The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1901-01-12
FEvzRlsH DAY ON 'cHANGe.
Spectators Arc sim Excited Oycr ths
Rumored Big Railroad Deais.

Spectators Arc Still Excited Over b
Rumored Big Railroad Deals.
New York, Jan. 9.-The stock market
made another demonstration this
morning OF Its amazing power Of alb
sorption and overcame in less than an
hour the heaviest and most reckless
unloading to realize profits which it
yet had encountered. Spectators who
got in the market before the phenom-
email rise of last week were eager sell
lers to take profits. This caused a drop
Of half a point to five points, the lat.
ter n Tennessee Coal. and New Jersey
Central. There were plenty of opening
advances. however, ranging from IL
to four and a half points for important
stocks, but the rush to sell completely
overbore the market. the whole list
yielding. Business bad not continued
long before the situation began to
clear. 1t was perceived that very
large buying orders were in the mar
ket. Brokers eagerly accepted all Of
fers Of stocks ct a lower level of prices.
With the anxiety of sellers relieved
they ceased to offer stock. Meantime
n embracing demand continued. re-
sult1ng in an toward trend of the
whole list. ra1.ling IRON one to Ave
points, the latter In Baltimore and
Onto. With me reacttonary tendency
oVercame and the contest between the
speculative forces settled the market
became quieter n fluctuations We're
no long, /, 50 violent or erratic, al
though prices continued irregular with
the undertone strong.
Much Profit Taking.
During the latter part of the day,
whenever n signs of a reaction de-
ycloped, the bull managers took hold
of new stocks and had no difficulty in.
making notable advance. Owing to the
m~anfpulative character OF the advance,
the high prices We're not maintained in
any case, the process of profit-taking
making inroadS upon the prices Of sew
eral points in some instances, but the
Unsuitable demand for stocks continued
in full force nj the undertone of the
market was consistently strong. To-
wards the closing hour there was sorne
added disposition to take profits, the
days rises ~ themselves Offering
enormous profits to room traders. This
caused increasing irregularity In the
market.
Stock Exchange Record Smashed.
The past week was one of unprece-
dented activity, and the present bids
fair to rival 1t in sensational develop
ments. The Acknowledgement North
ern deal, or reported deal, started the
excitement. The mere suggestion that
this deal had been consummated
caused u sharp and sensational rise in
securities of all classes, and stock ex-
change records We're smashed, the vol
ume of trading approximating 1000, 900
shares.
Then came the nnouncement of an
other ~stupendous development in the
scheme of railroad consolidation-the
acquisition by j. Pierpont Morgan,
acting for the Standard Oil party and
the Reading railroad, of The Central
Railroad of New Jersey.
This news caused an immediate re-
viyal of bull speculation, and the stock
market closed the week at abou the
highest prices of the week.
The net result OF the weeks opera
lions was an appreciation of more
than $500, 000. 600 in the market value of
securities listed on the stock exchange.
1t is interesting to note that in on
cluding the purchase of the Central
Railroad of New Jersey. Banker Nor
gan has taken a long step toward the
contamination of his plan to place the
railroads of the United States on a
Community of ownership" basis.
1t is known that the Great Northern
Northern Pacific combination, domi-
mated by the Morgan party, will guar
antee fixed dividends on the stock of
the st. Paul company, and hat the
same interests, plus the Reading rail-
road, will guarantee fixed dividends on
Jersey Central toc