The age-herald., 1900-11-19
WILD SPECULATION
 IN STOCK MARKET Buying Was of a Sensational
 Nature BIG ADVANCES WERE MADE Prices Reacted on Profit-T Taking, But Recovered on the Close, Which Was Strong and Active-Favor-
 able Bank Statement.
BIG ADVANCES WERE MADE

New York November H.-Yesterday' def mite resumption of strength in the securi- ties market and the evidence of large and aggressive buying for investment had an influence upon speculative sentiment to- day that the most sanguine could scarcely foreseen. Such speculative excitement as that on the change at the opening has rarely been seen in the history of that in- stituton. Brokers had orders to buy in large amounts without price limit apparent ly. Such orders were sheer recklessness on market where stocks are as strongly held as at present and the sensational advances which resulted were almost instantaneous ly lost. The urgency of the bidding gave color to the supposition that large short interest was in process of closing out by freed buying. There has been more or less short selling at intervals ever since the election and an uncovered bear account after yesterdays market was in parlous state The general advance of large frac- tion and running up to over point was imposing, but in a few individual stocks the rise was sensational. Consolidated Gas was sold for POI at the same time that 1t was selling for 194 and Tennessee Coal oponed at 76 to 771A, rising afterwards to A points over last night. General Electric jumped points, which is less than its aver age daily rise for several days.
 This speculative excess quickly brought It's penalty in the eager selling pressure indorsed by these high prices, and the re- lapse was so violent as to awaken uneasl- ness The relapse carried prices back to within a fraction of last night and i'll some conspicuous instances, notably Pennsyl- vania's prices fell below But after the ap- pearance of the favorable bank statement buying was renewed with confidence and prices were lifted again in some cases to the best, making the closing active ana strong.
 No special influence could be assigned as to the cause of the large demand, the move ment being based evidently on confidence in the comprehensive nature Of conditions, making for prosperity and large earnings in all branches of business and industry.
 The governments statement of the coun- try's October foreign trade comes as a striking item of the new industrial era. IL has become manifest that the vagar1es Tn recent bank statements must be attributed largely to the operations of trust compa- nies and other institutions outside the clearing house association. It is reported that these institutions after making large deposits of funds in banks previous to the elections have drawn freely since ana nave been large lenders in the stock market. The prospect of new war loans in England and in Germany affected our money mar ket early in the week, but with the bel1et that the issue of the loans would be de- ferred until early next year the money mar ket became easy, thus contributing to the strength in the stock market.
 Bonds have been broad and active but the principal buying has been for bonds of speculative value or with contingent in- terest payments. U. s. SIS and 5's declined 1h the refunding 2s 5s and the old As A per cent. below the call prices of a week ago.
 Ry Private Wire to Murphy 6 Col