The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-20
This Reflects Condition OF New
York Stock Market.
BREAK in PULLMAN
PRODUCED SOME FURRY FOR A
SHORT TIME.
Strong Support offered This Stock
overcame Opposition and the
Shorts Were Driven to Cover
Bull Clique Operate the Chicago
Wheat Market Financial News.

New York, Oct 19.-The undertone
of today's market was one Of strength
throughout. The volume Of transac-
tons was not large and there was pro-
longed periods of dullness when trade
was practically stasnant, but the op-
Grafton of important interests which
were prominent in the late bull market
was manifest The tone of yesterday I
market had apparently determined
large professional operate rs to under
take movement for a rise today. The
break in the price of Pullman, due to
the news of the death of the head of
the company, halted the operations Of
this element for a time. but the firm
ness of the general list in face of the
break in Pullman and of marked weak
ness in Chicago Gas and the strong
support which was offered the Pull
man stock, encouraged the bull oper-
atorS to renew their campaign in an
aggressive way later in the afternoon
The result was that the shorts were
driven to cover and prices throughout
the list mounted strongly upward to
point materially above last night S
close The bears had made the most
of the sympathetic effect produced by
the opening weakness in Pullman, but
the moderate decline effected in the
general list failed to bring any heavy
| liquidation or to dislodge any great
| amount of stop loss orders. The mani
! fest ftrnness of prices discouraged
! them and their rush to cover at the
| close was precipitate.
| Al the news of the day continued
! favorable, railroad earnings continu-
! ing to show Improvement The eN-
| change market showed a distinctively
frmer tendency though the only an
nouncement of gold from Europe was
! of the withdrawal for shipment to the
! United States of e350OO in gold from
| the Bank of England. Gold, however,
| is in transit from Australia to San
| Francisco. The local money market
! continued easy and outside hanks con-
| tinued to take larger amounts of COM
mercial paper in this market. fea-
| ture of the bond market was the sale
! of two blocks, 1880 and 100000, re-
| spectively, of Union Pacific collateral IS
| at coed prices. Dealings in bonds were
not on a large scale, but prices general
! ly showed Improvement. The total sales
were s1,650,OOO
| U. S. is registered advanced IL bid
| and the 5s declined a.
MONEY MARKET.
Money on call. easy at 1921; last
! loan, 21a; closed. "a per cent. Prime
! mercantile paper, 4041h per cent Ster-
| ling exchange, firm, with actual bust
ness in bankers bills at 4.S41z for de-
| mand and at 4S2@4S2H for so days
Posted rates, 4S21A@4.SS4A and ASS
| Commercial bills, d.S1. Silver certif-
Gates, $50. Mexican dollars, 44M.
/ Government bonds, irregular: state
! bonds, dull. railroad bonds. strong.
SALES OF STOCKS.
Total sales of stocks today were 2S1,
ferred, 4,676; c. b. & O.. Is, 620: L. & N,
! II ,035; Missouri Pacific, 10,715: New
York Central, 10,475; Northern Pacific
preferred. 7,112; Reading, $3.50; st.
Paul 29,910; Southern Railroad pre-
fered, 1850; Union Pacific, 1855; Amer
lean Tobacco, Ass; Bay State Gas
| 1850; Pullman, 1899; Sugar, 36,125;
| Western Union, 1905; Chicago Gas, so,
!