The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-09-21
WALL STREET PUZZLE
Money Rates Go Up and Prices Go
Down.
GOLD IMPORTS ARE SLOW
EXPECTED MOVEMENT FROM
EUROPE DOES NOT COME.
The Small Amount Imported Is Sent
In Exchange For Silver-can Loan
Rates Yesterday Advanced to 6
Per Cent and Stocks Dropped Still
Lower .e-

Per Cent and Stocks Dropped Still
Lower. .-
New York. Sept 2e-The stock market
today presented all the chara cteristics of
genuine reaction. Last week s sharp re-
coVery eliminated the short interests very
largely and the forced liquidation for
profits had been mostly completed during
the previous decline. The market was
thus freed to a great extent from techni-
cal influence ana in condition TO respond
TO the prospects for general business IN
the country. Its failure TO do so yes
terday was attributed to the unsettling
influence of the slump in sugar. The
bears were tinaid about continuing their
campaign further against sugar and were
inclined 10 cover. 50 that this lniluence
toward reaction was removed. Neverthe-
less, the market dropped heavily toward
a lower basis with one or two exceptions
IN the list and closed only barely steady
at a level generally per cent or more
beisE last nights level The action OF
the market was not different in character
from that which prevails at time Hnen
the business outlook presents general dis
courasements. contraction OF ACTIVITY or
declining profits. The demand Tor stocks
was very small ali day and prices went
down easily under comparatively !lsbt OF
ferings. Weakness was particularly
manifest in Tobacco, the grangers and
Pacifics. The action of these stocks in
dicated the liquidation of heavy indi-
viduaI speculation on the long side.
The sharpest break in the market was
to 6 per cent. This furry in the money
market was a disappointment to the bull
operators, especially in view of the en-
gagcment of over s200e,0J5 in gold for
import and the mailing from the treasury
department yesterday Of checks for in
terest on registered PEI. cent bonds due
Oct /. amounting TO S4.Sl0890. which are
payable Immediately The sab-treashry's
debit balance at the clearing house also
ran up today TO S1261. ASS, rejecting a
large increase in government expendi-
lures The sluggishness of the gold move
ment is somewhat remarkable in lace of
conditions Call money IN London IS u
per cent against per cent here today.
London discount is - TO rs. against
per cent here. Last months trade bal
ance in this country favor was so, 900,
on top of the favorable balance for every
month in the preceding year. In addition
London has recently bought securities in
It is a fact that part of today's gold
engagements Were made by bullion dealers
here. who are shipping silver In response
to the active demand attributed to Span
ism account. There is not sufficient de-
mand for the exchange against the silver
shipment to make a market and there Is
a better profit in importing gold. Ex-
ch9nge is thus clearly demonstrated TO be
at the gold import point and the question
arises what has been done with the coun-
try'S credits abroad that they do not bring
q larger gold movement. The immediate
future Of the local money market is, how
ever. clearly toward greater ease
Dealings in bonds were not on a large
scale today and prices We're toward a
lower level Total sales. 81 $40. 10.
United States Is, old and new, were u
lower in the bid price today.
The total sales of stocks today were
49,, 10e shares. including 4.0S5 Atehisen pre-
ferred, l4.725 c. b. & O., e.355 Manhattan,
4S325 Northern Pacific. H.141 Northern
Pacific preferred, 17.275 Rock Island. 1885
Union Pacific. Is $50 St s., Paul Pa 81 900 Union
g. w. 11.Sie Peoples Gas. .3-2S9 General
Electric. 1880 Sugar. 1888 Leather pre-
BOND QUOTATIONS.
Z. S. SIS 49,. 1864 n J: c. SIS. .1151a
L. S. n. Is, reg. 12714 n. Y. c. & st.
Dc; coup .l2714 L. As -; .1o612
L. S. As ........11914 Nor. & w. Is. .l23
Do. coup ....11l12' n west. cons. .-1425s
Do. DDS -...... 80 Do. deb. 5s.. lis
L. S. IS reg. ...Il21s o. Nav. 1sts....115
Do. IS coup. .11212 o. Nay. As 9S1a
District 3 65s. ..lll 20. S. L. 6s, I. r.127l2
Atchison As 94$l O. S l.. IS, I. r.106
Do. adj. IS -. T1as rae. 6s of '95.. 1929
Can So IDS .--1oS12 Reading As --.--- 1874
Chi. Term. As Ss1z Z. G. w. lists. SO
{. &, Ohio 5s lib st. L. & Iron
&c. II. & D. 411s. 1915 NJ. Con. IS =. 1872
b. K r q. 1sts.1101z st. L. & San F.
u. d r. q. As. sc Gen. Is $500. 1l9$<
East Tenn lsts.1055s St. Paul Con. ..152
Erie Gen. As - Y st. Paul c. &
r. w az ID. lists, p. lists ....-...119
/ r.. ....... 745s So. Ry. 5s -. g7A
Gen. Elec. IS. .1O4i2 Standard r. &
q. H. q S. a. Is. 1O5 Irvine 6s -. 79
Do. DDS Hos Tenn. n. set SIS. SO
II. 4 r. c. IS. .iiOlA Tex. Pac. L. G.
lT va So4 i5os Re-. Ids. 81
L. & y. Uni. Is. S9i2 Union Pac. As. 49,
NJ. X. & I. IDS. 81 U. p d. & G.
n. =. Cent. ists.liS ia wsb alb list 5s.... rs us
No. Pac- lsts.---1l2% Do. 2dS 1880. S91e
Do. IS 66%l Wis. Cent. lists. 55A
Do. IS .........10l
NEW YORK CLOSING STOCKS.
