The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-05
Condition Of the Wall Street
Market Yesterday.
RESUME OF THE WEEK
SENSATIONAL AND EXTREMELY
IRREGULAR MARKET.
Bond Market Has Shown Great Ac-
tivity During the Week, and
Prices Are Generally Higher
Western Live Stock Markets
Labor Day VIII Be Strictly Oh
served In New Zork's Financial
Districts.

New York, Sept THE market held
remarkable steady today. considering
the fact THAT a Sunday and holiday
are to intervene before the resumption
of trading and that realizing has been
on quite a large scale all week. There
was liquidation in progress today with
cut doubt, but not ON a heavy scale
and offerfngE were we'll absorbed by the
large commission house buying. OPP
orators who have been a recent domi-
nant factor in the market did not share
in the dealings today, and no ore stock
was pushed to a sensational point as
prop to the market, as has been the
case on each day this week The mar
ket was under considerable pressure
after the opening on offerings to realize
and declines were general throughout
the list
The week has witnessed a liqWda-
ton of heavy holdings Of stocks to
realize profits on the raise which COM
menced in the grangers on Monday
1t has progressed steadily since then
and has kept the price of recent ia
yorltes in the speculation more or less
depressed. The market has been saved
from large reaction in face of this
Z
| force of individual stocks, the prices Of
which have been rushed forward in a
sensational manner under manipula-
! tiCn- On Tuesday it was Sugar which
was forced up points on new inter
probation of old facts regarding the
probable exclusion of duties on refined
sugars. On Wednesday, Sugar was
made to serve the same purpose
through the morning hours with a
jump of per cent.
The successive upward bonds of diff
ferent stocks and the continuous liquid
alton which attended them have made
a sensational and extremely irregular
market all week. The greater part of
the advances have been well maintain
ed. and the volume of dealings has
shown a constantly broadening de-
mand, the sales on Friday approaching
the maximum for the year and those
today the maximum for a Saturday
That this tremendous speculation has
absorbed a vast sum of money is evil
dent from the clearing house state
mentS, and still more evident from
hardening of exchange rates during
thei week, the purchase of securities
abroad having apparently offset the
heavy foreign purchases of our bread
Stuffs.
The cheapness of money is one in
ceBtiVe TO rise in prices, especially
in, view OF the recent placing of large
issues of railroad bonds for long lys-
RODS at an interest rate of So per
cent, which bonds command premium
in the market The reduction in the
rate of interest and return Of invested
money naturally tends to raise the
principal value of securities on which
the dividend rate is unchanged. Prices
of government bonds are at high rec
ords recently. That the plethora Of
money and its cheapness are an infiu
ence in this way in the rise in prices of
securities, as well as the increased
earnings shown by the properties, is
evident. The extreme gains in the
stock market have been indicated. but
the whole list is materially higher, es-
pecially the industrials.
The total sales fer the week were
g. 194,901 shares.
The bond market has shown great
activity during the week and prices are
generally higher Total sales, SO, 76S,
400.
Government bonds are Is to l per.
cent higher on the week.