The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-21
WALL STREET.

New York, Dec 20.-In general wav
the average Wall street habitue was
prepared. after the close of business
Yesterday. for probable depression in
the stock market today, on account of
Inc venezuelan message episode and
the renewed outward movement of
gold The actual DEVELOPMENTS of the
uay, accordingly, caused a sensation in
llhanclal circles that has not been
equaIed since the Barring panic. i'm fact
IN some particulars that gloomy eVtn
was oVerShadowed in point of inter-
est. Ihe 1rSt shock came in the shane
OIL pan1cky market in American Sc
curltleS IN London, with declines ex
tending to per cent British consoIs
also came lower. The successive ca
pies reported great excitement at that
center and wholesale liquidation of
the International stocks at rapidly re-
cedlng figures. Before the opening here
it was definitely stated by gold ship
ping houses that So, 400, 900 of the s.. 600.
oOc that was expected to go out tomor-
row, would be arranged for TODAY.
The combined influence of the develop
mentS noted was reflected in a wild
opening in the loyal stock and bond
markets. Trading was very heavy from
the outset and in the initial dealings
breaks occurred extending to Az per
cent in st. Paul After a momentary
recovery of 1@11a per cent a fresh out
pouring of stocks occurred, which, as
in the case of the London selling, re-
Elected chiefly liquidation by scared
holders and prices crumbled right and
left. Stop orders were caught in large
numbers and this, of course, acceler-
ated the downward movement Slight
rallies occurred several times during
Enf
pressures swept them away. The low
est prices, extending to 151a per cent in
Lead preferred, We're made around
noon. The volume of business was on
a tremendous scale. The dealings in
the first half hour registered 141,194
shares and in the first hour 243,1S5
shares. Trading in bonds was also on
an almost correspondingly large scale,
and the losses ranged up to Is per
cent. in Wisconsin Central first trust
receipts. The unfavorable general con-
dition affecting the speculation was
aggravated by sensational advances
in the call money market. The first
figure quoted was per cent by 1870
o'clock the price was bid up to % per
cent Large sums were loaned at be-
tween these figures. The sterling ex-
change market also ruled firm and
higher, actual rates for demand riS-
several leading firms advanced posted
quotations for sight bills to 4901A.
Toward l o'clock the selling pressure
abated and a sharp rally in prices oc-
Cured, followed by a reaction in which
a large part of the improvement was
lost on a jump in call money to so
pre- cent, the highest figure of the day.
A break of per cent stimulated lib
eral buying in the last hour, causing
VT &c
ranging up to IL per cent. in Lead
preferred Near the close money again
sctiffened to so per cent. and closed at
that figure This fact caused recess
SionS from the Improvements noted
and contributed to an irregular closing
The market left off unsettled at net
declines. The aggregate sales We're
1925 shares, including 11S,700 in
Sugar.
The bond market was in as demon
allied a condition as the share mar
ket and heavy blocks of bonds were
thrown over on liquidating orders. The
foreign selling was very large and the
international issues sustained material
losses. In sympathy with the stock
market there was a slight rally in the
late afternoon trading, the recoveries
in prices reaching 6 per cent. Dealings
were on heavy scale, aggregating 49,
24S.uUu or dDOul tilieS eiiheS Tic IeCeHt
daily average.
Governments sagged sharply on sales
of $4,000.
Government bonds weak and lower
with new tours down II per cent. each.
State bonds dull, railroad bonds firmer.
Money on call $3.50 per cent; last loan
so. closed 80 bid.
Prime mercantile paper 412G0l2 per
cent.
Sterling exchange firm, with actual
t,,c in hor a A
for demand and 4S7s464.SS for sixty days:
posted rates, 4SSi564.S9 and 4.S915G14. 901a:
commercial bills, 4S7.
Silver certificates, e61s.
NEW YORK GENERAL MARKET,
New York. Dec. 20.-PIG IRON-Quiet;
southern 12.O0@14.00; northern 120OG14.00.
COPPER-Dull, prices unchanged.
LEAD-Quiet; brokers' price 80; ex-
change price. 3.22l2.
SILVER-66s4.
TIN-Dull; plates dull.
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