The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-14
White Metal Advanced a Cent
and q Half.
QUOTATION WAS Sc ~
TEE DOWNWARD MOVEMENT OF
WHEAT CONTINUES.
Increase in the Visible Supply the
Principal Cause Of the Decline
London a Heavy Buyer of Amer
lean Securities-Some Enormous
Holdings Were Liquidated.

New York, Sept. 13.-The most in
teresting fact connected with today S
stock market was that the principal
support accorded the market was
through buying orders cabled from
London. The buying of commission
houses here was good, but aside from
tlat local operators held heavily. not
only here but in London. The check
in the decline here was credited to
London buying and the London favor
ties displayed the greatest steadinesS
unfll 100 late for London dealings. AL
together London bought $4,000 shares.
Il 1t had not pe6n for the upward ten
dency OF prices at the opening, in sym
pathy with the London quotations, it
is probable that declines would be
much greater than they are.
The good influence of the extra divi-
dend last Waek on St. Paul was the
cause of the London buying. The New
York selling was attributed to yellow
FEVER and TO an apprehension that the
Cuban question would again assume an
acute phase at the ca binet meeting to-
morrow. 1t was somewhat notable,
however, that Louisville, which has
shown most sensitiveness to yellow
fever reports, closed with a small gain
That some. enormous speculative hold
ings were in course of liquidation to-
ground for doubt that the owners are
impelled to take profits by a conviction
that prices have fully attained a level
commensurate with, developments af-
fecting the value and the earning
power of the properties The decline
was encouraged as much as possible
by the bears and the effect of fierce
raids was evident in a. number of prom
inent stocks.
Tho fu0yJcty-iaI CT
shared in the weakness of the mar
ket, lead leading the decline with a
loss of points. Features of the day
we're fail of a cent in the actual rate
of sterling exchange and a hardening
of the rate for call loans to per cent
With aeceptaneesa at 2 per cent.
Silver scored further recovery OF t1A
cents in New York and 5ad. in Lon
don.
Speculative mortgages scored sharp
declines but high priced bonds held
firm Total sales 100000
United States new As. declined Il
in the bid price
Money on call, hrner, at 1902 per
cent; last loan. 2 per cent; closed, ~
az per cent.
Prime mercantile paper, s%@41a per
cent.
Sterling exchange weak, With. actual
4.S5M for demand and at 1884 @4S97M
for so days; posted rates, 4.S4@4.S5 and
4.SsA@4,s7; commercial bills. 4.S2.
Silver certificates, 541a@5534; bar sill
YER, 561z; Mexican dollars, 4311a.
Government bonds, easier; state
bonds, dull; railroad bonds, weak.
The total sales of stocks today we're
6S7, 81 shares, including: Atchison,
3,400; Atchison preferred. 1853 Cana
dian Southern, 1885, burlington, $4,000;
Louisville. & Nashville. 1920; Manhat-
tan. 29.12S; Missouri, Kansas & Texas,
1900; Missouri, Kansas &, Texas pre-
ferred, 26.600; New Jersey Central,
5000; New York Central, S,175; North
ern Pacific, $40; Northern Pacific pre-
ferred, q, 900; Northwestern, 5,735; Rock
island. 1920; st. Paul, $500; st. Paul
& Omaha, 1920; Southern Railway,
5000; Southern Railway preferred,
14.70O; Texas & Pacific, 800; Union Pa
cific, p, ESQ; wabash preferred, $500;
W. L. & L. E., 5000; American Tobac-
co, 1900; Bay State Gas, IL, 300; Chi
cago Gas. 1926; Sugar, 1900; T. C. &
L, 27,400; Leather preferred, 3,125;
Western Union, 1890; Chicago Great
Western, 10, $50.