The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-03
Advance In Stocks Comes to Sud-
den Close.
LIST SHOWS A DECLINE
FALL In PRICES FROM HIGH
PRICES MARKED.
Relief Felt Over the Prospects of
Restored Rates on Western Roads
Special Strength In q. Pond
Market Broad, Active and
Strong.


New York, Dec. 2.-The character OF
the buying of the last few days was
disclosed by today's result on the stock
exchange The day opened with every
appearance of yesterdays sharp de-
mand for stock being in force The
lower prices from London were ignored
and large orders placed on special
stocks caused sharp advances IN the
whole market The amount Of commits
sion house buying Indicated CONSIDER
able awakening of outside interest.
The buying of the Changers, Sugar ana
Union Pacific was especially bold ana
confident. and by the close of the first
hour the market had become very
buoyant and some sharp advances IN
prices had been obtained.
GAINS WIPED OUT.
Then, without any diminution of ac-
tivity, it became evident that the adj
vance in prices had come to stop and
that a heavy realizing movement was
in progress.
When Sugar fell point and the gen
eral list showed an actual decline. the
market became dull and efforts We're
made to rally it by pushing up the
prices of special stocks. The bears
added the pressure Of short sales and
before long had succeeded in wiping
out almost every gain on the list. Net
losses were not large in any important
case, but the fall in prices from the
high point was marked.
EFFECT OF GOOD NEWS.
The news of the day was not i'm
portant in its relation to the stock
market and such as it was, it was IA
vorable The forecast of the presi-
dents message sent out by the Asso-
ciated Press had a reaSsuTing effect.
Relief was felt over the prospects that
western railroad rates would be short
ly restored. Reports that an adjust
ment was probable between the gov
eminent and the Union Pacific reorgan-
izatioh committee over the Kansas di
vision of the road gave special strength
to Union Pacific and was d sustaining
factor ir the general market There
was some selling Of stocks for London
account, but it was without much eff
feet and was about concluded by the
time the reaction set in in this mar
ket.
The market for bonds was broad, act
i've and strong. Sales for the first hour
footed up to value of over $1,50O,OG0.
Total sales for the day were 81. 100000.
United States bonds were steady and
unchanged.
MONEY MARKET.
Money on call, easy at 1902 per
cent; last loan, IL; closed, 119@2 per
cent.
Prime mercantile paper. $685. per
cent.
Sterling exchange, steady. at 1864 a
1855 for demand and 4.83Q4.S31s for
go days; posted rates, 4.S4 and 4.S7;
commercial bills, 4.S2A.
Silver certificates, 5915 @60; bar sill
yer. 591a; Mexican dollars, 4615.
Government bonds firm, state bonds
dull, railroad bonds strong.
SALES OF STOCKS.
Total sales of stocks today were 443,-
900 shares, including: Atchison prefer
red, $40; Chesapeake & Ohio, 1900;
Burlington, IL Ices; Louisville & Nash
vile, 500; Manhattan, S,1S5; Missouri
Pacific, 25,325; Missouri, Kansas & Tex
as preferred, 3,105; New Jersey Central,
1885, Northern Pacific, 4,S10; Northern
Pacific preferred, 1895; Rock Island,
1888; st. Paul, 1885; st. Paul & Oma-
Ia, 500; Southern Railway preferred,
5,925; Union Pacific, 1864; American
Tobacco, 1850; Bay State Gas, $500;
Chicago Great Western, 1880; Chicago
Gas, 1920; Sugar, 75,432; Western
Union, AL
BONDS.
U. S. n. As, reg. 12S1s,N. Y. Cent. 1sts.11s
Do. coup.......12SSs n. j. c. IS lib
Z S, As. ........112l4 No. Pac. lists .--119
Do. DDS, 49,. 9S12 Do IS $50. -. $50
q. S. IS reg. .114l4 Nor. & w. IS ..12115
Do. 5s coup. -114!4 invest. consols.1 45
San 30 Gas lists i SS % Do &a geO
D. & r G. As $50 Nav As ..... 9255s
Con; Elec. 5s..lO0 .. s. L. 6s. I. r.124
H & T c 5s--1 liz g s; l. s. t r sSH
K. P. Con. I. r S9Sl DO. 5s. t. r.. 42A
Div) t, -. ,. 3. e. v. lists. 81
Ma' \ cons 2d as es51 Hni9 p Pac- 1o2aA
Do. Is ......... 81 lists ......... 1875
NEW YORK CLOSING STOCKS.
Atchison .... 127k Rock Island 49,. SsA
Can. Pac. $50. SOl5 Preferred ...14i1S
Ches. & Ohio :. 2124 Tex. & Pac. -. 1lN
Chi. & Alton. Isl Union Pac. -. 2512
Del. & Hudson 10S5s Wabash ......... IL
Del L. & w...l5Sl2 Preferred 80. 1873
D & r: G. 49, IA n adams Elk ..I56
CT. Nor. pref d. .190 Wells Fargo ...1l9
Illinois Cent -102l4 Col. f & Iron. 2l54
Lake Shore ...lo212 Preferred 80. 50
MICH. GcUL. ....Iuo .lrSI. EleCIGlc IS
MoK & T. -. Is Lead ... S3Ik
Preferred 49,. S45s' Preferred ...104
N. J. Central. S6A Ore. Imp. Co... l61L
N Y. Central. .107ss Pullman Pal. .172
Nor. West. 49,. 49, Silver cert. 49,. 1917
No. Pacific $50. 1875 Standard Rope
Preferred 49,. 56A & Irvine 49,. AZ
o. r. < NJ. 96 Sugar ............ 13SSg
Q. S; L. .......,. lS24 Preferred lib
Pittsburg ...... 1874 R. G. w. $500. %
Reading ......... 217s Preferred 80. So
NEW YORK MINING STOCKS.
Chollar .......... 40 Ophir .... G.
Grown Point -. 10Plymouth $500. 0S
Con. Cal & Va. ! G9,QuicksilYer $50. OF
Gould & Currie. 10 Preferred - 0C
Hale & Norcross 1 80 Sierra Nevada SC
Homestake 30 GO Standard ........ ] AZ
Iron Silver $3.50. z0Union Con. - %
Mexican .......-. 27Yellow Jacket. g
Ontario ---,..-.-. So
Silver in London.
London, Dec. 2-Silver, per ounce,
2755d.; cOnsols, 1875.
GRAIN AND PROVISIONS.
Market Closed Weak-December
Wheat, 95-Decline In Corn.
Chicago, Dec. 2.-Wheat had a weak
opening, principally because Liverpool
fully reflected the decline of the day
before at Chicago. 1t opened at from
q to cd decline. Paris at the same
I'll.