The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-14
Yesterdays Market Strong and
Buying Vigorous.
ANIMATED SPECULATION
IN CHANGERS OVER TIE GOV
ERNMENT CROP REPORT.
Union Pacific Showed Sharp Re
covery From It's Recent Depres-
sion-Local Gas Stoclzs-Call
Loan Rates-Bond and Money
Market-Bar Silver, 5s14.

New York, Dec 13.-Today's market for
securities had every appearance of
breadth and strength, the buying being
vigorous and aggressive and well dis
tributed. The fact was not 10 be ignored
however, that the stocks of southern and
southwestern roads, which were favorites
with the bulls last week, did not share in
the advance proporuonately, the price be-
lne Kept down by liberal offerings. The
JUMP in Sugar to $1.45A in the course of
the first hour stimulated the whole mar
ket. The dissemination of runorS that
an extra dividend was again under con-
s,derat!on was the instrument employed
to erect this rise. and the motive OF ii
appeared III the heavy offerings at the
higher level. The stock was supported,
however, at a certain stage of any decline
all day. ard closed at net advance of
over a point.
SPECULATION OF CHANGERS.
The government crop report, with it's
revised estimate of wheat crop OF $780,
U0O,O0 bushels, caused lively outbreak of
speculation IN the grangers, the ruling
price for wheat with this heavy yield to
draw on, being regarded as inSuring pros
perity to the wheat-carrying railroads.
q. P. RECOVERED.
Union Pacific showed sharp recovery
from its recent depression, on the
strength Of reports that the reorganiZa
ton could be carried through with
moderate increase of the proposed bonded
Indebtedness and preferred stock and that
the subsidized portions of the Kansas
Pacific were not deemed essential to the
success of the plan.
LOCAL GAS.
There was some heaviness in local gas
securities, owing to current ru7nOrs of
difficulty in the way of the proposed
days buying was in large part profess
sional, and commission house business
was on a small scale. London was, how
ever. q liberal buyer of stocks in this
market Quite a marked feature of the
day was the large number of small lots
of dividend-paying stocks which were
bought. This class of buying appeared in
gllt-edged investment stocks, which rarely
move. but which are always manifest
through the list of dividend stocks.
CALL LOAN RATES.
a feature of the day was a stiffening of
call loan rates to 3 per cent, though the
rate sagged off again before the close.
The rise in the rate was attributed to a
sudden and rather urgent demand, whose
offerings We're rather light, for the time
being. Other departments of the market
were unaffected. Net results of the day
are very uneven.
BOND MARKET.
The bond market continued active and
strong, the Atchison and Northern Pa
cific issues being prominent. Net ad
shown in a number of bonds. Total sales,
81, $50 600. U. S. old As, registered were
advanced Il bid; q. S. old As, coupons IS
bid, while the new As declined Is bid.
MONEY MARKET.
Money on call was firm at IL per cent
last loan, >; closed, 2a21a per cent; prime
mercantile paper, 3d41a per cent; sterling
exchange steady with actual business in
bankers bills at $485A04.S5as for demand,
and $4.S21hd4S 2&z for Gu days; posted rates,
$4S3112d4.S4 and s4.S61A@4.S7; commercial
bills. $4.S11a04.S3.
Silver certificates, 5S14@59Ac; bar silver,
5S14c; Mexican dollars, 4S14c,
Government bonds irregular: state
bonds dull: railway bonds strong.
SALES OF STOCKS.
Total sales of stocks today $40 800 shares,
including:
597; Manhattan. $780, Missouri Pacific,
S,515; New Jersey Central, S,0S5; New York
Central 1886; Northern Pacific, S,915;
Northern Pacific preferred, 1,250; Rock
Island, 1850: st. Louis & San Francisco
first preferred. $3.50; st. Louis e San
second preferred, 6,S91; st. Paul,
"a, $40; Southern Railway preferred, 1900;
Union Pacific, 1890; American Tobacco,
5, 800; Chicago Great Western, 10.900; Peo-
pies Gas, II, 700; Consolidated Gas, $3.50;
Sugar, $50: U. Rubber, $500.
ROND QUOTATIONS