The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-02-05
WALL STREET QUIET
Net Changes Show Distinct
Declines.
MAY WHEAT IS HIGHER
MAY PORK rs ALSO ON THE
ASCENDANCY.
MAY WHEAT IS
Cattle and Hogs Take Turn For
the Better-Sterling Exchange
Steady-Governme Bonds Firm,
State Bonds Dull, Railroad Bonds
Steady.

New York, Feb. money has been
easy at 21A@2 per cent. Last loan,
IL and closed 11s per cent. Prime
mercantile paper, 3 per cent. Mex
lean dollars. 5O$4 @515s. Sterling ex-
change steady, with actual business
in bankers bills at 4.S41s@4 $40 for so
days. and 1864 @4s61a for demand.
Posted rates, 4.S5h@4S71k. Commercial
bills, 4.S31a@4.S4.
Bonds-Government firm; state,
steady; railroad, dull.
The reduction in the Bank of Eng
land discount rate from 315 to per
cent had comparatively little influence
on the markets for securities at the
opening today, partly because Lon
don failed to respond to the news. 1t
was quite evident that the action of
the directors of the bank had been dis
counted, a reduction in the bank rate
having been foreshadowed by the de-
Ginning quotations in the open market
at London for some days past. Stocks,
after advancing Is to Is per cent, soon
developed weakness and under selling,
chiefly for the short account. Almost
the entire list sustained losses vary
ing from II to l per cent. The down
checked by the Unexpectedly favor
able showing made by the Chicago,
Burlington & Quincy. II was rumored
yesterday and this morning that the
statement would show a decrease in
net earnings of about 100000. InSTead
the official figures reported an increase
as compared with 1895 of $780, 99 in net
earnings and of 500, 1853 in surplus. On
this the shorts covered freely and Bur
g. RI
1915, and other stocks rallied fraction
ally in sympathy. The firmness, how
ever, was of short duration, and DUR
ing the afternoon the advance was not
only lost but in some instances, more
particularly in the industrials, sub
stantial declines were recorded. The
growing belief that the affairs of trusts
will be probed into by the New York
state senate investigating committee
and continued advices from Washing
ton that the differential duty on re-
fined sugar will be reduced, operated
against the industrial group. Sugar
fell from 1865 to 114h, while Leather
preferred declined ~ to 1915 and Lead
rs to 227s. Chicago Gas was sold down
rs to 771s, on advices from Springfield
that a bill will be introduced in the
Illinois legislature reducing the price
of gas in the state. Officials of the
to the matter. The grangers yielded
about a half cent, and Louisville &
Nashville and General Electric even
less. Ameng the specialties Jersey
Central declined a to SO, and Big
Four Il to 81. while New Haven &
Hartford on purchases of odd lots,
jumped points to 1917, and Long
Island 2 to so. The market closed
quiet in tone. Net changes showed de-
clines of A@%. Jersey Central, Sugar
and Leather preferred. however, lost
lois per cent. Total sales were 141,-
434 shares. including 33,S0O Sugar, II, 300
Burlington, 1850 Leather preferred,
$500 Chicago Gas and $500 st. Paul.
The bond market was firm today.
The sales aggregated s2,791. 900. Inter
national & Great Northern 3rds rose l
to 2S; Kansas City & Northern St
Charles Bridge IS, IL. to 107; National
Starch 6s. 1, to 1912; Jersey Central
gen. 5s, q, to 11715: Northwest con is,
Is. to 1407; Rock Island deb 5s, 2, to
SO; Northern Pacific con 5s, %. to 595s;
do. 3rds, u, to 54B; Burlington con rs,
Il, to 1171a, and Kansas Pacific, Den
yer div IS, Is, to 1853.
In government bonds $2S. COO 900 cou-
pom As of 1907 sold at 11219@n25s, and
do. 1925. at 1925.