The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-01
State Bonds Dull and Railroads
Easier.
CALL MONEY IS EASY
NET CHANGES ON WALL STREET
SHOW DECLINES.
yohicage May Wheat Closes Higher,
Pork 215 Higher-South Omaha
Hogs 5 Higher-New York Wool
Fairly Active and Unchanged
Other Markets.

New York, March S1.-Money on cal
has been easy at 11k@1s4; last loan Al
IL and closing IL.
Prime mercantile paper. 313 per cent
Mexican dollars, 4S64915.
Sterling exchange active with actual
business in bankers bills at 4.S5A CASE
for 60 DAYS and 4S7Q4S7K for demand
Posted rates, 4.S61s@4.SS1a.
Commercial bills, 4.S419@4S9A-
s-Governments firm, state dull,
railroad easier.
The recovery in the stock market
which set in yesterday on the intro
duction of the railway pooling bill IN
the senate, made further progress with
early trading today. The general lst
improved 1kM5s per cent but shreWd
traders concluded that the rise was be-
ing taken advantage of TO market long
stocks and, accordingly, they soon
changed their tactics. American To-
bacco made an exceptional advance OF
pa per cent to 7414 on rumors that the
regular dividend would be declared
After the directors adjourned 1t was
announced that a dividend of only
per cent had been declared on the COM
mon, a reduction of l per cent on -Ene
quarterly payment on Feb. and the
stock reacted to ~. The pears IN me
meantime continued their attacks on
New Jersey Central and succeeded in
dislodging considerable long stock. In
addition to a revival of reports about a
probable reduction of the dividend, it
was stated that some of the mines IN
the Wyoming, Pa, district were flooded
and that some of the anthracite COM
panies would suffer material loss. Jer-
Sey Central broke points 10 a and
this led to a raid in Delaware 4 Hud-
L. s4Nra rtar
pressure, breaking from 1861 to 100k.
Lackawanna fell q to 1872 and Reading
q to 2O1s. The break on the CONNER
Gals was the signal for a general SELL
ing movement and the railway and in
dustrial shares not previously men
toned yielded anywhere from y to "a
per cent; Sugar, the Changers, Man
haitian and Western Union leading the
downward movement. Sugar was
weakened by the announcement from
Albany that the new DoScher refinery
had been incorporated under title Of
the New York Sugar Refining COM
pany. The Changers were unfavorably
Influenced by adViceS from Washing
ton qUoc-- certain senators as author
ity for the statement that no pooling
bill viii be passed at this session of
congress. Although prices advanced Is
to l per cent from the lowest in the
final sales, the tone of the market was
weak. American spirits was noticea bly,
firm throughout the day on the news
that the agreement between the Amer
lean Spirits Refining company and the
outside distillers, which had been I'M
der consideration for several months,
had been arranged. Net changes show
declines of = to per cent, Jersey
Central leading. Total sales were 1885,
1875 shares.
The bond market was weak at the
close, the sales footing up only $685.
600. Atchison fell 1: Northern Pacific
IA; Reading general As, IS; Oregon
Short Line inc. 6s. series A, 2ss; Wa
bash ends, y; St. Louis Southwestern
first As, after rising TO 81 declined to
g. The second As fell IL to 1872.
In government bonds S111, 05e coupon
of 1907 sold at 113sk.