Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-12-26
Rush Was Made to Purchase a
Number Of Special Stocks
OFFERS TO SELL WERE BIG.
sharp Decline IL Checked, and Mar
ket Continues Active-Liyc stock
and Produce Lower.

New York, Dec. 26,-There was an
other wild and excited opening on the
stock exchange today. The galleries Of
the exchange were crowded as they
have been every morning Of late, the
public being pretty sure Of an exciting
scene on the floor. There was very
large attendance Of brokers on the floor
as periods like this are the hey-day Of
the stock brokers' fortune and he has
enough business IN few hours to COM
pensate Tor many months Of idlenes5
and apathy while the public refrains
from having anything to do with stocks
The interval since Saturdays excited
and buoyant close IN the stock market
had been utilized in all the usual haunts
OF spectators and traders to exchange
all sorts OF rumors Of important new
developments affecting the value OF
stocks and without restraining influence
OF actual money prices to establish the
status OF these rumors, and In the
credulous mood Of the speculative pup
lie, these rumors had spread and grown.
The consequence was a wild rush to
buy a number OF special stocks. the
opening In these was sensational and
the sympathetic effect on the general
list was buoyant But the action Of
the market after the opening served 70
disclose the interesting fact that While
the appetite Of those without stocks
had been whetted 20 a voracious degree
there We're not wanting holders OF very
large amounts Of stocks who were VIII
ing and anxious TO part with them az
the high level of prices. Either they
were skeptical OF the rumors affecting
their stocks or they were satisfied that
IL true, the prices offered for stocks
fairly represented the enhancement In
value. The offers To sell were on such
a large scale that there were some ABB
rupt losses Of the large price gains,
and the market became more orderly
and dominated more by warranted as
sumptions and probabilities The most
sensational event Of the opening was In
BROOKLYN transit i'm which buying or
ders We're executed Cor $500 shares as
the chairman's Ravel fell. The excited
bidding ran the price up 20 SS's, which
was 5is over Saturdays price, but az
the same instant other brokers m other
parts Of the same crowd were buying
the stock for rs points lower at So.
Some OF the opening gains in other
stocks were:
Tennessee coal5h; sugar33s; ST. Paul,
"a ST. Louis Southwestern preferred,
pa and many stocks from / 10 points.
The weakness OF Northern Pacific was
an important factor In causing the
break from the opening high prices. APP
parently authentic announcements were
published OF any intention 20 retire the
preferred stock on the coming first OF
January. Failure 10 do this would take
the edge of OF much Of the recently un-
brdled speculation IN this stock, and
a break Of ga in the stock with q SYM
pathetic decline Of nearly 3 points In
the preferred resulted Tennessee coal.
81. Paul sugar and American tobacco
lost practically all their gains. Brook
Ign transit reacted 3is. and there were
net losses IN important railroad stocks
reaching from a fraction to a point be-
fore the decline was checked. and the
quieteimood came upon the market. The
market continued very active and broad
even after this shaking down. and new
points Of strength were constantly de
yeloping.