The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-07-17

NEW YORK, July 16-The unfavor-
Able influences which dominated yes
erday's stock market were again
lperative today and the speculation
las feverish on a decided increase in
he volume of business. The grangers,
adustrials, coalers and Vanderbilts
fere foremost in the dealings and after
In almost uninterrupted decline in the
General market, leading to breaks Of
"a per cent in the leading active
hares, recoverings were made in the
ast hour, bringing prices up to about
he opening figures. The depressing
actors included Mr.. Vanderbi1t's i'll
less, the decreasing government gold
eserve. further weakness in govern
hent bonds, increased strength in the
breign exchange market and eSti-
hates of aggregate engagements of
sold for Saturday and Tuesday of next
yeek steamers, ranging from S3,OO0,0OO
ID $4,000 00 There was no news bear
hg upon the general situation aside
*om the consideration above noted and
he rally in the last hour was on ex-
ansive covering of shorts based on
erified rumors of the completion of
syndicate for the purpose of pur-
hasing a 500, 900 block of govern
aent bonds. There was also evidence
support at the extreme low point by
owerful financial interests. Moderate
uying of the leading international
hares for the foreign account was
lso noted. The market opened unset
led and fairly active, and after a brief
interval, prices began to sag under
kquidating orders and heavy bear sell
ing. The Vanderbilts and coalers were
lttacked for obvious reasons and the
downward movement in the industrials
we're accelerated by rumors Of dis
iurbaaces in loans due to the recent
levere declines. Continued weakness
n the government bond market, par
icularly in the new tours coupon of
925, was partly attributed to the same
ause. The aggregate Of dealings made
larger total than has been reached
lor a long time, exceeding 100000 shares
tnd the business was unusually well
distributed with sugar and St. Paul
long way in advance of the other
shares in point Of activity. The first
banned was prominent in the early de-
PRESTON which was eventually shared
by the general market. After an adj
Eance at the outset to 1852, it broke 10
02@: and left off with slight frac-
tional net loss. The closing was strong
n tone.
Railroad bonds were active and weak
bn sales of 81, SOS. 600. The more import
bnt losses at the low points included
ktchiSon IS, 13s: Atchison adjustment
Is, 2; Northern Pacific 5s "a.
Governments were quiet and weak
Tor the new fours. Net losses in each
were slight after an early break of q
per cent in the new fours' coupon to
l12sz.
! Silver certificates were slightly
higher on sales of $4,000 at 6S5s.
New York July 16.-Money on call
steady at POPE per cent; last loan,
e11: closed. 259.
Prime mercantile paper, 4@5h per
cent.
I Sterling exchange steady with ac-
-ual business in bankers bills at
ASSs4 G4.S9 for demand, and 4.S7% @4.SS
for sixty days.
Posted rates, 4.SS1a@4.S91s.
( Commercial bills, 400 12@4.S7.
Silver certificates, 69A.
The total sales of stocks today were
G37, $50 shares, including: American To-
bacco. S. 100; American Sugar, $500;
Burlington 100; Chicago Gas, 12,400;
Dfstiiling, 10, 700; General Electric, 6,700;
louisville & Nashville, 10000; Manhat-
tan, 10200; Missouri Pacific, $500;
Northwest, 6,100; Reading, 5000; Rock
island, II, 800; St. Paul, 1890; Tonnes
see Coal & Iron, 5000; Western Union,
{, 800; Southern Railroad, 5000; South
arn Railroad, preferred, 1000; New Jer-
sey Central, $500; Silver Certificates,
10000.