The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-12-23
STOCKS IN THE EAST
Wild speculative Orgy MARKS
the Entire Session.
MARKET is ANOMALOUS
NO SPECIAL CAUSE RESPONSE
BILE FOR THE BUoYANCY.

New York. Dec. 22-Todav's speculation
IN stocks took OF something OF the sat
urnallan shirt that attaches 10 the
HI-stiIits holld1N celebration by inner
rance from anclent pagan customs To-
oaN performance in the STOCK market
cannot be adequately described otherwise
than as a speculative C-gy Individual
considerations that might attach TO spec
lat stocks and affect their value. were
apparently taken 10 account of, and
there was d wild scramble TO buy all sorts
Sllu condltloIS Ok stocks, as though al
future hopes of wealth and prosperity
qeDended on an OWNERSHIP of stock be
toFe christmas There was no news of
IMPORTANCE to put any new phase on the
question OF values. present or prospect
I've. The buying seemed TO represent the
cumulative effect upon financial senti-
ment of the imposing rise in prices during
the week and the apparent undiminiShed
confidence manifested bv the large capt.
JaiiStS by their continued large absorption
OF securities. Al the fall of tie hammer
on the chairman desk this morning,
19-utu shares OF Northern Pacific were IN
StantlN bought IN a single block. First
transactions in number of other import
ant stocks ranged from $1,000 shares to
I.2Q0 shares.
With a gigantic Oh istmas tree, decked
out with gliUrering ornaments and feS-
toonS Of Christmas greens and bunting
waving over the floor of the exchange,
the brokers bought 0ck with as much
abandon as though they were part of the
CHRISTMAS celebration and the gaiety ct
the occasion depended upon it, The mar
ket apparently ran Wild and was ouieted
only by an accession of selling orders in
Vited by the extreme advances attained
bV some stocks But the buying was re
sumed in the last half hour after the bank
statement appeared and number OF
stocks were rushed 10 the top level of
the day. The closing was animated and
rregular- Some Of the extreme advances
We're; sugar. 53s; Brooklyn Transit, As;
General Electric. 4; ST. Paul, rs; Peoples
Gas. 2ss, and a very extended list of
stocks from ] TO points
Review of the Week.
Only general conditions and causes can
afford adequate explanation for such a
stock market as that of the past week.
Particular events and Developments may
De accepted as stimulating causes. or as
unlocking Nascent forces that have lat
slight impulse 10 bring them into lire
That impulse came from last Saturdays
statement Ever since that time the
market has shown continuous animation
and variety The opinion has Keen uni
Versal in Wall street that a rise in prices
would come in January. after the yearly
financial settlements had been concluded
and the funds disbursed and dividends
and interest we're seeking reinVeSIment,
but there was great dread of squeeze
oI money rates al the end OF the year, as
the requirements TO be met are the larg-
est ever known in our history The an
aloSy or last year $ severe panic, when
cali loans rose TO IS6 Der cent and stocks
had 10 be thrown over at any sacrifice to
- meet called loans was wildly present in
the minds of everybody in the vicinity of
Wall street The spirit of caution was
50 deep that even the strong evidences OF
widespread buying of railroad stocks by
bankers and conservative financial inter
estS failed 10 attract d general follow
ing Their presence on the market was
also looked at with suspicion and il was
alleged TO be due TO manipulation with a
view 10 trap the unwaTy into speculative
commitments In stocks which would have
10 be sacrificed before the end of the
year.
Money is Easier.
Conditions during the week have grown
appreciablv easier in the money market.
Inc sub-treasurN operations have con-
tributed TO the money market instead of
taking from il as hast week Pension
payments have reached the maximum for
tiie month and there have been longer
payments ON ASSAY office checks for gold
deposited at Pacific coast points With
the aDDrOach OF Dec p. which terminates
the period for refunding. government
bonds into the new tWOS. there has been
q rush of bonds to the sub-treasury for
transfer. and lhe payment Of premiums
on these has been an important item in
TcDleniShing the resources of the banks
Money has been loaned for account of
banks and financial institutions outside of
New York on a very la &c scale. These
institutions keep large part Of their re-
serves on deueSjJ in New NCrk clearing
ho}.se banks and their drafts on these de-
DOSltS IN the course OF placing loans dc~
count o. the heavy ShTlnkage IN the loan
and deposit items OF New York banks
Sentiment Il not an entire stranger 20
joiCjne over the prosperity which an act
i've quiz market brings 10 the stock eX-
chang district have played their part III
keeping uD ire enthusiasm Inc marker
quite baIGies detailed analysis or deScTlD-
tion. IN the aggregate number of shares
dealt In IL has been exceeded on former
occasions. but III the breadth and va
rietv of the dealings il passes beyond ali
previous experience The market seemed
capable of absorbing any amount Of Of
feriugs without at all impalrlug It's great
animation and underlying strength.
