The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-05-04

| New York, May 3-There was a
greatly improved tone in the dealings
to stocks today and they held appre-
also increased somewhat, but it is still
extraordinarily small. This resulted in
increased confidence in stock markets
concerning the gold shipments to Eu-
rope. The fact that new engagements
for export were made today with ac-
tual business being done in demand
sterling for 4.S7A to the pound, con-
firms the belief that the gold export is
not the result of national deficit, but
special demand for gold, involving
the payment of a premium for it. The
closest estimate that can be made
shows the profits on gold shipments to
cease when demand sterling falls to
4SS. The fact that a premium must
be paid for the present gold shipments
is coming to cause the operation to be
regarded as a business operation profit
able to the country and as a healthy
indication of the abundant supply of
gold in the country, marking 1t as the
best source of supply for a special de-
mand such as that of Austria at pres
ent, with Russia and japan also strong
ly attracting gold, all this demand be-
ing for correct conversion purposes.
Although the United States treasury
has supplied nearly all of the stock of
gold for the present movement, the
movement of gold into the treasury
continues at apparently the same rate
as for some time past. The current
government receipts are also in excess
of expenditures because of the heavy
importations of dutiable merchandise
to anticipate the new tariff bill While
these impOrtatiOnS serve TO make the
exchange situation more adverse, their
benefit to the United States treasury
and the consequent safeguards to the
currency is viewed as a compensation
in part at least.
The fact that the price of gold bars
and American eagles was reduced in
London and that the Paris rates for
sterling exchange rose slightly, have
also given rise to the belief that there
may be only a small shipment of gold
or none at all by next Saturdays
steamer. 1t remains to be seen wheth-
er this hope is justified. The brighter
aspect of affairs on the London ex-
change was also a favorable factor in
today's market Gains ranging from
to IL occurred and fractional gains
were general all through the list, the.
railways closing at near the top prices.
The closing was firm, and With the
exceptions noted net gains were gen.
eral The bond market displayed in
creased activity and there was ma
teriaI broadening. A = Nber of the
usually active shares rt-cipated in
the speculation. The G. llge,, lacked
consequence, but a decidedly firm tone
was apparent. The aggre gate ,iales
were $l050,000.
Governments were pressed for sale
and showed concessions of a fraction
in the more active issues. Sales.
$4,000.
Money on call easy at 11a@2 per
cent; last loan, 2; closed, 1s@2 per
cent.
Prime mercantile paper, s1k@4 per
cent.
Sterling exchange steady with actual
business in bankers bills at 4.S7A@
4.s71a for demand and at 1864 @4.S61s
Posted rates. 4.s7@4SS1s.
Commercial bills, ASH.
Silver certificates, 61A. Bar sill
yer, 81.
bonds, dull: railroad bonds, firm.
Coffee-Options opened dull, 5G10
points lower; closed steady, 10000 !
points lower. Sales, 1880 bags, in
Guiding May. 7.45.
Spot Coffee-Rio, dull: No. in
voice. s: No : jobbing, S12; mild. quiet; !
Cordova. 1201315. Sales, 500 bags. Rio |
No. to arrive. &C.; 500 bags Maracai- !
DO. basis HOAX.
Sugar-Raw. steady; fair refining. /
"a centrifugal 90 test, 3A; sales. 500 |
bags centrifugal SO test. 3A 500 bags !
and So hogsheads Muscovado SO test, /
pa Refined, steady.