The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-26
Combination Of Circumstances At
fected the Market.
THE U. P. PROPOSITION
FEARS THAT REORGANIZATION
PLAN WILL BE UPSET.
The Cuban Situation and Apprehen-
sion of a Rupture With Spain;
and the Accident on the Central
Also Contributed Baneful Results
on Stocks.

NEW YORK, oct. Z5.-I1a cOnVIOUJ9n L1l4L
ruyture IN our relations with SrMn
VIA Ultimately result from tle Cuban sit
uA!.on; the danger that the Union Paci-
tic reorganization plan Wild be upset by
the governments desire 10 postpone thu
sale, and the weakness of New YORK
Ceutrul, due to Yesterdays disaster on
its line, all combine 10 put back the mar
ket and den9rlliZed prices Throughout
tile list
The lower prices for American securities
in LcndCl and the decltne in the prlce
of United States is there of nc were ae-
cepted as means OF the aD.preheHS-sA
fet there as to Ms Lsarm thai would be
done Yadues by Abe threaGeaYed rupture
I'h5 opening stl0wed sharp deel!HeS IN
the international stocks and the special
des Gld by ncsol losses Of a point CT
over had spread 60 practically every ac-
In the activity of liquld2icl0u and at that
time a Stel3dy,Qy OIL prices, based ON a
nope thaf the supreme C-lFG would hand
down d favorable decision In the NebraS-
ha freight rate case and that prices Of
railway property woud tend to improve
as O. result, 4 sharp rally In ChlcaSo
Gas in announcement OF Egl,a declaration of
the regular dividend helped to steady the
list.
UNION PACIFIC STOCKS.
The au1qrocacts7msT3t of the government $ $
Decision 10 apply for a oos'tponeinsrN OF
The foreclosure sale of the GG!on Pacific
and Kansas Pacinc properties . 3uGGt
o'ct enormous liquidation OF JniOu Pacd-
tic stocks There was no check apparent
in the hqutda tton or fail in prices as a
result OF the anlt1Glglc eGnsglI of The reOr-
gatllZat-Ou committee tilalt ii INTENDED
bidding The MAIN line IN, If 1t paid the
fllN amount of the governments claims
1tl!s w0qIid involve an increase OF eight
millions Over the latest upset price which
the syndicate guarantee tc insure the
government and IS over twelve mill.ons
ntf4 4ftaaIA 49,
organization plan was agreed upon.
Inc purpose of the reorganization COM
rnt--ee 80 divide the reorganization of tina
UQtcn Pacific main line and the Kansas
Pacific into two operations failed to quiet
the doubts of chose who nave specialized
in Union Pacific ca the basis of the Hunt
reorganization plan. The apparent tTrten-
ton of tle government to relegate the
whole ndf1ter TO congress dTWaht1S fears
among The holders OF shares shat delay
WIN attend completion Of the Teorganiza-
ten.
The government second mortgage on
zoe Kansas Pacific for abor,: fourteen
millions Is unprovided for and the racr-
G9n1Zauon COMMITTEES takes the stand
that tina government would be allowed to
bid rfla property in II TT is not willing to
take the bid of the company. The fear
That this would endanger the plan of re-
prgdntzasSm evidently augmented th9
selling. The sales of the stock constituted
one-gfghtth of the tctal transactions of
the day.
STERLING EXCHANGE
a sharp advance of Is i'm the actual
rates for demand sterling exchange was
a feature of the day and WIS a reflection
of the rising rate of DISCOUNT in LoGlClun
and of the dtSCouTlting of accommodating
steering bills mere.
Railroad bonds were In sympathy with
stocks Total sales were s1,6l0.000.
limited States new As and the IS regular
were advanced Is.
SALES OF STOCKS.
The total sales OF stocks today were
$50, 206 shares, including: Atchison pre-
feTwed, 6,69S; c. & O., 5,s25: c. c. S. e st.
fic, 10, 100; New York Central, u,473;
Northern Pacific 5,695: do. preferred H.
49,: Northwestern, 1926; Reading. $50;
Rock Island 9.975; ST. Paul 81. $50: Cd.
Paul 6z Omaha, 3505: Southern Railway
preferred, 4.60S; UGfion Pacific, second as
easement paid, 69, 409; American Tobacco,
1902; Bay State Gas. IS, $50; Chicago Gas,
&c, 1881; Sugar, a, 335; T. 9. s. l., 3,139; Chi
cage Great Western $40,
MONEY MARRIOTT
Money ON caM easy ait 2 per cent: last
loan, 2; closed offered at 2 per cent. Prime
mercantile paper 40l41h per cent. Sterling
exchange strong and active. with ac-
tual business in bankers bills ait 4657sI9
4S5&4 for demand and ait 4.S2fsGf.S2& for 50
days. Posted rates. 4.SaG4S312 and 1850
4.S614. Commercial bills. ASP. Silver
cerltGficates. 57iaG59 Bar silver. IS. Mex
lean dollars, IS.
Government bonds, frrner: state bonds,
dull raiIroad bonds weak,
Petroleum. sylvaglia, crude, no
market, IS.