| Show BROIES RE EXCTEO A Wild Scene at Open ing o Stock Exchange SPECULATORS ALMOST MAD Orders Poured in Upon Brokers to Buy in Large Quantities Without An7 Price Limit Apparently Excitement Ex-citement When tho Call Was Mado Rarely Seen in the History of the Exchange Sensational Advance in a Pew Individual Stocks Jump of Five Points in One Instance SILVER New York c San Francisco GlV c London 20ilUkl LEAD Now York brokers 100 brokercOPPEi1 COPPER New York brokers 1700 L Silver and Drafts New York Nov V 7S11vor certificates Gl < C3c Bar silver Olc Mexican dollars 50ric San Francisco Nov 17 Sliver bars G1MC Mexican dollars GOiflolc Draft Slxht 7c telegraph lOc Money and Exchange New York Nov 17 Money on call nom inal Prime mercantile papcr 4105 per oIlt Sterling exchange nominal with actual business Jn bankers Mils at Si LSI for dc inaiul L and 19 for s1tt lays posted rates SISlMriilS2 I and 15V commercial bills 4SOJ ISO I New York Metals New York Nov 1TPlg Iron quiet Northern lofriec Southern J1350yl550 Coprer Dull brokera 17 Lead Dull brokers 100 San Francisco Mining Stocks San Francisco Nov 17 The oIIlcll l closing quotations for mining stocks today wore JIM follows t Alta 01 Alpha Con 5 02 Andes 01 Mexican 25 Belcher 20 OccI Con 00 B 1 20Ophlr 70 Bullion UIOvorman 07 Caledonia 101otosl 00 dial Con If Savage H Chollar 10 Seg Belcher 01 Confidence CM Sierra Nov 37 C C Va 120 Silver Hill J9 Crown Point CO Standard 320 G C PS Union Con 11 H N 25 Utah Con 07 Justice f12Y chow Jacket 22 Kentuek Con 02 NEW YORK MINING STOCKS A S t fl312 Mexican S 22 preferred 077i > Onhlr 70 Cnollar fiS Plymouth 10 Crown Point 10 Quicksilver 125 C C Va 10 preferred 700 Dcadwood 56o Sierra Nevada 35 G C M Standard CO H N C2 Union Con 11 Ilomcstako GO to Yellow Jacket 22 Iron Sliver 70 Brunswick 10 Ontario G2S BOSTON MINING STACKS Adventure < J12j Franklin I6 Allouez M Co 27fi Humboldt 50fH Amal Copper M 75 Parrot 0175 Atlantic 2C2 00 Quincv 1GOCO B A M 320 00 S Fc Copper S 00 B BJT 7100 Tamarack 2SSOO C SJJ StSOO WInona 100 Ccntpufilal 207i Wolverines icno Oscteola 7S fiO Utah 35 SO LTRIDUNB SPECIAL 0rton Mass Nov 37Coppcr shares opened strong and In good demand de veloping considerable activity aa the day > rogrei8od The closing was general I jUJyant for Montana which was marked drtwn by manipulation posplhlv for the purpose of using It as a leader later 3Ut1 WnSs ihoiBlro K feature advancIng 8 to cH ° closIng at S75O0 Amalgamated up 175 to 530 71 Blnpham 75c to tol4O14 Ltah Ode l ° 23f0 > Centennial Eureka l to J27 Thero has been heavy buying of Amalgamated and Anaconda In New York fop people close to the Standard Oil crowd Hornblowcr Weeks brokera 53 State street Boston furnish 1LIOn1 tho following quo Sales High Low Close Ama gamatcd 3JIO Ki7M > 5y M 75 DlnBham 1000 1137X 1100 1100 cocbm 3co jo7 ioC2A O62 Con Euroka 37 2700 2600 2C 75 Utah lOM 3550 12G 3550 United States1370 1225 1200 1 200 W hlto Knob 1000 900 7 CtirbBoaton 312 313GO Navaho 5350 iiJ U S Butter and Eggs New York Nov 17 Butter Receipts 2q package firm creameries 10f27c Junc creameries LSI21c factory 13fl5 c KffgsRecci 1353 packages steady estfern regular packing at mark 21 2ici Western loasoT 27p < < k Grain and Provisions Chicago Nov 17 Wheat was moderate ly active and maintained Its recently ac quired reputation for making a new low price record er day The pit was a lit JUabettor than balfoccupied by dlscour aifjd bulls and confident bears whoso op oratlons drove prices a bit deeper1 the mini News was scarce December opened Vyjv