The Washington times., 1902-10-01
THE MARKET CLOSES
AT HIGHEST PRICES
Fluctuations With an Up
ward Drift De0elop Into
Almost Actual WIldneSS
in he Last Hours.
Afchrson Leads in AcfiOifp-
Reaction FoNowS Rise, BIT
a Rally and Aduance Re-
suH-L. 6 ~. Cams.


NEW YORK, Sept. S0.-A greater con-
trast to the course of prices and the
sentiment of the financial community
than occurred yesterday and today has
rarely been witnessed. The price cur
rents today were as violent, the dealings
as excited, and the turmoil in Wall
Street as great as was the case yester-
day, but the drift was upward, and near
the close the market verged on actual
wildncss.
Only two influences were operative.
These were the extraordinary financial
relief measures proposed by the Secre-
tary of the Treasury, which are far
reaching beyond all precedents. and the
wish that was apparently the origin of
the thought that the anthracite coal
strike had been settled" The rumors
regarding the strike were based upon
reports from Washington of conferences
between President Roosevelt and high
Government officials, the result of
which, it was suggested, might be sum-
mary proceedings to compel settle
ment of the strike.
Equally Indefinite
The other report was equally indef-
mite, but number of the speculative
contingent were in semi -hysterical
condition, ready to credit almost any
suggestion, owing to the revulsion of
sentiment caused by the rapid and ex-
tensive upturns in security prices. The
anthracite coal presidents held their
usual weekly informal conference to
consider the strike situation, but re-
ported upon adjournment of the meet
ing that so far as the operators were
concerned the situation had not
changed.
The aggregate of transactions was con-
siderably in excess of yesterdays total,
and was remarkably we'll distributed
Atchison led with nearly 100000 shares.
closely followed in point Of activity by
Union Pacific and Reading common, fig
ured as half shares. The next heaviest
transactions occurred in Southern Pa
cific, Louisville and Nashville. Missouri
Pacific. and ST. Paul common, and rec
OIQS Ol lo,vUU " Ou.vuV WCAS CO
tablished in a number of issues.
Gains at Opening.
The early prices showed gains over
yesterdays closing figures of anywhere
from to points in great majority of
the list. After the first upward rush
the market became unsettled for time
by the high rates for call money, which
occasioned surprise.in view of the ex-
pectation of the release OF many millions
of dollars in cash. The result was a
general reaction, avera ging about 2 per
cent from the early extreme high level.
The opening rate for call money was
As per cent, and the extreme high figure,
Is per cent, the average being 10 per
cent. At the close the nominal rate was
Is per cent
London contributed higher quotations
for American securities, and the pur-
chases for foreign account in this mar
ket on balance were estimated at be-
tween 10000 and 40, 900 shares, and were
: distributed throughout the group of in
fernationally listed stocks.
L. & Ms Recovery.
In the reaction from the early high
4gures noted above, Louisville and
Nashville was conspicuous by an ex-
ceptional decline of about points. In
the afternoon, however, in sympathy
with the strong up current in the whole
market, the stock made a full recov-
cry. 1t ended 81 points above yester-
days final, at the highest figure of the
day.
In the general railway list the great
est net improvement was enjoyed by ST.
Paul common. 9A points. Reading
gained ~ per cent. closing at slight
fraction below the best. Other con-
spicuous final improvements included Z
per cent in Illinois Central. in St.
Paul preferred, in Pennsylvania, and
per cent or more in Baltimore and
Ohio, Delaware and Hudson. Lackawan-
ma, Manhattan Railway, and Union Pa
ciic.
In the other usually prominent rail
way shares the result of the days oper-
asions was net advances of 2G4 per
cant. In the miscellaneous stocks the
conspicuous rally was that of points
IN North American.
In the industrial list there were nu-
0erous gains OF to per cent. the last
IA General Electric.
In Other Markets.
The railway bond market was fairly
active and displayed strength in sym
pathy with the Improvement in the stock
Hist.
The curb market opened strong at ad-
nnces ranging up to 31s per cent in
the more active issues. A reaction fol-
lowed, but In the late dealings strength
again developed, and the best prices
were recorded at the finish.
The stock market closed buoyant at
er near the best figures of the day for
. majority of the list.
New York Stock Exchange, Sept. 3o
The following table shows the highest,
lowest, and last prices of all stock sold