The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-26
READING IS AGAIN
MARKET LEADER
FLUCTUATIONS OF BIG ooALER
ARE A GUIDING INFLUENCE.
Market Opens with Prices Up and
Large Buying Orders Coming In-At-
tack on Reading Causes Setback, but
It Proves Only Temporary.

New York, Jan. 26.-Prices started upwards
at the opening of the stock market today, and
there were very large buying orders in all the
leading speculative favorites. Anaconda jumped
points Gains ran to about point in Read-
Ing. Atlantic Coast Line, Texas Pacific,
Brooklyn Transit and Colorado Fuel, and large
fraction in Union Pacific, the subsidiary PENN
sylvania stocks, St. Paul, Amalgamated Copper
and Hide Leather preferred.
The market gave good demonstration OF
strength up to about 10:30 when a vigorous
from the best, and caused general selling OF
other stocks Prior to the decline opening gains
had been extended in all directions and num-
Der of stocks in which there is unity OF inter
in International Power; az in Consolidated
Cas- 2h in Colorado Fuel; 2 in Lead and At
lantic Coast Line, and to IN In Sloss Shet-
field Steel, Locomotive, Smelling, Norfolk "
and Northern Pacific. All Of these gains were
reduced. When the market wealNned Central
Railroad of New Jersey fell three points.
The whole market sold off when Reading was
forced back 81 from the best, to 1b1A and
gains were generally wiped out. The market
then turned strong and animated. Ontario d
st. Paul, Norfolk 3 Western and Amalgamated
Copper about u, Union Pacific IN, a4d Erie,
Denver & Rio Grande, United States Steel pre-
ferred, Metropolitan Street Railway and Sugar
III, and American Agricultural Chemical pre-
ferred, q. Reading rallied point but yielded
again, and the advance elsewhere was checked
Bonds were firm at noon.
Speculation quieted down good deal In the
early afternoon, and changes either way In the
representative stocks were not very numerous
Or important. The market was somewhat low
er all around, outside Of a handful Of minor
stocks that advanced materially. New York
Dock gained 8, Hooking Valley 4, and Ameri-
can Express points. s., j. y, I. :. .a57es &.
Bull operators limited their efforts to COM
paratively few stocks, the general mass OF
stocks proving inert and unresponsive to the
buoyancy shown by numerous speoialhes- In
ternational Power jumped 18, American Ex-
press, SA. Hooking Coal TX, Locomotive 2ss,
Pacific Coast q and Great Northern PREFERRED
Atchiscn and United States Express 1 to IN.
Closing Heavy.
The recovery in Reading followed by
some hardening again elsewhere, but the de-
mand soon became languid again. Ontario &
Western got up 8, United States Express 21a,
and Great Northern preferred ~. There was
a drop in Delaware & Hudson Of 81. American
Snuff preferred and Linseed preferred 8, Inter
national Pump ia, and North Western, Lake
Erie e. Western, Hide & Leather preferred and
Westinghouse Electric L. Southern Railway
and Wheeling & Lake Erie were pushed up 1
| in the late dealings, but the tendency else
| where was downward and the closing was
! rather heavy. ..-:
Close W heat. May. soAe; July, s9he; Sep
5O%c; July. 50%c; September. 511sc:
| Stock quotations reported for The Journal by
| Watson & Co., brokers, Chamber Of Commerce
| Minneapolis, Closing figures bid S'---