The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-05-13

New York. Nay 12.--Today's market
for stocks was almost repetition OF
Yesterdays. whatever strength there
was generally manifested not outlast-
ing long the close of the London ex-
change and the strength reflected from
there, which was, however, less marked
than yesterday. London also was
again a purchaser of securities in this
market, though not in so large vol
ume as yesterday. Some purchases
were also said to be for Holland ac-
count Some sales of foreign account
were also made. The dullness OF trad
ius- was in part due to the expected
an aouncement of a further gold snip
uent, but these were not forthcoming
beyond an increase of only $4,000 by q
house which had already announced
$500, 900 by tomOrroNS steamer. w nat
ever shipments may be made by sal
urday's steamer are now expected TO
be small. as was foreshadowed last
Hieht There is. in fact, very light
demand for exchange and no encour-
agenent to offer bills against gold
1t is evident that a very small guam
tity of these would break the exchange
market below the profitable point for
gold shipments
What shipments may be forthcoming
remain open to conjecture. The con-
siderable purchases of our securities by
London yesterday and today has
tendency 20 weaken exchange.
An increase in the exports from the
port of New York for the week OF 81
54o.266 somewhat offset the enormous
imports of last week and the govern
ment receipts from customs from day
to day show that this weeks imports
win hardly reach anything like last
weeks figures.
on the other hand, New York eX-
change on Paris shows a tendency to
harden and the Paris rate on London
declined slightly again today. AS
result of the upward movement OF
stocks today and the subsequent re-
action, net changes are for the most
part very narrow.
The restricted character of the mar
ket is shown by the fact that Sugar
and Chicago Gas absorbed over one
third of the total dealings, and as
these two stocks were notably de-
pressed, they constitute an effective
drag on the market. The foreign pur-
ch ases of stocks were estimated at
from u, 900 to $4,000 shares. The de-
cline in Sugar reached IA with rally
of Is. There was little of Importance
in the movement of railway shares,
but the reaction in the market carried
the list generally to a fraction below
last nights close Union Pacific was
All exception and advanced 1js to rs
On foreign buying. Oregon Navigation
preferred enjoyed a further rise Of two
points. Standard Oil liqUidated certif-
Gates sold today at 315. The bond mar
lIet maintained a firm tone generally,
with purchases for foreign account
{ gain noted.
Gains of slight fractions were only
made in the large issues with the spec
uIative liens absorbing the bulk of
the dealings. improvements of 1@2
per cent were scored in some of the
active middle grade stocks. The ag
gregate transactions were 81, 125, 600
Governments were dull. but a hard
ening tendency was apparent in the
new tours. The sales were s32. 900.
The total sales of stocks today were
125 $50 shares, including: American
Sugar, %. 800: Burlington, 1000; Chicago
Gas Trust Receipts, 29,200: Louisville
& Nashville, 1890; Manhattan Consoli-
dated, 4,3OO; Reading. 1,4O0; st. Paul,
10000; Union Pacific, LOO; Western
Union, 4,500; New Jersey Central, 5000.
Money on call easy at IA @11a per
cent: last loan. ~ per cent; closed
offered at 1z@115 per cent.
Prime mercantile paper, 315G4 per
cent.
Sterling exchange steady, with actual
business in bankers bills at 4.S7L a
4.S71a for demand and at 1864 @4.S615
for so days.
Posted rates. 4S7@4S71z and 1850
4S9
Commercial bills, 4.S51s.
Silver certificates, 6015@6f
ell