The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-04
Activity Was Chiefly Confined to
the SpecialtieS.
LONDON WAS A SELLER
BANK OF ENGLAND STILL LOS
ING ITS GOLD.
Granger Stocks Were Dull and Slug
gish and Pacincs Suffered Under
Realizing Sales-St. Paul's State
ment Was a Record-Breaker-
Many Combines and Trusts.

New York, Dec. S.-There was no
marked change in the character of the
market today from hat which has pre-
Nadeq Tor several days past Activity was
LOT the most part confined to the special
tles, and the extreme range in the price
OF many leading railroad stocks did not
exceed Is 10 y. London was a seller OF
Americans again. though the rate for
money was easier at that center. in spite
OF the additional withdrawal of over
$l,5uo,0U0 in gold from the Bank of Eng
land, presumably for shipment TO Ger
many. London's offerings Of stocks here
We're fairly well absorbed, but there was
no increased demand. The grangers were
remarkably dull and sluggish. in spite Of
the St. Paul statement for the fourth
week N November. showing q level Of
earnings, Notwithstanding the bad
weather prevailing, never before exceeded
except IN 1892. There was a slight pres
sure Of realizing sales in Northern, Union
and Central Pacific, but in the case of the
latter there was a subsequent rebound Of
Sugar dropped a sharp fraction at the
opening on rumorS of further reduction in
the price of the product, but this special
" atterWard moved strongly upward on
covering Of shorts. Pacific Mail was also
a strong feature n moved up to 40s on
good business outlook for the company.
Metropolitan Street Railway continued
It's upward course above all previous high
records, while Manhattan moved in a con-
trary direction. the movement being the
result Of the traders interprettion OF the
--fAhE4 A1Ah - a. 4dtlu t4a44olA - StEl4.
Ihere was q resumption OF the upward
movement in Federal Steel EpTeferred and
apparently sympathetic advances in Ten
nessee Coal ana Colorado Fuel.
The events Of the week III the inter
national exchange market have. i've new
and convincing evidence OF the strength
OF this cOuntry'S financial position. The
decline in discount rates abroad early
In the week wiped out the margin OF
profits between the interest rates abroad
ana those prevailing here.
The heavy contracts for steel rails in
olcates a coming period of railroad i'm
proVement and extension and there are
numerous schemes for consolidation and
organization OF great industries being
Hoated in Wall street. Among those for
the week are corporations in silver plat
Ing, thread, Tin Plate. linseed oil. photo
graphic cameras, etc. requiring many
millions for the process of f~inanciering.
In the bond market prices have been
fully upward on q large and well distrib-
uted volume OF business.
u. 5. Ends II As and the new As and the
bs registered have advanced 3 and the
olds and the S coupon, Il in the bid price.
d total sales of stocks today were
19l, 200 shares, including Atchison pre-
ferred. 900; Central Pacific. $3.50: I. <
n, G,520: Manhattan, 4,S50: Met. st. Ry..
1850; Northern Pacific, $3.50; Union Pa
cihc, 7,l55; st. Paul. 800; Southern Rail
way. A,470; Southern Railway preferred.
13.SSS; American Tobacco. 1920: Federal
Steel. 1900; Federal Steel preferred. ISL:
Pacific Mail Is. 0S0: Sugar. q, 239: T. c. &
~ cons Rr-hha~ DraFor-ad y 1QA