New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-12-18
STOCKSAGALN MOVE UPWARD
NEW RECORD IN 7 "IRST HOUR OF
TRADING VEST CRAY - TRANS
ACTIONS IN BROOKLYN
RAPID TRANSIT.

Wall Street had looked for a big day yesterday.
IN view Of the developments of last week IN the
anthracite situation and the favorable character OF
Saturdays bank statement, but the fact surpassed
the expectation Business opened with whirlng
inward movement of prices and the transactions
for the first hour established a new record Tor an
hours trading while the total sales Tor the day'
/ 4ss 1879 shares have been only few times sur
passed for volume Handling this enormous busl-
ness there were on the floor more members than
had been seen there previously at any one time Tor
several years condition partly accounted Tor oy
the fact that many brokers ordinarily available Tor
executing commission house orders were yesterday
fully occupied with business sent them by the DIG
banking houses.
For the buying yesterday came from all quarters,
London was a heavy buyer and the total pur-
chases for foreign account were estimated at ho'
less than 100000 shares. Capitalists and the gen
eral public bought, and the buying extended
through the whole range OF stocks on the list, with
the heaviest transactions in the low priced issues
The fact that the day the anniversary OF
that panicky Monday in 1899 when call money
shot up TO lS6 per cent, was borne In mnd Dut hau
depressing influence. for it was felt that money
conditions are at present satisfactory, and the out
look is encouraging although the possibility OF hur-
Ties before January ] is not ignored
In more than half dozen stocks the opening
quotations yesterday were wide. Round
amounts of practically all the leading stocks dealt
IN changed hands. Individual transactions ran up
10 blocks of 1900 and 5000 shares. Blocks of 1000
shares seemed to be the rule rather than the
exception Many brokers declared that they had
been so overwhelmed with the volume of orders
that they had to refuse business discriminate IN
favor of large orders. But the tape recorded
fair sprinklng of transactions in odd lots, that
is, lots Of less than 100 shares The recording of
these transactions totally abandoned for
a while in November, in the days Immediately fol-
lowing the election
In the opening squirt gains of between one and
two points generally distributed through the
prominent groups OF stocks The secondary points
Of special strength We're the Erie stocks Amalga-
mated Copper, and Cleveland. Cincinnati. Chicago
and ST. Louis. Profit taking unusually heavy
after the first bulge" but stocks continued to be
readily absorbed, though at somewhat lower fig
ures. Business widely distributed, and gains
were general. In the railway division St. Paul.
Pennsylvania, Northern Pacific common, Erie,
Delaware and Hudson. Lackawanna and the Atch-
sons made substantial gains while in the indus
trial group Federal Steel common Tinpate and
kindred stocks were exceptionally strong.
The most conspicuous feature of the afternoon
up within short time of the close the
strength and buying of Brooklyn Rapid Transit,
which was taken by houses often acting for Metro
pOltan Street Railway interests. At the same
time there what the Street regarded as good
selling of this same stock, one house disposng of
1900 shares.
Continued profit taking brought about another
downward move in the latter part of the afternoon
session, but a sharp bull move in Northern Pacific
issues helped the rest of the list and gave rmness
TO the finish.