The San Francisco call., 1899-01-24
NEW YORK STOCK MARKET.

NEW YORK. Jan. 2S.-Speculation in stocks
to-day passed previous high record marks both
in volume and in prices attained. Transac-
tions in stocks figured for 1920. 600 shares, and
the sales of bonds reached So, ,046, 0O0 Trading
furious at the opening and the highest
prices were reached in most of the stocks
the initial bulge, with advances of 3 to 10
points in some cases. There were subsequent
violent breaks on realizing of profits. The
ket then became quieter until another exhi-
btion of strength in the afternoon. when the
coalers and Gould stocks got TO the best. The
bank statement, which seemed to assure easy
money, was the handspring in the market
strength. London opened firm, but declined on
operators taking profits, and then steadied on
curb transactions. The extent of the public's
interest in the market was reflected by the
congestion Of business in the Stock Exchange
and in the commission houses. For instance
II was announced to a brokers' customer to-
day that all orders would be subject to delay as
their representatives on the floor were unable
to attend all of their business and that floor
brokers were refusing orders, as they had
more on their hands than they could execute
AS an incident conveying an impression OF the
extent OF the early advance, one customer who
had given an order to sell block of an active
issue received $50, 900 more than the order
called for. Large operators are believed to
have realized heavily in the early dealings
but there was said to be considerable takine
back OF stock in the afternoon that had been
sold earlier and round amounts OF stocks were
covered by the traders. Some of the more
1875 in Pittsburg, c. c. and st. Louis, a de-
cline OF IS and net gain of 45s. Canada South
ern advanced 1O12, reacted TO- and regained 3I9;
c. c. c. and st. Louis rose SIS, dropped 4 and
closed within one point of the best. New York
Central advanced 31s, fell back 5A, and ended
with a net loss OF Is. Manhattan rose frac-
tionally, broke three points, rallied AZ, and
closed = uD. At one time another in the
trading there were extreme advances in the fol-
lowing stocks not previously enumerated:
Reading first preferred, "a; seconds, 8; Penn
sylvania. 6J5 Ontario and Western 5as. Gen
Electric.
Malt, Al; Lake Shore and New York Chicago
and ST. Louis first preferred, 4 each; Interna-
tional Paper, 3A: New York Central, 81; St
Louis and >. T. second preferred and Delaware
and Hudson, each; Northwest and Western
Union, 21z each. After the early rise the heavy
selling movement dropped prices RAPIDLY
Brooklyn Transit, Union Pacific, St. Paul. Cen
80 atIu many utIieI sloCks y!elued from TO
b points. The market became dull in the after
noon but livened up later under the leadership
of the coalers. Enormous purchases of Read
ing carried the price up ~, and other coal
ers were lifted from IL to Az The movement
spread to Ontario and Western. which jumped
bSs on transactions of over 2G0 600 shares The
belief seemed to be that the company would
benefit by the better conditions which were said
TO exist in the anthracite coal trade n was
said that a plan for harmonizing the conflict
ing interests in the trade had reached a pre-
hmlnary stage The grangers were rather
centered in the specialties. Notwithstanding
the undertone of strength in speculation many
shares closed notably lower. The more prom
lnent We're Union Pacific preferred. Omaha,
Federal Steel, Brooklyn Transit Consolidated
Gas, New YORK Central and Glucose, which
We're on from lglB, while New York Airbrake
suffered loss of 3h The strength in Pitts
burg Chicago, Cincinnati and St Louis was
said to be founded on confidence that the Ie-
gal position of the minority stockholders would
lead TO the declaring of dividends within a
comparatively short time or in the sale of
minority holdings in blocks. The extraordin-
airy squirt in c G. c. and st. Louis was on a
statement that the Vanderbts had acquired
the property. In some quarters the denial OF
the reported plan of the controlling interests of
the New York Central as far as they relate TO
other railroad properties was regarded 40
technical The market closed strong
Railroad bonds showed considerable strength
curing the forenoon and record prices were oh
talned IN many issues. In the subsequent
movements the market displayed irregularIty
which continued until the end. United States
old fours coupon and the ives coupon advanced
Il in the bid price.
shares, including a. $50 Atchison 15S 220 Atchi-
son preferred. 1850 Canada Southern, 12 900
Central Pacific. 1855 Chesapeake and Ohio,
23,955 Burlington. 16 42S c. C C. and 81 T.ouis
$500 d. and r. c. preferred is 400 Erie nre
ferred. 1883 Illinois Central 19 $50 Louisville
and Nashville, g. $50 Manhattan, 343O Metropoli-
tan, l3S, 800 Reading preferred 30,0 900 Missouri
racine, 1900 NJ. K. and T preferred go 63S New
York Central. 800 North American. II 20o
Northern Pacific, %, 5,551 Northern Pacific pre-
ferred. 3l.l62 Ontario and Western 30 200 Read
ing, 26,HOO Union Pacific, rs, $40 ST. Paul 10 029
Southern preferred, s1.se1 Union Pacific pre-
ferred, a. 190 Paper Is, $50 Tobacco 81 625 SteeI
742s Steel preferred, 5000 Peoples Gas $500
Colorado Fuel and Iron, 4647 General Electric,
$4,000 Sugar, 1850 Leather 9267 Leather pre.
ferred, Si0O Rubber, AZ. 600 Western Union 2s 420
Chicago and Great Western
The dealings in the Stock Exchange TO-DAY,
recahed the enormous figure of / 620 612 shares
and the total sale of bonds SO O46 600. The sales
OF stocks to-day were the largest in the his
the Reading issues