The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-29
Profii-Taking Responsible for the
Reaction.
MOVEMENTS OF GOLD
BELIEVED 1T Is OVER TEMPOR-
AR1LY AT LEAST.
Government Bonds Steady, State
Bonds Dull and Railroad Bonds
Firrn-kansas City, South Omaha
and Chicago Live Stock-StcrIins
Exchange Steady.

NEW YORK, Sept. 2S.-Money on call
easy at 3@4 per cent; last loan at 81,
and closing offered at S15 per cent.
Prime mercantile paper, 7 q 5 per cent.
Mexican dollars. 5O1a@521z. Sterling ex-
change steady, with actual business in
bankers bills at 4.S115@4S1l for sixty
days and 4.s4@4s41z for demand. Posted
rates, 4S21sG4S5.
Commercial bills, 4.s015@4.S11.
Government bonds steady; state bonds
dull; railroad bonds firm.
Silver at the board was quiet
The tendency of the prices during the
greater part of the day was downward.
Profit-taking was mainly responsible
for the reaction, and an advance in the
posted and actual rates of sterling ex-
change, the poor statement for August
made by some of the leading roads and
reduction made in the prices of re-
fined sugar were also contributing
factors. The advance in sterling ex-
change and the higher rates for dis
counts in London created an impression
that the movement of gold this way was
over temporarily at least and in the
absence of details, little credence was
placed in the London rumor Of a, prob
able shipment of $5,000,000 gold for New
York this week. The unfavcrable de-
velopments referred to induced some
selling for the short account and close
observers of the markets course were
Of the opinion that the bear interest
had been considerably extended during
the session. The grangers and indus
trials received the principal attention.
OF professional operators. st. Paul de-
clined point to 72% and Sugar IA
to 11$4. The report that southern cap
italists had secured the Camden REIN
cry and intended TO consolidate it with
interests opposed TO the trust found
few believers in trade circles The ru-
NOR Of a further reduction in refined
late in the week, however, led to fresh
sales in the afternoon trading. Other
specially weak stocks were Manhattan,
Burlin gton, Chicago Gas and Tobacco,
and at one time these showed losses of
10115 per cent. Near the close a firmer
tone prevailed and a rally of 4@1B per
cent followed. The recovery was at
tributed to a covering of short con-
tracts. Speculation left off firm. Net
changes show declines of A@13s per
cent; the latter in Burlington. In the
inactive issues, Illinois Steel fell ~
to AZ, while st. Paul preferred jumped
to 12912. Total sales were 1S4,447
shares, including 33,400 ST. Paul, 31,So0
Sugar and 21,S00 Burlington.
The bond market was firm and total
sales were S., 292, 900. Burlington, Cedar
Rapids and Northern SIS rose rs to
los; Colorado Midland con. As certifi-
Gates to II; Chicago, st. Louis & New
Orleans gold SIS 2 to 116; Edison IL
Illuminating con. IS to 10S; Erie prior
lien rs to SO; Iron Mountain Gas SIS
2 to II; Louisville & Nashville, unified
As 12 10 T3K. Kansas &, EaSterO rs
IA to 81; Mobile & Ohio As to 6914;
Virginia Midland gen. IS, stamped,
to 90, and st. Paul. Chicago & Mis-
souri, River IS ~ to 1906
In government bonds $1,000 coupon
SIS sold at liz.