN EVER.
Unsuitable Demand Lifts Price to 1921
Before One O'Clock Today-Higher-
Priced Railroads Hold Only Level
Medium and Low-Priced Railroads
Show Improvement.

New York April 6.-Industrial stocks took
prominent place in the opening trading today
and showed some striking advances. There were
running sales Of 5000 shares Of United States
Steel preferred at 10Oh and 10O1A compared
with 98x last night, and the common rose al
extreme "A on the transfer of $4,000 shares
Car made gain Of / u and Locomotive, Lead.
Federal Mining preferred and Brooklyn Transi.
about point. Baltimore s. Ohio rose IN anu
Chesapeake g. Ohio nearly point Thera were
many large fractional gains also among indus
trial stocks.
Buoyant speculation in number Of specialties
and ordinarily active railroads that have been
for some time features Of interest failed at first
to stimulate the recognized standard stocks, and
some Of them actually sold below yesterdays
closing after the effect Of the opening rise wore
of. 1t was not until ST. Paul was taken IN
hand and marked up points that some other
railroad stocks began to show strength. Union
Pacific was rapidly lifted a point. Other gains
were Toledo, st. Louis & Western preferred 81
Atlantic Coast Line rs. American Smelling 2%
Baltimore & Ohio, Illinois Central, Locomotive
and st. Joseph & Grand Island first preferred
2 Central Railroad of New Jersey and Missouri
Pacific TX, and the Atchison stocks, st. Joseph
| & Grand Island second preferred. Wisconsin
preferred, Car preferred, Paper preferred, Loco
motive preferred and General Electric to ~.
International Pump declined g. Nashville, Chat
tanooga & St. Louis 2, United Railway Invest
ment IN and Westinghouse Electric /. The
| metal stocks were bought at steadily improv-
ing prices, United States Steel preferred selling
at 1oo%. or within one point OF its record
Belated advances of point or more were
made by Southern Pacific, Norfolk Western
| Kansas & Texas preferred, Toledo, st. Louis q
Pressed Steel Car preferred and Steel Foun
! dries preferred. st. Josph & Grand Island rose
81 and Federal Mining 8. There was hall
in the buying and reaction running to TX
in Smelling IL in Atlantic Coast Line and
| in Missouri Pacific. Lead and Smelling preferred
The quick subsistence Of offerings at the lowe'
level led to an early recovery United sta ter
Steel preferred showed renewed vigor on thu
| rebound to 1917. Bonds were steady at noon
An almost Unsuitable demand was manifested
for United States Steel preferred, which ad
o'clock. Except for the interest attached t
tho growing strength and Importance Of thu
industrials and specialties as market factors
little developed that attracted attention.
number Of medium and low-priced railroad
stocks improved materially, but the higher
priced leaders held only steady at the moo
level. Federal Mining got up 5, st. Joseph
Grand Island first preferred 5, Locomotive 8
General Electric and Chicago Alton pre-
ferred 2%. Realty IN, Westinghouse Electri
and Toledo, st. Louis 4 Western Q Linsee
preferred and Knickerbocker Ice weakened t
the extent Of point.
A sharp fractional reaction accompanied
drop in New York Central to over point belov
last night. but the dizziness of the market a
press lost 2 and Chicago Terminal preferred
There were advances Of point or more i
Chicago Great western and Iowa Central pre-
ferred. United States Steel preferred held rela
lively firm and rose again to 1925.
Proft-taking affected prices in the final hou
In spite OF the strong advance Of 3 in Atchiso
and 1as in Canadian Pacific. Toledo. St. Loui
& Western preferred gained AZ, Illinois Ger
trail g. Federal Mining Is, United States Rubbe
preferred 3 and Kansas & Texas, Consolidate
Gas and Rubber Goods preferred to ~. Tennet
see Coal was forced back to more than poin
under last night and the general reaction ra
to liberal fraction. number Of specialize
lost point more, and Union Pacific los
it's rise. The closing was very active and i,
regular. -.
Stock quotations reported for The Journal b
Watson & Co.. brokers, Chamber Of Commerce
Minne, polls. Closing figures arc bid.