The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-25

New York, May 25.-Welr distributed buying
orders carried opening prices in the stock mar
ket upward today turnout the list. Gains IN
some of the speculative favorites were wide.
two blocks. Transfers of Reading were in
blocks of 1000 to 5000 shares at an advance
of LIS points. Great Northern preferred rose
81, Anaconda 2, Northern Pacific, Delaware &
Hudson, Wabash preferred, American Locomo-
tive, American Smelling and United States Re.
duction preferred IN @1h, and Amalgamated
Copper, Tennessee Coal, Colorado Fuel and Penn
sylvania improved large fractions. Chicago, st.
Paul Minneapolis & Omaha sold at decline
of AN points. -..>
+ Continued buying Of Reading large scale
revived bullish confidence to a large degree ana
there was a heavy absorption Of the coalefs.
grain carriers and metal stocks. The movement
in Reading overshadowed everything else IN
point of Importance, but the rapidly OF It's
rise induced selling Of other stocks. The general
list got materially higher Reading sold at l4l y:
gain of 3d. but reacted to below al at II
o'clock. Advances in other stocks were also
shaded. and there was perceptible slacken1ng
in demand. . -" g..
Among the important gains noted were: Pitts
burg, Cincinnati, Chicago & St. Louis preferred
Sh, Wabash preferred and Locomotive 2, Kan
| sas s. Texas preferred tx and the common Erie
| and the second preferred, Ontario Western. st.
Paul. New York Central Union Pacific, Southern
Pacific, Atlantic Coast Line, Republic Steel and
Colorado Fuel gained to Us.
|
reached 2 points in Reading. Prices then start
ed upwards again, selected stocks making spec
tacular advances, but the general run OF stocks
did not get higher than before. Great Northern
| preferred rose 5A points, Northern Pacific ~,
Wabash preferred ~. Colorado Fuel and Allan.
| tic Coast Line 2, Louisville s. Nashville and
American Smelling TX and Canadian Pacific
~. Central Railroad Of New Jersey sold at
a decline Of 1h. At noon trading was dull and
| prices allowed fractional recessions. There was
| heavy buying of Wabash debenture bonds
| Bonds generally were steady at noon.
Restricted dealings discouraged any general
uplifting Of prices, but there were few stocks
which were successfully put higher. Bear infu
ences did not extend beyond holding the market
| steady in face Of profit taking In Reading anc
other active railroads and other specialties Gren
Northern preferred improved 6% points, Reading
second preferred 3 and Smelling preferred ".
All the snap and activity which characterized
| the big operations of the forenoon went out Of
the market and the speculation became desultory
and featureless.
There were belated advances in stocks whicl
had been laggard in the early trading, ant
Reading recovered to al u, the best of the day
Active realizing went on at other points an
pulled prices back again. New York Contra
rose ~ and Pennsylvania 1%, and both re
acted nearly a point Illinois Central game
~, Nashville, Chattanooga & st. Louis ~
North Western and Western Maryland IN, Uni,
ed States Steel Band United States realty raj
lied to 2 over last night. Trading became du
again with the drop in prices and the closin
was easy. go. "-.H a.
Stock quotations reported for The Journal b
Watson & Co., brokers, Chamber Of Commerce
| Minneapolis. Closing prices are bid. g..