The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-19
Yesterdays Stock Market Fluctu-
ated Over a Wide Extreme.
RALLY ON PEACE RUMORS
PRICES WERE THE TOY OF
WASHINGTON CONJECTURE.
Rally In the Market Before the Close
Is Significant Of the Nervous
Waiting Attitude Of the Speculat-
i've World - Relapse In Spanish
4's-Bonds Firmer at Close.

New York. March 1S.-Today's stock
market fiuctuated over quite wide ex-
IRENE. first upwards and then downward.
ana with later recovery above the early
hiSh point. But II is noticeable that the
net changes were not very large. The eX-
IRENE duiiness was a feature. This and
the character of the runiors which affect
ed the MAJ ket indicated the manipulation
% sma-- DrO1essIona! traaers, whose eA--
istence depends upon g movement OF
prices, whether up or down.
BASED ON RUMORS.
The late rally was the feature of the
day anc was Significant OF the nervous
waiting attitude OF the speculative world.
This ral.y was founded on rumors as 10
what could be taking place at the secret
meeting of the CABINET IN washington
COMPROMISE with Spain over CUBA was
the Duraen of THIS rumor, accompanied by
the Information that spain was perfectly
willing to grant everything ON the sole
CONDITION that her flag remains in Cuba-
The professional short sellers FASTENED TO
cover o1en contracts on the Strength OF
this report and another 70 the effect that
a distinguished ofncer OF high rank in the
United states navy had expressed the
opinion That the Maine was destroyed by
an Internal Explosion que TO an acct
dent.
EXCITED ACTIVITY.
Business in the furry caused by these
rumors WAS more active than at any time
during the DAY but was not on an IN
uSUany large scale, especially considering
the wide movement of prices. Neither
was the rally well held, the reaction
touching practically all stocks and
amounting 10 a substantial fraction IN
many casss. As Tor The opening squirt, II
was tlargeiy assisted by the buOyancy OF
the loca. traction stocks, based on the
reported offer OF the Rapid Transit TO an
elevated company. The heaviress and
duiiness were without the slightest inter-
probation after the opening squirt, up TO
the recover in the last hour. The re
lapse in S:anish As on the London and
Paris exchanges was not reassuring. Not
withstaldiag yesterdays slight hardening
in the rates of exchange and the dis
unctiy higher tone in to1ay money mar
ket, further gold TO the amount of 100000
was engaged for import today.
BONDS WEAK.
The bond market showed weakness in
the early dealings and a hrmer tendency
at the close. Total sales. 81, 100000.
L. 5. new As and old As, coupon, were
Z lower. and the old IS. coupon. were y
lower, and the old As, registered, Il lower
bid.
MONEY MARKET.
New York. March 1S.-Money on call
easy at 11aGl%. per cent; last loan. IL per
cent: prime mercantile paper. 432ft91a per
cent. sterling exchange steady, with ac-
tUal business in bankers bills at 1890
4.si for demand and at 4.S0A for 81 days;
posted rates, 4S1i2m4 S2Ia and 4S4i2G,4.S512;
commercial bills. 4.S0G4S0lA.
Saver certificates 5od55%4; bar silver 80;
Mexican dollars. 45.
,.U,e. llll.e.., Dcnus weak: state bonds
duh; railroad bonds weak.
SALES OF STOCKS.
Total sales of stocks today sO),25o shares.
including:
Burlington. % 100: L. & N. 1850; Man
haitian. 23O05: Metropolitan. BIB; \. Y.
Central. 6.693; Northern Pacific, 1850;
Island 9225; St. Paul, Il. 055; Union Pacific,
16. SCI; Tobacco. 1870; Peoples Gas $3.50;
Sugar, &C, 939.