The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-05

New York, April 4.-The resumption
OF business on the stock exchange af-
ter the holiday was characterized by a
fairly active and advancing market.
The foreign exchanges were closed on
account of eastern holidays and the
local dealers had the speculation en-
tirely to themselves. The distribution
Of business was Indifferent. but i'm
portant gains were scored in many
instances. The industrials attracted
the most attention. with Tobacco es-
pecially noteworthy for activity and
erratic fluctuations. A slight gain in
the stock was noted at the outset, but
under heavy offerings from the traders
the prices declined 2 per cent to So,
with a rally to S93s following; but the
stock left off at loss of q per cent.
Sugar gained a point on pool buying.
The improved outlook in the iron
and steel trade was reflected in a
gain of 2 per cent in Tennessee coal,
and under similar influences Colorado
Fuel rose l per cent. The movement
in the grangers and other leading
shares was confined to fractions with
gains general The closing was strong
and at the best figures of the day.
Although the volume of business in
stocks in the week has been COMPARE
lively light, partly owing to the practi-
cal double holiday at the close, the
speculation has not lacked develop
ments of the most sensa tional order,
recalling to a considerable extent the
turpitude of the wreckers of the old
Colorado company. We refer to the
extraordinary performance of the man
ayers of the American Tobacco com
pany in contrasting within a short
three months the passage of the reg
ular quarterly dividend on the common
stock and the declaration on the recent
date of a disbursement on the COM
mon stock of 2 per cent in cash and 20
per cent in scrip. When the dividend
was passed the step was considered to
warrant an investigation by the gov
erning committee of the New York
stock exchange, and it is more than
probable that the recent totally unex-
pected liberality of the directors will
call for rigorous investigation by the
same body as to the strategy en-
ployed, For d long time past the
manipulation of the street has been
''milked right and left alternately"
The general market movement was
Irregular, but a firm undertone pre-
vailed and stocks were purchased with
more confidence than for some time
past, although the dealings were
strictly professional in character. The
grangers were in brisk demand.
Bonds were relatively active for a
half holiday, with the Northern Pacific
issues the features at sharp gains on
the announcement of the declaration
that the plan of reorganization was
operative. The general market ruled
strong and higher on scales of 81, $685.
900. The market during the week was
strengthened by favorable influences
governing the shares speculation, and
the dealings were on a fairly large
scale. The gains range up to 5 per
cent in the speculative liens, the last
in Chicago and Northern Pacific first
trust receipts
Government bonds advanced slightly
on transactions of 1851, 500. State is
sues displayed an advancing tendency
on dealings of 5000.
Money on call, easy at 31a per cent.
Prime mercantile paper, 515@615.
Sterling exchange, firm and higher
with actual business in bankers bills
at 4.S9A for demand and 4SS@4SSA for
sixty days; posted rates 4.SS75@4.S9 and
4S9121490; commercial bills, 4.S7.