New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-18
HEAVY DEALING IN STOCKS
TRANSACTIONS FOR THE DAY ALMOST
ON A TREMENDOUS SCALE.
THE MARKET CLOSES AT NET AVERAGE AID

THE MARKET CLOSES AT NET AVERAGE AID
vANcE-w1Lp SCENES ON THE EXCHANGE.
Seldom in a period extending back over nVe
years have the bankers and brokers OF the " al
street district witnessed such stirring scenes OF
activity and excitement as were 10 be seen yes
terdav On the Stock Exchange. Almost from
the moment business opened there was rus"
to fiji orders that carried everything before H.
At times the din and confusion ON the hoo'
reached hair-raising proportions. and the echoes
Of the battle raging within could be heard In all
the surrounding streets. The news that there
was a big boom on spread like wildfre and III
less time than IL takes to tell the galleries were
packed with n persplring mass Of humanity
hanging over the rails and watching the scenes
below with breathless interest.
The bull movement which has now been go'rs
on for weeks reached its height yesterday
Commission houses reported yesterday that 'hey
had all they could do 10 keep pace WIN TIC
speculative buying now flooding the street iroi"
tho nyrads OF small investors who ENJOY tahi"s
n FLYER" now and then Just for amusement
TO say nothing Of those keen. observant stuuei's
Of tho trend of. the times who believe thal '"ey
have sized up the situation correctly anu
who appear in the arena at certain hlerEa.o
confident of carrying away a snug fortune All
the various forces were at work yesterday
fessIonal amateur inside and outslde-anu '"V
result Of their efforts IS well worth recording.
with one execution the transactions on the
Exchange were the heaviest since 1873. me
total sales Of shares yesterday were eoV'-oV'
which falls only a little short Of the record FOR
the last five years made on September IL lo'''
when 957. go shares changed hands at an aver
age decline Of 2 to per cent. Yesterday 'i,e
ovorace advance was more than l per cent ~
On recalled in connection with this that on the
dav after Cleveland issued his Venezuelan mes
saoo which created a panic in stocks. the to,ai
reached only 1iJ113 From these comparisons
q will be seen that for one Of the hottest rio-
summer days yet experienced the business
under way yesterday was of tremendous piop''
tons and oil the more remarkable TOT the sui'
but steady and healthy development WHICH mas
been shown OF late. 1t must not Dc 'ahe" III
granted that everybody was buying STOCKS -"
the contrary, those who had purchaSe' ''o
blocks short time ago at low inquire Cd"
chance to take in splendid profits ana the ex
tent OF these realizing sales under orulnaiy .h
dltions would have driven prices GOWN WIN ="
one OF the principal factors in the upwatn
trend Of prices was the announcement cary III
,ho dav tbat tho Chicago Burlington and quincy
Railroad had Increased its dividend. "neh ,','s
important bit OF news was maze puo"h " y
stock selling at about llor2. me- -
large crowd around the post on tne iIo ~, W dad
Exchange where this particular STOCK Is tlau
in Anxious to grasp the big chance TOT l'ol in,
making a little broker with a fierce REQ an ~ q,
,ache and n shining bald spot leapen WHY III
the air and bawled. "One hundred ana sIA.sen
,or Rurl"--- But he got no further. TOT Win d
wild roar and a scramble the crowd crossed Il. os'
him. When he was picKed up az, crnmnied
was over he still held in his hand a cruil,p,eu
niece OF paper which he vanly trleu 70 pe..
IN order i3y the time he had sufficiently reco'
orad IN know lust what had happened the pre-
had gone to 10 over eighty thousahu sHaIe %
/ ~ this road changed hands during tne uas
Large orders came In from Chcaso am D0' 1,ha
/ which materially helped the SITUATION; -
| ,n,,a,,enr In Burlington started buying IN other
| ~ the Western roads, 81. Paui III par IL u
roaming great benefit. Sales OF the
| a,rounted TO l02 900. at n net au'anCe "a
Tho dealings In Sugar were also OF iia'le , rs
| proportions, at an advance oi IS -,An.n.aLa
| rohacco brooklyn Rapid Transit. ChesapeaA,
ng ohio Northern Pacific. Peoples Gas anu
| Vock Island were among the other pilshl So.
| ,bat assisted In binding the eyes OF the sPe0u'"'
| tors 49,, g., ,,o ,,arket AL
,hough there was more selling IMAM ouSi. ~
| tnreign account 1t was noticeable 'htt 1h1eie
ioa -, Awakened In many OF the low-priced
.,ncLs and the knowing ones were treeIy sI.ii. IS
,,ns that there would be barrels OF money ~
| $40 made in this cless or securities ps.''S $40
n~oser, hull movement had wasted Itself CO..
ono ~ the best-known operators III uie Nl'ees
,yas a buyer OF Texas and PACING sc,
coal and Iron moved up peg, 49, ,ha IRON trade
! General Improvement reported IN tne IRON :. 80
1a,de Of all description came In TOT an ",Iusu ,
! n,e',rt ~ attention. There was iafse NJ u,
| na,t huvng 81 both Government anu 'as. az
! bonds I'm which the new war pohue P'A' 49,
unimportant part