The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-29

NEW YORK. Dec. 2S.-Trading upon
owing to an indisposition to make
ventures pending the receipt of definite
news from Washington regarding the
expected bond issue and the vote of
the House on the bill before it pro-
viding for financial relief. In the
early dealings prices recovered on
lower quotations for American securi-
ties cabled from London and on sell
ing for account in tbs market. The
declines were important in only one
or two Instances and a firmer tone
soon developed on buying for both &C
counts. causing sharp improvements,
especially in Leather pfd, Sugar and
Manhattan. The closing was strong
at the top figures and with general
substantial gains.
The gloomy temper of speculation
which had chara cterized the close Of
the preceding week was relieved to a
marked degree by the prompt decision
of the New York clearing house COM
mittee, cabled to Europe, that loan
certificates would be at once issued if
necessary to prevent further financial
disaster. Foreign investors forcibly
expressed their appreciation Of this
timely action by heavy purchases of
American securities in their own mar
kets and by cabling to New York
heavy purchasing orders. In other
words. the panic was at an end. The
local market quickly responded, and
substantial recoveries in the prices of
securities were made in short order.
The rally was greatly stimulated by
small cash investment orders to an
aggregate of a large amount. The
more cheerful sentiments continued
all of this week. While it is understood
by well informed financiers that prac-
ticaily every preparation for an issue
of bonds has been made by the ad-
nainistra ton, the passage of the bond
bill in the House is expected TO induce
the president to defer action until
the Senate has defined its posi-
ton on the financial question. The
expectation of a bond issue and pre-
paration for such an event by bankers
and capitalists caused a small pre-
MUM on gold obtained from sources
outside of the treasury. Exports OF
gold for the week amounted to about
s., SOC, 900, as against estimates of &c.
0Oo. 600 to s12.0OOOO0. Early in the week
it was reported that would-be ship
pers of gold were hindered by the scar
city of legal tender notes of large de-
nominations but no satisfactory expia-
nation of the non-shipment OF three
fourths of the gold ordered for export
by today's steamer was obtained
Sterling exchange rates, which hao
been sharply advanced early, declined
on the expected issue of government
bonds. Reports Of railway traffic re-
turns for the third week in December
eyerted favorable Influence upon the
market The buying movement culml-
mated on Thursday, advances having
meanwhile been scored over Saturdays
closing, including Sugar 1912 per cent
Final prices, although showing liberal
concessions from the highest of the
week, reveal material net gains. The
aggregate sales were 1,3S7,790 shares.
Todays railroad bond market was ir-
regular but closed fairly firm. The
sales aggregated s726,000. The dealings
for the week were marked by re-
bound in the speculative issues, from
the severe declines of the previous
weeks closing figures. The dealings
footed So 100, 900.
Governments declined sharply in an
ticipation Of a new issue of bonds. The
new As fell off per cent; 5s ~ and As
coup. 2, and do. registered .21s per
cent The final bids were somewhat
above the lowest prices of the week.
The sales amounted to $50, 900.
Silver certificates gained IL per cent
on purchases of $4,000.
New York, Dec. 2S.-Money on CAN
offered per cent; no loans; prime mer-
camille paper, 5@6 per cent. Sterling
exchange, duh, with bankers bills at
4.S9@A.S9A for demand, and 4S71k@
4.S794 for sixty days; posted rates. ASS
@4.S9 and 4.90@4.9O1a; commercial bills,
zS7