The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-28
Yesterdays Transactions Reached
Nearly a Million Dollars.
PRICES WERE HIGHER
MANY FAVORABLE INFLUENCES
SUPPORTED THE MARKET.
Favorable Traffic Reports and a Good
Bank acknowledges PROPOSE
ton of Future Dividends viii Re
main In This Country-Sugar
Stock Suffered to Some Extent.

New York, Dec. 27.-Stocks were strong
and higher today, with business well dis
tributed. The Improvement in railway
quotations was from one to two points
generally, and even greater in the spe-
cialties. Shifting Of speculative accounts
and profit-taBing were at times respon-
sible for the fluctuations downward, but
the tone throughout was confident.
Among the many reasons TO account for
this were favorable traffic reports for the
third week in December especially St.
Paul where the gross increase was over
s175,000; Saturdays good bank statement;
the North Dakota decision in favor of
the railways, and continued ease in the
money market. Moreover, the advance in
Americans in London had d stimulating
effect, although later there was moderate
selling from that quarter on advances
here There was q continuation of the
tendency to discount January dividend
disbursements, a larger proportion OF
which viii remain in this country than
hitherto, because OF absorption of large
blocks of internationals formerly owned
Abroad. The Sran2erS were more largely
traded in than of late, at advancing priA
ces, Rock Island making an extreme adj
vance of three points; St. Paul, l3s, Bur-
lington. IL, and the others Il point each
Many orders accumulated over the holt
days, to buy at the market, caused a
wide opening in many stocks. American
Steel & Wire stocks rose about eight
points, and each retained the greater part
of the advance. Federal Steel also, both
common and preferred, was up over two
points and eased off somewhat Peoples
Gas and Brooklyn Rapid Transit were
very strong, the latter on the theory that
there would be an announcements in jan
uary Of the consolidation of competing
lines. Sugar Refining was an eXceptio TO
the general strength, because of the re-
ported complications in the trade. due TO
sales direct to the retailers by the indie
pendent companies and a reduction in the
price of the refined article. The stock lost
about three points at the opening, rallied
slightly and closed little above the low
est.
Several of the minor industrial spscial-
ties displayed strength. especially Leather
preferred and Lead. Other stocks whose
| advance attracte,, attention were Nor
folk d Western, Pittsburg, Chicago,
Cleveland, Cincinnati & ST. Louis the Pa
cities. Metropolitan Street railway and
Bay State Gas.
The closing was strong, slightly under
the best, aggregate transactions having
reached nearly Il million and establishing
the largest total for the year.
The bond market tended strongly up
wards, the inquiry embracing a marked
provements Total sales were So, 150, 600.
United States IS advanced 4 and the IS
! Is in the bid price.
Total sales of stocks today were %. 800
shares, including Atchison, 1900; Atchison
preferred 81 $50: Central Pacific, 4,445;
! Burlington, 1920; Denver & Rio Grande
preferred, 1850; Louisville e Nashville,
| TO, 100; Metropolitan, $500; Missouri Paci-
! fic, Is. 1870; Missouri Kansas & Texas pre-
| ferred, $500; Northern Pacific, 43,O20;
| Northern Pacific preferred 1920: Rock
| Island. 5000: Union Pacific 1900: st.
Paul. $1,000; Texas & Pacific 17000 Steel,
| 60 900; Steel preferred. 1920: PEOPLES Gas,
! $500: General Electric, $3.50; Lead 9.727;
! Pacific Mail. 1920; Sugar, $1,000; Leather,
! 1900; Leather preferred, 50 0l0: Rubber
| 5.400: St. Louis & San Francisco, 3430;
! Chiiago Great Western, 17,720