Los Angeles daily herald., 1886-12-05
THE STOCK MARKET.
An Upward Movement
Causes AstOnishment.
STOCKS HOLD THEIR OWN.
Scenes of Excitement Around the
Brokers' Offices-Everybody
Wants to Invest.

SAN FRANCIsCo, December AT to.
days session of the Stock Exchange the
"bulls" succeeded in completely captur.
ing the market and sharp and heavy
advance took place all long the line. For
Saturday morning session the transac.
tions were unusually large. Consoli.
dated California and Virginia, which
each closed at noon yesterday on the
San Francisco board at 500 and
at the afternoon informal session of the
Pacific Board at S36, opened this morn
at S53, and in a few minutes jumped,
even under heavy sales, to $55, closing
at S54. so. Best & Belcher attracted less
attention, but opened at $25, So bet
ter than yesterday, and closed at
S24. Gould and Curry was one of .the
favorites this morning, opening under
big sales at $l3, being So. 10 better than
Yesterdays close. 1t steadily advanced
to Sl4 and closed at $l325. In Ophir
transactions for single session were also
heavy. 1t opened at $2S, which were
the closing figures Of last night, then
jumped to $50, and then with a few
small set-backs, climbed to $33, to again
90 back to $32, but only to recover the
loss and 90 to $35. Immense cheering
greeted the offer. 1t finally closed at
$34. so, being an advance of $3.50 over
last night. All the other favorite Com
stocks were equally strongly led. The
bears, notwithstanding every effort,
seemed powerless to arrest the up 60.
Potosi closed at $l4.22, which was an
advance of 1915 over yesterday. Saw.
age at $3.50 showed an advance of
So so. Sierra Nevada closed at SIG, be-
ing $3.50 better than yesterday and
Yello Jacket climbed steadily from SO
to Sl4.5O, at which it closed strong.
Larger and more excited crowds gather
ed to-day at the stock boards than at any
time during the present stock deal. The
San Francisco Board held only one ses-
sion. The Pacific Board held two ses.
sions. At the San Francisco Board the
attendance was larger than yesterday.
Persons who were known to have suffer.
ed by failures yesterday and earlier in
the week, were in the Board gambling
on the same line to recover losses. The
session opened at $3.50 A NJ, and was not
over until ll:3O. When the gong was
rung and the doors were opened to the
general public there was rush for the
interior. Clerks, young men about town,
and spectators gave orders or stood Ey
watching the proceedings. The gallery
contained a larger supply of spectators
than at the morning session,
yesterday. At the session of the Pacific
Board the scene was more striking.
Hundreds of seemingly poor women
and hundreds of men of scanty means
werc cengregated there. As was gener-
ally predicted, stocks took another sky
rocket movement upward and reached a
higher figure than has been attained in
the past seven years. The result OF this
was that men and women, who in the
past has been so painfully cinched by
dabbling in stocks that they registered a
vow never to invest again, recOnsidered
their resolution and decided 10 try con-
clusions with Dame Fortune again. How
ever, when they went to their brokers,
they found their designs frustrated, for
all the responsible brokers in the city
declined to accept any more outside bus
siness until the late financial wrecks had
been cleared away. The failures OF the
past few days did not prevent the specu'
lating public from doing business.
and throughout the fore noon people of all
classes were rushing around with sacks
of coin in their hands trying to secure
satisfactory Investments. There were
several spectators about tine boards to.
day endeavoring to buy the accounts OF
creditors against the wrecked firms, but
they met with little success. One Incl.
dent in connection with the failure OF
Kenny & Dyer to. day will Indicate how
strong the mania for speculation has
taken hold of some people. A promi'
nent citizen, on hearing OF the suspen'
sion, expressed himself as follows:
"Hang it! l want to find good,
active niger to kick me over the county
line for my idiocy. Three days ago |
cleaned up small fortune through this
firm, but concluded to let the money
stay in their safe, as l intended to in.
vest some of it to-day. Like measly
mud-hen l left my stake, and now l get
nicely left. Serves me right. anyhow.