The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-03
Wall Street Trading Resulted In
General Gain.
STRONG OUTSIDE DEMAND.
CROP DAMAGE REPORT STARTED
A SELLING MOVEMENT.
But the Changers Developed Strength
at the Close-Large Volume of
Business In the Bond Market
Advance In Wheat at Chicago
Steady Prices For Cattle.

New York, Aug 2.-The market fol-
stocks today displayed an irregular
tendency at times, but the net result OF
the days trading was a general aver
age gain extending all through the list.
1t was the general outside demand in
the market shown by the purchases
made by the commission houses that
checked the slight sagging tendency
which developed at some points in the
list The professional bear operators,
who are constantly watchful for the
reaction which they think must come,
after the long upward course of the
market, made some attempt to take
advantage Of this sagging tendency
and to extend the weakness through
the list But they soon retired from
the field. Some reports of crop dam
age gave the ground for a selling
movement in the grangers and also in
the southwesterns, but it was short
lived. The commission house buying
was sustained and the general list was
supplemented by the large buying in
individual stocks, melted by special
causes.
Consolidated Gas continued to show
the aggressive strength which has
characterized it recently. This strength
is believed to be connected with the
approaching declaration of a dividend.
Other local gas securities failed to de-
velop activity or to show any sympa-
tnetic strength. Chicago Gas, how
ever, continued its upward course and
and its pace made the long PREDICTED
passage Of the par mark, selling as
high as 1007s. This is a new high price
record, the previous highest price, $685.,
being made several years ago but only
momentarily maintained.
The Northern Pacific preferred stock
was also a center of strength, due to
the belief that the voting trust has
agreed upon q, basis of harmonious adj
justment with the interests in SYM
pathy with Great Northern. The price
rose rs, but reacted partially on ac-
count Of the difficulty in securing any
authoritative confirmation of the very
explicit reports set afloat regarding the
choice of the new president.
A number OF the new industrial
stocks were especially strong, notably
Sugar and Tobacco, the former show
ing recuperation from its depression af-
ter last week and rising sharply on
short coverings. Leather was also
prominent; the grangers effectually
overcame the early attempt at a raid
and developed strength. Chesapeake
OF the earnings.
The weakening of the exchange mar
ket was the refutation of bear rumors |
that further heavy gold shipments |
were to be made this week. The gains |
were: Sugar, 3; Consolidated Gas, 51s; |
Chicago, Indianapolis & Louisville, 21s; |
Ann Arbor. 2: Western Gas, 21s, and |
Tobacco, Cotton Oil, Brooklyn Rapid |
Transit, Cleveland and Ann Arbor |
preferred. The noteworthy declines
were Laclede Gas, p; East River &
Missouri Pacific. fraction.
Business continued in large volume |
in the bond market, the speculative
issues absorbing the bulk Of the deal
ings. Kansas Pacific Consolidated
showed decided strength but realiza-
tons caused asheavy tone in the Atchi-
son mortgages. Sales were 50, $4,000.
Governments were dull but firm on
purchases of S11,Ooo.
Total sales of stocks, 389, S95 shares,
Atchison preferred, IL, SS8; c.,
B. & O., 11,39S; c, c., c. & St. L., 49,
Los: Louisville & Nashville. 1880; Man
haitian, 4,OsS; Missouri Pacific S,916;
Kansas & Texas preferred,
J. 200; n. Y. S. & W. Va, 40; do. pre-
ferred 1880; North American, APO;
Northern Pacific, 5.543; do. preferred,
S6, 240;- Rock Island, 1,125; St Paul,
Ie, $3.50; st. Paul & Omaha, $50; South
%, ESQ; Chicago Gas, 81 $3.50;
Gas, 1927; General Elec-
-ric, $500; Sugar, 1926; United States
Leather preferred, GAS; Western
Union, 9,454; Chicago Great Western,
L, 1890.
Money on call easy at 1@1A per cent;
asst loan 1 per cent, closed offered at
FER cent.
Prime mercantile paper, S@4 per
cent
Sterling exchange easier, with actual
business in bankers bills at 4.S704. S7A {
or demand and 4 8664 .S614 for go days ]
Posted rates, 4.S7@4.S71 and 1850
-SS1k Commercial bills, 4.S515 :
Silver certificates, 5Slz 65S34. Bar sill
rer, SIS. Mexican dollars, 45H. {
Government bonds firm, state bonds {
lull, railroad bonds strong. {
DnN-n TTcT,