Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-11-23

| TIE BIGGEST STOCK TRANSACTIONS EVER CROWDED
| INTO DAY.


INTO DAY.
From the New York Sun To-day.
yesterday was great day In the Stock Ex-
change. The Official record of its transactions
show that over S35, 600 shares OF stock were ex-
changed In the five hours session OF the board.
The actual sales must have been over !, 600, 600
shares No such business was ever done before In
the history Of the New York Stock Exchange or
any other stock exchange in the world. 1t was
all done by about 700 men, who, when they got
through, were unanimously OF the opinion that they
never wanted another days work OF the same
Sort even IL their wages were to be doubled.
Tuesday was big day for business, the brokers
trading in over 900 shares But the current OF
speculation was steadily one way all day. YeSter-
day II was different 1t first struck a barrier In
Its downward course, leaped over II. washed it
away, and poured down with Sullen roar like q
Niagara on bulls and bears alike Bellows OF pain,
howls OF triumph, and shriekS hardly human filled
the vast, somber board room during the first two
hours The floor was packed with a seeshing,
struggling mass OF men. 1t was a confusion that
the most vivid Imagination could not picture. Yet
In those two short hours half million shares of
stock representing hundreds OF millions OF prop
erty changed owners. Ten years ago the same
excitement and speculation would have dropped
into panic. As it was the brokers who now and
then crawled cut OF the dearening Babel simply
shook their heads and said, sit looks ragged. "
Then they rushed into the nearest cafe, and then
Jumped back into the chaotic mass.
The air in and about the Exchange was heavy
with rumors The Granger war was battle that
would end like that between the Kilkenny cats:
the iron trade had practically ceased to exist, and
drawn the coal trade into the grave after IL; the
great railroad kings OF the country had unioaded
and were going short OF their own stocks; money
was going to be so dear that one would have to
pay premium to look at It: and, in fact, one had
but to look into this aggregation or imaginary
evils to see the complete devastation and financial
prOStrat1on OF great country OF 500 900 people.
1t was very sad picture. seen In the mist that
hung over the raging, bowling, ZOO brokers. 1t is
Wall street axiom that the average stock broker
never thinks during business hours He believes
+
prices He apparently does his reasoning after
business hours, and confines 1t to counting the
lambs he has Shorn or can shear, or, II he CANDLES
on his own account to computing how much he
has left OF his own wool His customers as rule,
don't reason much, either, In market like yes
terday mornings. II they hold stocks they always
let go OF them when values melt for an hour as
they did then. There is good reason for believing
that good many must have loosened their grip
yesterday forenoon. They not only let 90 their
grip but fairly threw their pet stocks from their
hands Slender margins that have gradually
steam from window pane The stocks went,
too. 1t was cold, gloomy day for many light
pursed Spectator who had hoped against hope
only to be left without stocks. margin, or credit
Nor did all the brokers escape. A small, quiet
house in Wall street pulled down its blinds
=, But about noon the torrent struck something
time alone can determine There followed back
actlon movement toward higher prices. None Of
fact, 1T was gradually impressed upon the Wall
street mind that no new phase had been developed
III the granger war; tnat the iron trade was likely
to survive for little while, at least, and that
few Goals would be marketed to keep the public
warm. 1t was asserted, and with certain ind!ca-
ton OF probability, that Mr.. Gould, Mr.. Wander
b1lt, Mr.: Sage, Mr. Willard, and few others hav-
Ing funds and following, were buying the market
The Secretary OF the Treasury was, according to
general report, about to open the vaults
OF the government by a call for bonds. The news
went abroad that some Of the officers or the
Granger roads were on their way to this city to
confer with those OF other roads for settlement
OF the war between them. In Short as the Hon.
Russell Sage has so often and wildly described it.
''the clouds have broken, the Sun,s shining, and
we can see the bright blue sky" The picture
above the crazy fnancier changed to one OF more
roSeate hue. The victorious bears rushed mady
to cover. They helped the market amazingly. 1t
was asserted that Charles Osborn and all his con-
tingent had suddenly grown horns, and SO had
MIR. keene ana a good many others whose position
on the, market is considered worth knowing.
without pegs or much gratu1tOuS lying, prices
rolled back along the course In which they had
fallen, and closed much higher all around for the
active list than on Tuesday night
After day OF such remarkable commissions the
street began to argue with itself. Some thought
that after decline OF 10, Is and 20 per cent all
along the line, 1t stood to reason and precedent
tnat lt was about time to buy and look for rise.
The large business OF the railroads, as shown by
the Increase OF their earnings and the business
they have before them, to occupy them during the
winter were dwet upon. The foreign demand for
Texas Pacific and Northern Pacific lands received
some mention. 1t was alleged that Mr. Wander
Dit, as the largest stakeholder in the North
western road and a large stakeholder in the Rock
Island was going to try to settle the Granger war.