The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-24
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York, Jan. 23.-Speculation in
stocks to-day passed previous high-record
marks both in volume and in prices at
tanned. Transactions in stocks figured for
. 1920, 900 shares and the sales of bonds
reached s9046,0O0 Trading was furious at
the opening and the highest prices were
reached in most of the stocks on the ini-
tial bulge, with advances of 5 to 10 points
in some cases. There were subsequent vio-
lent breaks on realizing of profits. The
market then became quieter until another
exhibition of strength in the afternoon,
when the coaers and Gould stocks got to
the best
The bank statement, which seemed to
assure easy money, was the handspring
in the marked strength. London opened
firm but declined on operators taking
profits, and then steaded ON curb trans
actions. The extent of the public's inter-
est in the market was reflected by the
congestion of business in the stock ex-
change and in the commission houses.
For instance, it was announced to a
brokers' customers to-day that all orders
would be taken subject to delay, as their
representatives on the floor were unable
to attend to all of their business and that
floor brokers were refusing orders. as
they had more on their hands than they
impression of the early advance was that
of one customer who had given an order
to sell a block of an active issue, and re-
ceived $4,000 more than the order called
for
Large operators are believed to have re-
called heavily in the early dealings. but
there was said to be considerable taking
back Of stock in the afternoon that had
been sold earlier and round amounts of
stock were covered nv traders
Some of the most sensational move
ments were an advance of 1885 points in
Pittsburg; c. c., c. & st. L., a decline of
Is points and a net gain of AS; Canada
Southern advanced 101a, reacted 10 and
gained 31s; c., c., G. & st. L. rose S1A,
dropped 4 points and closed within 1
point of the best. New York Central adj
vanced as. fell back 81 and ended with
net loss of x. Manhattan rose fraction
ally, broke points, rallied Az and closed
* up.
At one time or another in the trading
there were extreme advances in the fol-
lowing stocks, not previously enumerated:
Reading LIST preferred, IN 2ds, g.; Pennsyl-
vania, 61a; Ontario & Western, 5as: Cen
eral Electric, AZ; Lackawanna, AZ; Amer
lean Malt Az; Lake Shore and New York
Chicago & St. Louis 1st preferred, 4 each;
International Paper 81; New York Cen
trail, 3A: st. Louis & San Francisco I'd
preferred and Delaware & Hudson, 3 each;
Northwestern and Western Union, az
each
After the early rise the heavy selling
movement dropped prices rapidly, Brook
lyn Transit, Union Pacific, st. Paul, New
York Central and many other stocks
yielding from to 5 points. The market
became dull in the afternoon, but livened
up later under the leadership of the coal
ers.
Enormous purchases of Reading oorriad
the price UP tx. and other coalers were
lifted from " to ". The movement spread
to Ontario & Western which jumped 53s
on transactions of more than 200 600
shares. The belief seemed to be that the
company would benefit by the better con-
ditions which were said to exist in the an
thracite coal trade 1t was said a plan
for harmonizing the conflicting interests
in the trade had reached a preliminary
stage.
The grangers were rather quiet in the
afternoon. Speculative interest centered
in the specalties. Notwithstanding the
undertone of strength in speculation,
many shares closed notably lower. The
more prominent were Union Pacific pre-
ferred, Omaha, Federal Steel, Brooklyn
Transit. Consolidated Gas and Glucose,
which were off from 10 to Us points, while
New York Airbrake suffered a loss of 81
points. The strength in Pittsburg, Chi
cago Cincinnati & ST. Louis was said to
be founded on the idea that the legal po-
sition of the minority stockholders would
lead to the declaring of dividends within
a comparatively short time or in the sale
of the minority holdings in blocks. The
extraordinary squirt in c., c., c. & st. L.
was on a statement that the Vanderbilts
had acquired the property. In some quar-
tiers the denial of the reported plan of the
controlling interests in New York Cen,
a ia to ntl