The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-29
Prices Were Carried Up to a High
Mark.
U. P. AND SHORT LINE
BOTH OF THESE STOCKS SHOWED
GREAT STRENGTH.
Demand For Securities Was Broad
and Well MISUNDERSTANDING
Acceptance of the Peace Terms
Caused a Squirt at the Opening
Helped By Traffic Returns.

New York, Nov. 2S-An animated buy
ing movement broke out in the last half
hour of today's stock market, which car
ried prices throughout the list buoyantly
above the previous high level and made
the closing very strong. The demand was
broad and better dis9ibuted than at any
other time during the day, and the mar
ket looked healthier and freer from man
ipulation and less cOngeSted in a rev
prominent stocks than at any time during
the current upward movement just
what the motive was for the renewal OF
the buying was not very obvious. Per
haDs the sullen obstinacy of the market
in the period of dullness and reaction IN
spots which followed the opening strength
had large influence in encouraging re
neWed commitments to the long slde.
The receipt of some orders IN COMMISSION
houses which had been held back by the
damage to telegraph wires was also a
factor.
The market had already had its OPEN
ing squirt on. the acceptance by Spain OF
the peace terms offered by the United
States. Prices for Americans had been
sharply advanced in London on the
strength of this factor before the open
ing here. The professional traders rule
to sell on good news brought q flood or
offerings to realize on the opening az
vance by those who had been buying for
several days past in anticipation of the
Paris decision. The bears seized the OPP
portrnity to attack group OF special
ties, but the coalers, which have so often
been the target of the bears, broke away
from their associates and showed unus-
ual strength on account of the belief in
an adjustment of difficulties over the con-
troll of the trade.
There was notable realizing in the
Atchison issues, which held them back
throughout the day. There was heayiness
also in the Federal Steel stocks and at
one time in Sugar. The reactionaTy
tendency carried prices before the middle
of the day back to near Saturdays level
in some cases. The recovery began with
the receipt of a number OF strong tra1i1c
returns, notably that of st. Paul, The
aggressive strength shown by Union Pa
cific,. Northern Pacific and Oregon Short
Line issues was rather convincing evil
dence of progress in the efforts to neal
the difference between Northern Pacific
and Oregon Navigation. There was a
conspicuous upward movement in Metro
politan Street railway, carrying it to 1908
! in spite of loss of earnings by the snow
storm.
The bond market was strong and active
and showed q general upward tendency in
So. $4,000 United States Is declined u.
while the 5s advanced 4 and the old As
registered and the new As IS in the bid
The total sales of stocks today were
Atchison preferred, 1900; Chicago &
Ohio, 1880; Burlington, 1850; Denver &
Rio Grande preferred, 5000; Louisville &
! Nashville, 26.502; Manhattan 1920; Met
ropolitan Street railway, 1890; Reading
first preferred, 10120; Missouri Pacific,
5,5O5; Northern Pacific, 26,320; Northern
Pacific preferred, 1850; Northwestern,
$3.50; Rock Island $50; st. Louis & San
| Francisco second preferred, $685. Union
Pacific. $4,000; Union Pacific preferred,
/ 1880; Southern railway preferred, 30, 1872;
Union Pacific, Denver & Gulf, 1892 Pa
per. $500; Paper preferred. 5, 800; Tobacco.
1894: Federal Steel, 3141; Federal Steel
preferred, 1900; Peoples Gas. 5,120; Pa
cific Mail, $780, Sugar 1926; Rubber,
4 $50: Western Union so