The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-03-04

New York. March S.-Money on call
easy at 115@1A per cent; last loan. III.
and closing. IL per cent. Prime mer-
camille paper. per cent. Mexican
dollars. sou. Sterling exchange firm,
with actual business in bankers bills
at 4.s5H G4S5h for 80 days and .4.s7H
for demand Posted rates. 4.S6@4.Ss.
Commercial bills. 4.S464S5.
Government bonds, firm; state bonds,
quiet; railroad bonds. active and
strong.
The placing of s5OOOO,OOO S1s per cent
guaranteed bonds by the Lake Shore
& Michigan Southern railway with
the Speyer syndicate for the purpose
of refunding its outstanding per cent
issues had a most favOra BILE influence
on the markets for securities today
The significance of this important ne
gotiation was hardly appreciated yes
terday. but upon reflection operators
took a more Sanguine view of the sit
uation SO far as investmnets are con-
cerned than for some time past. Nat
uraHy enough Vanderbilt stocks were
the first to reflect the financing of the
Lake Shore bonded debt, and when
they were taken freely at steadily adj
vancing prices, the whole list sympa-
thized, with the result that during the
afternoon speculation developed an al
most buoyant tone. The demands for
the VanderbiltS and other leading is
sues were so urgent that the street en-
tirely ignored the cable advices from
London, to the effect that the foreign
markets were disturbed by the gravity
of the situation on the Levant. The
moderate sale by foreigners of st.
Paul, L. & n. and other international
stocks had no appreciate effect and
the same is also true of the heavy de-
creases in earnings reported by the St.
Paul company for the fourth week in
February. 1t should be added that
leading railroad officials predict an i'm
provement in railway traffic returns
from now on and that their statements
have a reaSsuring effect. The an
nouncement by President H. o. Have
meyer, of the American Sugar Refining
the common and preferred stocks will
be declared by the directors at their
next meeting, led to free purchases of
Sugar stock and started up a demand
from the shorts in other induStrialS.
The advances in prices were equal TO
13Q51a per cent, the latter in Pullman,
which rose to 1853. Omaha common ad
vainced AZ to 81; Consolidated Gas,
to 15415: Nickel Plate second preferred.
list anywhere from Il to 2 per cent.
Jersey Central and Manhattan were
exceptionally heavy in the early trad
ing. the former selling down to 93%
and the latter TO S5A. but they both
moved up a couple of points during
the afternoon in sympathy with the
other markets. Near the close there !
was a disposition to take profits, but
the market left off strong at a re-
action of Il to Y from the highest. Net
changes show advances of Il TO 413 |
per cent, Omaha leading In the spec
ialties Pullman gained 5i2; NNkel
Plate second preferred, 81, and Con- |
solidated Gas, 21s per cent Total sales
were 202.047 shares, including 22.300 |
Burlington, $4,000 Sugar, $4,000 st. Paul. ,
IA. 300 Omaha and 1890 Northwest.
Bonds were strong today. The sales /
footed up $2,0140O0. Chicago & Eastern /
Illinois con. fives rose IL; c. C. C. & |
st. L. col. trust tours, l: Duluth &
Iron Range first fives, l; Flint & Pere
Marquette fives, 2; Fulton Elevated |
first tours, 1; Fort Worth & Denver
City first SKIES. IL Lake Shore con.
first sevens, l; do. reg. seconds sevens,
31a; Nashville, Chattanooga & St.
Louis first sevens, 49, Oregon I'M
provement con. fves. /: St. Paul sec
)nds sevens, 3; Standard Rope & Irvine
skies. IL.
In government bonds, $50, 900 coupon
tours of 1925 sold at 1239123H and
z, GOO reg. fives at 113SQ114.