The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-22
Union Pacific Was an Element of
Weakness,
DUE TO ADVERSE REPORTS
STOCK SELLING FOR LONDON
ANOTHER DRAG.
Belief That the Present High Earn
ings of Railroads Are Due to Alb
normal Movement of Special Com
modities-Bulk of Loans Made at
2 Per Cent-Western Markets.

New York, Oct. 21.-What looked one
time today like a resumption in force of
the upward movement of prices came TO
an untimeiU end in tine afternoon on the
Wall street Interpretation of SPANS tn
tehtion TO press for more stringent meas
ures against ftlibusterS by the United
States government and to call this govern
ment to account for the success of fflibus-
tering expeditions. Prices were carried
on materially above last nights level.
There was a great deal of commission
house buying during the morning but the
market continued for the most part
LARGELY PROFESSIONAL.
Union Pacific was an elememl of weak
ness. its heavinesS being caused by the
report in the street of a syndicate agree
merft being made contingent on some
further Developments in the case. Re
was being raised for this purpose IN Lon
don. Selling of stocks for London account
was more or less a. drag in this market
The early rise in the market was aided
by the continued favorable character of
statements of railroad earnings and rum
orS of statements yet to come But the
questions is arising in the minds of dealers
In stocks how far the present hign earn
ing5 arc due TO abnormal movement Of
special commodities. The president of one
of the great trunk lines points out that
the rise IN the price of wheat led TO Quick
and heavy unloading of western granai1es
and that the settlement of the coal strike
is bringing forward heavy additions to
traffic. He adds cautiously: 1t is i'm
possible to staua now whether this i'm
proVement is due to the prosperity of The
country. After the abnormal business is
over Will be better able to state whether
the Improvement will continue"
MONEY QUIET.
Money continues distinotively quiet in
this market, the bulk Of loans being made
at about per cent. No further imports
of gold are expected while European
money centers show the present relative
stiffness of rates the tendency being all
the time to increase the difference, as
Bank of England loans this week. Trans
actions today were on a smaM scale out
side of the industrial specialties. the
grangers and one or two other leading
Transactions in bonds were dull and
prices were firmly held. Union Pacific
collateral trust notes were a feature
Total sales, sl,90o,000.
United States old As were advanced Is
bid; the new Is a bid and the 5s registered
IS and the 5s coupon Il.
MONEY MARKET.
Money on call easy at 2a2h per cent. !;
camille paper 4G41a per cent. Exchange
ftrIn With actual business in bankers
bills at 4-S41A for demand and at 4.s2d4. S214
for 60 days. Posted rates 4.S21@6I4.S3l9 and
4.S519 Commercial bills, 4.S1.
Silver certificates, 5Sd5S1a. Bar silver,
5S5s; Mexican dollars, 1872.
government bonds strong; state bonds
dull railroad bonds firm.
SALE OF STOCKS.
Total sales of stocks today were 302. 500
shares, including: Atthison, 1900; Atehi-
son preferred, 1888; G. & o., 1,720; C. 3.
& G., 1890; c. c. C.& st. L., 1850; Man
haitian, 1882; Missouri Pacific, 1890; n.
Y. c., S,365; Northern Pacific ssh; Rock
Island, 1857; ST. Paul, 20,460; st. Paul &
Tobacco, S,467; Bay State Gas, IL 115; Gid
cago Gas, 81, $40; Sugar, 56,665; W. u, 3.z5s
Tenn. c. & l.. 1904; Chicago G. w, 1900
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