The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-14

NEW YORK, June 13-The specula-
ton today was of the normal half
holiday character. A general covering
movement was INDUCED in which was
stimulated by moderate purchases for
long account. encouraged by the more
cheerful sentiment regarding the finan-
cial outlook.
The market eased off soon after the
opening On realizing, but renewed pur-
chases were made at the low level,
end especially in the granger group
The more encouraging crop prospects
have attracted operators TO those prop
critics and the highest figures OF the
week were recorded for them today.
In the industrial group there were
few changes of importance, aside from
Bay State Gas and Sugar sugar maut
an early concession, rallied l4s on IN
side support and then eased on sAghi-
". The general market closed Strong
in tone at the top level and Wltn
gains of point IN NUMBER ol eie
railway shares.
THE share movement of the week
was irregular. the range being vide
in MANY instances. With the outset
political and financial uncertainties
were reflected in liquidation OF long
holdings on a fairly large scale ana
as usual the bears improved the OPP
portunities afforded by the prevailing
disbursement. The selling was es
pecially marked in some OF the 10"
priced specialties and less satisfactory
industrial reports, including those VI
the iron ard sugar trades, contributed
otr1cF u
The downward movement was strlK-
irgly accelerated about the middle OF
the week by the circulation OF Whal
afterward was proved to be STOCK
1obbing rumor pure and simple, that
the president was about to send a V!g-
orous message regarding the Cuban sit
nation to Congress- The anticipation
Of the declaration of an extra owl
dend upon Sugar stock at the director
meeting early in the week was no@
fulfilled and this fact and decinlng
tendency IN the market for the proouct
led to some selling.
The firmness of the Sterling Elk
change market and fairly large en-
gagements of gold for export eXerted
only passing unsettling influences. Ru-
mors Of an impending advance July
in anthracite coal prices directed at
tention to those properties. resulting
in some sharp gains on moderate tran
sactions The net changes on the week
are irregular and slight, except IN a
few instances. The aggregate sales
were 1000 shares.
Railroad bonds were firm and higher
today with the leading issues active
and scoring gains averaging per cent.
The advances in other bonds were less
important The sales were $685., Goo
In the week bonds moved in sympathy
with stocks. hut with less marked
foctuetions The dealings footed up
$5.5TS. 600.
The government bonds fluctuated but
slightly and were fairly steady, on
transactions of S2S2, 900.
Silver certificates were active AT
about last weeks closing figures. the
demand being chiefly speculative. The
aggregate sales were $26T,o goo.
VIEWED BY THE FINANCIER.
New York. June 1S.-The New York
Financier says this week:
If tie bank statement for the week
ending June Is had bean made TO show
the actual condition OF the New York
clearing house banks up to the close
of business saturday. it is quite prob
able the increase of 50. 190.750 in the
reserve would have been eliminated in
part at least. The withdrawal of two
millions in gold for export by Satur-
days steamers was not included in the
current statement, and the gain in
cash is. therefore. not a fair estimate.
The statement does not show in a
measure, the conditions prevailing dur
ing the week. and the large decrease
in loans reflects the furry in stock eX-
change business OF several days since.
1t is noticeable that money rates DIS
played a temporary hardness during
the last two days of the past week,
and this fact bears out the assumption
that banks were led to contract their
loans for th.e reason mentioned. In
terror remittances continue in heavy
volume 1t is noteworthy OF remark
that for the corresponding week one
year ago the loans Of the New York
banks aggregated s507. 925.50o. or thirty
three millions in excess of the present
volume; and yet rates today are higher
than at that period. The reserve is
about seventeen millions lower.