The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-05
These Were Conspicuous on Wall
Street Yesterday.
SUGAR UP A FRACTION.
VIOLENT FLUCTUATIONS IN
RAILWAY BONDS.
Money on Call Firmer-Sterling Ex-
change Weak-State Bonds Dull
Heavy Selling For Foreign Ac-
count-Market Generally Exhibit
ed Very Strong Tone Through
out-Wheat Higher.

| New York, Aug. 4.-The great ma
jority of the sales of stocks on the ex-
change was made at prices very sub
but the market succumbed in the last
half hour to a sudden settling move
ment, induced by profit taking. The
effect was to wipe out nearly all the
earlier gains in most stocks, and to
leave the average level of the market
but little changed from yesterday. The
sales of all stocks aggregated over $780,,
600 shares. The dealings in the last
half hour were all at lower prices and
the only stocks to escape the effect of
the fall were those not included in the
later dealings. Except for the final de-
cline, the market was almost a repeti-
ton of that of yesterday, copious pur-
chases being made Of pretty much ev-
cry stock in the list Many sales of
odd lots were recorded, rejecting the
ventures Of small individual .Durchas-
ers, through commission houses. There
was not much discrimination shown in
this class of buying, which embraced
some of the stocks which have long
since passed out of the hands of the
attention of the exchange. The not
able feature of trading was the heavy
selling for foreign account, and the
readiness with which these sales were
absorbed and their sentimental effect
disregarded.
Northern Pacific preferred was the
chief sufferer in this respect, but all of
the internationally listed stocks were
sold by London to some extent. 1t is
estimated that the total of London's
sales reached 81, 900 shares for the day.
This was almost without effect on
prices here, and failed to check the !
further fall in sterling exchange, which |
was affected by heavy offerings of
grain bills. London was apparently |
eager to realize on American securities, |
and steadfastly declined to enter the |
tempting field for speculation offered |
by the New York market. The indus
trial group and the gas stocks were
conspicuous again today for strength.
The grangers were heavily bought and
advanced at one time nearly a point.
The final decline left the net gains in
these and other active stocks only
fraction. Sugar rose at one time PA,
but closed at only fractional gain.
Operations in railway bonds were at
tended by violent fluctuations in some
cases. with Union Pacific AZ trust re-
ceipts conspicuous for advaEces of
per cent The market exhibited a very
strong tone throughout, with dealings
on a heavy scale. The aggregate sales
were S3.340,O 900.
Government bonds were heavy on
moderate sales
Money on call frmer at 1@2 per cent;
asst loan per cent; closed offered at 1
per cent.
Prime mercantile paper. 1904 per
cent.
Sterling exchange weak. with actual
business in bankers bills at 4.S65s@
S6s4 for demand and at 4.S55s "a. S5A
or 60 days. Posted rates. 4.Se19@4.S7
md 4 S715@4 SO. Commercial bills, ass.
Silver certificates, 57@57h. Bar silver,
Z. Mexican dollars, Az.
Government bonds weak. State bonds
lull. Railroad bonds strong.