The railroad bond market has been' ac-
tUated by sympathy with the stock mar
keU- The low grade issues nave been the
favorites and have moved strongly uo-
wards with occasional reactions from
speculative profit taking T. ;. = ad-
Vanced -. old j. and 5s = and IS regis
tered z. Uer cent. The new Is declined =
below The ruling call prices OF week
Bond Quotations
i-sad Be- - ; ~n, Nos \ \ & & Il IS , s.
issued coup .105l4 No. Pacific B -. ia.
Il : s. reg DO No Pacific Is 1855
L. = IS coup no y y. g. x ST.
l. 5 n. Is eo61p.iSS y, & ". con. Is. $Ss.
L. \ 3D. Is Teg.-ll5 ore Nav is LII
l. ;. @. - coup-ll6 ore Nav. + ...-1O25s
I. :. Js reg ----IlAe .. :. L 6s .--..1295s
l. :. IS COUP 1881 o. : l. con. 5s- -flN14
D. OF g. 3 65S--.-l-3 Read. gen. Is "a
Atchi- gen IS .lt=es r. q. w. Is .--.-l0l
Atchi. adj. 81 ssh 81 T. & /. NJ.
Can. So. Is --.--. lH5 con. - .-..-. .II4ta
u n ONO 4-z~ .-i'ft-f 81 L. = +.
&. < OHIO 1-oAs gen. IS ........13D
c. < y. w con. ST Paul con...-.1S0
= .------- .15als ST p q. < p. Is 1898
&. x X. ". :. r. ST =. 4. & =. 5s. 122ls
Deb. - .-......113 50. Pacific Is o.. S2ss
chi. Ter Is ..... - So. Railway AZ. .I4l4
Colo So. 4S 5000 ~ : r. & r. SIS. =
j. & r q. S-1nl@l r & Pacific Is ia
Erie gen 4s go. S54s T. & Pacific Is. 50
1T. ". < ID. G. Mon Pac Is .111a
Is go ..----.---- Nlla Wabash Is .----1tt44
Gen. Elec - .-.154 Wabash - lies
Ia. Central Is .-1l5l4 West Shore As ..1142.
J. < y Uni. Is 1Olis Wis. 'eutraI is ST.
n *. * Il. Is. as W INJURIES .- 50
Stock Gu, lions.
Atchi~ou -.....-- +6ls ~ abaSh --..-.... j
Preferred ----- SI1si Preferred 600. -
= & Ohio -.--.-- SIS ". K l.. E.. 13I.
can. Pacific ...- 1886 Second Dfd..... 51as
Can Southern. aSi2 Wis. Central .. I6l4 /
q. & Ohio .----- 4lSs Third Avenue ..I17
q. q. " .------- % b. x .. Dfd..... -
g. B. & Q--...--1il44 Natl Tube ... 63lt
. ]. & L...,-... gig Preferred .....1U3if /
Preferred 1890 az Adams Exp --.-150
G. & T. l------- % 4 M EXD ...-...-1S5
{. d y W-------lbS T. = END-----..- IS
c. r T. 4 Piss W. T. ExD.......la6
4. 4. e.. & ST. L. ,We Am. Cotton Oil. -
Colo. Southern Preferred ....- 81
F'irSt ed ------ 45is Am Mailing ... 81
second pfC----- lS Preferred 1890 2524 /
Del g. Hudsou--l22 Am. :. & r.. 5fzl /
ID T. a. W----.ll Preferred 900. 95il 5 /
i. * II. Co.. -tss Am. Spirits .-..-
Preferred ...-- 81 Preferred 1890 u
TrH-f. IN E4aa