New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-05
TRADE QUICKENED AT ONCE.
WILD SCENE AT THE OPENING OF THE
STOCK EXCHANGE.
THE MARKET SHOWS THE RESULT OF THE SOUND
MONEY TRIUMPH-GOLD COMES FORTH FROM
ITS HIDING -PIACEs-THE sUB-TREAsURY
REFUSES TO EXCHANGE LEGAL
TENDERS FOR TIE YEI~
LOW METAL

There was as much JOY yesterday IN the finan-
cial community over the election OF Mckinley and
Hobart and the triumph Of sound money as there
was anywhere In the land 1t reflected not
only in the enthusiasm OF bankers brokers and
others. but also In an astonishing expansion in
transactions and a great enhancement in values.
In a word, by the verdict OF the people on Tues
day confidence In the future OF the country was
restored and doubt and fear gave way to COM
plete fatn
The scenes in Wall Street were most remarka-
BILE. The financial district seemed to be Mecca
for sIghtseers. Long before business hours the
streets adjacent to the Stock Exchange were
filled with people. They were not disappointed
in the expectation that they would be repaid FOR
their visit to the money centre. Not In many
years before had there been such sights to see
there. and probably many years more Will elapse
before the sights repeated.
BY o'clock the stock brokers offices were filed
with customers. Many of them were Investors
and Spectators who had not been In the Street
for months. and some Of them not for years
Their temperance IN the Street was for the
purpose Of making purchases Of stocks and bonds
and not to crafty curiosity. They thought the
time had arrived once more to look for profits in
securities. BY $50 o'clock the galleries of the
Stock Exchange were packed with an expectant
crowd They were so thoroughly packed that
people who came later could no more squeeze in
than they could move the walls Of the Exchange.
Hundreds were turned away disappointed by the
doorkeepers.
PANDEMONIJ'M AT THE OPENING.
When the chairmans gavel fell at 10 o'clock
as a signal for business to begin there was
pandcmonium. There We're COO brokers on the
floor or twice as many as usual. Each stood
with q little package of slips of paper for mem
oranda bound with rubber band In one hand
and with the other hand raised in the air
Scarcely had the gave touched the little block
OF marble on the chairmans desk when the
brokers were yelling and shaking their fists
In each others faces like maniacs
They were not mad. They were buying anc
selling stocks The wild excitement continued
with little abatement for nearly an hour After
that time there was i let-up In the uproar. but
for the remainder Of N, day the exchange was
a more animated place than IT had been since
the day Of the announcement Of the great Read
Ing coal deal ir 1891. when the largest days
dealings I'm the history ~ the Exchange were
recorded.
The opening prices from one To seven
points above the closing prices OF Monday for
almost the entire active list. After the early
commotion subsded prices fell of somewhat. as
was to have been expected. II was estimated
that orders for the purchase Of ''.oVDo shares
of American stocks were sent frOfH New Noik
for execution or the London Stock ESchange.
where business proceeded for hve hours before
the New-York Exchange opened. 1t was corr~-
spending sales Of stocks on the New-York EN-
change to make n "turn" which lowered the
New-York prices. There were several brokers
offices which kept open all Tuesday night to re-
Ceivc orders to be transmitted TO London.
The London prices for "Amercans' jumped
up at rapid rate. The chief orders cabled TO
London were In St Paul Louisville and Nash
vile. Reading, Ncw-York Central. Lake shore
Southern Railway. Erie ard Atchison.
COMPARATIVE PRICES.
Comparative prices OF leading stocks on the