The sun., 1899-01-21
yzN1xcr11 AND COMMERCIAL
FhInAK Ian. %.

ThIDAN. Jan ~.
new record Of activity was made on the
Stock Exehanee to-day. the transactions foot
Ing up !. .250.0U0 shares. These extraordinary
dealings we're unusually we'll distributed. No
stock not even Manhattan Railway and Atchi-
son preferred. In which the trading was in eK-
cess OF 100000 shares each. supplied 10 =
cent Of the total sales. Even the half dozen
stocks that were dealt In TO tho extent OF about
10000 shares each contributed but5 = per cent.
OF the total transactions. II was n tremendous
market. in which there was heavy buying
chiefly through commission houses. and
also extensive realizing through the same
channels Operators who desire to take
profits find no difficulty in doing so.
owing TO the steadily increasing de-
mand for securities And II IL to be noted
9 that the present aggressive buying. particu-
larry OF the idend-payinE stocks comes from
actual purchasers. The plethora OF money,
both here and abroad. together with the pre-
vailinG business conditions. is apparently re-
sulting in a readjustment OF values to 3 y
cent or 3H y cent. basis. This accounts for
tho recent sharp advance in c., b. and Quincy.
6t. Paul. Rock Island. Illinois Central, New
York Central and stocks belonging in the same
category. New York Central was exceptionally
active to-day at a net advance OF nearly 5
points The reasons for this movement are
stated further on In this column,
The rise in the stocks referred to above has. OF
course. been attended by good deal Of specu-
lation. but prices have now been reached that
obviously reduce the speculative possibilities
In those ct ocks. Their attractiveness as In
Vestm ents has also been lessened somewhat.
In consequence both spectators and investors
are turning their attention to securities OF the
next class below This was shown to-day by
the net advance OF points in Union Pacific pre-
ferred on sales OF more than 10000
nhn hv for ltnhiaon
preferred and by unusually heavy deal
inGs at advancing prices in Canada
Southern. Denver and Rio Grande preferred.
United States Leather preferred and 1nterna-
tional PAPER common. In due time the steadi-
ly increasing confidence and appetite Of the
public will doubtless influence the market for
the so-called low-priced stocks. There were
Indications Of such a development to-day in
Atchison common, National Lead common.
r." Nickel Plato" second preferred Norfolk and
Western common and Union Pacific common.
The most sensational movement OF the day
was in Manhattan Railway. 1t led the list in
respect to activity and enjoyed a maximum |
advance OF moro than points At reaction |
Of points it closed 31I q cent. higher than |
yesterday A similar improvement was re-
corded In Metropolitan Street Railway, but on |
moderate transactions An improvement in |
trade conditions was responsible for the atten- |
tlon received by United States Leather pre-
ferred and International Paper common. The |
bond market was nearly as active and fully as |
strong as that for stocks. Both will probably |
be Influenced by the bank statement tor NOR |
row. which. according to the usual estimates of |
the movements OF money. is likely to show an |
increase in cash OF over $l0.000.000. London |
was not much OF factor to-day Foreign op- |
orators have stopped selling on an extensive |
scale and appeared to be content to try to scalp |
small profits in either direction. The closing |
was steady at a reaction from the best prices
New York Stock Exchange-SaIes Jan. 20.
UNITED STATES AND STATE BONDS I'm S1.000sl.
Q s ss. ser B.. / O7ssI o Us4s.r r. 19o7.ll2H
U IS. c 3 Tenn Set 3s... 96La
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