The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-11

NEW YORK. June 1o.-Wall street
today was rudely awakened from the
lethargy which has recently prevailed
in lis precincts, decided activity and a
semi-panicky condition being noted for
an interval in the early afternoon. The
decentralization grew out of stock
jobbing report, emanating from Wash
ington, that President Cleveland was
about to send to Congress a vigorous
message on the Cuban question
The effect on the stock market was
instantaneous and holders>of securities
began to throw them over right and
left
One of the largest commission houses
was a liberal seller on the report and
took back a considerab bic amount of
various stocks on the publication of
an authoritative denial of the rumors.
Stop loss orders were received all
along the line and considerable uneasi-
ness prevailed owing to the tension in
financial circles. The traders also
made effective drives at the list bear
leader who has not been conspicuous
in the market for some time being
foremost in the attack
THE LOSSES SCORED
at the extreme low point ranged up
TO SA per cent and the selling was
OF a general character
The market opened irregular, but
soon displayed a gaining tendency. The
specialties again received particular
attention from the traders and evidence
Of liquidation of inside interests was
followed by effective raids The early
losses in the railway stocks. however.
old not exceed a point, except in a
few instances.
The market lapsed into dullness after
the first hour, but a better tone was
noted and improving tendency of
prices. The upward movement culmi-
mated about l o'clock, when the bogus
Cuban report referred TO came like a
bon out OF clear sky, the railway
properties being this time severely de-
pressed in common with the other
shares. Missouri Pacific declined ~
per cent. Other noteworthy losses AT
the low point included Atchison pre-
ferred 2$s; Sugar, 2; Pacific Mail, ia.
The pressure against the list subsidized
around l:30 and the sentiment was
rather nervous. In the subsequent
dealings
A GREAT UPWARD MOVEMENT
U
cent ensued. The close was irregular.
In the late operations rumors were
rather confidentially circulated OF
probable large exports Of gold on Sat
urday it being alleged nearly all of
the shippers usually prominent in the
gold movement were Offering bills
against exports of the yellow metal.
No estimates were made, however.
The monthly government report which.
as usual, was not published until after
the close Of business, was about up
TO the general expectations.
Railway bonds were depressed in
common with stocks. concessions OF
los per cent. being noted in the lead
ing speculative issues.
The general market left off weak in
tone. The sales were 100000
Government bonds were active and
weak on dealings of S16e.000
Trading in silver certificates was
marked by the purchase of a single
block of 100000 at 60 by a leading
commission house. The aggregate.
dealings were S1050O0.
Money on call at 1902 per cent; last
loan, IL; closed 1902 per cent
Prime mercantile paper, 4G5k per
cent
Sterling exchange firm with actual
business in bankers bills at 4SS15 for
demand and 4.S71s for sixty days: post
ed rates. 4SS@4SS1s and 4S904. S91b.
Commercial bills, 1860