The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-06
Market Utterly Stagnant Under
Doubt and Uncertainty.
MONEY GOES TO INTERIOR
STRENGTHENING THE RESERVES
OF COUNTRY BANKS
Wall Street Pressure For Peace On
Congressman Had a Contrary Eff
feet From That Intended-owners
of Money Reluctant to Put 1t Out
In Loans-Bonds Depressed.

New York. April 5.-Today's stock mar
ket was almost utterly stagnant and
| there were minutes at a time during the
session of the exchange when no quota
ton for any stock was recorded. Most
of the business was made up of trans
actions in few of the leading stocks,
Sugar and the grangers absorbing the
| largest portion rhe dullness itself was
! expressive of the prevailing sentiment of
/ waiting and of extreme doubt. Not only
We're reports very conflicting as to what
| would be the tenor of the presidents mes
/ sage to congress. but opinions as to how
! the message would be received and dis
posed of differed widely.
BROKERS PRESSURE FUTILE.
There was practically nothing left of
yesterdays sanguine anticipations that
sentiment would grow in Washington
in fact. significant reports that the or
ganiZed pressure which has been eXerted
ON congress during the last few days
against hostile measures has rather de-
feated its purpose by awakening resent
ment. Wan street counted much on the
effect of these united representations to
f, congress. Prices showed small losses
throughout as a net result of the days
trading.
MONEY GOES TO THE INTERIOR.
The money market continues to reflect
the stress over the relations with Spain
as forcibly as in the stock market. Funds
purpose of strengthening the reserves of
interior banks The proportion of re-
serves of all the banks in the country
has been enormously increased in the
last few weeks and New York has made
good the consequent drain upon its re-
serves by a large contraction on loans
and by heavy imports of gold from Eu-
rope.
RELUCTANT TO LOAN.
The owners of money are very loathe
to put IL out in loans. The prevailing
rates of . per cent for time money and
the varying rates for call loans are said
TO he largely sentimental and based on
apDrehensions of war.
Cold continues to come from Europe,
tho engagements announced today
amounting 10 nearly So coo 900.
Transactions in bonds were on a very
small scale. but the market shared the
225A 900.
United States new As and the old As
registered are = lower bid today.
MONEY MARKET.
Money on call, firm. gas per cent; last
loan per cent. Prime mercantile paper,
$40 per cent Sterling exchange, weak.
with actua! business in bankers bills at
4.s3G4. S3h for demand and at 4.sOAq
4So12 for 90 days; posted rates 4.d94.S2
and 4.S4a4.S s.; Commercial bills, 4.791a.
Silver certificates, 55lAd56Is. Bar silver,
55Si. Mexican dollars. a..
Government bonds weak. state bonds
dull railroad bonds weak.
SALES OF STOCKS.
Total sales of stocks today. 257.1OO
shares, including: 25.547 Burlington. 1920
L. & N. l5,7l5 Manhattan. s.S55 Metro
politan Street Railway, S,2S5 New York
Central, 1850 Northern Pacific preferred. /
$3.50 Rock Island. 25.55O st. Paul, 26.Si2 |
nmion Pac'fie] $i29 P D & g. Is 200 200
Consolidated Gas. 1925 Sugar
BOND QUOTATIONS.