The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-02-12
BEDLAM ON CHANGE.
Reading Monopolized the Day-The Rec
cord of HMslnenx Hr0ka.


cord of Buslnesy Broke.
New YonK, Feb. 1.-THE stock exchange
this morning resolved itself practically into
an exchange fer Reading stock. Over 3OO.-
600 shares Of this stock was traded in dur
ing the FIRST half hour Of business. II 10
doubtful IL the stock exchange over wit
messed such 4 scene as took place ct the
opening Of business. The post where deal.
era in Heading stock generally congregate
is in the Broad street wing Of the board
room, but this morning q mighty crowd of
broker packed densely together over
flowed the limits Of the
stock crowd and swallowed up
in their numbers half dozen other groups.
they wished to trade in their special stocks.
Reading stock closed last night at 58as.
Later details of the big Jersey Central deal,
by which the company is TO control the
Jersey Central and LehiQh Valley, were
made public at tho Windsor hotel last
night. sixty was bid for the stock at the
drop OF Chairman Mitchell's gavel this
morning announcing the opening Of busi-
ness. The 200 brokers gathered in the
Reading group became like mnniacs.
Such hnstling, pulling and excited
crowd Of men has seldom been seen.
good stead this morning. stock opened on
tho board at 571@. In a few minutes 81 was
touched. an advance OF nine points since
yesterday, and Of q points since this day
| last week. Tho scene was pandemonium.
Wilder shouting, struggling and scuftlinR
The excitement did not flag, though
the day and brokers who had en-
dured the ordeal we're exhausted at
the Gloss Of business. Il was day Of
tumult and excits ment that appalled, the
Oldest men in the streets. The figures alone
will give some idea of the transactions. 1t
must be remembered that on days OF in
| tense excitement and activity tens of thou
sands of shares are bought and sold which
are never reported SO as to be included in
the official record. In the first two hours
after opening it is estimated that 100000
shares were dealt in. That Is record
rarely made for day. II has often been
the record for week. Total reported
transactions for the day amounted to
1,442,940.
failure was announced, and with the fall OF
the hammer of the chairman at three
O'Clock the biggest day in the history OF
the exchange came to an end with confusion
and excitement just as great as at the
opening. No one looking at the maddenod,
1 excited crowd of men shrieking at the top
of their voices would have supposed them
to be business men capable of dealing in
$15,OOO,0O0 worth of property in thirty MIN
ntes. The value OF Reading stock was
| changed In value O,OOO by the actions
Of the excited mob. Transactions were
not enormous in the aggregate, but all in-
di. idnal trades were on large scale.
Whats bid for one hundredY" cried a
broker. rushing up to a Reading crowd this
morning. Run away, little boy" answered
another. mopping his brow, 1--WE are play
ing with blue chips only, to-day"
,,rev"t. Morgnn u Co. announced officially
this afternoon that the leases and contrac q
slsneu last night nave now been ratified by
the boards of directors of the Reading, the
New jersey Central and the LehiRh Valley
railroad companies. by which Is effected the
combination of anthracite coal interests.
Samuel Sloan. president of the Delawa a,
Lackawanna q Western, to-day said the
Lackawanna was thoroughly il sympathy
4 with the, e,oombination. Cornelius Vaader-
\ bilt was asked if he would say definitely
whether he was in any way interested in TIE
coal combination according to current re-
Il port. Vanderbilt authorized Depew to say
for him that he is not in any way interested
in the transaction.