The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-29
Will Street.

New York, Aug. 2S-Noney on call
active at 6@1o per cent; last loan at Z,
and closing offered at Z. Prime mercan-
sile paper, SOC per cent Mexican dol
lars. 5l9s@564. Sterling exchange de-
moralized. with actual business in bank
ers' bills at 4.Sl1k@4.S21a for sixty days
ann 4.S315@4.S4 for demand; posted
rates, 4.S2l3@4.S5. Commercial bills,
4S0@4S11s.
Government bonds steady; state bonds
dull; railroad bonds higher.
Silver at the board was quiet.
q Stocks today showed some slight I'M
provement, both in volume of business
and in prices. The transactions In stocks
aggregated I30,764 shares and in rail
way and miscellaneous mortgag es, 1921
COO These totals in ordinary times
would be considered insignificant pro-
portions, but they make quite a COM
parsson with the dealings on previous
days Of the week and gave the brokers
hopes for better things The influx OF
gold was the dominating influence, the
engagements since the import move
ment started about ten days ago foot
ing up nearly S12, 000 900. Better still,
the foreign exchanges are demoralized,
and everything points to a continuance
OF the movement Of the yellow metal
from Europe. Discounts in the open
market in London, it is true, have been
advanced and the Bank of England has
raised the price for bar gold, but this
has been offset by a further reduction
in posted rates for foreign exchange.
Today sixty-day bills were quoted at
4S21z and demand ASS, against 1852
and AS yesterday. Actual business,
however, is transacted at 4.S1S4 and
5.S2A for bankers sixty days, and
4S312@4S3% for demand, the lowest
touched since the current downward
movement set in. Predictions of lower
rates for money next week were cur
rent snd they seem to have some basis.
Today the rates ranged from 6 to 10
per cent, but the bulk of the business
was transacted at Z per cent and under.
With gold coming this way and money
less stringent, operators were inclined 70
branch out q little on the long side of
the account, while the bears were dis
posed to cover their short lines. London
also took more interest in our market
and bought st. Paul and Louisville &
Nashville The advance in the general
list was equal to A@25s per cent, Jersey
Central, Manhattan, Western Union,
the Industrials. the grangers and the
intern2tionals leading. The grangers
were strengthened by the unexpected
good showing of the Burlington 6
Quincy for July. For the period named
She company reports a surplus of $685.
322, against deficit of $10,S60 in 1895.
Speculation closed strong with prices
at or near the best figures of the day.
Net changes show advances Of 1a@1z
per cent In the inactive issues, Illi-
nois Steel rose 81 to 401A, and later
Yeceded to 3S5s. Bonds were more active
end strong. Total sales We're 1927, GOO
Atchison general As rose IL to 70; do.
adjustment, Ia to S11S; Kansas and
Texas seconds, III TO 1919; Louisville
New Albany and Chicago Con. SIS
to so: Reading first preferred. IA to
24M: do seconds, to 111s; do. general
as / to II; Southern Railway Con-, SIS,
71b to sig; and Wisconsin Central SIS
certificates, Ia to Is. In government
bonds. $4,000 coupon AS of 1895 brough;
1.11%; $50 600 coupon As of 1907 at LOS,
and $4,000 do. reg. at 1043z.