The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-10
TRADING ON CHANGE
Small Gain throughout the Stock
List at close.
FOREIGN MARKET WEAK
MORE Or LESS REFLECTED ON
WALL STREET.
Trouble In Brazil and Realizing In
New York Central Had a Depress-
ing influence - Hardness CT
Money Rates and Stiffening of
Time Loans-Bonds Dull.

New York. March 9-Trading on the
Stock Exchange was iistleSs all day. with
the exception of an early burst OF activ-
ity. There were buying orders OF the OPEN
ing and there was the additional incentive
of q sharp recovery in Americans on the
London exchange. so that the profess onal
traders, who were seeking the vulnerable
points in the armor OF the bear contin-
gent, succeeded in bidding uD prices 10
uncover margins on some of the shorts.
The resulting scramble TO cover caused
sDecialties. but wnicn extended up to a
point also in the railway list. One i'm
portant failure resulted from the squeeze
OF shorts. After the reduction of the short
interest prices sagged with only OCCASION
al light Interruptions during the re-
mainder of the day. In the late dealings
the level OF the market had fallen prac-
tically to last nights level. but a harden
ing at the close resulted in a small gain
throughout the list
FOREIGN MARKET
The progress of a periodical settlement
on the London exchange caused some
buying here for that account. The fever
ish and uncertain tone of the foreign mar
kets was. however. more or less reflected
here. The weakness of foreign exchanges.
on reports of Internal trouble in Brazil
also had its influence in unsettling the
local stock markets. Realizing in New
York Central after the declaration of the
regular quarterly dividend had a depreSs-
ing influence on the list.
NO INFLUENCE.
The continued engagement of gold for
import had no influence, in view of the
hardness of the money rates. the stiffen-
ing time loans and the increased actions
OF tenders on mercantile paper both here
and at other domestic centefS. Foreign
exchange continued weak. the actual rate
Tor demand sterling falling to 4.S3k and
the posted rates being reduced 19c both
Tor long and short selling. There was in
spite OF stitfening of the discount rate
in London. Which was, however. reflected
in q rise of sterling exchange both at
Paris and Berlin.
BONDS DULL.
The bond market fell into dullness today
ana there were some receSsions from
early prices. but the tone was firmer than
that in stocks. Total sales. 81. 10000.
vanced IL; do. coupons and the old As
registered, ], the old IS coupons. 4. and
the IS Z bid.
MONEY MARKET.
Money an call steady. 2a2lk par cent;
last loan. per cent. Prime mercantile
paper, 4dfH per cent. Sterling exchange.
weak. with actual business in bankers
ASIA for 50 days. posted rates. 4S2G4. SO
and ASH. Commercial bills 4 SOIk.
Silver certificates, 547sG55- Bar silver,
Government bonds, strong; state bonds.
dull; railroad bonds, firm.
SALES OF STOCKS.
Total sales of stocks today. 232, 900
shares. including Atchison, 1854; c. &
O.. 1850; Burlington, q, O66; Manhattan.
ago; Metropolitan, J. 40: New York Cen
tral, 1904; Northern Pacific, 7720: North
ern Pacing preferred. II. $50; Rock Island.
I, S9S; st. Paul, 23.492; Union Pacific, 8 $50:
39, $40.