The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-20
Some Stock Traders Who Bank On
No War.
NOT SELLING, BUT BUYING
THEY WILL SCOOP THE
MARKET IN THE END.
Decline of Spanish Fours In London
Leaves No Doubt of War In Euro
pean Financial Circles-Declines
All Through the List On Wall
Street-Money Market.

/ New York, April 19.-There are men in
Wall street still who believe that not a
gun will be fired in war between the
/ United States and Spain. 1t is difficult to
find what they base this assumption on.
but they hold it with sufficient tenacity to
decline to sell out their holdings in Sc
curities and they buy additional securities
at a material decline. These buyers were
in the market at the opening today and
they sustained prices above the London
parity, thus inviting sales from arbitrage
houses and account OF many thousand
shares of international securities which
had been bought in London at the lower
prices ruling there.
NO HOPES OF PEACE.
The early declines in London showed a
practical abandonment of the hopes of
peace and the Spanish As both in London
and Paris dropped S15 per cent. This
weakness OF Spanish securities was
especially demoralizing on the Paris
bourse. The support accorded to Ameri-
cans in New York after the opening here
without change in sentiment in London
and also in Berlin, and later dealings
there witnessed a recovery in Americans,
though the Spanish bonds continued to
drop. This tendency continued in Lon
in the trading on the street. 1t was a
tendency that gave color to the belief in
certain circles in Wall street that Spain
is prepared TO relinQuish Cuba as a last
resort.
DECLINES THROUGHOUT.
The selling here for London account
was nevertheless sufficient to effect de-
clines all through the list. The interna-
tlonal stocks led in the trading and near
ly all showed declines of a point or up
wards. The bear traders were to some
extent causing a slight rally from the
lowest There was at no time any heavy
pressure of liquidation. Dealings were
slightly larger than yesterday and were
much better distributed. but the market
was still very narrow and there was no
very big movement in prices.
NO LACK OF MONEY.
Operation in the money market con-
tinueS very restricted, though there is no
apparent lack of money for call loans on
the stock exchange loans being made at
per cent. The tone of the exchange mar
ket was rather firmer and there is no
important engagements of gold for i'm
port. Holders of money are inclined to
await the decision of the government as
to a. bond issue.
The market for railroad bonds continued
Semi-Sta gnant and prices generally de-
clined. Total sales, $S25. 0OO
u. S. new As declined p and the SIS
coupon Il per cent in the bid price today.
Others were unchanged.
MONEY MARKET.
Money on call steady at 2GS per cent: !
last loan 2 per cent. Prime mercantile !
paper, 51kG6 per cent. Sterling exchange /
with actual business in bankers |
bills at 4SS14@4. SS1h for demand and at |
4. 7924d4.S0 for 50 days. Posted rates. 4.s01a |
G4S1 and 4.S4Q4S415. Commercial bills, !
40 4.701A-
Silver certificates. 56d561s. Bar silver. |
SO. Mexican dollars. 451.
Government bonds weak: state bonds !
dull. railway bonds weak.
SALES OF STOCKS.
Today's sales of stocks 1S4. 500 shares, in
GLIDING: Burlington, DISCO; L. &, N, ), 800; |!
500; Metropolitan, $500; n. |
Y. Central. $500; Northern Pacific, 5000; |
Northern Pacific preferred, IL 600; Rock /
Island, $500: St Paul, 20 400; Union |
Pacific preferred. 1921; L. P D. & c. |
Il. eco; Tobacco, $500: Sugar. 1880.
BONDS.
U. S. n. As, reg. .11714 Do. IS ...-..... 5Sss |