The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-06-26
ON WALL STREET.
Prices Materially Above the Closing
Figures.

Figures.
New York, June 25.-Many thousands
of shares of stock were bought on the
stock exchange today at prices ma
terially above last nights closing fig
ures, the advance extending to a point
or over in many prominent stocks. But
the market scid off later in the day on
account of apprehension caused by the
large volume of the gold shipments by
tomorrow's steamer. S. 100000 in all
being engaged for export. Additional
uneaSiness was caused by the fact that
the whole amount was taken from the
United States sGb-treasury, or from
the assay Office in bars, and were no
part of the banks, or private sources,
as has been the case with most of
the recent shipments. The decline in
the prices of stocks which resulted was
very marked. offerings to realize be-
ing freely made for a time, and the
heaviness extended all through the list.
The decline. however, brought dull
ness and diminution of offerings, in
dicating the undertOne of strength in
the market. The weeks gold ship
ments now amount TO $4,S00,0 600, which
is larger amount than has gone out
in any one week since the first week
of the present movement, that ending
May s, when the exports We're $4,000, 900.
The subsistence of apprehension on ac-
count of gold exports in the stock mar
ket has been mostly due to the stabil-
ity shown by the gold reserve in the
United States treasury for several
weeks past, about $144 000, 900 in face
of continued exports of gold by ex-
change houses. The amount of gold in
the treasury at the close of business
yesterday was S142 7S3, 4S6. which is
the present gold movement began. OF
course. today's additional Withdrawals
Of 50, 800. 900 do not appear on the state
ment of gold in the treasury. The
sterling exchange market was easier
under offerings of bills against the gold
shipments. e0-day bills receding Il to
4.S6. But il is expected there Will be
sufficient demand to stifren exchange
rates next week, with further gold
shipments as a consequence. The sup
ply of exchange in the market is, in
fact, very meagre, and any extra de-
mand has to be met by gold ship
ments. The volume of dealings today
was larger than on any previous day
of the year. the total sales of all stocks
reaching 325. 900 shares, but nearly two
thirds of that amount was absorbed by
Sugar. the Changers, Chicago Gas and
Bay State Gas. There were 80, 600
y.
Sugar and. the Changers led the adj
vance but the list generally reacted to
below last nights close, showing net
losses on the day. Sugar, however.
rallied partially and closed with net
gain of IL.
The bond market displayed consider
able animation today, the transactions
exceeding s., 600, 600. The buoyancy was
apparent in a variety of issues with
some sensational advances noted in
the usually inactive mortgages. The
lower priced bonds displayed aggres-
sive strength with purchases of the
gilt-edged liens by investment inter-
ests tending to accentuate the upward
which has been in evidence
for a long time. Governments were
slightly higher on transactions. block
of $1,000 of the five coupon changing
hands at 11415.
Money on call easy at 1G1H per
cent: last loan, 1 per cent, closed 1@1A
per cent.
Prime mercantile paper S@4 per
cent.
Sterling exchange steady with actual
business in bankers bills at 4.S71z q
4S71a for demand. and 4.S6G4.S6A for
60 days.
Posted rates, 4s7@4S71s and 1850
4.SS1a.
Commercial bills, ASH.
Mexican dollars, 473s