The daily morning journal and courier., 1898-11-11
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E EiMamrtal.
The Stock Market.

| New York, Nov 10.-Prices surged upward on the stock exchange to-day with what can only adequately be de- scribed as rush and roar. It was a day of furious activity throughout in all departments and the closing was at boiling point and at the best prices of the day. The greatest interest and activity were shown in the railroad se- curities of all classes and nearly all of those which were traded in show at least 1 per cent. higher for the stocks. The majority show gains of between i and per cent. This rate of increase is raised to between ? and per f>cent. in the case of Atchison preferred, Rock Island Baltimore and Ohio, Denver and Rio Grande preferred Union Pa cific preferred, St. Paul and Omaha. Cleveland C., c. and St. Louis and some of the specialties. The Oregon Navigation stocks both common and preferred, shows gains of per cent. The industrials and other specialties
 
 ly and absolutely, and were almost to- tally neglected until the later dealings. Sugar, Brooklyn Transit and the Fed eral Steel stocks then sprung into ac- ttvfty and scored substantial advances before the close. In the case of some stocks high record prices were made to-day, and in the case of many others the high prices of the year which pre- vailed about the first of September were approximated. Atchison prefer red, Baltimore and Ohio, Northern Pa cific and the Union Pacific stocks reached their record prices to-day. There can be no doubt that the strength of the market is attributable to the feeling of relief that the unsettling doubts and uncertainties over the elec- tion are a thing of the past and the confidence that the generally prosper ous condition of the country is sure to asert itself and lift values to a higher level. Everything was ignored but the most favorable incidents in the out look. The marked falling off in the export demand for wheat and the re- sulting fall in price had no effect. The unfavorable condition of the trunk line situation which caused declines Cor New York Central and Pennsylvania in London received no attention, and the prices of these stocks were ad- vanced over point net. Baltimore and Ohio rose 2ss, and Norfolk and Vest ern preferred was at one time up 3b. Reports from the iron trade of drift arIe might ordinarily be expected to have marked affect on the stock market were passed unnoticed. St. PauPs first week statement although 1t showed an increase of over s21, ,000, was much less striking than several of that road S recent returns which have passed un- noticed, yet there was an eager de- mand for all of the grangers, which made the group the leaders of the market in point of activity. The At- chison securities held foremost places and all of them advanced strongly, the preferred rising 25s per cent. with a stock issue of over $120 000, 900 to move. Northern Pacific preferred more than redeemed it's quartely dividend and Union Pacific preferred was heavily bought both for home and foreign ac- counts. London buying was again g. marked feature and commission house business was on an enormous scale, fairly taking the market out of the hands of the traders and eating up all offerings to take profits without appre- ciable check to the days continued ad- vance.