The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-09

NE 4Oflh, FGD. o.-IIduIuS III
stocks was quite brisk for a half holi-
day. The movement of prices was ir-
regular. Disappointing foreign ad-
vices in regard to the prices Of Amer
lean stocks and continued selling In
this market for account of European
dealers exerted an unfavorable influ-
ence at the outset. Very soon, how
ever, strength developed in the indus
trials, while the railway list exhibited
a sagging tendency.
The overshadowing topic of interest
of the week, both in and out of Wall
street. has been the closing of the bids
for the new 500 000 900 government
loan and the allotments.
Every detail connected with the
event has been scanned with great
interest, both at home and abroad,
and the probable after-effects Of the
loan continue to be discussed by lead
ing f1nanciers, with marked anxiety so
far as the money and commercial pa
per markets are likely to be affected
thereby. It is contended in strictly
Wall street circles that the primary
object of the latest bond issue is like
ly to be in a large measure defeated.
The point is made by those critics
that no small part Of the treasury
stock of gold may be taken to pay for
the bonds and that the net increase
in its resources from the sale of bonds
will fall far short Of present antici-
pations. Already, however, indications
point to q relaxation in the tension in
the money paper market, although bull
lion dealers profess to expect gold as
a commodity to go to a 1 per cent
premium the coming week. The mar
ket has been active and the movement
irregular. The fluctuations have been
in the main dictated by prominent
speculative leaders, although some
good investment buying of the Grang-
erS and a few other stocks has been
noted. Sugar and st. Paul have dis
puted the leadership of the market
and show net gains Of 55s and t312 per
cent respectively. The more important
influences aside from those already
noted have been the news that the
house will on Monday vote upon free
rumors affecting the financial credit
of the Missouri Pacific. afterwards au-
thoritatively denied; persistent selling
of American stocks for foreign ac-
count, and the usual adroitly ar
ranged outgivings of the manipulators
of the industrial stocks.
The net results show advances, in
Guiding Pullman and Rio Grande West
ern pfd., 5 per cent; Northwestern, go.
The aggregate sales were 1,45448, III
shares.
The railway bond market today ex-
hfbited continued strength and adj.
vanced on dealings footed up to
1896, 900.
Government bonds ruled strong and
higher. The new As coupon were in
great demand, $4,000 changing hands
at a slight advance.
Railroad bonds for the week were
strong and final prices for the lead
ing speculative issues are generally
materially higher. The Oregon Short
Line and Northern Pacific mortga ges
were heavily dealt in. The first skies
trust receipts and do. consol fives of
the first mentioned road are I'D 3A and
Az per cent respectively and the trans
actions of the latter company are per
cent higher. The aggregate dealings
were S9,075 600.
The pronounced success of the new
government loan was reflected in a
buoyant market for the issues out
standing The coupon bonds of the
recent issue were in active inquiry
and rose AZ per cent. The transact
lions were mostly all seller 20,
though number were made at "sel-
Ter 10" and regular. The new tours
tent and gains of 2 per cent were es-
tablished in the f1ves and old tours.
The transactions made the total of
S974O0O.
Silver certificates displayed revived
strength and activity toward the close.
The transactions amounted to $4,000,
at from 67sz to 6S1a.
Mining shares were quiet and fea-
tureless on dealings OF $500.
Money! on call firm at 4 D6r cent
Prime mercantile paper, 51sQ715 per
cent
business in bankers bills at 4.S7ai6 SSK
for demand and 4.S69l04S7A for sixty
DAYS.
Commercial bills, ass
States bonds dull.
Railroad bonds strong.
Government bonds strong and higher.
CLEARING HOUSE STATEMENT.
New York, Feb. S.-The New York
Financier says this week:
The statement of the clearing house
banks of New York City for the week
ending February 8 may be a faithful
reflection of the average business of
the first three days of the week, but
as a showing of the actual condition
of the banks at the close of business
1t is matter of record, however,
that the New York bank statements
following the adjustment of the last
three government loans did not indi-
cate for weeks the full effect of the
operations which these loans brought
about, and a recurrence of this delay
is to be expected in the present case.
There are signs in the current state
ment of coming changes in the totals,
Not the least of these, and one that is
gratifying in every sense, is the ex-
pansion in the loan column, which,
following a steady liquidation that has
decreased the loans of the New York
banks almost $4,000, 900 since the first
preparations for the bond issue, shows
that funds are again to be released,
and that a money stringency is not
feared.
The cash holdings, and especially the
specie reserve, will show heavy de-
creases as the payments for the new
bonds are made. A great deal of gold
has already gone into the treasury
from the banks, and it is doubtful if
this is included in the statement. The
banks gained several millions from the
interior within the past six days, and
the increasing deposits was to have
been anticipated.
NEW YORK GENERAL.
Hops-Dull
Wool-Quiet. Domestic foece, 16@22:
pulled, 1926.
Copper-Strong; brokers' 1913.
Lead-Strong; brokers' So.
Silver-673s.