The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-01
Last Weeks Engagements Foot
Up the Sum of $4,000, 900.
MONEY MARKET STRONGER
MORE CONFIDENCE In MISCELLA-
NEOUS AND RAILROAD SHARES.
Further Engagements of Gold From
Abroad For New York-Bonds Are
Strong-SIight Decline in Grain
Cattle in Slow Demand.

NEW YORK, Aug. 31.-Money on call
easy, at 6@12 per cent; last loan at 8,
and closing offered at 8.
Prime mercantile paper 500 per
cent.
Bar silver 66ss; Mexican dollars 51as
Q5SA.
STERLING exchange, steadier with
actual business in bankers bills at 4.S2
Q4.82A for 60-days and at 4841aQ4 S4%
for demand; posted rates 4.82a4 @4.S5;
commercial bills 4.S1@4.S1A.
Government bonds strong; state
bonds dull; railroad bonds higher
Silver at the board was neglected.
A more confident tone characterized
the railway and miscellaneous shares
and business was on a larger scale.
The transactions in stocks reached a
total of 214, 1856, and bonds, $685., 900. At
the opening there was a slight period
of hesitancy, cables from London re-
porting American securities slightly
lower today An announcement of
further enga cement of $3,600,000 gold
abroad for shipment to New York soon
brought about a decided change in
sentiment and the market ruled strong
until late in the day. There was eX-
tensive covering Of shorts throughout
and even commission houses had a
little more to do. The great factor at
work, however, was the importation
Of gold, the amount now on the way
and arrivals of last week footing I'D
the large total of S1S,000,0O0. This, it
is expected, will relieve the tension in
money, and some of the brokers in con-
sequence were disposed to cover up
their short contracts and assume risks
on the bull side. No clearing house
loan certificates were called for and
from present appearances it is not like
ly that any will be issued. This is
also having its influence with the trad
ing element. The rise in prices ranged
from ~ to 3ss per cent, the latter in
Tobacco, which advanced from SO to
607s; Manhattan Sugar, the Changers,
Lake Erie and Western preferred and
Lackawanna gained Ia to 21a per cent
During the afternoon the trade was
less active and near the close money
jumped to u per cent bid. At the
time sterling exchange showed a
tendency to strengthen. Actual rates
recovered fractionally, thus reducing
the profits on gold imports. The result
was that some of the smaller bulls in
stocks decided to take their profits,
and their sales brought about a gem
eral reaction of A@1A per cent. At
the close, however, the market was
firm in tone. Net changes, showed ad-
vances of 11k@214 per cent on the day
Louisville & Nashville lost 5s per cent
on selling for London account. In the
inactive issues Illinois Steel fell az to
3012 and recovered to 9S1s@37: Min
nesota Iron dropped 8, to 40, and rose
to 1904; lead preferred advanced to
so and Metropolitan Traction 31z to
911A. Sugar, which was the most ac-
tive stock, figures for over 1920 shares.
Bonds were strong. c. & o. general
41as rose to 6S; Chicago and Northern
Pacific 5s certificates, rs to 3S7s; Hook
ing Valley Con. IS 31s to S31a; Iron
Mountain general SIS, to 70, Northern
Pacific firsts 2 to liz; Northern Pacific
thirds 81 to 611a; Northern Pacific
Consolidated IS, 21a to AZ; Oregon Short
Line Is IL to 1O4; Oregon Short Line
Consolidated IS, 1% to 577s; st. Joe &
Grand Island first certificates to 80;
Texas Pacific firsts, to rs, and Den
yer & Gulf Consolidated '5s, to 28A.
In government bonds $500 coupon
As of 1925 brought 113ss@1131a; $4,000
coupon reg, 113; $4,000 reg. 5s, 1895 !;
$1,000 coupon As of 1907, 1063s.