Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-12-19
Wall Street Market Was Furious
Iy Excited
BULL ENTHUSIASM HIGH.
Extraordinary Dealings OF Today
Uncertainty PrevaiIs-Llve Stock
Higher-Produce Easy.

New York, Dec 9-speculative ex-
element continued in Wall street to-
day, and the extent OF the interest in
stocks, and the long continuance Of the
advance, exceeds almost all precedents
in the history Of the street Many Sc
curitles are selling at prices never be-
fore equalled, and yet show no signs Of
q halt.
With each days successive bulge
large short lines are put out and holders
Of long stock among the professional
operators unload on a heavy scale. in
the fear that time hash arrived which
Justiies the maximu popular In Wall
street that prices cannot always go up.
but I'm the current movement the bears
have been obliged to buy again TO COW
er at a higher level of prices and the
sold-out bulls have had TO wait in vain
for reaction TO get into the market
again.
These conditions were quite evident
I'm today's market. Prices opened with
an upward rush on the influence Of the
enormous buying I'm q few special
stocks, Examples were 1900 shares Of
Southern Railway, 5000 shares OF
Southern Pacific, 1900 shares Of Erie
first preferred and so on, each at ad-
yances Of a point or more over last
night. and at wide quotations, vary
ing a large fraction on simultaneous
sales, The bullish enthusiasm was az
a high pitch. Then came the lnevita-
bic unloading Of the proht-takers, and
the attack by the bear traders work
ing for reaction. But the backward
course OF prices In stocks, where this
was going on, was not allowed 70 affect
the continuance of speculation, for
rise at other points and new points Of
strength continually developed as to
buying shifted from one point OF the
market 10 another. The ability OF q
market 10 absorb large speculative H.
quotation al one point without discour-
aging the new buying demand at other
points is one OF the most striking evil
dences OF IT'S breadth and strength. The
indispensable demand for the Erie
stocks continued the feature Of the
market In other quarters sudden adj
vances We're followed by relapses and
losses were easily recovered withoutaf-
fecting the enthusiasm
MARKET DETAILS.
New York, Dec 1.-THE market
opened fur0usly active and al general
advances. There were extraordinary
dealings In q number Of individual
stocks. Southern railway common ad-
vauced an extreme point On running
sales az l200o shares. ad sales of 5000
shares OF Southern Pacific carried that
stock up ~ at the highest. Erie first
preferred continued It's notable advance
u u NJ tH ha fra 9. 4
000 shares. Gains OF a point or over
were made by Sugar Brooklyn Tran
sit. Southern Railway preferred. New
York Chicago q 81. Louis: Erie. Kan
sas & Texas National Steel and Amcri-
can Tin Plate The gains elsewhere
We're quite uniform, and without regard
20 the heaviness in some portions Of the
department Profit sales promptly be-
came evident, and had a restraining in
fuence There were further advances IN
special stocks and the market was SO
broad and the general demand so strong
as 10 make proft-taklne easy. Before
the end OF the first hour there were re-
actions Of point or more In Now York
Genital Sugar, Tennessee Coal Federal
Steel, American Hoop New York. Chi
cago & ST. Louis Rubber Erie second
preferred, O. G. S. a 81. Louis, and a
lew Ut HlN NltiiNI STOCKS, New YORK.
Chicago a ST. Louis second preferred
continued strong az an advance 81 over
TWO points, and Lake Erie and Western
jumped 3 points Members OF the
Changers trunk lines and Paclhcs went
below last nights closing New points
OF strength developed In the second
hour besides an extension IN the Erie
second preferred's rise Of 2lL. General
Electric gained az and the Tobaccos
all advanced. led by American Tobacco.
The Readings Ontario a Western and
Norfolk & Western moved upwards.
Meantime earlier advances were not
maintained and reactions widened 70
between lG2 points In prominent stocks.
Glucose lost 2ik the preferred 81 New
York, Chicago & 81. Louis second pre-
ferred ~ and Rubber preferred 3.
Some Of the prominent railroad stocks