The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-05-12

New York, May H.-Today's markets
for stocks continued to be strong and
prices advanced ali around as long as
the London exchange was in session
10 impart its buoyant influence to the
local market The dealings showed
some animation and increase in volume
and the rise in prices was easy and I'M
Interrupted. But the spirit of pessimism
was too strong to last very long, after
the adjournment of the London eX-
change, even with Isondon continuing
to buy quite heavily in this market
after the close of ITS exchange.
The price of Americans in London
have halted somewhat up TO this time,
in spite Of the general improvement in
that market growing out of the subsi-
dance of the alarm over the war in the
east, because London waited for New
ork to give the cue for an advance.
Today, however, the general tone in
London was so strong and the improve
nlent so general that it extended to
the Americans without waiting for
New Yorks initiative The cessa ton of
the days trading in London was fol-
loved by the announcement here of a
$50o, 900 gold shipment on Thursday and
this was followed by vague rumor
that shipments for the week would
pro baby reach total of $1,000 900. Al
though gold shipments have been eX-
pected and confidently predicted for
this week, the bulls lost heart in the
face of the actual announcements and
the market sold off with no subsequent
recurrence of decisive strength. AS a
matter of fact exchange rates eased
peFceptibly with the offerings of bills
against the gold shipments and the
large purchases of securities by Lon
Cd oh Of
stocks and some large blocks Of rail
way bonds.
The Improvement in the price of
Ia ffirs in London today is another fac
tor to be considered in the exchange
situation, as the heavy liquidation OF
Paris holdings of the securities on the
London market is the reputed cause
OF the Paris demand on London for
gold, ard indirectly of the shipments of
gold from New York TO Paris. These
elements in the situation make the vol
time of gold to be shipped from here
this week still more problematical, with
a growing likelihood that they will be
less than was anticipated. But these
,onsiderations did not allay the appre-
tensions of the traders and they al
lowed prices to decline AS a conse-
Quence, net changes on the day are
generally very narrow. but as a general
rule al lof the early gain is more than
HtSJ with resulting net losses OF d Irdc-
ton, the volume OF dealings greatly di-
minishing on the decline.
The bond market displayed stiffness
generally in moderate transactions with
renewed foreign buying the feature
The arbitrage houses took blocks of
various issues. which included At
Gibson, Northern Pacific and Fries. The
sales were 81. 1874 600. e.
Government bonds displayed re-
dictionary tendency and sagged slightly
on sales of $39, 00O
The total sales of stocks today were
1851 shares, including: American
Sugar 10. 700: Burlington, -. 700; Chi
cago Gas. 26, 700; Omaha, 5000; L. 6. N,
$500: Manhattan. 200: Northern Pa
cific preferred. $500; Pacific Mail. 3.400:
heading. 800: Rock Island. $500: St.
Paul, 1880: Western Union. 11,eO0; New
Jersey Central. 1900.
Money on call, easy. at HOB per
cent: last loan, IL: closed offered at
IL 7112per cent. Prime mercantile pa
per. 315641a.
Sterling exchange easier, with actual
business in bankers bills at 4.S7A a
4S735 and 4.SS1Ad4s9; commercial bills.t
S51k "A S515 Silver certificates, 6015d
61 bar silver, 603s.