The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-03-25
WALL STREET.

NEW YORK March 24.-Although the
dealings in stocks today showed i'm
provement over yesterdays record,
manipulation was no less potent an in
1iuence, and the trading reflected in
decision on the part of TIE profession
ais Business was indifferenuy distrib-
uted. but although Sugar overshad-
owed any other individual stock, in
point of activity. the railroads attract
ed rather more attention than the in
dustrials as a group. London prices
came lower for Americans and the for
eign dealers sold securities and chiefly
st Paul and Louisville & Nashville in
this market This fact, and an advance
in foreign exchange rates, had a dis
turhing influence upon prices. The
strength of exchange in the face of the
comparatively moderate demand caused
unfavorable significance to attach to
the continued foreign selling, which it
was feared might cause a rise in rates
10 the gold export point In addition,
stress was laid by the professionals
upon the somewhat unsatisfactory con-
dition of railroad rates in the west and
in the northwest, and upon the old topic
of the light movement of corn. On the
other hand. the money market eXhib-
tied a slightly easier tendency and
money lenders were reported to be more
disposed to buy commercial paper. al
though the lines as to the quality of
collateral were as keenly drawn as
ever The conflicting reports in rela-
ton to the crop prospects usually in
cidental at this time of the year are
beginning to be noted. On the one
hand it is said the abundant snowfall
and rains all over the country have inn
proved the outlook for winter wheat;
on the other 1t is urged by authorities
that considerable damage has been done
to the crop owing to the
rapid changes in temper. Other
unfavorable factors are the
prolonged uncertainty of European
politics and the infiammatory tenor of
the discussions in relation to the Gu
ban question at Washington. Liquida-
ton was apparent in a number of
stocks, the traders were on the alert
for weak spots. Besides being the lead
CT in activity. Sugar displayed the
greatest weakness, Offering little re-
sistance to an attack based on reports
OF unfavorable trade conditions. The
recessions in the general list were less
important, and ranged up to per cent.
in Tobacco and Burlington. At the low
level. shorts were liberal purchasers
in the afternoon dealings, and under
the leadership Of Sugar and Chicago
tTaS the entire IlSt improved. Inc nrSt
mentioned rose 10 l15 and the latter
advanced ga per cent, fractionally
reacting at the close. The Improvement
in the railway list was within a range
of per cent. Speculation left off
strong in tone with light net gains.
Prices Of railway and miscellaneous
bonds sagged during the greater part
of the day but toward the close there
was evidence of support in a few is
sues. The aggregate dealings were
S1.215.00o
of 27,50C.
Money on call easy at 3G3h; last loan.
3; closed 9d31a. Prime mercantile paper
sac per cent. Sterling exchange firm.
with actual business in bankers bills at
4.SSn4.SS1z for demand, and 4S7d4 sly for
50 days; posted rates. 4S7i614SS and 4.s9.
Commercial bills. 1861; bar silver, 6Sk;
silver certificates, 6S1z d69.