The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-11-05

NEW YORK, Nov. Mooney on call
easier at 31kGlO per cent. Last loan at
T. and closing offered at 4.
Prime mercantile paper, 6q1 per cent.
Mexican dollars, 50951A.
Sterling exchange is heavy, with act
ual business in bankers bills at 4-SO1s
Q4-S1 for go days. and 4.SS1s44S4 for
demand. Posted rates, 4.S11AQ4.S5.
Commercial bills, 4.7994SO.
Government bonds strong; state bonds
quiet; railroad bonds buoyant-
The decisive victory gained yes
terday by the advocates OF
sound money" exerted a highly
favorable influence on American
securities both at home and abroad
Early cables from London report a
sharp advance in Americans ali along
the line The feeling there was de-
scribed as more confident than for a
long time. and the rise in prices was
partly attributed TO the purchase OF
IL 600 shares for American account.
Local concerns who had the foresight 10
keep omen last night-a new departure
by the way-caught this business. The
opening dealings here were attended
with great excitement. Commission
houses reported a perfect Hood OF or
ders, and operators who have been hoId-
ing off pending the outcome OF the
presidential contest, were also eager
BUYERS. Stubborn bears covered espe-
cIally in the industrials, and the floor
of the Stock Exchange presented a
lively appearance. Contributing causes
TO the buoydncy were break OF l cent
in the posted rates of sterling exchange
to 4SI1s and 4.SJ, a decline IN call
. loans 10 31a per cent per annum, due
to the offerings of over Two ana one-halA
millions by leading private bankers;
an increased inquiry for commercial
paper; the disappearance of the pre-
MUM on gold and an advance in me
United States per cent bonds of 1879,
of nearly per cent 10 1.20%s. A belief
that the gold recently boarded by timid
capitalists will soon be released, now
that the premium has been wiped out,
was not without its influence. When II
is recalled that nearly $50, 100000 or the
gold imported since August IS last can
not he accounted for. the Importance
OF the pending change in monetary
conditions can he realized The i'm
provement at the opening ranged from
u 10 So per cent.
Sugar rose 60 to 125; Lake Erie and
Western, preferred, 61s to 721s; Wheel
ing & Lake Erie preferred, 5% TO 80;
Jersey Central to 10; United States
Express, TO 40: Tennessee Coal, AS
to 81: Brooklyn Union Gas, AZ TO "a;
Consolidated Gas, AZ to 154A; Mobile
& Ohio. Az to 221e; Pullman, to 100;
Bay State Gas, to 221s; Minnesota
Iron. to 60; ST. Paul, to S0;-St. Paul
preferred, 10 129; Metropolitan Trac-
ton, to 105; Lake Shore, S24 to 15S,
and the other active issues anywhere
from ! to So per cent. In the after
noon session the market was Irregular,
owing 10 profit taking, and reaction
of 1Ad2 per cent was noted Bay State
Gas and Sugar, however. receded 4
pr cent.
Speculation closed firm in tone.
Atchison shows gains of IL to 312
per cent, Chicago Gas leading. The
transactions were heavy. footing up
$4,000 shares, including 5000 Reading,
O.. 900 ST. Paul, 81, 400 sugar, and 81, 400
Burlington * Quincy.
The railway and miscellaneous bond
market was active and buoyant, in
sympathy with the rise in stocks. The
transactions footed Up the enormous
total OF $4,l42,000 The advance ranged
from l 10 points, and was most pro-
nounced in the southwestern, western
and Reading issues.
Government bonds gained 162 per
cent $40 zoo coupon As of 1929 brought
I19lz@l2O2s, $4,000 reg. IS. 111Aqll14ls,
and SD, 900 coupon 5's. 111&Q1l2.