The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-10
Bulls and Bears Alternately Maneu-
yer Stock Prices.
THE CUBAN SITUATION
HAD a BEARIsR TENDENCY ON
TIE MAREET.
Declines, However, Brought Out
Good Buying, and a Decided Vol
ume of Business Is the Result
Reports Of Large Loans For a
Year at So Per Cent.

New York. Feb. 9.-The most notable
feature of the stock market today was
the strong rally in the last 10 minutes
of trading. After o'clock the bears
started u raid. apparently with an ag-
gressive determination TO shake out
weakly marsined holdings and 10 reach
! stop-iOSs Oruers. They seemed to be sue
ceedins admirably in IOrcing down
/ prices, declines ranging from 1 to : points
All through the list, but the appearance
OF support 81 The low level Started d
covering movement which became u rush.
tuG the clOSinS Was very much ike Il
rout Of the bears. Substantial stays We're
scored very generally, anu III Il large
number OF cases early declines were en-
] TREY wiped Out.
UP AND DOWN.
/ The market was up and down all day.
I the opening showing numerous signs OF
neaV-ness IN spite Of = higher range Of
prices reDorteu from London. The bulls
promptly onered support and raiiied the
market, ho!dlng their advantage up TO
noon, when 4 tendency 10 reaiIzc sent the
prices downward again. The Cuban stu
atom discouraged aggressive tactics on
the part OF the buns, the professional
traders being disposed 10 reanZe all day.
There was some decided volume OF bust
ness also an aTter-faiung-off in the out
side interest. Declines, however. brought
out good buying. Union Pacific securi
ties were all quite strong, the advance
apparently being due 10 a belief that the
reorganization had concluded TO secure
the Kansas division even at the govern
ment ; terms. Great Northern preferred
was conspicuous for reaction Of nearly
toCr points from its recent remarkable
advance.
Money continued TO rule below IL per
cent for call loans and there were reports
of large loans for q year at 3Is per cent.
The withdrawal of the 10 per cent install
ment OF the government deposit OF Union
Pacific payment was rejected on the
credit balance at the clearing mouse Tor
the sub-treasury of $62S 100. The sub
treasury mas been having a daily debit
balance al the clearing house of s600. coo
or upwards for some time past. The pie
thora OF money was not appreciably re-
heved by the operation.
Bonds showed q reactiOnary tendency
in sympathy with stocks. but prices for
bones Tor the most part held firm. Total
sales. A.23J.O00.
United States old tours coupon and the
new flves registered were Is lower bid.
MONEY MARKET.
Money on CALL easy, lAG11s per cent;
last loan. IL per cent. Prime mercantile
with actual business in bankers bills at
Si.s5laG4S5A for demand and at $i.S31sQ
4S3i. for % days. Posted rates, $4.S4Q
4S6l2. Commercial bills. SiS212.
Silver certificates, 561zG5712. Bar silver.
SOS. Mexican dollars =5A.
Government bonds, weak: state bonds,
dull; railroad bonds. firm.
SALES OF STOCKS.
Total sales of stocks today were S56, 200
shares, including Atchison preferred. TO-
80; c. 6 O., 3.03f; c. b. & @, ., GIG; Den
Yer * Rio Grande preferred. $3.50; Erie
preferred, 600 L. & n. $50; Manhattan,
%. go: Metropolitan Street Railway, p, $50;
Michigan Central. 3.154; Reading pre-
ferred, S,l5O; N. X. & T, 1905: New York
Central. II 800; Northern Pacific, $50; do.
Preferred 90el. Rock Island 1926 st.
Paul. 15.420: Union Pacific. 1880: Tobacco, |
700; Chicago * Great Western. 5420; PeO- /
pies Gas, 1916: Consolidated Gas. 4,730;
General Electric 1900: Sugar, q, 49,.