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

New York. Feb. 1.-The stock market
today had a load of liquidation to carry
still heavier than yesterday. and there
were fewer prominent stocks to exercise
sustaining force by their strength. The
heavy offerings were well absorbed and
net declines are for the most part con-
fined TO fractions, but are general For a
time after the opening there seemed to
be no diminution from yesterdays ac-
tivity. There had been apparently a large
accumulation Of outside market orders
over night, and London was also buyer
of stock This demand was satisfied,
| however, without any advance in prices,
| the offerings being very large Later,
prices began TO yield under the weight of
continued offerings, but the pressure was
not great ana the market fell into dull
ness. holders apparently being content
UNION PACIFIC.
The rallies were helped by the continu-
ing strength of a number OF stocks, es-
Decially Union Pacific. and all its secur-
tiles. The strength of these was held dur
ing the day ana Union Pacific closed at
the highest, at the net advance of over
a point Western Union and General
the order of the day was Drofit-taking.
and this tendency extended even to
Northern Pacific preferred. upon which
there was a quarterly dividend of l per
bought some stocks early in this market.
but sold more later. which probably had
an influence in giving somewhat higher
tone to the market 1t is to be noted. how
ever. that apart from the cash from the
interior. which is being received in New
York a large amount is due 10 remit
tances on account of the Australian gold
received at San Francisco to the order OF
New York houses. The rates for call
loans worked 10 a lower basis in spite of
the withdrawal of the second 10 per cent
installment of the governments deposits
of the Union Pacific payment. This with
drawal was called for tomorrow, but most
of it was made today.
In the bond market the Kansas Pacific
cOnsOlS were the most conspicuous figure.
with an advance of S3s per cent, 10 us.
Other bonds of the Kansas Pacific ad-
vanced l to 3 points on the belief that
they would be included in the Union Pa
cific reorganization with or without ar
rangement with the government. The
bond market generally showed a contin-
uanee OF ACTIVITY and prices continued to
advance Total sales, 6l4O.eoO.
United States IS advanced Il bid, the
coupons ex-dividend.
MONEY MARKET.
Money on call easy at 11kG14 per cent;
last loan, ia per cent. Prime mercantile
paper. 3d4 per cent. Sterling exchange.
firm, with actual business in bankers
bills at 4.S4zi for demand and at 81 S2iz1
81 S2%s for so days. Posted rates, $3.50
g. sSis and a-S5ls4Si. Co. Commercial bills.
A.S2.
Silver certificates. 564G57A. Bar silver,
562s Mexican dollars. 4514
Government bonds strong, state bonds
dull, railroad bonds strong.
SALES OF STOCKS.
Total sales of stocks today, 4O1. 80
shares. including: Atchison preferred,
Is. 10; b. & o., II, els; Burlington 9.76S; L.
& N. 130l6; Manhattan. SO. 93S; MetrODOl-
itan Street Railway. 5.0g5: Missouri Pa
cific $685. NJ. X & T.. preferred. 5.65;
New York Central. 15.17O; Northern Pa
cifc 1925; Northern Pacific preferred
30, "a; Reading. 1870; Rock Island, 10625;
ST Panl II lnS. ILninn Pacific 50 Q9l. To