The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-11-08
DEMAND WAS EXCITED.
On the Stock Malk:t there Was q NuSn
TO Juy StCurliies
LARGE BLOCKS CHANGED HANDS QUICKLY
ro,,mission Houses Overwhelmed
with Bnying Orders -
transactions Had No Plnce'

New York, November NO such ex-
cited demand for stocks has been wiz
messed on the New York exchange since
the boom DAYS OF the hoa,iag Of the s.
cutities Of the new industrial comDiha-
lions in the spring Of 1853 as today kept
all department. OF the stock at ieVer he"'
OF animation ana activity.
1t is rarely in the speculative world that
a preconceiyed plan OF operations "nioh
has been widely discussed in pubic re-
suits so successfully as the taxing on OIL
long stock, by professional operators lor
some time past in anticipation of the larae
demand to follow the election. The ehoit
to discount this is almost certain to over
do itself and selling to realize a 50 car
ries prices down But the rush toIay to
buy stocks was so overwhelming as to
absorb all the very large selling with 10
eject on prices.
On the opening dealings therefore there
changed hands instantly with tie eoInl-
. U
/ of Union Pacific 5000 shares oil Atcn S'h'
/ 6uOO shares Of Southern Pacinc and OF
| American steel and Wire and OF We al
thousand shares each of number o. ot1er
Important stocks This was as near al
could be ascertained by the usual methods
of records. The same stoci sud at tie
same time at prices IL points apart AID
llt ii at "A
number OF transactions was entirely lot
in the feverish excitement OF he trad.-G
Many COMMISSION houses reported int
they were SO overWne MEG Win buyl y
orders as 10 be obliged to decline t. u
dertake the execution of many tnat wee
offered to them During the carry pa 81
the day small individual transactions h
no place whatever in the tlaJing. 1t was
q noticeable fact that later III the day,
when prices were at the high level, the
small orders, Including whole strings Of
Cdd lots, began to make their app arance
on the tape. very large busin s. in
Americans had been done in the Loadon
market before the stock marke, opened
in New York. Commission houses kept
their Offices open all night and TOOK r
ders, wnich we're executed in London as
early as O'Clock, New York time For
leigh arbitrage brokers in New York es-
t.mateI that as a result of the \ W York
buying In London and the London sell
ing in New York, no less than l5o o
shares Of various stocks changed hands
, from TO eign to American owners. But
the operations by cable were largely con-
, fined to professional operators
The events Of the day in the New Yort
market proved that the great mass OF out
side SPECTATORS, which is attracted by
National political event went 10 pa {
their orders in the New York market hc
professional operators, who have beer
taking on long stock for several weeks
a. hTst threw over their holdings on a
enormous scale to take advantage OF t.
outside demand. The buying Continu
with such animation and speculative sen
ttmCnt became 50 buOyant that buying %
a large account was ienewei on a YER!
large scale by both professional and on
side spectators. The sudden re.alse
. the money market had much 10 o viii
the renewed outburst of apcculau n. 1
J became clear that the pinched conti o
:, of Monday was the outcome of COZ er a
> tive safeguards against contingent ais
turbance Of the money market, and fund
We're poured into the marke, very freely
As against the % per cent rate en- Mon
70 day the first loan today was made at
y per cent which was The hlgueat o. tn
Il day. In the late dea ings, after ne Is ma
n been largely supplied, the rate fell t.
u per cent. The exchange market pr mpt
n iesponded, demand stetling rising fan
=. 81 over Mondays nominal rate The arr
d transfer OF stock Owner ship ON 10 e g
ID 10 American hands also affected the eX
+ change market very materially
In general terms, it may be said tina
the price OF railroad stocks Is flon l l.
|. TO points higher on an age as a re
}! suit of today's trading. The move men
y in Pennsylvania was very notable, e e
in the days bread AMI active mark
a and Northern Pacific shared tn promi
nence in less degree The extreme ad
vance in Pennsylvania was IL a.
Northern Pacific / is. In the indust, Is
- department gains We're even mors mar @
n but the movement there was ia m,r
o. leverlsh and irregular. The Steel STOCK
were in the foreground and many {
them advanced between 4 and ) mt
mere was late reaction In the mars,
on proht taking, led by Sugar. On 1e
r ported cut in prices by rival refine les.
number of industrlals reacted bet,yee
ana points, but in the RAILWAYS Il
iast prices were only fraction below Ii
oest ana the market was in progress OF Il
In coyery and closet firm,
Inc bond market was quite as actiy
~ comparatively, as the stock market an
as was also very bread. although the NOR
cages with speculative value were T.
most prominent. Several OF these ro
rom to ! 81 per cent. Total sales. D,
value. $5,255,OOO =
fai Tho vi