The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-29
Firrnness of Money a Potent Factor
In Their Favor.
A HOLIDAY APPEARANCE
OF THE MARKET rs STILL AP-
PARENT.
Tt Is Also Marked By An Inclination
to Wait Until Conditions In the
Money Market Become More De-
fined and Settled-Washin gton
Story and Its Effects.

New York. Dec. 2S.-The bears in the
stock market showed somewhat more con-
fldence today and some success in reduc-
ing the prices. The most potent factor
In their favor was the continued firmness
of the money market, but much was made
at one time during the day of the re-
ported Willingness of the secretary of the
treasury 10 resign his Office. The report
was exaggerated into a story tnat the
resignation had actually been made and
the effect Drecipitated selling move
ment which was. however, confined to
the professionals, which early reached
moderate proportions. The market
showed no change from its recent holiday
character and Its semblance of waiting
for conditions i'll the money market to
become more defined and settled Had it
not been for the sustaining influence in
tan, Western Union and Brooklyn Transit,
the scale would have inclined much more
sharply to the side of depression.
SHOWED UP DEBTOR.
Today's clearing house statement
showed the treasury department debtor
on balance to the extent of $1,177234. Yes
terdays Union Pacific payment by the
reorganization committee found a place
in todays clearing house operations. 1t
involved the payment into the suptreasury
OF about $4,500000 in cash. 1t follows that
the subtreaSury paid out today over
600 on balance. The tone of the mar
ket was not, however, markedly easier
loans being made, as on yesterday all the
way from 31ato AZ, with exceptions at the
close at 8 per cent. Sterling exchange also
continued steady. There are still several
million OF Pacific bonds which mature
on Jan. l, and which are now available
for redemption under the government S
offer, but it is difficult to estimate how
far the owners of the bonds will avail
themselves of the opportunity, the rate
being 80 per cent from 80 to 80 days, indi-
o1f nc n holt eff 11nt hn ra n
tinue stiff after the first of the year.
LONDON DEMAND.
The demand for money in London and
change and it is believed not improbable
that the Bank of England will advance it's
minimum rate. There is perfect conf
dence that this would not prevent move
ment of gold in this direction if any real
stringency was threatened.
The bond market showed some irreg-
ularity, sharp advances being shown in
some isues while others were conspicuous
" heavy The total sales were s., OOO, 900.
United States old As registered declined
Is, the new As registered Il bid; the old As
registered later at 112$4, the asked price.
MONEY MARKET
Money on call firm 21ad41@ per cent; last
loan per cent; closed 212Gl3 per cent.
Prime mercantile paper, 313Q4A per cent;
business in bankers bills at 4S44@4S4l4
for demand. and at 4.S11aQ4S1A for 60
days. Posted rates. 4.s215d4.S3. and ASH
| CASE. Commercial bills, 4S01aG4.S1.
Silver certificates, 5619q5S.
Bar silver. 56%.
/ Mexican dollars, 455s.
/ Government bonds. weak State bonds,
/ firm. Railroad bonds, strong.
SALE OF STOCKS.
Total sales of stocks today 294,7 zoo shares
including. Atchison preferred, 1850; C. B.
& O., Is. 300; Manhattan 1886; Met. Street
railway, 1886; Mtssopri rqPacifis, 3 JOB