The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1901-01-05
FINANCIAL AND COMMERCIAL
Quotations Of Staple Products in the
Leading harketS
Ne. YsrE stoeh, Mossy and Grain
narket Review

New York, January 4.-Today was one
of the most exoi5ing davs in the history
of tbs Ney York stock Exchange. Inc
matter OF recording the transactions on
the Exchange is inexact az sne De1V en~
especially In such a market al TO-DAY a'e
transactions likely TO he lost from ehs
record. But there can be no doupe IN sne
minds Of skilled observers that tne aser0'
,.ta sa,as for today exceeded anything
evar / nov n before on the Exchange Inc
reoent level Of activity has been peyonu
all nreoeaent, so that the previous record
IS rear at hand for comparison. Inc re-
corded transactions footed up l'sShsVV
shares compared with previous record OF
/. 6Ys. 9le shares on November IL, lsoo.
There have been wider price movements
than any OF those made to-day In indiviu-
nal stocks or In groups stocks, out IL
ia doubtful whether there has ever before
been 80 violent fluctuations In the aver
are price for all stocks traded In as from
the low price to the nigh price today.
The confusion during ths early hours Oh
the market while the ultimate course OF
prices was still in controversy was beyond
all descriptions and the excitemsnt
during the late period of the day when
the demand was at its height and prices
were moving most rapidly upward. war
rants the use OF the term frenzy. IL
would be useless to attempt to analyze
closely the causes underlying such as to-
days market There was a return In full
farce of all the bullish sentiment which
has stirred up the stock market for TWO
months past and which was checked Dy
yesterdays depression. There was OF
course the actual buying requirement.
from the bear element, which oyer-sx-
tended itself yesterday on the confident
assumption that a reaction was estao'
nshed and would run heightened
course. The actual buying from this ele-
ment, however, could have formed but
comparatively small proportion OF the
total transactions conducted today. Inc
sentiment at the effect Of the rebound on
current opinion was Tar more worthy OF
account. The day opened with the bears
In confident mood and they attacked ths
market with enthusiasm. The decidedly
gloomy state OF mind in the London
stock market was of material aid to them
and they were able TO force declines run
ming from one to two points at the very
outset, TIE weakness of the market was
not Immediately overcome and there were
notable losses all through the first hour.
Yesterdays sharp reaction brought In
profit taking and stop loss orders from
many outside sources. Evidence OF sup
port were sufficient in the opening deal
tngs to serve as warning to the bears
and they commenced to cover very early.
The rebound in sugar on the story OF a
settlement of the trade war was In itself
q setback for the bears. The powerful
lever which moved the whole market,
however. was st Paul. The gains in all
the stocks most actively traded in ranged
from two TO over six points. The market
cloEe1 amid Intense excitement and furi-
GUS activity with many stoess at the top
prices and rising buoyantly.
Recoveries in the bond market were not
so general as In stocks and tbs weakness
OF many railroad bonds persisted. Total
sales par value $500. COO United States
new fours coupon declined one per cent,
do registered three-quarters and refund
ing twoes one-quArtsr, old iours coupon
advanced one-quartsr.