The Worcester spy., 1899-01-24
TRADING FURIOUS.
Speculation in Stocks Passes All
Previous Records.
transactions in Stocks Figured for l,620,-
600 Shares, and Sale of Bonds Reached
s9,o46,ooo.

New York, Jan. 23.-Speculation il
stocks today passed previous high rec
ord marks both in volume and il
prices attained.
Transactions in stocks figured for 1,
62OOOO shares. and the sales of bonds
reached $9,046,OOO. Trading was furious
at the opening, and the highest prices
were reached in most stocks on the ini-
tial bulge with advances Of to 10
points in some cases.
There were subsequent violent breaks
on enormous realizing of profits. The
market then became quieter until an
other exhibition of strength in the af-
ternoon trading, when the coalers and
Gould stocks got to the best. The
bank statement, which seemed to as
sure easy money, was the handspring
in the markets strength.
London opened firm, but declined on
operators taking profits, and then
steadied on curb transactions.
The public's interests in the market
vas reflected by the congestion of busi-
ness on the stock exchange, and in the
commission houses. For instance, it
was announced to a brokers customer
tooay that all orders would be taken
subject to delay, as their representative
on the floor was unable to attend to
all of their business, and that the floor
brokers were refusing more orders, as
they had more on their hands than they
could execute.
1t was the usual thing to refuse TO
accept stop loss orders, as the trading
was TOO violent to guarantee their exc
cution. AS an incident conveying an
impression of the extent Of the early
advance was that a customer who
had given an order to sell block of
an active issue, received $4,000 more
than the order called for, owing to the
violent rise while the order was
being executed. Large operators were
believed to have realized heavily in the
early dealings, but there was said to
be considerable taking back of stock
IN the afternoon that had been sold
earlier and round amounts of stocks |
We're covered by the traders.
Some of the more sensational move |
ments were an advance of 1875 in Pitts
burg, Z. c. and st. Louis to 49, a de- |
cline of Is. and net gain of 15s. Can |
ada Southern advanced 101a, reacted 10, |
and gained 319. c. C. and st. Rose |
412s dropped points, and closed with |
l of the best. New York Central ad- |
vanced 31s, fell back 81, and ended
with net loss of *. Manhattan rose
fractionally, broke 8 points, rallied Az, |
and closed B up. At one time or an
other in the trading there were ex-
treme advances in the following stocks
not previously enumerated: Reading
first preferred, 7%; ditto seconds, ::
pennsylvania, 61a; Twin City Rapid |
Transit 5H; Ontario and Western, 53s; |
General Electric, 3$; Lackawanna, 1a;
american Malt, AZ; Lake Shore and
New York, Chicago and st. Louis first
T,,ts
3A New York Central, 3B; st. Louis
and San Francisco, in the preferred,
and Delaware and Hudson each, and
Northwestern and Western Union,
21a.
After the early rise, the heavy SELL
ing movement dropped prices rapidly,
Brooklyn Transit, Union Pacific, St.
other stocks yielding from to points.
The market became dull in the after
noon, but livened up later under the
leadership of the coalers.
enormous purchases of Reading car
rled the price up 7%, and other coalers
We're Lifted from IL to AZ. The move
ment spread to Ontario and Western
winch jumped 5ss on transactions of
over 100000 shares. The belief see
to be that the company would benefit
by the better conditions which were
said to exist in the Anthracite coal |
trade. 1t was said. that plan for har-
monizing the conflicting interests in the
trade had reached a preliminary stage
The grangerS were rather quiet in the |
afternoon. Speculative interest CEN
tered in the specialties. Notwithstand- |
ing the undertone of strength in spec |
ulation, many shares closed notably |
lower.
The more prominent were Union Pa |
ciiic preferred, Omaha Federal Steel |
Brooklyn Transit 8. Consolidated Gas, |
New York Central and Chicago, which |
were off from l to 17s, While New York |
Air Brake suffered loss Of 81. The !
strength in Pittsburg, c., c.. and st. !
Louis was said to be founded upon con-
fidence in the legal position of the mi |
nority stockholders which would lead to |
the beginning of dividends within a !
comparatively short time, or in the sale |
OF the minority holdings in blocks.
The extraordinary spurt in c., c., C. |
and ST. Louis was on statement that |
the Nanderbilts had acquired the prop |
erty. In some quarters the denial of |
the reported plans of the controlling in |
terests in New York Central as far as
they relate to other railroad properties, |
was regarded as technical.
The market closed strong. Railroad
bonds showed considerable strength
during the forenoon, and record prices
We're obtained in many issues.
In the subsequent dealings, the mar
ket displayed considerable irregularity
which continued to the end.
United States old As coupon, and the
5s coupon advanced u in the bid price.
NEW YORK QUOTATIONS.