The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-01

H.
clined to be erratic in today's stock
market. opening with some improve
ments, low priced stocks being in spec
ial demand II became irregular anC
standard securities eased off some or
realizations, closing with irregular frac,
tional changes either way.
The London stock exchange being
closed today. as well as Monday, ar
bitrage brokers did nothing in this
market. Northern Pacific securities
continued IN heavy demand. with the
preferred rising rs, it being largely
bought by a house regarded as repre-
senting important speculative interests.
Sugar was quiet and the grangers and
southwesterns rather Jagged Some
room traders sold grangers because OF
the slaekened demand for those shares
or vague stories of crop damage. These
shares were purchased on a down scale
and closed about unchanged, as did
wheat after its early morning advance
The stock market had advanced SO
long, partly in anticipation of a settle
ment of the tariff, that the enactment
thereof had no appreciate effect at the
beginning of the week. Stocks were
irregular, but many advances were
made on a constant increase in public
interest, the rise Of 8 cents a bushel in
the price of wheat and the enormous
daily average, nearly a million bushels
of wheat engaged for export. A favor
able feature was the falling OF about a
quarter of a million in the imports and
commercial agency reviews, showing
increased business with western job
bers. compared with last year, and that
nearly every northern city reported i'm
provement in business. The total trans
actions for the week were, in bonds,
the largest in the last two years, at
advancing prices. Unfavorable features
were the tagging of the iron market
behind the Improvement noticed else
where and the closing of many cotton
mills, and especially the export of S4,-
000, 00e gold.
Government bonds reflected the con-
fidence in making top price records,
while stocks and bonds, long neglected,
were active at higher figures, notably
those Of south and southwestern rail-
ways, owing to present crop estimates
and already improving traffic. Alto
gether the market was broad ana many
top records were scored.
Reports of earnings. both weekly and
monthly. gross and net, were gener-
ally pleasing, regardless Of the exist
ence of the great bituminous coal
strike.
The early weeks markets were fairly
well supported by commission mouse
buying, but professional selling al the
ton brought quotations to lower
nlane. Sugar and Tobacco were ham
mered fiercely, the former ultimately
registering an extreme loss of 912 per
cent. of which- was recovered Der
cent in the subsequent dealings. To-
bacco gained IL after being alternately
advanced and depressed as suited the
whims of the manipulators OF this
speciality.
less prominent in the dealings. the ac-
tivity of the traders being mostly cen.
tered in the railways and usually dor
mant speciaities-
FALL IN SILVER
The feature of the silver market was
the fall in bars to 20 5-16d in London
ON Wednesday and a corresponding fall
10 57ss here. with Mexican dollars down
70 As. all Low priced records for the
white metal On covering Of shorts IN
London there was j partial recovery IN
the silver market, which subsequently
slumped. closing at 5Is for bars ana
451f for Mexican dollars
Money on call was loaned generally
at / per cent. with some few transac-
tions at IL and small amounts at
per cent.
The supply Of time money exceeded
the demand, but the few transactions
reported were at unchanged quotations.
The sterling exchange market was
strong and warranted the shipment OF
about "a. 900. GOO gold, portion OF Whlch
was covered by sales OF DIS IN the
open market. There was also an eA-
port of 100000 gold to Canada. me
continent continues disposed 10 I'M
ToTt cold which goes largely into the
BANK Of France. Actual business III
bankers bills closed at 4.SI9s Tor de-
mand and 1864 for 90 days me
changes of TWO points and over fol
the week show 20 advances. compared
with eight stocks showing losses.
The bond market during the week
was. characterized by wide expansion
in dealings. which included numerous
Of the usually dormant mortgages
which increased materially. The mar
let generally displayed aggressive
strength on the development OF d
nronounced inquiry for investment ana
snecultaiye account, which embraced
ail classes Of securities. Prices for con-
tinental account were in large scare;
E,,lt some of the active issues were SOLO
for foreign account. The aggregate
transactions were $lS,0OO,OO0.
The total sales of stocks today were
162. $50 shares, including the foiloNlhs'
Atchison preferred, $500; Chesapeake
& ohio. 1926; Chicago, Burlington q
Quincy. -: Chicago & Eastern lii
nois, 4,24O; Northern American com
Danv. 3.770: Missouri Pacific, $500; DO
preferred. 1850; Reading, 1888; 81
Paul 400; Chicago Gas, 300; Colo
ado Fuel and Iron preferred, lilo
standard Rope and Irvine, 1851; chi
cago Great Western, 6,0S6.