The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-11-09
Prices of the Stocks See-Sawed
Many Times Yesterday.
THE MAXIMUM RATE CASE
RUMoR FORECAsTING DECISION
INDUCED SELLING.
Coalers Suffer by Reason of Over
Production, Cutting of Prices and
Persistent Mild Weather-Spanish
War Scare Did Duty-Western
Markets-Finance.

New York, Nov. S.-Prices of stocks
1uctuated very widely and very easily,
traversing range up and down many
times in the course of the day. This
indicated a feverish tone of the spec
ulative mind, a readiness to dispose of
holdings on a slight intimation of pos
sible unfavorable development and an
equally nervous anxiety on the part
of short sellers to cover their contracts
on any appearance of a hardening
tendency in the market.
The most formidable event in the
days happenings, so far as any effect
on values was concerned, was the fur
Their postponement of the announce
ment of the supreme courts decision
in the Nebraska maximum freight rate
case, which was confidently expected
today. There has been assurance felt
in Wall street that the verdict would
be favorable to the railroads, and if
a favorable verdict had been an
nounced today, profit-takings would
probably have led to declines in the
stocks affected. But the news of the
postponement followed the rumors that
the verdict would, in fact, affirm the
validity of the contested statutes. This
rumor induced much selling.
DEMoRALIzING REPORTS.
Special weakness was indicted also
into the coalers by the very discour-
aging reports of the conditions of that
industry, due to over-production, cut
ting of prices and the persistent mild
weather. There was no lacking to the
Spanish war scare, which was made to
do duty today These demorahzing
factors did not begin to be felt until
some slight Improvement over Satur-
days close had been effected in prices,
Sugar leading the way. There was a
notable Improvement also from the
low point before the close of the day,
due to covering of shorts and on SUI
prerne court decision against the inter-
state commerce commission as to the
regulation of rates in the short and
long haul where water rates are in
competition. In consequence of this
rise ait the opening, and the improve
ment at the close, net declines are
much diminished.
Bonds were weak in sympathy, but
steadied in the day. Total sales, ST.
500, 000
United States new As declined y bid,
and 5s registered "a and 5s coupon u.
MONEY MARKET.
Money on call, easy at 1902 per
cent; last loan, per cent; closed, TX
az. Prime mercantile paper, 3A @412
per cent. Sterling, 4.S5as for demand
and 4.S21a@4 S2A for 60 days. Posted
rates, 4.S31h@4 861a. Commercial bills,
4.S1A. Silver certificates, 5712@59. Bar
silver, 57B. Mexican dollars, 433z.
Government bonds, weak; state
bonds, dull; railroad bonds, weak.
SALES OF STOCKS.
Total sales of stocks today were 49,
300 shares, including: Atchison pre-
ferred, $50; c. & o., $3.50; c., B. &
O., 44,430; Delaware & Hudson, 1862;
L. & N, 1886; Missouri Pacific, 1880
NJ, K. & T. preferred, 1850; Northern
Pacific preferred, 14,505; Chicago &
Northwestern. 5,27O; Reading, $3.50;
ST. Paul, 43,145; st. Paul & Omaha,
3,195; Southern Railway preferred,
3,4S3; Union Pacific, second assessment
paid, 11,155; Wabash preferred, 4,41O;
American Spirits, 1926; Chicago Gas,
1858; Sugar, S6,95S; Tennessee Coal &
Iron, 4,736; United States Leather pre-
ferred, 3,219; Western Union, $3.50;
Chicago Great Western, 1850.