The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-11-05
IN THE WORLD If FINANCE
NEW YOEk STOCKS.

New York, Nov 1.-THE first post-clec-
ton trading OH the stock exchange this
morning was strong in tone and buoyant;
for the first quarter of an hour prices rose
sharply. the advances ranging up to
seven per cent. with Sugar as the leader
in the market. There was, however, u
fcvershness about the transactions
which quickly led to realizing sales re-
sulting in reactions of about 1a1 l-2 per
cent. These were followed by sharp but
only partial recoveres, the dealings mean
while being on i'm enormous scale reach
ing proportions that have not been wit
messed for n long time past. There was
good buying on orders from out Of town
which was stimulated by the receipt of
cable advices reporting higher prices for
American securities on the London Stock
Exchange. Foreign buying orders also
were executed in fairly large volumes and
| materially assisted in the upward move
ment. There was, however, large selling
for the account of operators who desired
to take advantage of the rise which was
expected to occur in the initial dealings,
opinions differing rs to the stability of
the advance. The hour preceding noon
was marked by fairly steady tone on a
moderate business which brought the
market to about it's normal condition.
Approaching mid day the market again
was on the upward turn and the special
ties attained considerable prominence by
reason of wide fluctuations. The trading
III the afternoon session was characterized
by considerable nervousness and {, dimin-
ished volume of business which was, how
ever, better distributed than in the fore
noon.
AT the sub treasury applications were
rejected except subject to delay for exam
N -
stated that the entire clerical force OF the
establishment was taxed to the utmost
III counting heavy accumulations of sill
yer. Finally the gold was turned over to
the banks and savings institutions and
some of the banks that are understood to
he short of currency will, it is stated
pay their balances at the clearing house
temporarily in gold. Money was dis.
tnctly easier. Large transactions were
made on call and the rate was quickly
forced down from 10 per cent, the initial
figure to Is and finally to 4 per cent, clos
ing offered at that price. All stringency
III the time money also disappeared and
all borrowers on good mixed collateral
were accommodated ut 6 per cent. for all
periods from 30 days to one year The
inquiry for funds was not pressing. A
co relative removal of restriction in the
mercantile paper market was also noted
and the demand for choice paper was in
excess of supply. Rates were lowered to
6aI per cent. and fairly large business
was reported at the lower figure. Silver
certificates were conspicuous by n decline
o: l-2 per cent. to 90 l-2 in the early
dealings, subsequently with liberal pur-
chases Il rally ensued to CT Ia The total
transactions were $l20,000 Aside from
Sugar which came third in point of activ-
ity and scored the extreme advance of Z
per cent. in the active list, the industrials
were overshowed in extent of trading by
the railway shares, with Reading and st.
Paul leading the last named class.
CLOSING STOCKS.
Atchison 161.4
Adams ENnrnSs 10