The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-02

New York, Oct. THE bulls made
their first aggressive stand today for
over two weeks, and after heavy de-
cline in the earlier part OF the day they
came TO the support Of the market
checked the decline and brought the
closing prices very generally above
last nights level There was nothing
in the news of the day that could De
counted mora favorable than that OF
the preceding day or two and sharp
stiffening in the rates for call money
during the afternoon might be calteo
a, distinctly unfavorable factor. But
1t had no effect in preventing the re
covsrT and the close at practically the
highest point of the day. Erther THIS
was because the 4 per cent rate, MLlch
was asked, was considered artlnclal
and manipuiatiYer or because coni u
dence was felt that 1t would result an
the prompt importation of gold 10 re-
Neve any probable stringency. A f0f-
Their lowering Of Il per cent in the &C
tual rate for demand sterling 20 4-e4Ss
encouraged this view and the propa-
bility of early engagement oil solo lor
import was freely talked about To-Day.
The market was surprisingly lfresuLaL ~,
prices of some stocks moving up @sid
down by wide jumps apparently en-
tirely Independent OF any general ten
dency 81 the market. In the early
trading the raids Of the bears on spec
ial stocks in each group was successful
in depressing the particular group. and
the whole list by sympathy
Soon afterwards sustained buying on
a large scale became evident and heavy
covering movement by the bears fol-
lowed Buying orders by the commits
sion houses also had added TO the
strength Of the market.
A striking result of the recent sharp
decline in the price Of silver was
shown in the August statement OF the
Mexican Central. While the gross
earnings showed an increase of $l66,33S,
the net earnings shoWed a decrease of
Sl35,4TS This was due, the officials eN-
plained, 70 increased expenses caused
by the higher rates Of exchange on the
United States in purchase of material
and in outlay London was buyer in
this market again today Some of the
stocks which showed weakness early in
the day failed 10 recover entirely, but
showed net gains as a rule ranging
from q fraction to per cent or over.
Railroad bonds rallied strongly after
early depression. Total sales, 81, 1905 GEO.
q. S. new tours were advanced Is
bid today
Sales OF stocks today we're 509.209
S0GTES, llciNAVnST AtNA4SNn DAO-, TO-
5S7; C. & O.. 1000; Chicago. Burlington
{, Quincy. 1911, Louisville & Nash
vile, 1925; Manhattan, 14,125; Mis-
souri, Pacific, 26,92o; Missouri, Kansas
& Texas pfd.. $50; New Jersey Gen.
tral. 5G35; New York Central. $3.50;
Northern Pacific OSLO; do. pfd.. 22,S10;
Northwestern, 1885; Ontario & West
ern. BIO; Reading. $500; Rock Island
ex-div.. 29.0S5; St. Paul, IS. 100; St Paul
d. Omaha, $3.50; Southern Railway pfd.
II 400; Union Pacific. 1896; Union Pa
cidc, Denver & Gulf, 4,554; Wabash
pfd.. 4,195: American Tobacco, 6,240;
Chicago Gas. 69.S0S; Consolidated Gas,
$500: Lead. 3.995; Pacific Mail, 1000;
Sugar, %, 1876; T. c. & L, II sos.
Money on call firm at 25s@5 per cent.
Prime mercantile paper, 1905 per
cent
Sterling exchange heavy. with actual
business in bankers bills at 4s45s @
4.S42I for demand and 4.S21z@4S2M for
so days.
Posted rates. 4S8@4S4 and 4S5h@
4S6
Commercial bills, 4S1.
Silver certificates, 55% @571z.
Bar silver. 553k.
Mexican dollars, 42&