Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-24
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, Jan. 23.-Speculation In
stocks to-day passed previous high res
ord marks, both in volume and in
prices attained. Transactions in stocks
figured for i,620, 900 shares, and the sales
of bonds reached $9,Qi6,000. Trading
was furious at the opening and the
highest prices were reached in most
stocks on the initial bulge, with adj
vances of to 10 points in some cases.
There were subsequent violent breaks
on enormous realizing of profits. The
market then became queter until an
other exhibition of strength in the at-
ternoon trading, when the Coalers and
Gould stocks got 10 the best. The bank
statement, which seemed To assure easy
money, was the handspring in the mar
ket's strength. London opened firm. but
declined on operators taking profits.
and then steadied on curb transactions.
The extent OF the public'S interest i'll
the market was reelected by the congeS-
ton Of business on the stock exchange
and in the commission houses. For in
stance it was announced to Il brokers'
customers to-day that all orders would
be taken subject to delay as their rep
resentativc on the floor was unable to
attend to all of their business, and that
floor brokers were refusing orders, as
they had more on their hands than they
could execute. 1t was the usual thing to
refuse to accept stop loss orders, as the
lIdulUB WIS lOO NlpIcnl W guarantee
their execution. An incident conveying
an impression of the extent of the early
advance was that of II customer who
had given an order to sell n block of an
active Issue, and who received $50 900
more than the order called for.
owing to the violent rise while the
order was being executed. Large ope-
rators We're believed TO have realized
heavily in the early dealings, but
there was said to be considerable talk
Ing back of stocks I'm the afternoon
that had been sold earlier. and round
amounts of stock were covered by the
traders. Some of the more sensational
movements were an advance Of 1853 In
Pittsburg. Cincinnati. Chicago, ana St
Louis to IS. n decline of Is, and ne;
gain of 4Hk. Canada Southern advanced
10M reacted 10 and gained 3lh
c., c.. G. and st. Louis rose SK. drop
ped four points and closed within one
of the best. New York Central advanc-
cd 3B. fell back 5h, and ended with
net loss of Is. Manhattan rose frac-
tlonally. broke points. rallied Az. and
closed x up. AT one time or another in
the trading there was extreme advan-
ces in the following stocks, not pre-
viously enumerated:
Reading, first preferred, tx, seconds.
b; Pennsylvania. 6R Twin City Rapid
Transit, 5h: Ontario and Western, 53s.
After the early rise the heavy sell
ing movement dropped prices rapidly
Brooklyn Transit. Union Pacific and
st. Paul, New York Central and many
other stocks yielding from 2 to 3 points
The market became dull in the after
noon. but livencd up later under the
leadership of the Coalers. Enormous
purchases OF Reading carried the price
up IA, and other Coalers were lifted
from 1lA to AZ. The movement spread
to Ontario and Western, which jumpod
52s on transactions OF over 200 600
shares.
The belief seemed 10 be that the com
pany would benefit by the better con-
ditions which were said to exist i'm the
anthracite coal trade. The Changers
We're rather quiet in the afternoon
Speculative interest centered in the
specialtles. Notwithstanding the under
tone of strength in speculation many
shares closed notably lower. The more
prominent were Union Pacific prefer
red Omaha Federal Steel Brooklyn
Transit Consolidated Gas. New York
Central and Glucose. which were OF
from to 17s. whNc New York Air
Brake suffered a loss of 81 The mar
ket closed strong.
Railroad bonds showed considerable
strength during the forenoon and rec
ord prices were obtained in many is
sues.
In the subsequent dealings tho mar
Ket displayed considerable !rreGulari.y
which continued To the end
United States old As coupon and the
BIS coupon advanced Il I'm the h!d price.
The total sales OF stocks were eco GOO
shares.