The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-01-25
: IN WALL STREET,
Yesterdays Closing Figures Not
..~. Equal to Those on the
Day Before.
The Dealings However Were In Excess
of a Million and a Third Shares.

New York, Jan. 24.-Enormous real
izing and short sales of stock today
materially affected the quoted price OF
stocks.
The dealings were in excess of a mil
lion and third shares, and at no time
did prices of the higher valued stocks
reach yesterdays closing figures. Heavy
sales in the early dealings were caused
partly by the lower range of London
quotations, end there were numerous
declines exceeding a point. A SHARP
upward movement followed, support
being extended to Michigan Central
Union Pacific preferred, General Elec-
tIgc. Peoples Gas, Manhattan and
Missouri Pacific. New Jersey Central
H.. O., L and Federal Steel common
were lifted.
The trading element began to sell
freely as the effect of heavy proft-tak-
ing was appreciated. The market at
first became duh as prices receded, but
the selling gradually became in larger
volume, and quotations rapidly crum-
bled away, eventually weakening pTac-
tically all stocks traded in. In the alb
sence of unfaYorable news, the reac-
ton was attributed to technical condi-
LUIS. by IedtHlnS Stop pss oruel :
IL the more active shares, material
slrmps occurred in prices, with as
much as a point difference between
transactions.
Money continued easy. and the
banks We're expected to make another
Heavy gain in cash this week. The
movement of money from the interior
III favor of New York. The low est
prices of the day We're made IN the
1inad hours selling.
Extreme breaks in the Vanderbilts
ranged UP TO 41a in Northwestern; in
the Flower specialtles the largest break
was points I'm New York Air Brake.
The drop in The grangers ranged from
- points in Rock Island to 3A in
burlington. Among the coalers, the
slump ranged up to an in Reading, first
preferred. In the Pacifics, the extreme
drop was points in Union Pacific
FennsFlvania dropped 81, Manhattan
ana Metropolitan IA each, c., c., c.
and st. Louis 2. Tennessee Coal and
Iron q American Malt 3, and General
Electric 21a. New York, Ontario and
Western, the most active stock in the
list on the days trading, dropped 21a
points.
IT was estimated that London at one
time had sold $4,000 shares, a portion
of which was taken back on arbitrage
ueanngS later in the day. The resist
ance in the market displayed notwith-
standing the heavy purchases by the
traders, was explained by the fact that
during the progress of the raids several
prominent interests were large pur-
chasers. They professed to see no
change in the situation pointing out
that there was no danger in sight of a
scarcity of money. and that the mar
ket was likely to be supported by the
purchases made In the interests of in
stitutions and individuals who had
large supplies of funds seeking employ
ment
A number of wagers were settled to-
day, when Missouri Pacific on dividend
rulnors. crossed Northern Pacific COM
mon in the forenoon's trading. A fea-
ture of the market was the resumption
of activity in the middle class and low
priced stocks.
The bond market displayed early
strength. but later yielded in sympathy
with the reaction in the stock mar
ket.
Total sales, S9,26O,OO0
United States IS and the old Is cou-
pom declined Is in the bid price.