The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-11
Sales Were Enormous and Prices
Went Soaring.
SHORTS WERE BUYERS
LONDON ADVANCED IN SYM
PATTY WITH WALL STREET.
General Upward Movement During
the Entire Week-Bank Statement
Indicates Favorable Financial
Conditions-No Prospect of High
Money Rates-Week's Changes.

New York. Dec. 10.-The stock market
was booming today on enormous trans
actions for the shorts, and soon MANY
high-record prices were exceeded for the
current upward movement. London fol-
lowed Americas upward lead Of yester-
day. and was buoyant on St. Paurs eX-
cellent statement for The first week IN
December. Large interests We're AGAIN
aggressive buyers Locally ana hao quite
a. following OF commission house support.
Immense blocks of stocks exchanged
hands, with abundant purchasing orders
TO care for realizing sales. After hesl-
tating movement, activity and strength
became general again and standard
stocks We're well maintained.
All the gran gers advanced from a slight
fraction 10 over a point the latter in
st. Paul Heavy purchasing orders were
placed over night in Southern Pacific
to buy at the opening. Prominent inter-
ests in the stock endeavored to open 1t
up as high as possible and the ticker re-
corded simultaneously sales Of $500 shares
from q down TO A. YESTERDAY. elosln ne
feature after the first furry but continued
to be actively traded in and closed well
up 10 the TOD.
Among the irdustrials General Electric,
Sugar, Tobacco, Rubber, Federai Steel
preferred and Edison Illuminating were
the features and gained point or more;
The rise in Edison Illuminating amounted
TO points and 3 e3ch N General Electric
and Rubber preferred.
The AtchiSoas, too, were coT.sFicuousiy
strong. The market closed ct the best.
with a whiri of hGlish enthusiasm.
For the week stocks almost without eX-
.Seption rose, IN SOHO cases -fe gains pc
Ing very large, establishing new high
records IL The present movement, The
( manipulation OF Sigh-price specialties for
a rise was often much IN evidence.
Early III the week telegraph and cable
communication, partly interrupted by the
storm, somewhat restricted business,
though the volume later. became enorm-
Gus. Iraoers Interpreted the pres.oent $
message as not being q bull argument,
but its better reception abroad thwarted
their efforts ut depressing prices. There
was much N the general situation having
g favorable bearing on market conditions,
November gross earnings were in excess
OF I per cent over last year. Exports, too
surpassed the phenomenal record of last
year, ana bank clearlngS were next 10
record figures. Then, TOO, that So-called
barometer of business conditions. the
iron and steel trade, was active at adj
The monetary situation continued easy
and there was little TO the market To-
bacco and Sugar were boosted consider
ably, one stock serving as Wei as another
for the purpose. Metropolitan's increase
in dividend rate to per cent was accom-
panied by another high record for that
Speciality. Missouri Pacific received sup
port on the announcement that its float
ing Indebtedness had been paid of.
The bond market displayed unusual
activity during the week with the con-
centration of the dealings in speculative
and middle grade issues. Considerable
strength was manifested throughout, with
cases. United States old IS registered
advanced =, the Is registered and the old
As coupon Z, new IS Is in the bid price.
The total sales of stocks today were
400, 200 shares. including 1926 Atchison;
g, SEA Atchison preferred, 1866 Burling-
ton, II. $50 L. & N. 7,445 Manhattan, 6S5c
Net o Ri Rg f faec aS s5 n p K
preferred, 6,7S6 Northern Pacific, 3125
Northern Pacific preferred, l9,445 Rock
cific nreferred "a an ST PAIL II, ,51 no
bacco, *, 725 Federal Steel preferred, 4. 3S5
Peoples Gas, 5.229 General Electric. SOP
Pacific Mail, 30, 425 Sugar, 7425 Leather
Union.