The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-02
Government Bonds Firm, State
Bonds Dull.
STOCKS WERE FIRMER
PRICES RALLIED SHARPLY ON
COVERING OF SHORTS.
Speculation Generally Left Off Firm
New York Wool, Fair Demand,
Unchanged-May Wheat IS Lower
May Oats Higher-Chicago Cat
tie Strong-0ther Quotations.

New York, April Money on call
easy at 11s@1& per cent, last loan at ~
and closing at IL per cent. Prime mer-
camille paper, 31s per cent. Mexican
dollars, 4SA@4ssl.
Sterling exchange dull, with actual
business in bankers bills at 4.S524 a
4.S6 for so days and 4.S7@4S7A for de-
mand. Posted rates, 4.S61R@4.SS.
Commercial bills. 4.S4s4 @4.S5A.
Bonds: Government firm state dull;
railroad dull
Stocks in the initial dealings were de-
cidedly firmer and prices rallied sharp
~ on covering of short contracts. The
activity was most pronounced in the
Anthracite coalers, the Vanderbilts and
the western roads. The earkv gain,
which was equal to about two points, in
the case of Jersey Central, was soon
lost, and before midday the market
gave way under a heavy bear pressure.
The Anthracite and the Gould stocks
were especially weak at this time. Del
aware & Hudson falling below par,
while Jersey Central and Lackawanna
lost point or two. Western Union
dropped per cent, to S01a. st. Louis
Southwestern common, 13s, to 1; the
PACA%AlOd rs " or III 81 pei SCiiN
! bonds, 3, to SO, and seconds, So, to Is.
The Anthracites were sold on rumors
of a probable reduction in the dividend
rate by the Jersey Central and the st.
Louis Southwesterns were heavy on re-
ports. subsequently denied by Vice
President Edwin Gould, of serious dam
age by floods. In the late trading there
was a decided change for the better.
The shorts showed some nervousness
on Of p6
for the use of Jersey Central and Del
aware & Hudson and began to cover.
Professional operators were quick to
perceive the change in sentiment and
after securing lines of AnthraciteS and
the Changers, bid prices UP on the
bears. a recovery of u to 31s per cent
followed. Delaware & Hudson rose S1s,
to 1.02% Jersey Central. 8. to S0%; St
Louis Southwestern preferred, 2, to 512,
and usually prominent issues Is to l
per cent. London was moderate buyer
at the decline on reports of an improve
ment in the situation in the Levant.
In the industrials, Sugar made a gain
of nearly l per cent on the further ad-
vance of IL in refined. Chicago Gas
broke to Tx and statements that the
chances for the passage of a consolida-
ton bill by the Illinois legislature was
SLIM Near the close the stock recov-
cred most of the decline in sympathy
with the general market. Speculation
left off firm Net changes show de-
clines of A@1B per cent. Jersey Central
leading Western Union and st. Louis
Southwestern common and preferred
lost IS to 1ss per cent. Total sales
were 212,379 shares. The bond market
was quiet and weak. The features of
the trading were the st. Louis South
western issues. The tours declined 3. to
80. but later jumped to 6215 063%. The
seconds dropped 31s. to .15@16. Chesa-
peake & Ohio general IS fell q; Chicago
& Eastern Illinois con. 5s, IA; Kansas
& Texas seconds. y; Lehigh & Wilkes
barre con. Is. l; and Oregon Navigation
con- As, y. The sales footed up $4,000
In government bonds $1,000 coupon As
of 1925 sold at 1.237s @124A.