The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-16

New York Feb. 15.-Decided heaviness
characterized the final trading of the
week. The condition resulted partly from
the efforts of the professional dealers,
and to a less extent, from liquidation for
both domestic and foreign accounts. The
concessions in the general market were
mainly fractional. Sugar improved about
q point on further advances in foreign
beet and domestic refined sugars, but
eventually lost the gain in sympathy with
the weakness in the other shares. The
closing was moderately active and heavy
in tone.
The weeks speculation has been unsat-
isfactory to all but the brokers, who de
vote their exclusive attention TO quick
turns in the market There has been
general complaint among commission
houses over the dullnesS OF business l ne
progress making towards replenlshinS
the gold reserve Of the treasury, INCL
dental to the latest government BOND IS
sue. and the reports and gossip IN rela-
ton thereto. have been the pivotal lnnu-
ence in Wall street. In the last few day s
it has become clear to experienced nm
anciers that the net gold receipts to the
treasury from the new Sl0O,OsJO00 issue
will fall considerably short Of early an
ticipations excited by the exceptionally
large over subscriptions. This, OF course
is due to the fact that a fairly large pro-
portion of the successful bidders Will in
all probability draw their gold from the
of the loan. Investors have adopted a
cautious policy until the course of the
money, exchange and mercantile paper
markets can be more clearly forecast
than at present. The failure of the free
silver defeat in congress to stimulate
foreign purchasing of our securities and
the selling for the same interest, attrl-
buted to Increased friction over the
Transvaal situation. together with the
predictions of prominent European i'm
anciers Of an early sharp revival OF gold
exports. exert depressing influence
upon the local speculative leaders. Trade
reports are less encouraging, although
returns of railroad traffic are mainly ia
vorable. The general market movement
has been fairly active in spite Of the hol-
iday interruption and the course of prices
erratic. The induStrialS attracted the
greatest speculative attention with sugar
and Tobacco foremost and huctuatlng
wildly. The evidence of active manipula-
ito nbv insiders was manifest IN each
case The first named was marked up ,
per cent. to 1151s, in anticipation of the
early declaration of the regular divl-
den6s. a reaction to 11A followed. on the
introduction of bill in the senate pro
viding for the removal of the differential
on the staple. subsequently, on success
SiVe advances in foreign ana domeSuc
grades OF the staple, the price rallied to
1135s. The aggregate sales were l,Z6s,504
shares
fairly active. with a downward tendency
in prices. The dealings amounted tc $500,
600. The speculation Of the week was
moderate in volume and firm tone pre-
vailed, although some irregularity in
values was noted. The total business was
Sc. 712000.
The market for governments was
strong. with the exception of a half per
cent drop in the old fours. Marked
strength and exceptional activity char
acterized the dealings IN the new Tours
coupon. A single transaction of 500, 900
took place and the aggregate sales
reached 81, 029, 00Q-
For the week tho unusually large to-
tai of So 267 600 was recorded, the bust
ness being chiefly in the new tours cou-
pon. Slight concessions in prices were
generally made and representatives of
the liquidation interests that had secured
a large proportion of the new loan were
current
Money on call nominally per cent.
Prime mercantile paper 511G7.
Sterling exchange quiet, with actual
business in bankers bills at 4.S712@
ls7% for demand, and Ass and 4SS1z
@4S9 for sixty days. Posted rates
4.s764SS and 4.SS1z94S9. Commercial
bills, 4S51s.
Bar silver. 677s.
Mexican dollars, 5S15.
State bonds dull
Railway bonds easier
Government bonds weak Tor old
tours. others steady