The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-01-24
STOCKS HIGH RECORD
Dealings to the Enormous To-
tai of 100000 Shares.
BOND SALES OF S9,046,000
Tremendous Opening Bulge
Brokers All Swamped.

New York, Jan. 23.-The sales Of stocks
today were the largest in the history of
| the exchange, not excepting the great rec
ord made in 1892, during the excitement
over the Reading issues. The high-record
mark was both passed in Volume and in
prices attained. Transactions in stocks
figured for 1.s2O612 shares but sales Of
bonds reached ss04S,oo Trading was flu
'rious at the opening and the highest prices
| were reached in most stocks on the in
| itial b1ye, with adSances OF ~ 10 points
| in some cases. There were subsequent
| violent breaks on enormous realizing of
! profits. The market then became Guieter
until another exhibition of strength in the
afternoon, when the coalers and Gould
stocks got to the best. The bank state
ment, which seemed TO assure easy money,
was the handspring of the markets
strength. London opened firm, but de-
clined 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 on the stock exchange and in
the commission houses. For instance, it
was announced to brokers' customer to-
day that all orders would be taken subject
to delay, as their representative on the
floor was unable to attend to all of their
business and that floor brokers were re-
fusing 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
a block of an active issue received S20, 900
more than previously called for. Large
operators are believed TO have realized
heavily in the early dealings but there is
said to have been considerable taking back
of stock in the afternoon that had been
held earlier and round amounts OF stock
were covered by the traders.
Some Of the more sensational movements
were an advance of 10 SIS in Pittsburg, Gin
cinnat, Chicago and st. Louis, a decline
of 49, and net gain of 4 5-S Canada
Southern advanced 1o1-2 reacted 10 and
gained 3l-2 Cleveland, Cincinnati, Chi
cago and ST. Louis rose S II, dropped four
points and closed within one point of the
best. New York Central advanced Is,
of IS Manhattan rose fractionally, broke
points, rallied - points and closed
rs up.
At one time or another in the trading
there were extreme advances in the fol-
lowing stocks not previously enumerated:
Reading first preferred, 7 3-4 seconds 5. |
Pennsylvania 6 1-2. Twin City Rapid Tran
sit IA, Ontario and Western 3-S, General
Electric 3-4 -Lacka wanna ID, American
Malt ALP, Lake Shore and New York |
Chicago and st. Louis first preferred 4
each, International Paper IA, New York
Central IA, st. Louis and San Francisco |
second preferred and Delaware and Hud- /
son. 3 each, and Northwest and Western |
Union 1-2 each. After the early rise the /
heavy selling movement dropped prices |
rapidly Brooklyn Transit, Union Pacific |
st. Paul. New York Central and many |
other stocks rapidly yielding from 2 to |
points. The market became dull in the |
leadership of the coalers. Enormous pur-
chasing of Reading carried the price up |
Z ga and other coalers were lifted from
I 1-2 to Az. The movement spread to On
tario and Western, which jumped 3-S on
transactions of over 10000 shares. The
belief seemed to be that the COMPANY
would benefit by the better conditions
which were said tc exist in the anthracite
coal trade. 1t was said that a plan for
the conflicting interests in
the trade had reached . preliminary stage.
The grangers were rather quiet in the af-
ternoon. Speculative interest centered in
the specia,ties. Notwithstanding the I'M
dertone of strength in speculation mauv
shares closed notably lower. The more
prominent were Union Pacific preferred
Omaha, Federal Steel, Brooklyn Transit
Gas New York Central and
which were off from ! to I rs
while New York Air Brake suffered a loss
IF IA. The strength in Pittsburg. Gin
,innat. Chicago and St. Louis was said
% be founded on confidence that the posi-
IF the minor stockholders would lead 10
he declaring of dividends within COM
oaratively short time, or in the sale of
minority holdings in blocks The extra
squirt in Cleveland, Cincinnati.
Chicago and St Louis was on a state
nent that the vsnderbilts had acquired
he property. In some quarters the denial
" the reported plan OF the controlling in
erests in New York Central. as far as
hey relate 70 other railroad properties.
we're regarded as the essential The mar
,et closed strong.
Railroad bonds showed considerable
strength during the forenoon and record
'rices were obtained in many issues. In
he subsequent dealings the market dis
'layed considerable irregu,arity, which
continued 20 the end.
United States old fours. coupon and the
lew fves, coupon. advanced Is in the
'rice-
;RAIN AND PRODUCE MARKETS