, 1892-02-12
SIMPLY OUT OF SIGHT.
Reading Stock Jumps from the
Earth to the Clouds.
Scenes of Furious Excitement
on the Exchange.
An Uproar of Crazy Brokers
from Start to Finish.
Reading Jumps Up.

NEW YORK, Feb. 1.-The stock ex-
change this morning resolved itself prac-
tically into an exchange for Reading
stock only. Over 300, 900 shares OF this
stock were traded in during the first half
hour of business. 1t is doubtful if the
stock exchange aver witnessed such a
scene as took place at the opening of bus
mess. The post where dealers in Read
ing stock generally congregate is in the
Broad street Win OF the board room.
But this morning a mighty crowd of
brokers packed densely together over
flowed the limits of the stock crowd and
were swallowed up in their numbers by
half a dozen other groups. Members had
to go elsewhere if they wished to trade In
special stocks.
Reading stock closed last night at $50.
Later details OF the big Jersey Central
deal by which the company is to control
the Jersey Central and Lehigh valley were
made public. AT the Windsor hotel last
night 60 was bid for stock.
At the drop of Chairman Mitchell's
gavel this morning. announcing the OPEN
ing of business. 200 brokers gathered in
the Reading group and became like
maniacs. Such a hustling, pulling and
excited crowd of men has seldom been
seen. The length of limb and depth of
voice came in good stead this morning.
Stock opened on board at 574. In a few
minutes Ga was touched, an advance of
nine points since Yesterday. and of 80
points since this day last week. The
scene was pandemonium. Wilder shout
ing, struggling and shifting occurred than
in any time OF the panic.
The excitement did not flag through
the dav, and the brokers who had en-
dured the ordeal were exhausted at the
close of business. 1t was a day oftumult
and excitement that appalled, the Oldest
men in the street. Figures alone will give
some idea of the transactions. 1t must
be remembered that on the days of in
tense excitement and activity tens of
thousands of shares are bought and sold
which are never reported 80 as to be iu-
cluded In the official record. In the first
two hours after the opening it is esti.
mated 900, 900 shares were dealt in. That
is a record rarely made for a day and it
has often been the record of a week. The
total reported transactions for the day
amounted to LAP, $40 shares.
Contrary to general expectation, not a
failure was announced, and with the fall
of the hammer OF the chairman at 3
o'clock the biggest day in the history of
the exchange came to an end with con-
fusion and excitement Just as great as at
the opening. No one looking at the
maddened. excited crowd of men Shrek
ing at the top of their voices, would have
supposed them to be business men capa-
BILE of dealing in SIS, 600, 900 worth of
property in thirty minutes. The value of
Reading stock exchanged in value 3d.
900, 900 by the actions of the excited
mob. Transactions were not enormous in
the aggregate, but all individual trades
were on a large scale.
What's bid for 1902" cried a broker,
rushing up to the Reading crowd this
morning.
Run away. little boy" answered an
other. hopping his brow; I'VE are play
ing with blue chips. only. today"
The directors of the Reading, Lehieh
Valley & jersey Central today ratified the
contract for n new deal