The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-01
Railroad Statements Boosted the
Stock Market.
SILVER SALES A FEATURE
JULY PRICES OBTAINED FOR
BAR SILVER.
Bullion Dealers Have no Other Ex-
PLANTATION to Offer But the Ex-
istence of an Active Demand and
Limited supply-British Con-
soils.

New York, Nov. SO-The principal
factors in todays stock market were the
statements in October of the earnings of
the two great railway systems of the
country, namely, Pennsylvania and Burl-
ington. Both statements made a remark
ably strong showing, but that of Burling-
ton had been discounted by a more active
speculation on the rumors which have
preceded the subject for some time past
having grossly exaggerated the proper
tons of the increase. AS a consequence,
there was some disappointment in specu-
latiVe circles over the Burlington state
ment and some profit taking which i'm
parted heavy tone to the whole of the
granger group until late in the day.
STRENGTH OF RAILROADS.
In the final hour prices of the group
shade in the strength of the general mar
ket Rock Island led with net advance
of IA on reports that the company's re-
funding scheme had been perfected and
the sale of the first block of new per
cent bonds concluded. The October
statement of tile Pennsylvania system
with its increase in gross earnings of
$500 900 and in net of S453, 100 was regarded
as strongly favorable as rejecting a
large improvement in business The stock
of the Pennsylvania rose 2 per cent under
its influence and all of the trust lines
New York Central, Lake Shore & Ca
madam Southern rising from to points
BURLINGTON STATEMENT.
Although the Burlington statement
compared with a very strong month last
year and with one less business day In the
month than last year, and although both
the gross and net earnings fell slightly
below those of September of this year
the falling off from the record month of
September was small. There was a very
marked increase in the operating ex-
panses both for the Burlington and the
Pennsylvania amounting to $40, $50 in the
case of the former and e9S1 500 in the case
of the latter. rejecting the arrearages of
outlay for maintenance which exist gen.
orally in railroad property all over the
country.
The Erie and Lehigh Valley also had
very favorable statements for october, but
ing expenses absorbed large proportion
of the increase in gross earnings
SUGAR ACTIVE.
Speculation in sugar was again very
active all day and the stock rose strong
ly, closing 21a higher than last night. The
approach of the regular dividend period
and expectation of favorable decision
by the treasury department on the ques-
ton of countervailing duties on imported
Dutch sugars We're the cause of the rise
SILVER SALES.
Sales of silver certificates were II 600
ounces at from 1914 to 5S&4, and were also
feature of the day. Bar silver sold at
5J12, price which mad not Deen equalled
before since July %. Bullion dealers have
no other explanation to offer to the
strength of silver but the existence of an
active demand and a limited supply.
The bond markets showed some activity
and strength, high rate issues being very
firmly held Total sales, s1.6S5, 900.
u. S. As registered advanced n bid.
MONEY MARKET.
Money on call easy at 11aQ2 per cent;
last loan, ~ per cent; closed, 112G2 per
cent. Prime mercantile paper, 3G31a per
cent Sterling exchange easy, with
actual business in bankers bills at 4.S5A
60 days. Posted rates. 4S4G4.S7. Com
mercial bills; 4S21aq4 sly;
5916. Mexican dollars, 1914
Government bonds firm. State bonds
dull. Railroad bonds firm.
SALES OF STOCKS.
Total sales of stocks today were 219, 100
shares, including: Burlington, 1887; l..
& NJ $780, Manhattan. 1880; N. J. c.,
1910: Missouri Pacific, $3.50; n. Y. c., s.,
go: Rock Island. 16 145; Denver second
preferred. 1925: st. Paul 1852; Peoples
Gas, 1895: Sugar, 56,225.