The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-02

New York, Aug. 1.-Today's stock
market was dull and professional, the
only stock THAI reached even compar-
ative activity being sugar. That stock
also displayed the widest fluctuations.
The only developments that could be
considered to exert a considerable in
fiuence on prices were reports of
spread in the area of rate cutting in
The southwest and the bank state
ment. The last mentioned exhibit was
unfavorably regarded by the room trad
ers, it being claimed 10 show evidence
of boarding money. Well informed
bankers declared that the contention
was unjustified The opening prices
We're generally higher IN purchases for
Doth accounts The market soon be-
came Irregular and finally on realiza-
lions and liquidati0ns III the low priced
Shares, prices receded ali along the
LINE. The downward movement was
accelerated by offerings of heavy blocks
OF sugar, depressing its price 2ls from
the carly high point The closing was
at the lowest points at general frac-
tional losses
Conditions affecting the values of
the stock exchange securities have not
materially changed during the week.
The street still attaches peculiar in
tereSt to the tone of the limited mar
ket for American securities in London,
and at least upon one occasion the
price at that center was generally be-
lieVed to have been manipulated on
orders from this side European and
domestic investors and SPECTATORS
nave had their attention distracted
from topics of recent paramount inter-
est 70 consideration of a wide increase
in the area Of railroad rate cutting,
sharp reductions having been made in
both passenger and freight rates The
more savage cutting had previously
been confined to the west and south,
leaving the southwest comparatively
lAndisturbed, but in the past day or
f7Fo the roads in that section have
also become eTnbro5ted. The dealings
have continued chiefly under the con-
troll Of the professionals, and at times
the operations in sugar have entirely
dMarfed the trading in the general list.
The market during the early part OF
the week displayed acute weakness I'M
der persistent bear attacks, assisted
by various untoward developments.
The continued offerings for foreign ac
counts. the rate disturbances referred
to- less satisfactory crop advices and
disccuraging traffic reports were eff
fective in depressing the railway
upon the failure to float the New York
City and Brooklyn bonds, and the in
creastng firmness of the money mar
ket Time accommodations ruled high
and the reactionary tendency OF gen
eral trade was reflected in higher rates
for commercial paper and a lessened
inquiry. III treasury situation receiV-
ed less attention owing TO an appre-
ciatfon OF the magui tude of the pre-
parations made by capitalists to main
tain the financial equilibrium. In the
industrials sugar went nlomentarily to
par.
The list. as a rule. showed suhstan-
--ssal losses as a result of the week
Operations, the sales were $4,000
Shares.
The bond market ruled dull but
generally higher: the feature of the
trade was continued foreign selling
and decided heaviness in the high
priced issues The sales were S4,O5l,-
O0O
Government bonds were q shade
lower early in the week. but stiffened
TO about last weeks closing. The sales
were S240.550.
Silver certificates were dull and If
regular, closing Is per cent lower. The
sales were $4,000.
Money on call, steady at 26215 per
cent; last loan, 21A per cent; closed
21a per cent.
cent.
Sterling exchange 1rmer, with actual
business in bankers bills at 4.S9G4.8912
for demand and ass for sixty days.
Posted rates ASS94sS15 and 4.S9.
Commercial bills, 4.S7k.