The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-09
Frequent Rallies and Recessions In
the Stocks.
FRACTIONAL GAINS ONLY
WITH A FAIR sPRINKLING OF
LOSSES.
Sugar Lost Heavy By Reason of
Steps Taken By the Government
to Qualify as a Bidder In K. P
The Bond Market Made a
Record.

New York, Dec. S.-The stock market
opened this morning with a tremendous
show of animation and vigorous upward
tendency, gains being uniform pretty
much through the list. 1t was evident
that the strength displayed by the mar
ket yesterday had brought orders to the
commission houses to buy stocks. There
was also buying for London account for
the first time in several days, the advance
IN prices here apparently failing to tempt
arbltrage brokers to sell. Their purchases
CT st. Paul were on quite large scale
and they also bought Union Pacific, but
there were sales OF Louisville and Atchi-
son for London account
SUGAR LOST.
Sugar was the one exception in the
strength OF the market at the opening
but its loss soon widened and heavy
liquidation in the stock set in, offerings
being very heavy and active support be-
ing of no avail to recover its losses Yes
terday's rumor of an extra dividend was
thoroughly discredlted this morning and
yesterdays gain was consequently com
pletelY wiped out before the announce
ment of the regular DIVIDEND The stock
was very feverish all day and fluctuated
widely and frequently but worked con-
stantl:, towards lower level and closed
near the lowest, at net loss of AS
Total sales were 100000 shares.
MARKET UNSETTLED.
Consolidated Gas was also mark for
the reactonists and dropped at one time
AZ points. The consequence was that
the market was kept unsettled all day.
When the general advance came to a
stop, dullness interviewed and there were
frequent rallies. Early in the final hour
prices of many stocks were at the best
hut the anal crop in Sugar again weak
ened prices all around and left gains con-
fined TO fractions in almost ali cases and
a fair sprini1ling of losses all through
the list. Union Pacific was heavy on ac-
count of the steps taken by the govern
ment 10 qualify as a bidder at the
Kansas Pacific sale.
BOND -4ARKET ACTIVE.
The activity displayed by the bond
market was quite remarkable for the
quarters million dollars in par value and,
1t is said, breaking the record for one
hours business. There was some de-
crease in activity later in the day, but
the prices of a number of bonds of the
middle grade moved up from one to
several points.
heavy gains. Total sales S4,250, 900.
Old As registered declined IS and old
coupon a bid, but the SIS rose Is bid !;
the new As coupon sold at 49, which is
higher than ever before.
MONEY MARKET.
Money on call easy at 11aG2 per cent:
last loan ,, closed 112d2 per cent Prime
mercantile paper 3Q4 per cent. Sterling
exchange weak with actual business in
bankers bills at 4S51zd4.S5Ss for demand
and at 4.S21a94.S2$4 for sixty days. Posted
rates 4.S315Q4.S4 and 4.S612Q4S7. CONNER
cial bills 1924.
Silver certificates 5s1HG6O1A Bar silver
5914. Mexican dollars 1914.
Government bonds firm. State bonds
dull. Railroad bonds strong.
SALES OF STOCKS.
Total sales of stocks today 435, 900: in
Guiding: Atchison preferred. 112S0; c. B.
& c., $50; L. & N, 1920; Manhattan,
7,435: Missouri Pacific, 1876; NJ X. & T.
preferred 4,25O; n. J. Central 5,255;
Northern Pacific, 1852: Northern Pacific
preferred, Is, 066; Northwest Terminal,
5000: Rock Island. 17O15 st. Louis & S
+. second preferred, 3,220; st. Paul, "a, $50;
Southern Railway preferred, 10,250; Union
Pacific, $50; Wabash preferred, 1876;
American Tobacco, 1920; Bay State
Gas, S,l9S; Peoples Gas, 1920; Laclede
Gas, $780, Sugar, 1890.
BOND QUOTATIONS.