The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-11
Furious Activity Throughout All
Departments.
GREAT INTEREST SHOWN
RAILROADS ACTIVE AND ALL
SHOW GAINS.
High Price of the Year Reached In
Some Stocks-Strength of Market
Attributed to Settlement of Elec-
ton Notwithstanding Price
of Wheat Had No Effect.

New York, Nov. 10.-Prices surged up
ward on the stock exchange today with
what can only be adequately described as
a rush and roar 1t was a day of furl-
Gus activity throughout in all depart
ments, and the closing was at belling
point and at the best prices OF the cay.
The greatest interest and activity was
shown in the railroad securities OF all
classes, and nearly all of those which
We're traded in show at least l per cent
higher for the stock The majority show
gains of between and per cent. This
rate of increase raised TO between ana
3 per cent in the case OF Atchison pre-
ferred, Rock Island, Baltimore X ONO,
Denver & Rio Grande preferred Union
Pacific preferred 81. Paul u Omaha, chi
cago, Cincinnati Cleveland & St Louis
and some of the specialtles. The oregon
Navigation stocks, both common and pre-
ferred, show gains of per cent:
The induStrals and other specialties Tell
into the background, both relatively ana
absolutely and were almost totally neg
leeted until the later dealings. Sugar,
Brooklyn Transit and Illinois Steel stocks
then sprang into activity and scored sub
stantial advances near the close. In the
case of some stocks high recoc-d prices
were made today, and in the case of many
others the high price of the year was ap-
proXimated. AtchlSon preferred, Northern
Pacific and Union Pacific stocks reached
their record prices today.
There can be no doubt that the strength
of the market is attributed to the feeling
OF relief that the unsettling doubts and
uncertainties over the election are a thing
of the past and the confidence that the
generally prosperous condition of the
countr-r is sure to assert itself and lift
prices to a higher level. There was a
spirit of Astounding optimism abroad and
everything was ignored but the most
favorable incidents in the outlook. The
marked falling off in the export demand
for wheat and the resulting fail in prices
had no effect. The unfavorable conditions
Of the trunk line situation which caused
declines for New York Central and Penn
sylvania in London, received no attention
and the prices of those stocks We're ad-
vanced over d point. Baltimore & Ohio
rose 22s and Norfolk g. Western preferred
was at one time up 315.
REPORTS from the iron trade of a drift
towards a lower range of values, which
might ordinarily be expected to have a
marked effect on the stock market, were
passed unnoticed. st. PauPS first week s
crease of over 81 900, was much less
striking than some of that roads recent
returns which have passed unnouced, yet
there was an eager demand for all of the
| grangers, which made the group the lead
ers of the market in point of activity
! The Atchison securities held foremost
! place and all Of them advanced strongly,
| the preferred rising 23s per cent, with a
! stock issue of over $120.000 900 to move.
| Northern Pacific preferred more than re-
| deemed its quarterly dividend, and Union
| Pacific preferred was heavily bought,
| both for home and foreign accounts. Lon
! don buying was again a marked feature,
ana commission house business was on an
!, enormous scale, fairly taking away the
market out of the hands of the traders
/ and eating up all offerings to take profits
| without apDreciable check to the day S
! continued advance.
The days business in bonds holds the
record in the volume of transactions. All
| classes of mortgages were in demand, but
! the reorganization issues continued the
| favorftes. There was. however, &, gener-
| ally distributed business in high-grade
! bonds and many speculative issues were
brought forward in the movement. Total
sales, $40, 045. 900.
United States new As registered ad-
vanced Is, new as coupon 81. Is and IS
registered and IS registered Il in the bid
price.
Total sales of stocks today were S73 700
! shares, Including AtchiSon, 10000; Atchi-
son preferred 75,020: Baltimore e Ohio,
500; Canada, Southern, 4,610; Chesapeake
& Ohio, $3.50; Burlington, 23,575; Denver &
Rio Grande preferred, 1000; Louisville &
poiitan Street railway. $50; Missouri PA
ciic, 1850; New York Central 1870;
Northern Pacific, Il 220; Northern Pacific
| preferred, extra dividend, 10,420; Norfolk
| & Western Terminal 3750; Rock Island.
$500; Union Pacific. 1920. st. Paul So, l65
/ Southern railway, 3,412; Southern railway
preferred, IA AIS; Union Pacific preferred
! 1880; Wabash preferred. 1925; American
| Tobacco, Ia. $50; Bay State Gas, 1900: Fed
eral Steel. 1850; Federal Steel preferred
| $500; PEOPLES Gas, 10, 120; Colorado Fuel
& Iron, 3,675: Pacific Mail, 1866: Sugar
$500 Tennessee Coal & Iron, $3.50;
Leather preferred, 1850; Rubber, 5000
Chicago Great Western, 400