The age-herald., 1900-11-08
VERITABLE BOOM IN THE STOCK MARKET Mad Rush to Buy Kept Things
 at Fever Heat WHOLE LIST WAS ACTIVE Many Shares Changed Hands-Brokers Kept Open Doors All Night and
 Bought in London Money
 Market Again N ormal
WHOLE LIST WAS ACTIVE

New York, November 7-No such excited demand for stocks has been witnessed on the New York Stock Exchange since the boom days of the Notation of the securities of the securities of the new industrial com binations in the spring of 1899 as today kept all departments of the Stock Exchange at a fever heat of animation and activity. It is rarely in the speculative world that a preconceived plan of operations which has been widely discussed in public result so successfully as the taking on of long stocks by professional operators for some time past in anticipation of the large demand to follow the election. The effort to discount the result is almost certain to overdo itself and the flood of selling to realize often car ries prices down on the very elimination of favorable event. But the rush today to buy stocks was so overwhelming as to absorb all the very large selling with no great effect on prices.
 In the opening dealings there changed hands instantaneously with the sounding or the gong no less than 15,0OO shares of Union Pacific, 5000 shares of Atchison, 6000 shares of Southern Pacific and of Ameri- can Steel and Iron and 1000 shares each of number of other important stocks. This was as near as could be ascertained by the usual methods of records. The same stocks sold at the same time with prices 113 points apart and it was believed that the record of a large number of transactions was entirely lost in the feveriSh excitement of the trading. Many commission houses reported that they were so overwhelmed wilu buying orders to be obliged to de- cline to undertake the execution of many that were offered to them.
 A very large business in Americans had been done in the London market before the stock market opened in New York. Com mission houses kept their offices open all night and stock orders which were exc cuted in London early as o'clock New York time were received. Foreign arbi- trage brokers in New York estimated as result of New York buying in London and the London selling in New York no less than than 150,GOO shares of various stocks changed hands from foreign to American owners.
 Tn events of the day in the New York market proved that the great mass of out side speculators, which is attracted by a national political event, waited to place their orders in the New York market The professional operators who have been talk ing on the long stocks for several weeks past, threw over their holdings on an enor- nous scale to take advantage of the out side demand. The buying continued with such animation, and speculative sentiment became so buoyant, that buying for long account was renewed on a very large scale by both professional and outside specula- tors
 The sudden relapse in the money market had much to do with the renewed outburst of speculation It became clear that the pinched condition of Monday was the out come of conservative safeguards against contingent disturbance of the money mar ket, and funds were poured Into the mar ket very freely. As against the 25 per cent rate on Monday, the first loan today was made at per cent, which was the highest of the day. In the late dealings, after needs had been largely supplied, the rate fell to l per cent.
 In the industrial department, gains were even more marked, but the movement there was far more feverish and irrgular. The steel stocks were in the foreground, and many of them advanced 4G5 points There was a late reaction in the market on profit taking and number of industrials reacted between 1 and points.
 The bond market was quite as active comparatively the stock market, and very broad. Total sales, par value, s5,255,- O0O.
 United States refunding 2s, old As and 5s advanced H. and new As, F per cent on the last call.
 New York; November 7.-Money on call easy at 1Q5 per cent; last loan 2; prime
 
 change firm, with actual business in bank CTS bills at A.S4s for demand and $4S03s for 60 days Posted rates A .S1@4. .S114; com mercial bills $4. .791s@4,S 80.
 Silver certificates 63%. Bar silver 63H. Mexican dollars 503s
 Government bonds steady. State bonds strong. Railroad bonds strong.
 t Financial
 New York, November 1.-The Commercial Advertisers London financial cablegram says:
 Americans" dominated the markets here today. They were first, the rest were mo- where. The triumph of MT. Mckinley aroused the greatest enthusiasm. The market, which opened at g o'clock, was surprised by heavy realizing sales from New York, but London easily absorbed all these offerings. although the public was not prominent as purchasers. The profess sionals regard the Republican majority in the House of Representatives as a power full factor, and investors are expected to come into the market for American bonds considering how much they yield, while stocks are thought to be relatively more attractive. The continent did little, but the market finished buoyant and active although 1t is said that the business done was much less than that transacted after the election in 1S96
 The bank lost f15O0OO gold to Egypt and a small parcel of gold was taken for the