The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-12
DEMAND FOR HILL
STOCKS IS LARGE
GREAT NORTHERN PREFERRED
MAKES HEAVY GAINS.
Tone Of Market Is Buoyant - Sharp
Advances at Opening Followed by
Further Upward Progress - Early
Realizing Sales Have Little Effect
Union Pacific Favorite.

New York. Jan. 12.-There were buoyant up
shoots at the opening of the stock market this
morning in the Hill northwesterns and the south
ern iron stocks, and the general list. Gains Of
the principal active stocks ranged from large
fraction to point in numerous cases. Great
Northern preferred jumped Z, Northern Pacific,
Sloss-Shetrleld Steel :'h, Pacific Coast i, Min
neapolis, st. Paul s. Sault Ste. Marie preferred
and Smelling IA, and Tennessee Coal Denver
Il Rio Grande and North American IA. ~.
Profit taking sales and new buying orders
about balanced In a number Of the active stocks
and there was little movement in these after
the opening. The general tendency alternated
for Il time, causing wide fluctuations in some of
the volatile stocks. By II o'clock the trend
upwards was more defined and the market was
Increasing steadilX in breadth and activity.
Among the noteworthy advances We're North
Western preferred 8, Tennessee Coal 6A Vir-
ginia Iron 3A, Colorado Fuel Denver & Rio
Grande and st. Louis Southwestern preferred
2@2A. and Amalgamated Copper, Southern Pa
citic Canadian Pacific and Erie 1@fss.
The weight of realizing sales carried prices
back moderately until steaded by the aggressive
strength of the Eries and some others Erie
z, the first preferred i y, the second pre-
. ferred IL, Reading and, Delaware & Hudson
IN, Southern Railway and Louisville & Nash
vile a point, Chicago & Alton 2h Pacific Coast
| second preferred on and st. Joseph & Grand
| Island first preferred 2. Great Northern pre-
ferred continued It's advance to 1914 points.
Westinghouse Electric fell 2M, General Elec-
trio u and Republic Steel II. ..-.
Tennessee Coal reacted and Sloss- Sheffield
Steel 2. strong bank statement for tomorrow
was assigned as the motive for the activity.
Several of the large banks placed heavy loans
| on call. Bonds were firm at noon. - '-,esr~
| Few stock with pretensions to class or merit
and selling between the sos and COS over
| looked in the heavy demand that broke out
again after - o'clock AS group the Gould
properties displayed the best degree Of strength,
! but there were numerous other stocks of similar
| Importance that also rose strongly. A factor
! that also had much to do with the rise In the
railroad division was sustained demand for
Union Pacific and the Hill stocks. Despite
4 the buoyancy manifested, special stocks yielded
easily Sugar for instance, losing Us, Kansas
City Southern Us and Northwestern l.. North
Pacific improved points, Chicago & Alton
3A. Atlantic Coast Line, Denver s. Rio Grande
and st. Joseph Grand Island first preferred 3,
Missouri Pacific "a, Pacific Mail 21a, st. Louis
Southwestern 2, the preferred 2%, Wheeling &
Lake Erie Ia and Union Pacific and Brooklyn
Transit l. T. .''' a@E
f. .T Speculative. Shifting. ~.
The selection of stocks that could probably
be put higher while afording a screen for the
realizing elsewhere caused a considerable shifting
of speculative interest until at one time or an
other almost every stock of Importance took the
leadership of the market The demand for st
! Paul did not obtain wide proportions until late
in the day, when its gain of 1as was quickly
followed by Amalgamated Copper's fall of 2
QTsetting these was the wiDing oft of the rise
in Union Pacific and Southern Pacific and tho
r reactions Of a point or more in others sud
den drop in the Kansas City Southern stock
Of 3@31a attracted some attention in view O.
the recent reports that control had changed
hands. st. Joseph & Grand Island second pre-
ferred improved 4, Pacific Coast and Locomo
tive preferred 2. Westinghouse Electric recov
erred its early loss and appoint additional. Thir,
Avenue fell H. o. TN-:.f s..-s>.5s ni -
H., 20 Great Animation. ~.
The market developed 2ggrsate 'apirnat ton asai
in tie final hour, aid prominent leading stock
We're rushed up to the top level OF the day !
. good deal of realizing accompanied the, move
ment -' 49,
. l. Stock quotations reported for The Journal b.
Watson u Co., brokers, Chamber Of Commerce
Minneapolis. Closing prices are bid. -