The age-herald., 1899-01-15
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New fork, January 4-TranSactionS on the stock exchange today were the largest for two-hour session in many years and had the same volume continued for the usual hours trading, it would have been within quarter of million of two million shares. As it was there were nearly 7O0,- 0O0 shares dealt in and the average net rise in prices was from 1 to points in the shares which figured most extensively in the dealings There was a diversion of in- terest from the Pacifics into higher priced stocks, the grangers being the gathers. The excitement on the floor of the stock ex- change was tremendous There was an unusually large attendance of brokers for the shorts and soon as the constant influx of outside orders rendered it necessary for the larger dealers to transfer considerable of their business to the hands of smaller brokers at the regular commission between members. Stocks opened buoyant and ae- tive. High-priced records passed unnoticed in the confusion. Brokers fought to exc cute orders and simultaneous transactions in many shares were widely apart from tn $ side and the quotations from that quarter showed general advances. The rapidity of the rise brought out immense blocks on realizing sales but the sustained
 
 offerings after a temporary reaction and prices again mounted upward. The mar ket halted momentarily pending the pub lication of the weekly bank statement, but on its appearance showing as it did n- creases of $4,732, TOO in the surplus reserve and $3 042,200 in the loan account, bullish enthusiasm was resumed with violence. Commission houses were easily the largest buyers. The extreme gains in the Pacifics were only fractional, while in the grangers they ranged from in St. Paul to in Bur 1ington and in the active coaers from 1 to 25s. The Gould and Vanderbilt stocks were comparatively neglected, except Southern Railway. The greatest strength and &C., tivity was shown in the grangers, Atchi- son. the Readings Southern preferred, Fed eral Steel and Brooklyn Rapid Transit. Points of heaviness were Great Northern preferred, Illinois Central, Metropolitan. Lead and Laclede Gas.
 Generally speaking, while there were some sharp recessions from the extraordi- nary high opening, the market regained much of the decline. The market closed with some irregularity. but generally strong and active with important gains in many cases. noteworthy feature was a large rise in Burlington on renewed gossip con- cerning the prospective refunding of their outstanding bonds. This talk, however, was little more definite than usual. New York Air Brake made an extreme advance of 9 points, WIl.le southern hdnWdy pToIerTou, and Atchison preferred, were up over 6 points each and Federal Steel common which has lately been neglected, although reacting from top prices ended with a net gain of 15sc. The largest trading in any speciality was in Brooklyn Rapid Transit which had an initial rise of points on con- firmaton of its acquiring control of the Nassau Electric company.
 The weeks business altogether was the most remarkable in the history of Wall street Transactions for the week for stocks reached the enormous total of {, ,S51 ,0OO, mak- ing the daily average for the full days ses- sion over a million shares.
 Dealings in bonds were attended with the usual marked variations in the semi-specu- 1ative issues There was in general dis position to employ idle capital in the stock trading, where the rapid fluctuations gave promise of a speedy or a profitable return.
 U. s. 2s advanced f and the Ss and new 4s 1sc in the bid price.
 United States 5s coupon declined Bc: United 5s registered Ac, and the old As reg istered Ac.
 Total sales of stocks today were 70S 435 shares. including 21 900 Atchison; S5 62O At chison preferred: 2S,910 Burlington; 7,SOO Louisville and Nashville; 3,25O Missouri Kansas and Texas; 26 l20 Rock Island: IT 13O Union Pacific; 1SG20 St. Paul; 57,S20 South ern Railway; 3O,910 Southern Railway pre- ferred: $500 Texas and Pacific 15,5O0 Cotton Oil; 4,50O Tobacco; 42 ,240 Steel.
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