The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-24
MARKET PASSED
HIGH WATER MARK
Trading Was Furious and Highest
Prices Reached on the Start.
THE EFFORTS OF BEARS FAILED.
Large Operators Become Buyers OF
Stocks " hich they Had UnlOadcd
Earlier in the Day business on
the Exchange was Congcstcd.

NEW YORK. Jan. 23-Spoculation In
stocks to-day passed previous high-
record marks in volume and in prices
attained Transactions in stocks hGufcH
for l.620OpO shares. and the sales Of
bonds reached S9,Oi6opJ. Trading was
furious at the opening. and the highest
prices were reached In most stocks on
the initial bulge with advances OF . TO
10 points in some cases There were aun-
sCQuont violent breaks on enormous real-
izing 81 profits. The market then became
Quicter until another exhibition or
strength Sta tho afternoon trading, when
the coalcrs and Gould stocks got 10 the
best. The bank statement which seemed
10 assure easy money. was inc mann
spring in the markets strength. London
onenrH firm. but declined on operators
transactions. The extent of the pubhc's
interest in the market was reflected by
The congestion of business ON luc STOCK
Exchange and in thc commiss ion-houses.
For instance, 90 was announced 10
brokers customer to-day that an orders
would hc taken subject 20 delay. as their
representative on the floor was unable
10 attend 90 all of their business ana
that floor brokers were refusing orders,
os they had more on their hands than
thcy could execute IL was the usual
thing to refuse 10 accept sfOD-lOss orders
as the trading was too violent 20 guar
antee their execution. An incident cOn-
Vcylng an impression Of tho extent or
mo early advance was that OF n Cus-
TONER who had given an order 90 sell
block OF am active issue, and who re-
ceived S20oo0 more than the order called
for owing 20 the violent rise while the
order WAS being executed. Large opera
tors were believed 20 have realized heaVi-
Is en- tho early dealings, but there was
said 20 be considerable taking back OF
stocks I'm the afternoon that had been
a.fIa tu OF ct
were covered by the traders. Some az
the more sensational movements were an
advance Of 1Ws In pittsburg Cincinnati,
Chicago and 81. Louis 10 -. a decline ~
ern advanced 1912 reacted 10, and gained
ga g.. c.. G.. and 81. Louis (Big Four
rose Sb dropped ! points. and closed
within I point Of the best New orS
central advanced 3ls, iell hack "a . ana
ended with a net loss of Is. Manhattan
rose fractionallyy. broke points. ral-
lied a. and closed = mp. Al one time
or another in the trading there was cA-
IRENE advances In the following stocks.
not previously enumerated: Reading iist
preferred "a: do. second preferred, 3.
Pennsvlvanla Glh. Twin City Rapid
Transit. %. Ontario and western. DPS.
After the early rise the heavy seIliht-
movement dropped prices rapidly BROOK
Ign Transit. Union Pacific, ST. Paul. New
York Central, and many other stocks
yielding from o 20 . points. The market
became dull in the afternoon. but livened
up later under the leadership OF the coal
ers. Enormous purchases, or ltea ..-llI
carried the price mp ga ana otner coal
ors were lifted from ~ 20 49,. Ihe move
ment spread to Ontario ana western,
which Jumped JN on transactions of over
800 shares The belief seemed 10 bee that
fhe company would benefit boy the better
conditions which were said 10 exist in
the anthracite coal trade. The eraugers
were rather quiet in the afternoon. Snec-
uiative inferred centercd i'm the specialties.
Notwithstanding She undert0ne Of
strength IN speculation. many shares
closed notably lower The more uromi-
nent were Union Pacific preferred. Oma-
Ia. Federal steel. BROOKLYN Transit; Con-
e0lidated Gas New oHrk Central and
Glucose. which We're on from ] 20 Us.
while New York Brake suffered loss
Of 2t The market closed strong
Railroad bonds showed considerable
strength during the forenoon, ana record
prices were obtained i'm many issues. Tn
the subsequent dealings the market dls-
played considerable irregularlty which
continued 20 the end. United states Old
As coupon and the 5s coupon advanced
g in the bid price ,..
The total sales Of stocks We're l. 600. COO
shares. including 1850 AtchisOn. 1a~.23O
do preferred. 800 Canada Southern;
1205Q Central Pacific, $40 Chesapeake
and Ohio. % 800 chicago Burlington and
Quincy. 1G24Sf c.. g.. g.. and ST.. Louis.
$50 Delaware and hudson. $50 Denver
and Rio Grande preferred, le.4oO Erie
first preferred: 1896 Illinois Central. 49,
$50 Nashville. G6 $50 Manhattan. 13s.5lO
Read first preferred 10000 Missouri Pa
cfnc. 1900 Missouri. Kansas and Texas
preferred. Goo New Jersey Central, 30
G2G New York Central, r 100 North
American Company. 1890 Northern Pa
clGc. 2j.5Ji do. preferred. 1880 North
western. 2l1 TO- ontario ana WESTERN
3302 Reading. 2G79 Union Pacific. Us
90 ST. Paul. I1T5 Southern railway. TO-
O2O do preferred. Sl.S6l Union Pacific.
g 600 Wabash preferred, 14.1Hp luterna-
tioual PAPER. 81 go Federal Steel; 1923
do. preferred 1000 Peoples Gas; 1900
BROOKLYN Transit; 7.45j Pacific Mail. 3d.
400 Sugar. G.G3O Tennessee Coal and Iron;
8 et5 Leather preferred. 1900 Western
Union. 29420 Chicago Great Western.
MONEY AND EXCHANGE.-Money on
call steady at 2@03 per cent. last loan
az Oh per cent. prime mercantile paper
gi,Geat per cent. Sterling exchange
steady. with actual business IN bankers
bills al 81 Si@i - for demand and at
81 $3.50 s8 for sixty days posted rates
81 e3is and 81 Slls, commercial bills
s. SOLOS 81 Silver certificates nominal
mi sqi QGU5: bar silver 59h Mexican
dollars AIS. Government bonds strong
state bonds strong; railroad bonds
irregular.