The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-01-17

NEW YORK. Jan. 16.-The principal
topic of discussion in Wall street To-
day was the circular announcing
modification of the terms of payment
Of the impending issue OF government
bonds The change admits of the pay
rnent of the so per cent. remaining
after the &c per cent. required to be
deposited on the acceptance of the
bid, in instaIlments of 10 per cent. at
intervals of fifteen. instead of ten
days, as previously called for This
spreads the entire payment over a
period of 100 days instead of forty days
and greatly lessons the danger Of a
critical disturbance of the money mar
ket Ever since the open cali for sub
scriptions to the new loan was made
considerable anxiety has been mani
tested by conservative flnancierS AS
bearing upon this point some appre-
hension is beginning to be felt over the
increasing number of assignments Of
commercial houses in various sections
of the country. Although money on
call and time is quoted in Wall street
at Or below the legal rate, transactions
are based upon what is termed gilt
edged. that is, eXceptiOnable stock eX-
change collateral On the other hand
meTcial paper except of the very
choicest character. This condition has
obtained ever since the Semi-panic oc-
ca sloned by the temporary wholesale
throwing over of our railway securities
by London. incident to the war scare.
Subsequent to that uncertainty in re
gard to the general financial outlook
in this country has prevented improve
rnent. Today's stock market was
quiet throughout. the movement of
prices uninterestirg, aside from the
vagaries of some If the Industrial
shares. The opening, though duh,
was at a general advance. partly in
spired by the higher prices of the in
ternatiOnal American shares. In the
early dealings an advance of about
q point was scored by Sugar, mainly
on coverings of shorts. The market
soon dropped partly on apprehension
Of extensive shipments of gold by
Saturdays steamer and partly on
moderate selling, traced to represen-
tatiVe foreign banking houses. The
failure of am old established and high
~ reputed sugar concern had some IN
favorable effect Sugar stock slumped
rs per cent. The market closed firm
on an increased volume of business.
Bonds ruled higher on moderate
dealings. Sales, s1,966, 900.
Money on call easy at 31A@4 per
cent; last loan So. closed $500 per
cent.
Prime mercantile paper 6@9 per
cent.
Sterling exchange firm with actual
business in bankers bills at 4S904 S91l
for demand, and 4.S715@4S7&4 for sixty
days
Posted rates, 4SS04S9, and 1890
491.
Commercial bills 1862
Silver certificates. 679s G67z.
Government bonds, lower
State bonds. dull
Railroad bonds. firm.
The total sales of stocks today were
161. 736 shares, including: American
Sugar. 1850; American Tobacco So
100; Chicago Gas, $500; Louisville &
Nashville. $500: Manhattan, $500: ST
Paul, 800; United States Leather, s.
500; United States Leather preferred,
$4,000; Western Union, 5000.
New York, Jan. 16.-FLOUR-Re
ceipts. 14S0O; exports. 21.2OO. Ruled
very quiet and concessions asked for
but mills refuse to reduce limits. low
grades dull and weak.
WOOL-Quiet
PETROLEUM-Weak united closed
$40 bid.
PIG IRON-Weak
COPPBR-Easy; brokers 10: ex-
change, 9.7599.S5; casting copper, so.
SILVER-67A.
LEAD-Quiet: brokers' 290; ex-
change 9.O06SO21k.
TIN-Steady: straits, 13@131O; plates,
weak. n
sPELTER-Quiet
COFFEE-Options ruled quiet and
featureless throughout the day with
weak undertone under local pressure;
closed quiet at five to ten points net
advance. January, 13.90@13.40; March,
13O561315.
SPOT CoFFEE-Rio. dull; No. 7. IA.
Cordova, 17d1S
SUGAR-Raw. dull: refined. quiet
wHEAT-Exports, 1880 bushels. Spot
Gull: No. 2 red, 701z: No. l hard. 70A.
Options opened firm and remained so
al forenoon, helped by strong cable news
foreign buying and sympathy with pro-
visions. Traders all went long, and late
in the afternoon attempted to unload.
breaking prices sharply. The close was
at ..sd14c decline. No. 2 red January
closed SIS; May closed 671s.