The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-06

New York, Feb. 5.-Today's stock mar
ket was lifted to a higher level by the
conspicuous strength OF comparatively
1e= stocks. 1t was noteworthy that the
Nanderbilts. which gave the initial impe-
tqs TO yesterdays advance. showed the
effects today OF prOfit-taking, Lake Shore
losing points and New York Central a
small fraction. Michigan Central. after
bounding upward at the opening, reacted
over point, but closed with a subs tan
tial gain. The far-reaching Importance
or the merging of New York Central and
Lake Shore and the prospects OF addi-
tons TO the plan continued to have a
marked sentimental effect all along the
line. Possibilities in the way of reducing
expenditure for administration and of
stability OF rates for traffic from cOnsOl-
ldatiOn are canvassed with eager atten-
ton by dealers in securities. Great North
ern preferred sold at a further decline of
two points and was bid down still fur
Their, the various reports of plans for in
creaSlng capitalization and distribution of
the companies accumulated resources be-
ing so conflicting as TO lead to the con-
viction that no plan has yet been formed.
Although business was on a large scale
and widely distributed. the fluctuations
in prices were exceedingly narrow outside
of the special cases. the most important
OF which have been Indicated
STOCKS SHOWING STRENGTH.
At different times during the week the
market has been under the influence of
aggressive strength in Chesapeake *
L
sylvania, Northern Pacific preferred, the
coalers. Union Pacific and other less con-
SpicuOus stocks. Wide advances have oc-
CURED in some of the high-priced closely
held investment stocks. notably Great
Northern preferred, which advanced an
extreme q points, but reacted 1 points.
The weeks heavy proht-taking have been
well-absorbed and the outside Darticipa-
ton in the market has grown Many
stocks have been at times below last
weeks closing level and some stocks be-
snaa r-saN
is higher principally as the result of yes
terday anu today. Gains generally range
between and 3 points, with exceptions
IN active stocks up to points.
BOND MARKET.
The bond market has continued to show
the great activity and strength which 1t
did in January. The total par value of
sales in January was nearly se3 900 900 /
This total was never exceeded on the ex-
change, except in October, 1880 when the
sales exceeded $14o,0O0.O0O- In view of the
present Importance attached to the New
York Central-Lake Shore consolidation. il
lisa considered significant that the preVi-
Gus period of great activity was at the
time of the West Shore settlement. Kan /
sas Pacific consOls showed an extreme
advance for the week of i2k points. and
other Kansas Pacific and Union Pacific
issues showed large advances. Prices all /
around are markedly higher. Total sales, /.
50. 500 600.
United States new As registered adj
Nduceu =. 5 coupon. eN-lntereSt. Il, the ]
old Is registered and the SIS registered, {
4. and the old Is coupon and the SIS
coupon, eX-interest. i bid.
MONEY MARKET.
Close: Money on call. easy at 11kdfA I
per cent; last loan. IL per cent. Prime /
mercantile paper, 3N4 per cent. Sterling T.
exchange, steady, with actual business in /
bankers bills at 4.S5a4.S514 for demand /
and 4.S3l5 for 60 days. Posted rates, /
4. S3leG4.S6. Commercial bills, 4.S2Q4. S21z. I
Silver certificates. 5611N571s. Bar silver /
567A. Mexican dollars. 45ss.
State bonds. dull railroad bonds. I
strong: government bonds, firm: new As .
1zSi2; new As coupon. PSI;
old + 5 registered. 1872; old Is coupon,
HES; rs, 100; SIS registered. 113Ia; 5s cou-
pom. 1872; Pacific 6's of 90. 104.
SALES OF STOCKS.
Total sales of stocks today. $4,000
shares. including: Canada Southern
89l1; Burlington. 1880; Erie preferred.
$50; Manhattan. 4520; Metropolitan
Street Railway. 3.O05; Michigan Central
1890; Reading preferred. $50: New York
Central. $3.50; Northern Pacific. S63S:
4 SIS: St. Paul. 1920: Union
Pacific. $50; Tobacco. 1880; General Elec-