to a sliado higher at 71 lo 71 aborts covering moderately because cables did H ol Uuiy way relied the decline hero in Phe bulao mcl no support of any mug nitude and consequently the market drpnpojl hravlly to 70 > i70 Shorts had Bold will such complete abandonment to their bnllcf in heavy stocks and n slack demand lliat rumors that additional mills would icopiMi In Minneapolis owing o a boiler demand for flour sent them t cover Taylor luiylnp of this sort Deecm ber rallied sharply to 71V Thero was plenty of Ihp cereal for sale on lie ad vance ard n reaction followed December closing weak c undir yesterday ut 71S m ° < mCorn Corn was quiet and steady Offerings jver liberal at tho start but were well taken by local bulls and later tho Nuimly and demand wan nicely balanced In the lilt t December closed unchanged al 351 ci353 Tho market for oala wan llrm Decent ber closed 1 higher at 214J22 ProvlsloiiH wore again easIer with tho lama exception In favor of November ribs tvnloli wan jioilccaMn yesterday The krSfo thht commodity at the lose was r7CJ < 4 12 > 6c over the previous close Ju tures were depressed by a liberal rim of hogs and a drop In prices at the Htock yards January pork cloned lOc under yes terday lard Cc down and ribs 7C down RANCH OK THE LEADING FUTURES OJiclcs Open High Low Close wheat No 2 November 7l > 5 7W 7or6 71 December 714 71 705s 71 January 7i 72 71i 71 Corn No 2 November SV i l03 3 December A 35 Mfe 2 23 4iiy s Oats No 2 Nuvonther 21 213k 2lZ1 2l December 22 2 2l4 22 May 2PX 21 ZP t t K i > Y ta j Mess Pork November 1015 10 J 3020 10IT January nco 11G5 ll0 nco May nco 11C21S 115214 llCJ Lurd November 715 711 710 710 I December sCOi C0 ij00 6024 January CSo CS7V jfO nW May w GS7li US7Vt GS3 67L Short Rlba November 702 I I January c25 G27 1515 622 i May c23 GUu C20 625 I I QASH QUOTATIONS Cash quotatlpns were as follows Four J idull winter patents ff7073X straights 103300clears J2SOjf340 sjirlng spcclulw JI EO patens S35frR370 straights JHCOti 3J1 bakers 22ftO75 No 3 spring wheat h172c No 2 red TSfnVAc No 2 1 corn 3 k flnOcji No 2 yullc I0e No 2 oats W4e Na 2 altite 231Mi26c No 2t t white stMrfilWcf fair to cJi6lcuJ malting tWJiCOc No l flax Seed flti No 1 North I I westcrni 51CO Prime timothy scoff JJlOff II i i 4COJ moKH pork per barrel S10 Of 10C2Vi i lard ptr 100 pouhJs I7J51I2 short rib I sItie loose dry stilled slioul tiers hoxetfl short clear tiios I Llioxad OvfJG03 wlII5lcy basis of hlgl I l wines l2T sugars out loaf unchanged clover contract grade 1000 RECEIPTS AND SHIPMENTS Articles ReptH Shuts Flour barrels 11000 f 00 Mieat bushels 12101 ISOCflO forn biishuIs 5I0 lilrw Oats bushels 131000 17000 Rye bushels 2000 20000 Barley bushels 70030 Slid PRODUCE EXCHANGE On the produce cxcfiango today the but I j9i narkui active creameries lf > fi2iU I airies l2722p cheese active IIYjlle I I I Positions Compared iI i t London NoVnT Vlewlns HIP relative I pgltlons in Londpn and Now York the I Stalls suyii The attitude of the Hunk of England and of the discount market 1 I I and of the maintenance In the open mar ket oftho rate of 4 1 per cent have fully I justified the crust that this policy vlll continue At thpiiiQment Ii Is true New York echa1gc has rJacn much above the gold point bat Ira Improvement Is apparently ap-parently duo to temporary cauSes largo sales of securltloK to New York having I created a large amount of excitement An this stock Is unpaid for and JIH London Is rilhor buying than aelllnsr so eurlllea the future movement of exchange may bo In Ito opposite direction and wo may have to pay tOt securities bought as well an for the enormous quantities of product now Importing Those In a position lo form an opinion as to whether or nor wo shall have to send gold to Now York docluro that further fur-ther gold shipments are most unlikely Whllo duo weight Is given to this opinion wo munt not altogether Ignore that tIm rival of trade and speculation In tho Unlind States may enable the Americans to uso heir money more profitably at homo than In London The Inventors Review sava The advance ad-vance In the price of silver early In the week was due to a French order for 0000 kilos After relapsing It recovered on llaattrn buying The mere fact that such a small order hud so much Influence Is ovldcnco that the market Is not overbur dened with supplies Weekly Bank Statement NAW York Nnv 17The weekly stale I I meat of averages of tho associated banks shows Loans 7S7SI61CO Increase 21S9GOO DepoSIts S30G70100 Increase S578SOO Circulation 306775 decreased 3200 Lal tenders 5S7JlSOQ Increase J2 C12CO Specie lSSo2500 increase 2593500 Total reserve J17GS73 Increase 3 02S300 Refeervo required 2W917G2o Increase 21lf373 Surplus reserve S7CC0775 Increase 53 CS72o The Financier nays The Now York eloarlnghouse made an unexpectedly good showing for iho week ending November k 17th cash Increases having surpassed nil I expectations The giln footed up i20S300 divided almost equally between legal I tenders and specie The Increase was duo for the most part lo operations with the treasury although It IH known that New York gained appreciably during Iho week from the interior Then too a portion ol belated gold Imports figured In the reserve re-serve item With this strong condition asa as-a basis the banks were able lo stand the I swelling of tholr other to1ls without I trouble and as the expansion In loans also under all previous calculations they closcd the week with 3003725 added to I their excess reserve bringing the total lo 57GCO799 The slowness with which the loans oC the banks respond to the enormous enor-mous stock exchange expansion noted since November 7th Is a rather puzzling I feature and one that Is variously ex explained It IK quite probably that there has been liquidation which docs not show In the statement except to minimize the Influence of the new business being done At the beginning of the revival In stock exchange activity during January 1S50 the snmo peculiarity In the loan item was shown almost In a period of three or four weeks following loans moved up over J20000CCO At that lime the explanation now often used namely the heavy volume vol-ume of investment buying was advocated 11 Is probable that the loan and each fluctuations fluc-tuations will within the next few months show some Interesting phases but a continued con-tinued heavy increase In surplus rcservo would appear to be an anomoly In the face of prevailIng conditIons The 1010515 of the 1anlth rose S57CO4 last week asa as-a tesuit of th ehantiesalrend notch and thIs added 16 the 11ll5 fLor legal re ervc rcqulrenientfi cxplalps why the Increase In-crease In surplus was not so largo as tIm gain In cash The money market has not been affected af-fected to any extent by tho revival In business since election The circulation of banks in New York has for the moment reached Its maximum decreases In the total having been shown over the last two weeks Stocks and Bonds New York Nov 17 Yesterdays definite resumption of strength n tho securities market and Iho evidence of large and aggressive buylrig for Investment had an Influence upon speculative today to-day that the most sanguine could scarcely have foreseen Such speculative excite moat as the excitement at the opening lias been rarely seen In Ito history of that Institution The brokers had orders to buy In largo arrtounts wltbout any ifrtao limit apparently Such ardors were sheer recklessness reck-lessness In a market where stocks are SG stronglyJield as at present and the sensational advances which resulted were almost Instantaneously lost The urgency of the bidding pave color lo the supposition supposi-tion that a largo short Interest was In process of closing out by forced buying There has been more or less short selling at Intervals ever since the election and uncovered bear accounts were In a perilous peril-ous slate 1 tiC CllULLI au LLII UI > and running up to cpvor a point wus Imposed Im-posed bufln a few Individual stocks the rise was sensational Consolidated Gnu was sold for 201 and at the same time It was selling for 5191 and Tennessee Coal cold at 7Gc to 77c rising afterward to IA points over last night General Electric jumped live points which Is leas than Its average dally rise for several days This speculative excess quickly brought Ha penalty In the eager selling pressure Induced by those high prices and Iho re lapse was so Violent as to awaken uneasiness un-easiness The relapse carried prices buck to within a fraction of last night and In soino conspicuous cases notably Pennsjl vanln prices fell below But after the appearance of the favorable bank statement state-ment buybig was renewed with coilldenco and prices i were again lifted In some canes to the beat making the closing active and strong No special Influence could be assigned as to tho cause of the largo demand the movement being based evidently on confidence con-fidence In the nature of conditions making for prosperity and large earnings in nil branches of busIness and Industry There has been considerable abatement this wock li the Inordinate rpeculutlon In stocks whlbh threatened last woek lo extend ex-tend 10 cekleas extremes and to run the money market Into a squeeze bv putting too much money In speculative holdings of stocks Selling to secure profits by t the more cautious and increasing boldness In the bear stocks on the market at last caused a reaction This forced out some of the weak speculative accounts which made tho market topheav and discouraged the headlong rush or outsiders to buy Tho class of speculators whom nothing attracts but a sensational upward surge cf prices have bivn much sss In evidence evi-dence this week but It bus become evident evi-dent lint a third bOdy of buyers have been waiting for the reaction in prices to come into the market confluent In tho intrinsic valuo pf Securities and the fouml nest of iho Industrial and financial outlook out-look but fearful that over speculation vna Inflating the prices of stocks and endangering the stability of values TIm market has thus found active support sup-port at the decline and HUB regained Its cqulllbrum The fact that no registration or exact record la made of transactions on lie stock exchange except by lie parties par-ties Immediately concerned gives llo opportunity op-portunity for unwarranted statements regarding re-garding tho proportions of the market On Monday of thIs week the total sulea were lWSOOO shares according to the most reliable estimate but for the volt ending Tuesday evenlntjieonsurvatlvo estimates esti-mates show that moro shares were Hold than In anj previous period In the history of the exchange TIio total amounted to 7GOIOSI shares For the week ending January Jan-uary 17 1 1800 the aggregate sales wero 1422631 > shares As for bond sales the total has not rwichod JOCOOOQO par value on any day since the election while the record otands at about JllCOOOCO par value As for the record of sustained period of activity the sales of stocks wtfro constantly over 1 000000 uhuroa a day In JanuaryHKH Dur lug tluvsume period the bond snlos wore between KOOfOQOO and flOOflQ000 a week par value An almont equally sustained bull mnr hot waa that 6f April 1853 when tho hordes of m w Industrial Securities were offered on lie market It will thus be seen that thiS speculation has hardly at tamed the unbrldled character of soma former pnrlodH rIte memory of the re cults following the speculation of IStf In Industrials IMH apt been without Influence thia week In Wall street An apprehen f Hlon grew up in the ctreot after the eel lapse of the Industrial boom In lS99 that Uuno properties as a class would have 10 KO through an experience similar to that of raIlroad companies following lie excesfliH of capitalization nd stock job < blnjj of tht conHtnictlon arp ut Thcllat ofAmerlfun rullwuya that hose been in bankruptcy and reorganization In a long ono The 1 standards catjihllshcd consequently of publicity and Information regarding expenses revenues and finances of railroad companies and the light given lo purchasers of the stock and tendon of monev on the securities malta 1 strong I contrast lo I ihr Information allowed to tho i I nubile regarding the great Industrial com binations This In many cases IH colt I lIned to bare n la lemon Is of nol earning I rIte eiTeet upon publle confidence IB ovl donl from tin lowprices lnthe murket of many of the Industrial stocks nn which good dividends are paid and for which suf llcloni earnings are reported to contInue dividends ito general knowledge of revival re-vival of business activity and good de mund at advancing prices for tho product of the industrial combines have dissipated aomo of th distrust felt toward them The absence as a rule of heavy fixed changes to bo mot before eatnlngK arc available for dividends on stocks of In duurlnls however meets soino objections lo them Tlio prospect of new war loans In Rag land and In Germany affected our money mirket early In tho week but with iho belief thai tIm lajuc of tIm loans would bo deferred until early next year the in llucnco passed and the money market became be-came easIer thus contributing to tho returning re-turning strength In the stock market The uord market has continued active and broad but the principal buylnvr has been of bonds of speculative value or with contingent Interest paymcnlH U s 31 and Cs declined 1i tho refunding 2s and the old Is 9i per cent below the caprices ca-prices of a week ago The now la advanced ad-vanced Vi per cent BOND LIST U S 2s ref rcgl l D R G 4fl 100 U S 2H ref coup lOHSs Nor Pac 3s i 0 U S 3s reg 109 Jowsi 1W U S 3a covip IOOV QIC Nnv Is 1O U S n la rcg 137U7 fours 10J TJ S n la coup U7 O S Line Os 123 U S o IB rcg Ho cons 5s HI 17 S o Is coup lloVi RG W 13 Oil U S6s reg 1l2 Son Pac Is S3 U S Os coup 112 > Union Pac Is Colo Soil 18 CLOSING STOCKS Atchlson nS Wabash preferred 83 preferred 2l > < > PO S2i 1wLF 11 Cana Pac SS9 2nd preferred 20 Cumin Sou 57 Xi Vls Cent 12j C O KttiThlrd Ave 112 C Cl W 13 Express com C B 0 Uts panics C I L 2PIg ditint 133 prof cured G7j American 103 C K 1 JW United States IG C c N W lCSWell8 Fargo ICO C R 1 P 115W1 Miscellaneous C C C SI L fjiiAiner Cot Oil 11 Cob Sou 7 preferred W Isl preferred 11 Am Malt 41 2nd preferred 17 preferred D c H 117 > AAS R 53 D L W 1S2 < preforrtd D t R G 22y7Amer Spirits preferred 7Wi preierrcu 41 Erie ufe Amer S Hoop 33 1st preferred SSlfef preferred 7S Gl N pfd 173A SHock c W I8ji S-Hock Coal 17 preferred S7 < Hock Val 2 ° Am Tin Plat n Ill Cent 12IJ6 preferred S7 la Cent ALip 2OT Am Tobacco now preferred fk preferred 18U L 13 W 31 Ann M Co 5B1 13 RfTransit 70 preferred lOt J < C P I olY Lake Shore l0 I N P Con Tobacco preferrOd Mot St fly Mex Cent na 101 blC M M t St L preferred Mo lroferred Pac EfrSSjs 1C5 77 M 0 40 preferred 102 > MKT 11 I1i Paper 24 preferred r l8 ½ Lfl Ileerred 243f ½ TM J Cent uii Clede Gas N v Cent 130i National Bis lOJ N W 4l Preferred 94 iJINAllonal Lead 21 preferred 82 21OC Nor Pac 66i preferred OC nrVforiWl National Steel iNalIonaI preferred S0 ½ i Preferred g S ft FlNi IStNT Air Brake l33ni 2 preferred Nor Amor ni 76 Pac frtn Coast fiS Reading ro aRS flrci 1st lreferred Jvi Isi nifSrort preferred t7I C3y 2nd Preferred C7 2nd preferred m Jfcfr 1I 0 IV Pac Mail 43 Co Peoplt 1 s Gits 101 preferred ot Press Steel Car at LI tv s i < 5 preferred Jsl SC preferred 71 Pull Pal CarT 101 2nd preferred lPrS T 101c St L S V 3iIL c iillSUKar preferred 132 St Paul ST preferrc1 llfi I 78 Pennsylvania iijvii U S Loather 15 preferred I74y Preferred ft P O 126 US Rubber Sou Pac I2 preferred 93 Sou Ry ic1 West Union 80 T preferred P C3 ½ flep tI S 17 i9y preferred Union Pac 70 P I C St I 55 preferred si Livtf Stock CHICAGO Chicago Nov liCattieflecelpts 400 tliS25 Steady native good to prime steers 541 0 poor to medium 11011520 selected feeders 37Il3s 1 ft lxed stockcirt 4 cows 2iOffh25 Iteifers 27ii 22i1 7o cati ler L6265 buls vs 225ji50 calves 5400tj5io Texas fed steera SfOOftBOO grasses a35Tr 115 bulls 3Z333 Hogs Receipts today 20000 Monday fOW estimated left over IOOO bc < lower top So00 mixed and butchers S4G547 > 4 good to choice heavy IS0j5OQ tough iteal3 i65il75 llthjt tl707JJ97lfbulk of sales 1SJ492i Sheep Receipts 2COO eholco steady olh ers slow lambs Weak u a slmdo lower good lo choice wethers 4 l00j42s falt > to choice mIxed 1 37541 Western sheep SlCOJ42u Texas sheep J2COS3CO native lambs SIOTS325 Western lambs 52 KANSAS CITY Kansas City Nov 17Cattle Receipts 2000 steady native steers J340ifoIO Texas Steers 225 fS5 Texas cows 8200W 300 native cows and heifers l73il25 stockers anl feeders 260l20 bulls 233 j351J calves 425I590 logs1eccIpts 700 weak to ccnts low or hulk of sales 4SSWI20 heavy 3l75 4v2 packers sMSSt 10214 mJxcil JISOfi 190 I light EOg402 yorkers IOO4P2Vtj pigs I7M1JX Sheep Receipts EOO steady Iambs 3CO 3110 muttons h10iJ120 1 OtArIA Omaha Neb Nov 17 Cattle Receipts 150 market nomInally iiectdy native beef steers 3I 25a6Io reSterfl steers i00l 400 Texas steora 325Jl00 cows aitti heifers J3GOiM2s canners 100 275 Htockcra and feeders 300774501 calves 300 f500 bulls BUig ctc jOG r25 IIdgsReceipts 6000 market 10 cents lower hicavy l80i85 mIxed l204724 light l75WIS2c pigs 375lG5 bliik ot sales 150UlS5 Sheep Receipts none market steady DENVER Denver Cob Nov 17 Cattle Re1 I celpls 20 slow and lower beef Hteers 1423 < cows 225fr3CO feeders freight paid lo river SldOfjIOQ slOckors freight paid 10 river 22j320 bulla slags etc i2OOS300 I logs Receipts 100 ijjio cents lower light packet I7MH mixed and heavv lSW7183 Shecj RccelptH 100 1 unchanged St Louis Wool Market I St Louis Nov 17WoolSteady and unchanged |
