The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-04
Animated Trading In Stocks and
Bonds Yesterday.
HEAVY CROPS THE CAUSE
BRIGHT OUTLOOK FOR RAIL
ROAD EARNINGS.
Professional Made Intellectual Efforts
to Check the Advance-Further
Exports of Gold Ore Unlikely
September Wheat Reaches the
Top Neutrality-suspicious. and Live
Stock Markets.

New York, Aug. 3.-The market for
securities received a further powerful
I impetus toward q higher level of values
today Buying was animated and in
large volume in all departments, not
only of the stock market, but of the
bond market as well. The confidence
of the general public in the revival of
business and the Improvement of val
ues 10 result was plainly manifest in
the large commission house orders exc
cuted on the floor of the exchange,
these being IN such number and of
such Importance as to overwhelm all
attempts of the professional operators
TO check the advance and to manipu-
late the market for a reaction All the
news was such as to push on the en-
hancement of prices. Reports of crop
prospects continued most encouraging
from all quarters, and the continued
rise of prices in the grain markets re-
Elected the confidence of buyers that
good prices were to be realized for
crops. The reports of railroad traffic
from the west and southwest showed
the grain movement to be in such vol
ume as to leave the amount of business
to be done by the railroads only a ques-
ton as to the number of cars they can
secure to transport the grain offered.
The westward movement of merchan-
disc is also reported to be large for the
season, so that the trains carried west
ward as we'll as those coming eastward
are producing revenue for the railroads.
The buoyancy of the industrial stocks
was the result of the bright outlook of
the trade in the particular staples in
which these great operators deal. The
exchange market was so much cleared.
the quotations for actual business in
sterling exchange breaking to S4.S7 for
sight bills, and to 4S53z for go DAYS.
The declining tendency is due to the
free Offering of grain bills. which are
likely to increase from this time on In
view of this fact. further exports of
gold are exceedingly unlikely to occur,
and the annual refiux of the yellow
metal will probably begin at once.
The heavy adverse trade balance to
result from foreign purchases of grain
is considered TO be the motive of the
persistent Discrimination of foreign ex-
changes 20 invest in American securi-
ties, and of the disposition to take
their profits by selling these securities
in the New York market. The conserv-
alive habit of the British investor to
refrain from putting his money into
foreign enterprises when such action
is likely 10 deplete the supply of gold
in currency channels is we'll known.
London offerings of Northern Pacific
preferred We're we'll absorbed today. and
after the close in London. the stock
rallied to a point above last nights
close.
Trading in railroad mortgages was in
large volume with substantial varia-
tons in many issues. The low priced
securities were eagerly sought for by
domestic and foreign purchasers. The
general tone was strong, with specific
influences operating to enhance values
of sole liens, notably Oregon Improve
ment (consols $50 trust receipts were
for a rise of 5A per cent,
TO 80, with a later reaction 10 2S. The
aggregate sales were $3.990.0O0.
Total sales of stock today. 1904
shares, including Atchison, 6.0S5; do
preferred. $3.50; Chesapeake & Ohio.
10, 44O; Chicago, Burlington & Quincy,
q, $50; C. C. C. & St Louis, 6.220: Louis
vile & Nashville, 1855; Manhattan.
6 600: Missouri Pacific, 1885; New Al /
oauy & Chicago, 1876; do. preferred,
Il. $50: New York, Susquehannah &
Western, preferred. S105; New YORK
Central, 5000; Northern Pacific, S,Ilo; |
do. preferred, 26,310; Northwestern.
!. S55: Reading, TOO; Rock Island. 49, |
100: St. Paul. 1882; St. Paul & Omaha. |
!, S05; Southern Railway, preferred,9, lI5; /
[Jnion Pacific, $3.50; Union Pacific. Den !
yer &, Gulf. 4510; Wabash, preferred, |
.9S1: American Spirits. 1865; do. pre-
ferred. 3.OlS; American Tobacco. $3.50;
Chicago Gas, 2O.44O; Consolidated Gas,
.765; General Electric, 1S,O46; Lead,
!. $50; Sugar. 26,s12; Tennessee Coal &
ron. 7.105; United States Leather, pre-
ferred, $50; Western Union, 12'oSO;
Chicago Great Western, 1882.
Money on call easy at 1KQ1h; last
oan. ~: closed at IA Ola per cent
Prime mercantile paper, 3Q4.
Sterling exchange weak, with actual
business in bankers bills at 4.S7@4.87A
or demand, and 4.S5s4 @4.S6 for go days.
Posted rates. 4.S61z@4.S712, and 4.S712Q
1914.
Commercial bills, 4.S5@4S5h.
silver certificates, 5SA @5S&.
Bar silver. 57%.
Mexican dollars, 40.
Government bonds strong state
,onds dull: railroad bonds strong.