The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-02-25
Closing Mining stocks.
Nav YoRK Feb .
New York Stocks.

NEW YORK Feb. 24-There was a de-
cidedly bearish sentiment on Wall street this
morning, but the day developed material change
| in this respect and while resistance was given
to declines in leading weak stocks, the market
as whole again showed q disposition to break
away from the influence of these stocks as their
movements were the result OF special causes
and not justified by the general situation. the
Outgo of gold for tomorrow was reduced TO
mere nominal sum and money was decidedly
easier than for some time before the holidays.
While little attention was paid in these intiu-
enees they evidently had full enect, and the
W eak. feveriSh and unsettled speculation was
changed into strong one.
Liquidation in New EnglandiS believed by no
means to be complete and hints that Reading IN
It's crippled condition will find it q heavy load
and there are broad hints Of ousting Mcleod
from the receiVerShip. Even Northern Pacific
is threatened with receiyerShip and, though
the insiders most emphatically deny the posi-
biiity OF such d thing, liquidation in its stock
continues The market opened excited and
very active, selling largely by shorts. Losses
at the start ranged up to rs, Western Union
leading. Sugar, Whisky, Cordage and Lead
were subjected to specially heavy pressure
among the Industrials and New England and
| Northern Peoihc among the railroads Read
| ing stubbornly held and was comparatively
quiet, Cordage broke SIS. Sugar 47s, New Eng
ferred 2. The last named afterwards recovered
! all its loss and more. D1stillers nearly recov-
cred and others made partial rallies Al II the
market was active and firm at the rally.
| After II offerings of stocks became very free,
and prices as general thing retired TO about
the lowest Sugar was especially pressed for
sale on a belief that sales Of the last few days
had been by the pool, and the price dropped to
| 113l. New England went to 3lA against 81 st
evening. Coalers were strong however, rising
1A02. At noon the MA keJ was active and
firm at slightly above op sning.
After being driven dc IN to 29A New England
rallied per cent. The demand for Reading be-
came urgent and adv lnced from 299s. Laoka-
wanna gained al to l07, and Delaware q Hud-
son 3Is to l271I. Inc appearance of White n
the sugar crowd reve sed the course OF thai
stock and rally Of per cent. to 1141s followed.
| Cordage sympathized with a like advance to 3D..
| While the strength OF the rally disappeared
! toward 2 p. m, as the covering of shorts
Stacked away and prices again receded from the
highest, the market at 2:15 was still active,
again heavy with railroads, as rule at close TO
| best, but with leading weak stocks only slight
| gains over the lowest.
Notwithstanding denial of the rumors re-
| ceived from England the decline was not
| checked and the stock closed weak. Only one
| other prominent feature marked dealings which
was Sugar; A belief was general that the liQui-
| datrons in progress was for account of the pool
and it declined nearly per cent. TO y estab-
lished in the forenoon. This was recovered in
the afternoon. The general list showed a firm
| temper and fractional advances are the rule.
| Government bonds were steady TO firm