The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-08

NEW YORK, Nov. -1-No such excited
demand for. stocks has been witnessed
on the stock exchange since the boom
days of the hoata ton of the securities of
the. new Industrial combina tons in the
spring Of 1899, as tocay, kept All depart
ments of the stock exchange at a fever
heat of animation and activity, If is
rarely in. the speculative world that a
preconce1ved plan of operations which has
SO successfully as the taking on of long
stocks by professional opera tors for some
time past in anticipation of the large de-
mand 70 follow the election. The effort
to discount the result is almost certain to
overdo itself and the food of selling to
realize over carried prices down on the
hut 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 instantaneousIv with the
sounding of the gong no Itss than Il 200
SHARES of Union Pacific, S,093 shares of
and of American Steel & Wire. and sew
era1 thousand shares each of a number of
other important stocks. This was as near
as could be ascertained by the usual
method Of records. The same stocks sold
at the same time at prices ~ points
apart, and it was believed that the rec
was entirely lost in the feverish excite
commission houses reported Ni that
buying orders SO as to SeT be abded with tn
decline to undertake the eSecnt5on of
many that were offered to them. During
the eorly part of the day small individual
transactions had no place whatever in
the trading. It was noticeable fact that
later in the day when prices were at the
n1sa leXei. the e sglal Il orders. including
their appearance on the tape. 4 very
large business had been done in the Lon
ed in New York. Commission houses
Kept their office open. all night and took
orders, which were executed in London as
early as o'clock New York time. For
Ilnated that as result of the New
YORK buying and the London selling in
New York, no less than 15G,000 shares of
various stocks changed hands from for
eign to American owners. But the oper-
atfonS by cable were largely confined to
professional Pro 4 opera tors The events of
great mass of outside spectators, which
is attracted by a national political event.
wanted TO place their oders in the New
YORK market. Professional operators who
nave been taking on long stock for sew
eraI weeks past threw over their holdings
on an enormous scale to take advantage
OF the outside demand. The buying CON
tinued with such afaiu1atfon and specuIa-
tive sentiment became so buoyarit that
buying for long aeepaInt was renewed on
a very large scale Shy both professional
and outside spectators. The sudden
relapse IN the money market had much
TO do with the renewed outburst of spec
condition of Monday was the outcome
OF conservative safeguards against con-
tingent disturbance OF the money markets
were poured into the market very freely
As against the Is per cent rate on Mon
day, the first loan today was made al (
per cent, which was the highest of the
Gay. In the late dealings, after needs
had been largely supplied. the rate fell
to j per cent, The exchange market
PROMPTLY responded, demand sterling
rising fully 4 over Mondays nominal
rate. The large transferred stock own
/ ership from foreign to American hands
also affecte the eEelsa41se market very
said that the price Of railroad stocks are
from two to five points higher on an av-
erage as result Of today's trading. The
movement in Pennsylvania was most no.
table, even in the days broad and active
| market, and Northern Pacific shared this
prominence in less degree The ex-
points, and in Northern Pacific 3zs. In
the industrial department gains were
| even more marked, but the movement
| there was far more feverish irregu-
| lar. The steel stocks were in the. fore
ground, and many of them advanced be-
! tween 4 and points, There was a late
| reaction in the market on profit taking
| by Sugar on reported cut in prices by
| rival refineries. A number of iudustri-
ais reached between one and two points,
| but in the railroads the last prices were
| only a fraction below the best and the
| market 1a was in process of recovery and
| Ihe bond marketzHas quite as active
| comparatively as the stock market, and
was also very broaas although the mort
| cages with speeu1atEVe value were the
| most prominent. SeBera1 of these rose
| from l to "a per cert Total sales. par
| value. 5.255, 600 ISnitea States reminding
| Is, the old IS and S. advanced Il, and
new Is u per cent kofls@the last cali
| STOCK QUOTATIONS.
| Furnished by Charles H. f. Smith g.
| Co, members of thesNew York Stock yex-
| change, Pioneer Press building, who have
| direct wires to Chicago and New York.
| Closing prices are bid: