The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-11-18

The Stock ExCh0m9e.
NEW YORK. Nov. n.-Yeterday's definite res
sumption Of strength in the securities market and
the evidence Of large and aggressive buying for in
vestment had an influence upon speculative senti-
ment today that the most ssnguine could scarcely
have foresecn. Such speculative excitement that
at the opening has nreiy been seen The brokers
held orders TO buy in iarss amounts without any
recklessness In market where stocks are as strong
~ held as At present. and the sensational advances
which resulted were almost instantaneously lost
The urgency Of the bidding gave color TO the sup
position that large short interest was in pro-
cess Of closing out BY forced buying. There has
since the election and uncovered bear accounts
were In periious state. The general advance OF
large reaction and running up to cover point
wns imposed. hut in few individual stocks the
rise was sensational Consolidated Gas sold for
Dol At the time that IL was selling for 1884,
ward to az points over last night. General Flee
trio jumped points, which ia less than Its
age daily rise for several days This speculative
selling pressure indnced by those high prices and
the relapse was 20 violent to awaken uneasiness
Ihc relapse carried prices back 70 within fraction
ably Pennsylvania, prices fell below. But after the
appearance OF the favorable bank statement buy
ing was renewed with confidence and prices were
again lifted in cases to the best, making the
closing active and strong. No special influence
could be assigned as to the cawe n the large do
mand. the movement being based. evidently
confidence in the comprehensive nature Of condi
lions mailing for prosperity and large earnings in
been considerable abatement this week in the in
ordinate speculation in stocks which threatened
last week to extend TO reckless extremes. and to
run the money market into squeeze by putting
too n,ueh money in speculative holdings Of stocks
Selling to secure profits by the cautious
and increasing boldness IN the bear attacks on the
market at last caused reaction. This forced out
some OF the weak speculative accounts which made
the market topheary and discouraged the headiong
rush OF outsiders to buy. The class Of spectators
whom nothing attracts hut sensational upward
surge Of prices has been much ess in evidence this
L.t4s
Of buyers has been waiting for the reaction In prices
to into the market confident IN the intrinsic
,ains OF securities and the soundness o. the in.
transportation initiating the prices Of stocks
and endangering the stability Of values
The market has thus found active support at the
decline and has regsined its equilibrium. The fact
that registration exact record is made uf
transactions on the stock exchange except by the
parties Immediately concerned. gives the spportu-
nifty for unwausnted statements regarding the pro-
portions Of the market On Monday Of this week
tho total sales isss,uoo shares. according TO
the most reliable estimates while for the week cod
ing Tuesday evening conservative estimates show
that more shares were sold than in any previous
period in the history Of the exchange. The total
amounted 20 7sA. 9i shares For the week ending
January n, 1899. the aggregate sales were T.i32sss
shares As fer bond sales the total has not reached
IS oc 600 EAR value on any day since the election
while the record stands AZ about sll. 900 par
value As for the record Of sustained periods Of
activity. the saics Of stocks constantly oyer
million shares day in January. 1893 During the
same period the bond sales between SO On coo
and Sfr,A4,U B week, par vdlue. An almost equal
ly sustained bun market was that of April. 1872
when the hurdles of industrial securities were
offered the market II will thus 10 that
the speculation has hardly attained the unbrdled
character Of former periods. The memory 81
the results following the speculation Of 1879 in In
dnstrfals bas not been without influence this week
IN Wall street. An apprehension came up In tho
street after the collapse ~ the industrial boom in
1879 that those properties a. class would have 70
10 through an experience similar to that az rail
road companies following the excuses of raptt2i-
zation and stock tubhing ~ the construction
The list Of American railways that have been in
bankruptcy aud reorganization IS lone enc. The
standards established consequently. Of publicity
and information regarding expenditures. revenues
finances OF railroad companies and the light given
70 purchasers Of the stock and Lenders Of money
formation allowed to tho public regarding the great
Industrial combinations THIS IN many eases "a
canfned 10 hare statements Of net earnings The
effect upon public confidence q evident from the
ipw prices IN the market q many u The industrial
storks on which svcd dividends are PAID and for
which sufficient earnings are reported 20 cnnttnue
dividends The general fnosiesss Of revival q
prices for the product a the Industrial combines
have ai.spascd sume % the distr;et felt t1wArd
them The absence as rule. 81 heavy fxed charges
dsn,s on ssscks o. indaseais however. meets some
objections 10 them.
THE prospect n new loans ia ENGLAND and
in Germany arretgd car MONEY market early IN the
week bat with the belief that the issue a the
toans would be deferred unth early next year the
influence passed. snd the money rArkei hecAme
eaSler thns contributing TO TIE returning strength
IN the stock market
tv. the principal busing has hcsn bonds q spcci
fafive saisr OF With cortsnsrut intcfes. pAyueu;s
Tnitea states Il aud j. declined y the refund
usSces Il week age The new IS aasAsoed = per
cont