The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-22
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-M Mining Stocks
Metal Quotations-Woo Prices and
Movements Grain and Pro-
duce-Review of Trade,

New Ofk, Jan. 2l.-Ihe stock market
was exceptionally active and remarkable
advances were made in some shares. the
extreme gains being in investment issues.
The average of prices was higher than in
years and the volume of traue in stocks
and bonds was the largest traded in on
Saturday. Investors, weary of waiting
for substantial reaction, seemed panic
stricken to place their money. The OPEN
ing quarter of an hour was the most ex-
cited. in sympathy with the booming mar
ket for New York Central on the London
exchange. All the Vanderbilt shares
made sharp advances on rumors concern
ing the plans of the controlling interests
of the New York Central The street
judging by the course of the market. gave
cfedence to these reports, but nothing
was given out in regard to the plans,
which were said to involve closer relations
between the New York Central. Chicago
& Northwestern and Union Pacific. al
though an unnamed director of the latter
company was quoted as making a denial
as far as the Union Pacific was concerned
New York Central made an extreme ad-
vance of SIS points, Union Pacific adj
vanced 2l2 points for the common and ia
ern 5l2 points. The London market moved
upward all day and it is estimated pur-
chased about $4,000 shares here. although
the London exchange closed before the
market here opened. There was heavy
realizing in some stocks during the adj
vance in the Vanderbilts, but all offer
ings were readily taken. Commission or
ders were so large that some floor brokers
had more business than they could well
f~
ders.
The fractional declines that occurred
were due to the suspicion on the part of
the traders that prices We're bid up in
the interest of sellers. The appearance
OF the bank statement. assuring as it did,
an abundance of money, eXerted a strong
influence and a renewal of confident pur-
chases. The closing was strong. but at
recessions from the best figures. The
more important gains for the day outside
of the Vanderbilts, Union Pacific and
Atchson, were Great Northern preferred
2 points and Evansville & Terre Haute
preferred points.
The stock market this week was treated
to daily average of 1000, 900 shares dealt
in. making allowance for the short ses-
sion on Saturday, and on three days the
dealings were in excess of a million Sat
urday was IA fitting close of the remarka-
years being attained in many stocks
There were various potential influences
at work, the most important of which
was the continuance of easy money, very
favorable trade reports, especially the
improvements in the iron business, large
railway earnings and the governments
foreign trade statement for the year,
showing an excess of 1921, PSI, 900 of exports
over imports for the year against $751;,
091. 600 in 1897.
The moneyed public controlled the stock
market, it having grown too large for any
leader or pool to manipulate. London
sold more than 10000 shares. but in the
latter part of the week purchased more
than half that amount. The Vanderbilts
were all very strong, New York Central
leading with an advance of 1879 points on
talk of an issue of New York Central
bonds to take in Northwestern and Union
Pacific. Advances in the Pacifics ranged
up to Sa4 points in Union Pacific. Excep-
tons Were Southern Pacific and Pacific
Mail, which We're easy. Reported agree
ment by rival concern to charge dent-
cal prices for the refined article was a
preteXt for squeezing the shorts in Su-
gar over points.
American Steel and Wire gained 1O1a
points for the common and Is points for
the preferred; New York Airbrake fiuc-
tuated wildly. rising 26 points and drop
ping 10 points, with a subsequent recovery,
making the net gain 10A points. Manhat-
tan rose 81 points. Burlington g. Rock Is
land A, st. Paul 31s and Northwestern AS
points.
Railroad bonds exhibited marked
The material improvement in
the high-grade stocks prompted extern
sve trading in bonds where opportunities
for enhancement in values seemed prob
able.
U. S. old As registered, the new As cou-
pom and the SIS registered advanced Il per
cent. and the IS y per cent. in the bid
price.