The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-11-05
WALL STREETS
MONEY JUBILEE
Great Crowds ThrOng the Galleries OF
the Stock Exchange.
STOCKS GO UP WITH A BOUND
With Republican victory Comes
strong Upward Movcmcnt..A bu'i
Climb of from 1 to g POints."AiI the
Local Markets Similarly Affected by
the Election Result.

the Election Result.
New York, Nov. 4.-The assurance Of
the public that all American securities
would advance with the triumph OF
sound money in the election of Nc
Einley and Hobart attracted great
thronC of visitors to the Stock eN-
change today.
Decorators had been put to work
early in the exchange and scores or
flaSS and yards of bunting We're added
to the already profuse decorations.
At . o'clock Il great number OF tash-
innahiy dressed women, wives ana
daughters of members of the exchange,
drove down to Wall street in their car
riares.
The gallaries of the exchange and
the governors room We're quickly
crowded by them, and the place took
on the appearance OF Il fashionable re-
cpption. For some time before the eX-
change opened there was not standing
room in the galleries, so great was the
throng of visitors.
Their numbers had become SO great
just before 10 O'Clock that the south
gallery was thrown open to the visit
ors, and finally the Offices Of the presi-
dent and secretary. When no more
could he accommodated. those seeking
admission were denied, and hundreds
had to be turned away. At the time
Wall street was blocked with car
riages.
THRONG IN THE STOCK EN-
CHANGE.
When Chairman Mcclure officially
opened the exchange, at 10 o'clock the
scene was one the like of which has
rarely been witnessed. Tier after tier
of seats were occupied by women hand
somely dressed. Nearly all of them car
ried lorgnettes and watched the brok-
ers on the floor of the exchange in
tently.
The fall of Chairman McClure's gavel
was the signal for trading of an unusual
character. The few brokers who re-
mained short of the market in the hope
of the defeat of Mckinley became per-
fectly. frantic in their efforts to get un-
der cover, and the bulls made them pay
dearly for their temerity.
No sooner had the chairman of the
exchange given the signal for the be-
ginning of trading than there was one
grand rush on the part of every broker
on the floor. Each and every broke
seemed to have buying orders in unlim-
tied amounts. not only for the standard
all the low-priced stocks as well.
Opening dealings were of such q stir
ring nature that it was impossible in
many instances for the official reporters
on the floor of the exchange to obtain
the prices at which first transa ctions
were made. Thus the ticker" an
nounced the opening dealings in a num-
Der of stocks at widely different figures
For instance. the reported opening Of
Sugar was l,500 shares at from 125 to
l2l. which prices compare with 11S&. the
price current at the close of Monday,
representing an advance To- the highest
of GI points, which was the maximum
rise Of the morning. st. Paul, in which
London Is particularly interested, OPEN
ed with sales of 10000 shares at from so
to 1Sl2. against 76, Mondays close.
Other notable advances at the start
Were 1 points in Jersey Central and Illi-
nois Central. 3 points in American To-
h1cco. Minnesota Iron and Western
Union, Az in Tennessee Coal. and 2M21h
points in Louisville and Nashville, Man
haitian, Reading and Atchison.
VERY HEAVY TRANSACTIONS.
The transactions assumed enormous
proDOfticrG. the total sales of stocks
in the first ten minutes alone having
aggregated 10000 shares. which amount
was swelled to 270,OOO shares by the
end Of the first hour The activity also
spread to the bond department. and
the sales of railway and miscellaneous
bonds at II Il. III. reached the heavy
total OF S2,C00,000. while prices jumped
up sharply on enormous buying for in
vestment.
Government bonds were also mora
active and purchases of the new As
were made as hiSh as l19si. an advance
of over point from the figure at which
the last previous transactions were re-
corded
The overwhelming defeat of the free
silver candidate was at once reflected
in decided slump in the price of sill
Yer. On the Stock Exchange silver
bullion certificates opened at &c. on
sales 1900 ounces. The closing price
on Monday was Csc Later. 10000
ounces sold at 62lsc a drop Of 2Is cents
from Monday. Before midday, how
ever, the price had rallied to Gihc.,
but there was an absence of derand.
Commercial bars were quoted at 641ac.,
with the market very dull.
THE ADVANCE ANTICIPATED.
The sharp advance in all securities
today had been anticipated yesterday
and as soon as the triumph of the
sound money became an assured fact
last night. the cables were made hot
with orders to buy stocks in the Lon
don market, these orders emanating
from people short of stocEa/here, as
well as from operators who were de-
sirous of taking advantage of the boom
which they were certain would follow
the assurance that the integrity of
the government is to be maintained in
all its functions.
AS a result, the London market for
American railway shares in the early
dealings became strong and prices
ity with Mondays closing figures at
New York. Reading rose points. IL
linois Central Az, Erie first preferred
AZ, Louisville and Nashville 2k, Atch-
ison preferred 9, New York Central ~
and AtchisOn common and Union Pa
cilic each a point.
Private orders received from London
before the opening of business here
stated that enough is known of the
election in the United States to revolu-
tionize the market for American rail-
wey shares, and that a profound i'm
preston has been produced. The same
cables also announced that the markets
for foreign securities were favorably
Influenced by the sound money victory
in this country. and British consols for
both money and the account, advanced
sharply.
London operators, imbued with the
decidedly buoyant temper manifested
on this side, sent over unlimited orders
to buy stocks in this market, and ar
Asitrage dealers in this city had more