The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-08
MARKET WAS STRONG
Conviction That Prices Will Advance
After Election.
OUTSIDE ORDERS SMALL
-%-
FOREIGN SELLING WAS WELL
= ABSORBED.
Bullish Tendency Fostered By Heavy
Volume of Bank Exchanges and
Enormous Exports of Cereals
Favorable Reports of Railroad
Earnings Continue.

New York. Nov. THE days stock
market undoubtedly reflected the convie-
ton Of operators in securities that with
election uncert antilles out OF the way the
dustries and business will have tneir
effect and prices Will advance. ms
conviction so far as it has found renee
ton in the market was almost purely
professional one, for the outside interest
as seen by orders through commission
houses, was very small. The professional
element showed no disposition 70 take
profits pending int holday, altnouSH
there has been sufficient rise IN the last
two DAYS to turn the balance OF opera
tions to that side in any closing up OF
rather on the side Of covering OF Shorts-
Trading proceeded in very desultory
manner during the early hours OF the
day. although the selling for foreign ac-
count which was fairly liberal, was well
absorbed and prices in the internauonat
Stocks were firmly sustained southern
Railway preferred was conspicuous eA-
ample, but as the day wore on the mar
ket gained in activity and strength ana
embraced an increasing list OF STOCKS
The contemplation of the very heaNy
volume of bank exchanges and the enorm-
Gus export business in cereals nau tnelr
influence on the bullish tendency, as dld
the continued favorable report OF rallroaq
earnings, especially from the west anu
south. An increase of 1000 tons in the
east-bound freight movement from Chi
cago was a feature. Handsome increases
Railway, Northern Pacific and Great
Northern preferred, the latter showing
$3S6. 81 mere earned for October than last
year. The stocks which are junior to the
bonds which were favorites in the heavy
bond business today felt the advantage
of that movement. Atchison preferred adj
Vancing over a point. Tobacco shoWed
the largest activity and gained over z
points. Metropolitan Street Railway and
Edison Illuminating Of New York are up
to points or over on talk of advantages
70 h. Trssavv no Of re
Quits for use in electric light purposes:
Notable movements were an advance OF
Z points in American Express and 5le
points in Pullman. Northwest gained
nearly two points and Lackawanna 2
points. There We're dealings in odd lots
of quite number of high grade stocks.
the day was in bonds. In this department
there was enormous absorption of the
bonds issued for the purpose of re-
organization of various companies and
running from 80 to 100 years. OF these
the Der cents were the favorites and
the Atchispn issues were easily the lead
ers. gaining per cent in the price on
very large demand. There were indi-
vidual blocks of this bond sold of par
value of S195.000 S1C5 GOO and two of $780,
COO The Union Pacific As were less
prominent but still active were Northern
Pacific prior liens and Norfolk & Western
General. The Erie prior liens and the
Reading As. which might be placed in the
same class were heavy. Marked strength
and activity was shown also by the new
Baltimore & Ohio As. when issued and
also by the new Baltimore & Ohio 319s.
Dealings IN Southern consol 5s continue
very large There was good demand as
well for many other bonds of the middle
grade extended in some cases to the
purely speculative issues. Total sales.
S5.70000O. United States new IS coupon
and the Is advanced i. and the old As
and the new As registered and the ISIS in
the bid price
Total sales of stocks today were 2SS-
ATChiGDQ.
Manhattan, 5.lS4: Metropolitan Street
Railway, 9.0G7; Northern Pacific. 1925;
Rock Island. Abs; Union Pacific. $3.50;
Union Pacific preferred. 6.56S: St Paul,
s0,G24; Cotton Oil. 3,212: Tobacco, 80. sos;
Heople's Gas. 1850; Sugar, 22049; Ten
nSssee Coal & Iron, 1856.