The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-25
WALL STREET.

NEW YORK. Dec. 24-Today's
stock market was somewhat below
the total of yesterday. but business
was well distributed and the tone was
buoyant. London was much less of
a factor than on Monday, but there
was comparatively light selling for
that account Important buying for
London is not looked for in the i'm
mediate future. as the short interest
at the center has been practically
eliminated and investors are directed
from this market by misgivings as to
our currency outlook. The features Of
today's local trading We're the pur-
chases by large houses with Washing
ton connections, due to the expecta-
ton of the issue of government bonds
on basis satisfactory to the treas
ury department and the gratifying re-
suits of the timely action of the clear
ing house committee in preventing
distressing rates for money. Although
ONE cali loans We're made at 8 per
cent. the bulk of the business was done
at per cent and transactions were
made, on good stock exchange collat-
eFal at 5 per cent. The market proved
superior to a sharp rise in the sterling
exchange market, partly IN conse-
duence of the disparity Between the
amount of actual engagements of
gold for shipment than previous ex-
traordinary estimates. 1t was at
tempted to be explained that the ex-
mort should nave been much larger.
but for the difficulty experienced by
would-be shippers of the yellow
metal in securing legal tenders. This
feeling prevailed to a. very moderate
extent. AS a matter of fact foreign
bankers are disinclined to sell ex-
change to a large amount where the
.'old is required to be shipped three
. er four days ahead. because in the
s~ent of the clearing house loan GER
tificates being used, the banks where
they deposit their checks would re-
ceive for their credit loan certificates
instead of legal tender notes. The
Joan certificates could not be paid
over to the foreign bankers, and the
banks would not be willing TO pay in
legal tenders out of their own stock.
as their reserve would soon be eN-
hs lsted. The market opened fairly
active and firm and soon became gem
orally strong. advances being extended
In some instances to per cent. About
II o'clock reactions occurred on the
sharp advances in actual and posted
rates of exchange. The losses Were
soon recovered. heavy purchases by 1
the shorts turning the scale. The up- |
ward tendency was thereafter main |
tanned as a rule. the highest figures
OF the day being reached between /
and . o'clock. The appreciation at
the eXtrtme point as compared
with last nights closing prices
include: Sugar, Sis; D. & r. G., 35s:
Northwestern, 2Ss The best figures of
today record gains from the extreme
panic prices OF Lead preferred y: Pull
man, II: Sugar and Distilling, *; Cana
dian Southern, "a
Around delivery hour there was a dis
position on the part of traders 10 take
CHI p1.,
resulted. The pressure was soon over
and the upward tendency was resumed
the market closing stronger. The appear
Rnce OF heaNy purchases for investment
caused a sharp advance in the railway
and miscellaneous bond market through
out The day. The transactions footed up
2.3l6.0U0. Among the more important net
gains are: Northwest debenture fives of
1921. per cent; Oregon Short Line con-
sois. trust receipts, 2%.; ditto skies, Pc;
otto trust receipts. 2is; Atchison a1iusf-
ment tours. ~: ditto fours trust re-
eeipts. Rio Grande Western firstS 2B
per cent. each.
Government bonds broke sharply on the
anticipated new issue o. bonds The new
tours receded IL, and the old fours
per cent.
Money on call sac per cent; last
oan 6, closed per cent
Prime mercantile paper nominally
L1kG5 per cent.
Sterling exchange strong, with actual
business in bankers bills at 4.S9s. a
1901 for demand, and 4SS64 ssh for
'6-days; posted rates, 4SSE@4 ssh;
md 4.9eG4.91; commerci bills. z.S7.
Government bonds weak and lower:
lew Is down IL and old IS down i
Der cent. on the day. State bords in
.ctiTe. Railroad bonds strong.
NEW YORK GENERAL MARKET.
New York, Dec 24-PETROLEUM-
firm; united closed LAO bid
PIG IRON-DulI
CoPPER-Easy; brokers' 1ols; ex-
hange, 103755Qlo5G.
LEAD-Easy; brokers' price, $40;
xehange, 800.
SILVER-6615.
TIN-Dull (
SPELTER-Quiet.
COFFEE-Options opened quiet at
nchanged prices and closed Quiet at i.
points net decline, sales $3.50 bags in
luding March. 1910
SPOT CoFFEE-Rio quiet: No.
"; mild. quiet: Cordova, 1919. Sales
10 bags
suGAR-Raw, quiet but firm: re-
ned quiet