The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-05-25

New York, May 24.-The improve
ment in speculative values made yes
terday was, in a great measure, lost
today. and the stock market was I'M
settled and to some extent feverish
There was little left of that confidence
in the immediate future, and in the
betterment of the situation as regards
the great railway properties, which
was so prominent a feature of yester-
days speculation.
One favorable indication was the
slightly easier tone of the sterling ex-
change market, which led to a belief
that the gold exports on Saturday
would be less than had been antici-
pated. and would not exceed 81, 000, 900,
but this was not much of a factor in
the stock markets. The things that
did affect the share speculation were
the publication of railroad reports show
ing continued decreased earnings, the
announcement that the coal strike was
still far from ended, the apparent I'M
certainty as to the prospects Of the
tariff bill and the fact that railroad
managers in session al Chicago had not
arrived at any basis of settlement on
the question of rates.
1t was a day in which the bear senti-
ment was uppermoSt, and the shorts
took advantage of the pervading gloom
to hammer the market, in the hope of
bringing out long stock. Evidences
were not wanting of liquidation in
some Of the leading properties, notably
Sugar, in which some Washington &C
counts were closed out.
Burlington & Quincy was also sold
by Boston houses and st. Paul by
CNhfOa In bn r11nrninIr London
in the market of st. Paul, Louisville
6, Nashville and of small amounts of
New York Central. The market opened
firm at a fractional advance on yes
terday's quotations, Reading, which
was q lower, being the only exception.
For three-quarters Of an hour the
trend of prices was upward, except for
Sugar, which reacted a fraction, but
quickly rallied and established higher
level. Missouri Pacific being also proml-
nent in the advance. Before II o'clock,
Sugar had lost the entire gain, carry
ing the rest Of the market down a
fraction.
The speculation was heavy until
afternoon, when a fractional recovery
took place in the general list. Soon
after midday, the buying movement
spent its force and the market took a
downward course, the declining ten
dency continuing until near o'clock,
when another recovery of fraction
occurred, promptly followed by reac-
ton.
In the early part of the last hour, a
sharp upturn was made. in which the
Cordage shares and Tobacco preferred
were most prominent. Some shares did
not participate in this advance, and re-
corded losses of a fraction.
Sugar was very erratic in its move
ments all day, opening at 1881. drop
ping to 1929, advancing to 1915 and
broke TO 100, closing Is above the low
est point touched at a decline Of rs on
the day. The preferred stock rose q
and declined rs.
The bond market closed generally
steady.
Money on call easy at per cent;
last loan. 1; closed l per cent.
Prime mercantile paper, 21@@41a pei
cent
Sterling exchange steady. with ac-
tual business in bankers bills, at
zS8% QS.S9 for demand, and 4.S71a@
4S7Sz for sixty days. Posted rates
4.SS15@4.90. Commercial bills. 4S61ad
4S6%. Silver certificates, 64665
The total sales of stocks today were
259,956 shares, including: Atchison
1900; Sugar, 1000; Burlington. 14.10O
Chicago Gas, 26,60O; Distilling, $500
General Electric, 1900; Louisville &
Nashville. 1890; Missouri Pacific, $500
New York Central, 1850; National
Cordage, 1900; Northern Pacific pre-.
ferred, $500; Reading, $500; Rock Is.
land, 4,200; St. Paul, IS, 800; Western
Union, $500
Government bonds firm; state bonds
inactive.
Petroleum steady; Pennsylvania oil
sales, none; June option sales, none
closed, Sc bid; Lima oil sales none.