Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-01-02
FIRST PRICES Of
THE YEAR HIGHER
Anaconda Went to 298 and Then
Reacted Some Eight
Points.
HEAVY SELLING AFTER RISE.
Some Traces Of Heavlne.s--Bull Dem.
onstration Limited TO Special
Stocks or Groups.

New York. Jan. First prices Of the
year at the stock exchange were higher
than Saturdays closing and special stocks
showed the Wide advances at widely vary
ing quotations ON running sales OF large
amounts. One thousand shares Of Ana
conda sold at 29s and 291 with sales fol-
lowing at 80 compared with 2ss on Satur.
day. There were 5000 shares OF Locomo-
tive al u d, compared with ,57s on Sat
urday and tho preferred was UP lis. First
sales OF L :. Steel were OF 5000 shares
AZ Bss and 1928 compared with 1914 on
SATURDAY. Four thousand shares OF q B..
steel preferred sold at lJl and IVA COM
pared with l1e9s on Saturday. A purchss SO
OF J'Wp shares OF Amalgamated Copper
was made az llll5 and III compared with
llo'g on saturday. Minneapolis. st. Paul
and 800 81. Marie rose Va, smelling rs,
Reading Ia, Pennsylvania ]: and Cana
dian Pacific and Norfolk x Western about
a point Metropolitan Securities showed
a loss OF Il and New York Central was
down X. The changes in the general list
was small as d rule.
Heavy selling winch followed tho OPEN
ine rise was most acutely felt in the
stocks that had ben stronger az the start.
Inc advance IN these was not alone WHIP
ed out. but some OF them were driven
materially below last weeks closing The
losses were Third Avenue 3, Northwest
ern 2, Amalgamated ~. New York Cen-
trhl IN and ~. Paul, Union Pacific Kan
sas * Texas preferred ard Smelling about
point. Anaconda reacted points to 300
Minneapolis, St Paul e st. Mare pre-.
ierred and Locomotive IN, There were a
few helatcd advances while the selling
was IN progress. but the market made no
enectual resistance to pressure until
Reading began to rise buoyantly. After
Reading was pushed up . points, other
active stocks recovered a good portion OF
their losses and there were some gains
CAN money was loaned at 50 per cent but
the market only waNered q triffe when the
rate was announced
Reading reacted a point and the market
showed some hesitation, but with the
Yielding on money rate to 81 per cent
points OF strength developed. Reading rose
2 J.. & N. ~ and Erie and o. & w,
n. Y. G. and Peoples Gas !. Amongst
the Speclaltles Eastman Kodak gained
sis, ., s. Rubber second preferred 5ig,
Texas & Pacific Land Trust. Knlcker-
booker Ice Alls-Chalmers preferred and
Virginia Carolina Chemical I 10 ~. There
were losses In st. Joe and Grand Island
first preferred of 29., Hooking Valley ~.
Beet sugar IL. Metropolitan stret Rail
way and Sugar ~ and Erie second pre-
ferred G. g, & ST, L.. Wisconsin Gem
trial. Chicago Terminal, Pullman and Ma
tlpudl tlStull L.
Bonds were irregular.
Traces OF heaviness showed occasional
~ but the market generally was sup
ported and the stocks In which sharp
losses occurred were not factors Most OF
the buying centered In Reading which
went up to near l43. Central OF New Jer-
sey moved up 2i2. X. g. Southern NJ. The
preferred 2 and Wabash preferred st,
Louis Southwestern preferred and L. :,
Rubber Grst preferred /. Tennessee Coal
fell OF 2ia, St Louis Southwestern III and
Toledo, St Louis Western ~
Bull demonstrations were limited to
special stocks OK groups, the genera
movement OF prices being uncertain. Some
activity and strength developed In tho
Pennsylvania group, Atchlson, Missouri
Pacific Peoples Gas. but their rise mere
ly preceded a heavy selling movement,
which cut into the days gains largely.
Reading sold up Sf,. American Ice Q,
Atchison, 29s, Peoples Gas 2 Norfolk g.
Western ia and 3, & o.. c. & o. and
Missouri Pacific |. Lackawanna, after
long neglect opened Is points higher,
Northern Pacific, Sugar and Corn Prod
ucts preferred yielding 2 to 2ls and Colo
RADIO & Southern second preferred la. An
aconda sold point under Saturdays clos
ing.