The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-06-10
Condition Plainly Shown on Wall
Street Yesterday
RESOURCES OF
BEARS EXHAUSTED
SUGAR TRANSACTIONS WERE
SOMEWHAT SMALLER.
Nine Stocks in Which the Dealings
Exceeded Ten Thousand Shares
Greatly Improved Distribution of
Dealings-The Stock Yard Law
Western Markets-General Notes.

New York, June 9.-The stock market
emphasis the stability and firmness Of
the Improvement in values which has
been achieved in the last two weeks.
The resources of the bears were ex-
haustd in partially effective efforts to
bring about a general reaction, put
they had to be abandoned in the face
of the strong rally of the last hour
which carried the whole market with
an all-embracing surge to a higher
plane, wiping out the losses which the
painstaking efforts of the bears had
accomplished earlier in the day, and
driving them to cover losses by heavy
purchases on the fast rising sale of
prices. The dealings in the last hour
were accompanied by great animation
and the volume of sales which had
been small for two hours previously
was brought up to a total considerably
in excess of that of yesterday, which
was the largest since the present period
of activity in stocks
Today's transactions in sugar were
only about half as large as yesterday
although the days sales still footed up
TO the enormous aggregate of $4,000
shares. There were nine stocks in
which the dealings exceeded 10000
shares. and 50 in which the sales eX-
ceeded 1000 shares. This indicates
greatly improved distribution of the
dealings The force of the rally is
probably best interpreted as the asser-
ton of the confidence in the general
outlook for business and the refutation
of the theory that marked reaction in
the market was imperative
The special strength shown by
number of the industrial stocks aided
the advance. The notable strength
shown by number of low-pNced
shares of reorganized companies is
probably attributable to the return
from Europe of a prominent financler
whose influence has been prominent in
these denominations and who has be-
fore this enlisted large foreign capital
in American properties. The strength
of sugar, the leader, was also a factor
in the improvement. The other declines
were for the most part fractional The
rally extended to over a point and left
a substantial net gain in many cases
The closing was strong and exceed
ingly animated and generally at tho
top level.
Money on call easy at 1@1A per cent;
last loan 1 per cent; close offered at 1
oer cent.
Prime mercantile paper. S1z@4 per
cent.
Sterling exchange easier, with actual
business in bankers bills at 4.S67s G4.S7
for demand and at 4.S524 G4.S6 for so
days.
Posted rates, 4.s6lkG4S7 and 4.SS.
Commercial bills, 1854.
Silver certificates, 6OQ6O2s-
Bar silver. CO.
Mexican dollars, Az.
Government bonds, firm; state bonds,
dull: railroad bends, firm.
The bond market was less animated,
but a good undertone continued appar-
ent with some of the reorganization is
sues improving materially. The de-
mand for foreign account was fairly
moderate and included speculative and
the investment purposes of the promi-
nent lines.
The sales were 81, 617. 900.
Governments ruled firm. with trans
actions light The sales were $4,000.