The daily morning journal and courier., 1899-01-11
EtnaMclul.
The stock Market,

New York; Jan. 10.-For the first time in the history of the stock exchange ! there was trading in over a million shares on each of two successive days to-day being the fifth million shares day in 15 years. Practically all the rail- ways, except Atchison preferred, show | ed gains of point at one time or another in the day. In the late selling movement, when the specialties were hammered, some of the advances were lost, and in special cases, as in Missouri Pacific and Kansas and Texas preferred the entire gain was wiped out. Most of the grangers touched the highest prices yet reached in the current movement. The most conspicuous advances among the railways were those of Great Northern pfd, which made an extreme gain of 5A Manhattan over and Read ings each. The extreme rise among the specialties was that of New York Air Brake 101a, while Standard Distill-
 
 State Gas were very strong. Sugar, Tobacco Federal Steel, American Spir- it's and Laclede Gas lost ground. There was tone of confidence at the opening, although there was evidence of much foreign and domestic rising, which in spots brought recessions which, how ever, were generally quickly recovered The prices of most international stocks were shaded and it was estimated that London sold some 60,000 shares, mostly Atchisons, while there were some pur- chases from that quarter of Chesapeak and Ohio and Southern Railway. AL together it is estimated that the arbi- trage business of yesterday and to-day, which on balance were sales, footed up to 190,000 shares. A number of high grade bonds were sold for continental account. Locally traders and commis- sion houses were considerable purchas- CTS of some stocks, while they realized on others. Favorable forecasts of probable action on the Louisville divi- dend tomorrow brough support to that stock. It was said that the New York Air Brake company had secured the contract for equipping, in part at least, the New York Central railroad with air brakes, and to this may be attributed the sensational rise of the Air Brake stock. Much attention was given to other specialties and the low priced railways The rise in Manhattan was accompanied by the story that the money for equipping the road with electricity had been raised and that the Walker company would get the con- tract. At one tirre some selling result ed from talk that the banks were using extraordinary discrimination in making loans on collateral. But later interviews with banks were disseminated tending to show that liberal terms were offered on proper loans. California shipments of money to this center, which had con- siderable influence oh the market last week, were said to be continued. Some ' of the most important interests in the street were prominent buyers after an early reaction. These purchases were largely confined to the grangers. This was accompanied by some realizing in other quarters of the market. The ad-, vance in General Electric was said to be on the progress made in negotia- i tions for the consolidation with the | Westinghouse company. Federal Steel | was heavy and less prominent than | usual in the days business.
 Transactions in bonds were almost | s3 GOO, 900 below yesterdays total and | there was also an absence of the Vio- lent upward movement. Profit-taking | was evident in some of the more specu- lative, but high grade mortgages were | we'll maintained and advanced general | ly Total sales s5,570,000.
 United States new As, the old is regis tered, the 5s registered declined A and the 3s E in the bid price. The 5s cou- { pon advanced $.
 NEW YORK STOCK MIRHET.