Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1879-11-14
EXCITEMENT ON CHANGE.
Almost Unprecedentsa Activity In the
Stock Market,

Almost Unprecedented Activity In thu
Stock Market.
New York, Nov. 12.-The excitement on
the exchange to-day was unprecedented,
even in that body, and prices that vent up
rapidly and to very high figures, varying
60 rapidly that they taxed the utmost capa-
city of the stock telegraph Instruments to
report them, and orders poured in go con-
%tinuously from all parts of the country that
brokers In many instances evinced consid.
cradle difficulty 10 executing them. Nearly
the entire list participated in the activity
and many stocks heretofore quiet became
prominent in dealings. The large and in.
creasing traffic of the railroads consequent
upon the general revival of business
throughout the country of course had much
to do with the condition Of the affairs to-
day, but in a number of instances there
we're special causes at work to put up this
or that etock.
The greatest advance was in Nashville,
Chattanooga and St. Louis, which sold up
from 69i to IS. closing 794 on the state
ment that the president Of the company had
quietly bought q controlling interest in the
Chattanooga to Atlanta, and is regarded as
sAO my W AhO oOusAClu IillEO0O 6yeucWs
One of the principal features of the market
was the large transactions in Erie, chiefly
in common stock, which rose q per cent,
the preferred advancing 6 per cent. The
upward movement in these stocks,
also in the bonds, is based upon the large
and increasing traffic Of the company and
Of property. The earnings of October were
SCOn nm opooton than tkoco F ILL., 49,,
month last year, which was one of the heav-
lest months for business in the history ofthe
road. Again, the Erie company owns a
large amount of Cleveland, Columbus, Gin
cinnati and indianapolis railroad stock,
which has recently advanced greatly in
value and now represents assets Of over
81, 0OO. 900.
The advance in granger and coal shares
continued and they rose l to 24 per cent,
the coal stocks being favorably affected by
the announcement Of a general advance Of
50 cents in the price of coal, to take effect
December l. The telegraph shares, which
have been inactive for some time, took a
sudden upward turn, Western Union ad.
vancing A per cent, and Atlantic and Pa
cltic 81 per cent, with a subsequent reaction
of Il per cent, respectively. The rise was
w NAO SuVA LAOu6 OASlACoc y Al
Western Union and its leased lines, grow.
ing out of the great activity Of trade in
markets and greatly increased speculation
in stocks and grain. In the miscellaneous
share list Chesapeake and Ohio first pre-.
ferred showed the most improvement. ad.
vancing 81 per cent to 20; purchases Of
stock being induced by the report that the
company had contracted 10 extend its south
ern line from Huntington to Lexington, KY
and also for a re-extension 10 Cincinnati.
In final dealings y buoyant tone prevailed
and the market closed al al advance for the
day ranging from l 10 10 per cent. St.
Paul and Sioux City common closed at 42155
and the preferred at 70.
Pullman palace car stock sold up to los
and 100 against 100 a few days since. The
rise is due to reports that the cars of the
company are to be used by the entire south
western system of roads and by lines west
Of ChicagO. 10 addition To the influence
mentioned above. a further impetus was
given the advancing market by reports that
$4,000 900 more bonds will soon be pur-
chased for the government sinking fund,
These reports were probably based upnn
the fact that for the first ten days of No,
vember the custom and internal revenue
receipts have aggregated over 81, 900, 900 q
day on an average aud the receipts from
customs alone for the first nine days of this
month averaged about 1925 600 a day
This will result in a large surplus. over fol-
the current month and its prospective con-
tinuatlon. which may be looked upon as 80
sured. will enable the secretary of the treas,
ury to purchase more 6 per cent. to9ds ear
y next month. In the meantime, howev-
er. at the rate stocks of all speculative des-
cription are going up. It will not take long
TO use up the surplus 500 0 900 throw
into the market by the recent purchases
Substantial brokers are requiring substan-
tial margins and some have lost account,
because of refusal to carry stocks on 5 pei
cent. deposits.
The Central Pacific paid into the treasury
to-day at Washington $4,000 on account
OF the sinking fund. The enormou mum
Der Of ga 600 shares of stock were sold to
aau M