The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-21

NEW YORK, Feb. 2O.-The stock
market displayed a considerably inn
proved tone today. Business was on
an increase and the dealings were fair
~ well distributed. The speculative
sentiment aside from the purely local
factors, was favorably Influenced by
renewed foreign buying Of our securi-
ties, which was reflected in sharp ad-
vances in the international stocks. The
change Of front abroad is due to va
riety OF considerations. 1t is being
recognized that apprehensions which
bore heavily upon our speculative mar
kets month or two ago are now en-
tirely dissipated. The prospect of fl
nancisl legislation during this session
of congress is remote. and in Europe
as well as in this country decidedly
enlarged estimate from previous cal
culations as 10 the net gold results 10
the treasury from the government loan
are made. 1T is figured out by eXpe-
ssenced 1inanceers that the proceeds OF
the sale Of the bonds may bring the re
serve UP to about s120O00.000. Treas
ury officials express the opinion that
practically ali Of the bond payments
will have been completed by the mid
ole of next month. his theory, if jus
tilted, narrows down considerably the
chance of danger of disturbance Of the
money market.
Today's speculation undoubtedly
received some impetus from prominent
local banking interests and rumors of
progress making toward the rehabili-
tatiOn of the Northern Pacific company
exerted considerable influence. Accord
ing to the best authority. however,
current reports purporting to forecast
the details of such reorganization are
largely cOnjectural. 1t can be stated
that no plan has been passed upon
definitely and chiefly for the reason of
local obstacles still existing. At the
outset general fractional improvements
in prices occurred, followed around
midday by recesSionS on realizing
sales. The upward trend of prices was
soon resumed but the gains were not
of special Importance until the last
hour when the purchasing movement
attained full force. The commission
houses report increased business COW
ering, and {, number of hitherto neglec-
ted shares and shorts contributed to a
considerable extent toward the rally.
Continued strength and activity in the
government bond market was again
a feature, the new coupon tours rising
to lis on large transactions. The clos
ing was strong at general fractional
net gains.
The railway bond market exhibited
animation and strength; the gains be-
ing widely distributed. The Northern
Pacific issues were again conspicuous
for activity and Improvement On the
other hand oregon Improvement con-
sol SIS trust receipts made a decline
of "a per cent. to 2515, with subse-
quent rally of Der cent Oregon
Navigation IS trust receipts dropped
as to 921k but recovered to "a. The
aggregate sales were SO. 339. 900. The net
gains were material in many instan-
ces and extended to 5 per cent in Cen
eral Electric debenture SIS. The
strength of the government bond mar
ket was undated. with the new cou-
pom as the feature. The aggregate
sales were $685., OOG.
Money on call easy at 31504 per
cent; last loan. 35s; closed, 3631a
Prime mercantile paper, 51sG7 per cent
Sterling exchange, steady, with actual
business in bankers bills at 4.S715G
4-S7Sz for demand and 1851 64Se1k for
sixty days. Posted rates. 4.S714 .S71h
and ASSh@4S9. Commercial bills
4S515. Bar silver, 679z. Silver certifi3
Gates, 6S96SA.