The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-22
State Bonds Dull and Railroads
Lower.
STOCKS TEND DOWNWARD
CHICAGO MAY WHEAT CLOSES
SLIGHTLY LOWER.
May Pork 5 Lower-Money on Call
Easy-Streling Exchange Dull
Chicago Hogs SC Higher-Liver-
pool Wheat Poor Demand.

New York. Jan. 21.-Money on call,
easy at 1902 per cent, last loan at
IL and closing offered at IL.
Prime mercantile paper $685. per
cent.
Mexican dollars. 5OA@511s.
Sterling exchange, dull, with actual
business in bankers bills at 4S4%@
4.S5 for 60 days, and 4.S7A@4S71s for
demand: posted rates, 4.S51a@4SS; COM
mercial bills. 4.SSA @4S414.
Bonds: Government, firm; state, dull;
railroad, lower.
The tendency of the stock market
was toward a lower range of prices
again today. Considering the sharp
break in some of the specialties and
other developments, however, the lead
ing shares held comparatively steady,
the net losses for the day in such
stocks as the Changers, Chicago Gas,
Sugar and Louisville & Nashville show
ing losses of only H07s per cent. The
fact that quotations from London came
lower at the opening, showing that the
reduction in the Bank of England rate
had been discounted, was a disappoint-
ment to the bulls, while it encouraged
the bears TO renew their efforts at
hammering the market. The dullneSS
and absence of outside orders were also
against an improvement in prices.
Sugar figured for 81, 500, in a total for
the whole list of 1929 shares, but in a
majority of instances, the dealings
were unusually light. The sensational
incident of the day was a break of
12A in Hooking Valley preferred, to
20, and of SIS in the common to 81.
The decline was started by an effort
to margin a small amount of stock.
In the absence of supporting orders,
the bears found it an easy matter to
bring about the subsequent sharp fall,
especially as rumOr was circulated
that a receivership for the property
was imminent. Vice-President Samuel
L. Davis subsequently denied the ru-
NOR, and the common rallied TO IFS.
The company, in common with the
other bituminOuS coal carriers, has suf-
fered from the fierce war that has been
waged between them for a long time
past. Profits have been so reduced that
the very necessities of the situation
may bring about a speedy settlement,
which up to the present time the man
ayers have been unable to accomplish,
although they claim to have made i'm
pCrtant concessions. Long Island was
another noticeably weak feature. 1t
broke four points to As regular but
The selling is in anticipation of an I'M
official report by Expert Accountant
Little, who is now examining the books
of the company. Chesapeake & Ohio
and Baltimore & Ohio were both weak
at a decline of l per cent in sympathy
with the heaviness of the bituminous
cOalerS already named.
The bond market was lower today.
The sales footed up $1,173,000; the fea-
ture of the trading was a drop of
points in Columbus & Hooking Valley
con. 5s to SO. and 2$z in Columbus &
Hooking Valley general '6s TO 500; Du-
luth & Iron Range first 5s fell l to 100:
Equitable Gas & Fuel of Chicago IS IL
to 971a; Long Island IS e to 1101s and
Toledo & Ohio Central Western 5s l to
10412; st. Paul, Minnesota & Manitoba,
Montana ext. As rose "a to 80; Missouri
Pacific con. 6s 4 to 1884; Minnesota
& ST. Louis first rs 215 to 40, and
Beech Creek first As rs 10 1O6.
In government bonds $40, coo coup. As
of 1925 sold at 1925 @1221a; $4,000 coup
As of 1907 at 112 and $4,000 coup. reg.
at 111h@1115s.
BOND QUOTATIONS.