The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-11-24

new y Oik. NOV. Z0.--1OQdy market Tor
stocks was a reversal of yesterday and
presented nothing but the operations of
room traders. outside of a few stocks
The list generally shows some net gains
on the covering of short contracts made
yesterday.
There was a continuance of the
strength shown yesterday in the North
ern Pacific stocks, especially the pre-
1erred, which rose rs by the close OF the
day Metropolitan Street Railway ana the
Rubber stocks also displayed strength and
gained over u point. Ihe strength in the
Rubber stock WAS due TO the rnmors OF
the absorption of competing company
GAS STOCKS.
Consolidated Gas was notably weak all
day in the doubt which is perslstentIy
kept alive concerning the prospects of the
merging OF local gas companies. 1t suS-
tanned an extreme decline of 612 points,
but recovered part of this. Brooklyn
Union Gas lost a point in sympathy. The
stocks of the American Spirits company
showed extreme weakness on the reports
of the demoralized condition of the trade;
The common stock fell during the nnai
hour TO a point pa per cent below last
nights close, and the preferred 3B pei
cent. Both stocks rallied, but very
feebly.
The coalers also inclined to weakness,
though they showed some recovery from
the lowest.
u. p. PICKING UP.
There was some selling of Union Pa
cite, probably induced by the call for the
payment OF the third . per cent assess
ment tomorrow, but the decline did not
exceed half and was recovered before the
close. Leather preferred was weak and
lost over Il point on disappointment that
the dividend as declared was limited to
! per cent. Some little selling OF St.
Pau and Northern Pacific preferred fol
London account, but without percepIble
effect on the market.
A TRaIllrp of the QdX WAS a lOrIner IlSG
of Is in the actual rates for steriin- eH-
change. This is in face of continued
very heavy outward movement OF mer-
chandise and Of selling of securities here
for London account OF insignificant pro-
portions
The weeks exports of merchandise
from New York exceeded those of last
week by $2.564. 400 in value and are almost
as much in excess of those for the cor
responding period for last year.
OUR MONEY GOES ABROAD.
The dullness and hrmness of the ex-
change market are undoubtedly due to
the sending of money abroad IN prefer
ence to drawing out by exchange bills 4
Chica-o bank IS authority for the state
menr that several million dollars of Chi
cagO money are now loaned IN lnglanC
and the continent, and the total OF money
owing TO persons in the United States
bur left 10 draw their rate OF interest II
England and the continent, undoubtedly
amounts I'D TO many millions, although
no accurate estimate can be made OF IT,
Trading In bonds was active and prices
We're for the most part firm. Total sales
Sl,52 GO. L. 5. new IS rose Is bid and The
old Is coupon and the 5S registered de-
clined Is bid.
MONEY MARKET.
Money on call. easy at 1lza2. per cent,
last loan. 1$4 closed, 1124l2 per cent. Prime
mercantile paper, 334et412 per cent Ster-
ling exchange. firm. with actual business
in bankers bills at 4.S5Ia614. S53s for de-
mand and at /. S27s6f4. S3 for 60 days. Post
ed rates, 4.S31264. S6l2. Commercial bills
4-S2 ~--
Silver certificates, 5SG59. Bar silver
5Ss4 Mexican dollars ass.
Government bonds irregular, state bond.
dull, railroad bonds firm.
SALES OF STOCKS.
Total sales of stocks today, 1596oi
shares, including c. 3, s. O., 1850; Man