The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-27
Union Pacific Absorbed Most At
tenti0n in Wall Street.
NEWS FROM WASHINGTON
HAD GOOD EFFECT IN BRACING
TIE STOCK.
Outside of the Changers, Sugar,
Chicago, Gas and Bay State Gas,
Business Was Of Very Small Pro-
poHtion-Americans in London
Wheat Stronger in Chicago.

New York, Oct. 26-Trading in stocks
during the early part OF the day was re-
strieted in volume and the fluctuations
in prices were narrow and irregular. The
latter part OF the day saw quite an In
crease in activity and a rise Of prices 70
the highest of the day. the declines be-
fore the close being small. Union Pacific
continued to be the center of interest in
the market and ruled above yesterdays
close. and closed this afternoon IA cents
above last NIGHTS close. The opening
gain was due largely 10 sympathy with
London, which sent 4 higher quotation for
the stock. The belief gained ground as the
day advanced that the government and
the reorganization committee would come
To an agreement on the basis of the COM
mittee'S expressed intention to bid the
full amount of the government claim. The
fact that this claim leaves the govern
ment's claim of over $4,000 600 on the
Kansas Pacific unproyided for and the
rumorS that
INCREASED BIDS
might be made by other interests which
provide for this indebtedness. caused some
as the acceptance of such a bid by the
government would endanger the whole
plan of the reorganization in spite of the
assertion of the committee that They we're
prepared to carry il out even if the gov
eminent should bid in the Union Pacific.
But late in the day reports from Wash
lnBlOn assumed quite OeIlnlJt form lnS1C
t,ne cabinet had resolved to accept the
committees intended bid as q minimum
guarantee and Withdraw their request for
a postponement of foreclosure sale of the
main line.
A fall of S1s points in the price of Kan
sas Pacific c0nsols' trust receipts was the
forecast of the news received later from
Washington that the committees agree-
ment with the government included an
assent to a poStDonement of the Kansas
Pacific sale, presumably with view to
giving the government an opportunity .l,t,t 70
provide for a part or the whole of its
claim. As the chances of se9arate bid
on the Kansas Pacific are considered re-
mote, the prices of the cOnSOlS and SKIES
rallied 4 per cent and closed at 81.
Trading in Union Pacific absorbed over
quarter of the total sales.
MARKET STRONG.
Outside of the grangers, sugar, Chicago
Gas and Bay State Gas, business was of
very small proportion. The tone of the
market was strong. however, and material
recoveries from yesterdays decline were
made, averaging about d point in the
grangers and other leading stocks. Bay
for call money and some very favorable
Statements of railroad earnings for the
third week in October assisted the re-
coYery.
BOND DEALINGS.
Dealings in railroad bonds We're not
large DuL Inc lOllt was lil1it VAIN lilS
ception of the Kansas Pacific bonds
above noted. Total sales, 81, 600.
U. 8. new IS were advanced IS bid
MONEY MARKET.
Money on call easier at 111z@2 per cent;
last loan, per cent; closed 11Am2
Prime mercantile paper, 4G41h: sterling
exchange steady W55h 3, a &C hus sa , in
at 4.S2a4G4SS for 60 days. Posted rates,
4.S3lh04 S6ia. Commercial bills, 4.S2.
Silver certificates. 5tq5S, Bar silver, o.
Mexican dollars, Az.
Government bonds frmer; state bonds
dull; railroad bonds strong
SALES OF STOCKS.
New York, Oct 26-Total sales of stocks
today were 246.700 shares, including: Atchi-
son preferred, $3.50; c. & O.. AIS; G. B. &
O.. I2.9S9: L. & N. 5.s99; Missouri Pacific
4.540: NJ. X. & r. preferred. Sis; ~ Y. G.,
61ii: Northern Pacific preferred 9,235;
Rock Island. 1895; st, Paul, IS 499; Union
Pacific. $3.50; Bay State Gas, 100; Chi
cago Gas, l6,0l5; Sugar, 10, FOL; Chicago.
Great Western, 3, 500