The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-21
Earnings of Railroads the Best Fea-
ture of Wall Street. 4qtsa
MOVEMENT OF COTTON
GAVE STRENGTH TO SOUTHERN
RAILROAD STOCKS.
Sugar Strong by Reason of Treasury
Department Decision-Exehange
Firm, Money Easy-Bonds Strong
In Sympathy With stocks-New
York Loans to London.

New York, Oct. 20-Today'S market
looked very much as though an effort was
beng made to test it for q rise. Many of
the professional traders have concluded
that liquidation has about run its course
and there has been a cessation of the bear
campaign. Opinions have differed among
the professionals as to whether the con-
ditions in the stock market are ready for
q sustained advance in prices again. Inc
bears made an abortive effort early in
the day to raid the market and directed
an attack against sugar and Chicago Gas.
The failure of the raid encouraged the
bulls to aggressive action, nd there were
indications of the temperance in the
terests which were prominent in the late
rise This
PROFESSIONAL BUYING
carried prices up best advances through
out the list ranging from ] to points.
But the bulls We're apparently satisfied
With a short turn and they commenced
to sell to realize profits about half an
hour before the close. ThiSscarried prices
down in some cases below last night S
close and where net gains are made they
success of the bears was frustrated in
part owing TO the special strength in
sugar and Chicago Gas, upon which they
! relied to work a sympathetic decline in
on the decision of the treasury depart
fnent to hold Dutch refined sugar con-
diuonaly liable to the counterVailing duty
! which applies to imported sugars upon
y lich an EXPORT bounty is paid.
chicago Gas derived strength from
Tumors of compromise with the threat
ened competition. The market showed
considerable
INCREASE OF ACTIVITY,
as compared with the last few days, but
don changed from its recent attitude and
sold stocks here. Additional reports of
railroad earnings for the second week in
October all show handsome increases, and
many vague rumOrs were dflodt of Still
! more Striking improvements to be shown
in statements not yet issued. The large
movement of cotton along lines recently
released from quarantine restriction was
shown by reports and gave strength to the
( railroads affected.
EXCHANGE MARKET.
The exchange market continued firm
; and the local money market easy, the
small withdrawals OF American eagles
/ from the Bank of England for shipment
/ for New York not being considered of
! Importance. Some business is being done
| i'm the placing of loans ON hong STIRRING,
! which is IN effeo, the rendering of money
( abroad. This naturally tends to keep up
| of the local money market and the large
/ resources in hand by interior banks,
| owing 10 5he Large payment of de@ts ISL
/ lowing the crop movement, are the in
+ ment of gold this way.
! Bonds were strong in sympathy with
I stocks. One 1900 block of UIion Pacific
] collateral TRUST notes was sold ait 6S and
! another block of $50 900 at tine same price.
I Total sales. 81. S25. 900.
( U. S. new As advanced u bid and the
/ SIS coupon declined Il bid.
MONEY MARKET.
New York Oct 2O-Money ON CAL
1 steady at 2a21z per cent; last loan, ~,
( closed. 2fi2&4 per cent. Prime mercantile
( paper. 4fI41a. Sterling exchange firm with
J aycirlaA business in bankers bills at 4.S41l
/ Q4S41s for demand and at 4.S9als 214 foI
/ GO days. Posted rates 4.S2di.S2lA and 4.S6
! Commercial bills 4S11a. Silver certificates
/ 59d60. Bar Silver, 59i4. Mexican dollars,
4534
Government bonds strong; state bonds
! dull: railroad bonds steady.
SALES OF STOCKS
New York. Oct 20.-Total sales of stocks
today were 4O2.2O0 shares including
Atchtson, preferred. $40; G. B. 6 O., q.
Missouri Pacife, 24590; New jersey
Central, $500; New York Central. 11SOS
I Northern Pacific preferred, II, 1875; North
west, 400; O. & w, 3, III; Reading, $3.50
Rock Island 1929; st. Paul ZT,1T0: ST
! Paul G. Omaha 1175l Southern Railway
preferred. 1920: Unipn Pacific t. 7. sec
on1 assessment paid, 500; Wabash pre-
fe.re1. 1900; American Tobacco 1928
Boy State Gas $50; Chicago Gas, 3l,4S0
Pullman 1852; Sugar, g, 29i; Tenn. G. &
l.. 5.225; Western Union, 1906; Chicago
Gqear. WesteGn, H,l35.
BOND QUOTATIONS.