Atchlson o.. 49,. l27s st. p & Om. S0h
Preferred .--... 343s Preferred ......l59
Bait. az Ohio ass SO. rae. ....--... 225s
% g.af IHrraax
can. South. 49,. 5214 Preferred -....- 1874
Cent Pac. 2314 Tex. u Pac. -. 1874
Ches. a. Ohio. pa Union Pac 49,. 3l;s
Chi. * Alton .--l56 Preferred ...... cas-
CnI. u. * Q.....ll4A L. p d. x g..
Chi. d T. H.. 5414 Wabash E. .....
Preferred ......1G5 Preferred 49,. 2I5s
c. Z. &. q St. l.. 4US4 " heel. * l.. Il. 25g
Preferred ...-.. 81 Preferred 49,. I73s
Del. & Hudson 100 Adams Elk .....1I4
Del. /. ~ N...-l4y American EX. ..lSj
d x X. c. 49,. II United States e. IL
Preferred .....- 5952 Wells Fargo ....i2O
Erie lneW)--..--- 131s a Cot On $50. 81
1sJ preferred. 3612 Preferred 49,. 81
IT. Wayne -.---ll Amin Spirits -. III.
CT. Nor. pref d. -lS4 Preferred .-.... 351a
Hooking Val. 5A Am. Tobacco ..f49s4
illinois Cent .--lll%4 Preferred ......I30
Lake Erie az w. Il Peoples Gas .lgsik
Preferred 49, f312 Cons. Gas .-....ll9
Lake Shore .-..lS2@4 Com. Cable Co.. 60
Louis. q Nash. 5e14 Cot f. * Iron. q
Manhattan l.. e. S6%4 Preferred ...... 80
Met st. ....155 Gen. Electric -. AS
Mich Cent Its Illinois Steel 80 7eA
MINI. * 81. L.. q Laclede Gas -. 4s
LIST preferred S9l2 Lead .......... "a
Mo. Pac. ......- SS'4 Preferred ..-...1lo12
Mob. &, Ohio. Zt1s Nat. Lin. Oil %
sIo X * t.. ul4 Aaw. Com. Co.. 2S54
Preferred ...... 3lA Pac. Mail 800. IS
Chi. Ind. * L.. Pullman Pal. -.1S7
Preferred 49,. 80 Silver cert. 800. 81
n. J. Cent. 80. 92A Standard r. d
n. y. Cent ...1l34 irvine =. ...... IA
n. Y. Chi. * ST. Sugar .. 1884
l.. $3.50. l2$z Preferred ...-.-109
LIST preferred. S. II. c. az Iron.. 2S5s
End preferred. 81 IT, 5. Leather. 6ss
Nor. West .....- IA Preferred .10334
No. Amer. Co.. 6Ss L. 5. Rubber. 44J5
Ne. Pac. $500 49'5s Preferred 49,. 673s
Preferred 80. 7P12 c. & n. W.. I3G3s
Ontario d W.. 1875 Preferred I75
ore. r. q Nav. 50 st. L. s. W.. AZ
Q. s. l.. ..-..-.. 30 Preferred $500. II5h
Pittsburg ........169 Il. G. w. $3.50. q
Reading 1876 Preferred ...... 90
list preferred. 444 =. L. q Co. -. 50
Rock Island -lol2s {. 9. ". ....... l5A
ST. L. AZ 5. F.. rs Minn- Iron 49,. 81
LIST preferred. 65 Pac. Coast lists
End preferred. SlS4 preferred -..... So
St Paul .....I0Ss4 md preferred. 671k
Preferred ......l56 Init. Paper Co.. 534
St p. NJ. q 81. .l65 Preferred ...... IS
NEW YORK MINING STOCKS 49,
Chollar =. 49,. Is Ontario =. ....... 50
Crown Point u Ophlr As
Con. Cal. * Va. 60 Plymouth =. -. u
Deadwood - - 80 Quicksilver ....1 p
Gould K CuFrie. 20 Preferred go. so
Hale q -Noreross 75'Sierra Nevada. %
Honsestake 40 90 Standard - 49,. 90
Iron Silver % Union Con. IS
Mexican - -. 20 Yellow Jacket is
SAN FRANCISCO MINING STOCKS.
San FRANCISCO, Sept 2O.-The official
closing quotations for mining stocks to-