The record-union., 1892-02-12
"PLAYING WITH BLUE CHIPS"
LIVELY DAY IN THE NEW YORK
STOCK EXCHANGE.
Over Three Hundred Thousand Shares
of One Stock Changes Hands
in Half an Hour.
Special to the RrcoRn-un1or-

Special to the RECoRD-UNIoN.
NEW YORK, Feb. 1.-THE Stock Ex-
change this morning resolved itself prac-
tically into an exchange for Reading
stock. Over 800, 900 shares of this stock
were traded in during the first half-hour
of business. 1t is doubtful if the Stock
Exchange ever witnessed such a scene
as took place at the opening of business.
The post where dealers in Reading stock
generally congregate is in the Broad
street wing of the board-room, but this
morning the mighty crowd of brokers.
| packed densely together, overflowed the
limits of the stockrooms and swallowed
up IN their numbers half a dozen other
groups. Members had to 90 elsewhere
If they wished to trade in special stocks.
Reading stock closed last night at 55s.
Later details of a 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, and $50 was bid for the stock.
At the drop of Chairman MitchelFs
gavel this morning announcing the OPEN
ing of business, 200 brokers gathered in
the Reading group and became like
maniacs. Such 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 the board at 575. In a
few minutes "a was touched, an advance
OF nine points since yesterday and of %
points since this day last week. The
scene was pandemonium Wilder
shouting, struggling and shifting oc-
Cured than in the time of the panic.
The excitement did not flag through
the day, and brokers who had endured
the ordeal were exhausted at the close of
business. 1t was n day of tumuIt and
excitement that appalled, the Oldest men
IN the street. Figures alone viii give
some idea OF the transactions. ItmuSt be
remembered that on days of intense ex-
element and activity tens of thousands
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 a record
rarely made for day. 1t has often been
the record for a week. The total reported
transactions for the day amounted to
l AZ, $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 sup
pose them to be business men capable of
dealing in SI5,000,0000 worth of property
in thirty minutes The value of
Reading stock exchanged was So
100000 by the actions of the ex-
cited mob. The transactions were not
enormous in the aggregate, but all indi-
vidual trades were on a large scale.
Whats bid for one hundred ~ cried a
broker, rushing up to the Reading crowd
this morning. Run away, little boy,n
answered another, mopping his brow,
1--WE are playing with blue chips only,
to-day"
THE COAL ROADS COMBINATION.
NEW YORK. Feb. H.-Drexel, Morgan
d Co. announced officially this afternoon
that the leases and contracts signed last
night have now been ratified by the
Board of Directors OF the Reading, New
Jersey Central and Lehigh Valley Rail-
way Companies, by which was effected
combination OF the anthracite coal inter
ests. Samuel Sloan, President of the
Delaware, Lackawanna and Western,
said to-day that the Lackawanna was
thoroughly in sympathy with the com
bination. Cornelius Vanderbilt was
asked if he would say definitely whether
he was in any way interested in the coal
roads com bination, according to current
reports. Vanderbilt authorized Depew
to say for him that he was not in any way
interested in the transaction,