The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-10-08

New York. Oct stocks narrow and
professional today. Even the industrial
specialties. which have shown violent
fluctuations and feverish activity for some
time past fell into comparative quiet. The
industrials, nevertheless, continue to &C.
cuDy the most prominent place in the
trading. The movement of prices in TINS
grouD was conflicting IN the early part or
the trading, but the reactiOnary tendency
gained the upper hand in most cases ana
wiped out nearly all of the earlier gains.
Sugar was less active than of late, but
ruled above. vest erday' s level most of the
day. and rallied a point from the lowest
in the late dealings, III face or the con-
tinued heaviness OF the general nark ,s1
Metropolitan was advanced early 10 I0i,
but broke in the late dealings to 1892
Peoples Gas and Brooklyn Rapid transit
also enjoyed their period of strength, put
succumbed in the late dealings, the lat
ter showing a net loss Of rs. Tobacco,
Consolidated Gas. Cleveland, Lorraine d
Wheeling preferred, Reading first pre-
ferred. Pacific Coast Improvement, and a
number Of other specialties were notably
weak.
In the railway list. the most notable
feature was the continued large offerings
of Northern Pacific and the poor absorp-
ton of the stock shown by the market.
The opening was at decline OF Is, IN
spite II the fact that ii was the one
American stock which showed an advance
in London. The price declined at one time
IL and rallied only feebly. Some effort
was apparent to support the price at
times. which was. attributed TO German
holders. but the burden Of liquidation was
too heavy. Union Pacific sympathized-
The preferred stocks of both companies
were notably firm, the declaration of the
regular quarterly dividend of l per cent
on Nor thern Pacific preferred being an in
cident of the day.
There Were rumors in connection with
the decline in Northern Pacific common
of serious differences among inside inter-
esIS over the questions of policy. these
interests holding u very influential posi-
ton towards the whole transcontinental
situation. There is fear that further con-
fiicts over transcontinental business Will
he involved. Next to the Paci1Acs, the
grangerS were most notably affected The
failure of this group 10 respond to the
very favorable earnings shown by recent
statements also invited realizing. Rates
for time money were easier today and
mercantile paper is also tending to a low
er basis. with a very little supply in the
market. The shipment Of currency TO the
interior during the week mas Offset i'm
porte -dsDecie, and as banks have gained
from the sub-treasury, the bank state
ment is expected to show further large
Aain in cash reserves.
A reactionary tendency developed in
parts OF the bond list, after early firm
ness There were sharp gains in Wiscon-
sin Central lists and SuSquehanna & West-
ern general IS. Total sales, So 155. 600.
L. S Is advanced =. the IS. when IS.
sued. Is. the old As reg. and the new Is
coupon 4. and the new As reg. and the 5s
i n the BID price.
Total sales Of stocks were 81, 300 shares,
including:
Atchison preferred. 4.19O: Burlington,
$500; Manhattan, $3.50; Metropolitan
Street Railway, - $50: Northern Paci15c
6e655; Northern Pacific preferred, 1870;
Rock Island. 3.0Sl; Union Pacific. $500;
St Paul. $3.50; L. p. d. * c., 1880;
American Tobacco. $3.50; Peoples Gas,
u,S20; Sugar, $3.50; Rubber. 400.