The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-23
Losses Sustained Yesterday
Recovered Today.
CALL MONEY RAN HIGH
BUT PLENTY WAS OFFERED
LATER AT TWO PER CENT.
Bond Market Inactive But Strong
Bradstreet's Report of Available
Grain Supply = Chicago Market
Takes a Flip Flap-Western Cattle
Market-Spanish Bonds Lower.

New York. Sept. 22.-Tcday's trans
actions en- tine sTov-; exchange resuh-e1
in the recovery of S!1,e greater part CT
t7la losses sustained in yesterdays
sharp reaction, many stocks closing to-
rfisf.s h.sk-r than Monday right Dur-
ing the early part OF De day the mar
lelt was extremely Irregular and IN
certain in tone, a number of special
tiss continuing to show markell weak
ness even after the rallroad list had
recovered from its reac;l5nagy tsn-
dancy. But by the second hour OF
trading TIE bears had practically
abandoned thair efforts to work re-
action and the whole market was tend
ing strongly upwards. Ina mah4lssG
disposition of London operators ana OF
commission house customers to buy
stocks at a, dsclill'e here afforded sup
port TO the market that d-seouraSsd
the hears. The nsrV0UE,ne5S oVet> ia'e
hnTdsr,1-ng rates for money also large
" subsidized as the shifting of loans de-
Vecoped more accurately the true level
of the money market. Inc rates IoT
call money continued to run as nigh
as per cent, but as fast as rates were
marked up to per cent, there was
abundant supply offered at as low as
Per cent. This was not regarded as IN
dicatiulg a stringent conj1fticn of the
market. The higher rate was not be-
Eeved to BIZ justified by the condition
of the market, and the failure of the
! exchange market to- respond With amy
marked weakness to the per cent rate
went to confirm this view.
! Tfisue was a marked reaction at one
} time dur,ng the day. due to tgae sharp
! proft-t talking in Rock Island on the
/ announcement Of The dealasett5n o. a
/ 1 per cent quarterly dividend.
I The reports OF an engagement Of gold
/ for import we're vague and not definite
! ly confirmed until the close of Che mar
| ket, but the runners current served 10
rally the whole market strongly and
! bring prices to the best of the day at
the close.
There were raids in all of the active
/ stocks ranging from l to 2 points.
! Bankers agreed there is no profit in
J the Importation of gold at the ruling
rates of exchange here and of gold
! abroad. and the banking house Which
J has engaged the gold for import init
mates trlat they have been anle 70 do
! so owing to some special advantage
/ secured. though it was affirmed that it
/ was made in the regular c0urSe OF eX-
! change bucdueES. The engagement is
not considered as indicating that a
/ further movement of sod viii imme-
diattty follow without a further de-
! cline in the exchange market. The
! most marked gains during the day
We're: Consolidated Gas, 114s; Union
Gas, 81; Sugar. A; Sugar preferred,
! PA; Brooklyn Transit, 23s; n. j. Ceut-
rad, S3s, and Northwest, Omaha and
7 Susquehanna & Western preferred, "a
each.
The bond market showed some fall
ing Oft in activity but prices we're
Suong except in the Standard Rope is
sues. OF thec'e the SIS lost s points and
the incomes rs. TCsal sales we're ST.
500, 900.