The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-29
Bulls Moderately Successful In SuS-
tanning Prices.
M'KINLEY'S GOLD SPEECH
ITS EFFECT IN LONDON AND
WALL STREET MARKETS.
Prices Closed Generally at Lowest
observation-disclosures Factor In
the Decline-Exchange Hardened
a Fraction-Heavy Business In
Bond Market.

New York, Jan. 2s.-Today's stock mar
ket showed signs of a struggle by the
bulls to sustain prices while they were
taking their profits. They were mod
erately successful and sold large blocks
of stock which have been recent specula-
tive favorites without producing any
marked decline elsewhere in the list.
Northern Pacific preferred showed net
gain for today, but the declines were not
insufficient 10 uncover any large num-
Der of stop-loss orders. The sharp gains
in special stocks at different times during
the day were evidently due to manipula-
ton for the purpose of sustaining the gen.
eral market This together with the
higher range of prices reported from Lon
don this morning, kept stocks well above
last nights level during the early part
of the day, but the closing showed an
easy tone with prices generally at the
lowest. New York Central was con-
spicuous under realizing pressure after
the opening and closed IL lower than the
days high point. Kansas q Texas pre-
ferred showed an extreme decline of 1%,
and Rock Island of a full point.
GRANGER GROUP.
Heaviness of the granger group was an
other factor in the decline. London was a
heavy seller, especially of New York Cen
trail This added to the heavy tone to
quite a marked extent Still another
factor on the side of the reactionists was
the weakness in the anthracite group. de-
clines in some of its members reaching a
point. The local New York group added
of the bulls. The sudden spurts of
strength shown by Northwest. Louisville,
Denver preferred and few other stocks,
proved unavailing to counteract the gen.
eral low tendency.
Exchange hardened a fraction for de-
mand in response to London continued
selling of stocks here. The announcement
of the withdrawal of 100000 in gold from
the Bank of England for shipment to the
United States was without any effect
here.
MKINLEY SPEECH A FACTOR.
Reports from London during the earlier
dealings here showed prices for Ameri-
cans higher and active the speech of the
the cause. The anticipation of this speech
has been used for several days by the
bulls in Wall street and the realizing to-
day after the delivery was in accordance
with the practice of professional traders.
Business in the bond market continued
on heavy scale, and prices generally are
higher There were single transactions in
par value of $4,000 and $4,000 of the
Union Pacific purchase certificates; Sl25.-
600 of Atchison adjustment As and of $780,
600 of Erie As. Total sales, SS.500O0O
L. S. As registered. q higher; new Il
higher bid. and old As coupon and the 5s
Is higher.
CALL MONEY.
Money on call easy, 11kd1s4 per cent:
last loan, IL per cent. Price mercantile
paper, Sa3$4 per cent. Sterling exchange.
firm with actual business in bankers bills
at 4.S4ss for demand and 4S21zd4. S2&4 for
60 days. Posted rates, 4.S31s44S512 and 4.S5
Commercial bills, 4.S1hG4S2.
Silver certificates, 5612d575s. Bar silver,
56Ss. Mexican dollars, -.
Government bonds. strong. State bonds
dull. Railroad bonds, strong.
SALES OF STOCKS.
The total sales OF stocks today were
47S.900 shares, including Atchison pre-
ferred. 14.O19; c. b. & O., 1926: c. C. c.
& st. l.. 1881: Denver & Rio Grande pre-
ferred, 3, 10: Erie preferred, 4,07S; L. & N.
L. 1872: Manhattan. 1920: Reading pre-
ferred. $3.50: Missouri Pacific. 1870; NJ X
& T. preferred. 1850; New York Central.
3536S: Northern Pacific. 25.345; Northern
Pacific preferred, 1881 Rock Island 30
SOS: St Paul. 1850; St. Paul & Omaha.
:, $50; Southern preferred, 1904: Union Pa
cific, 29.5H; Tobacco. 5.215; Chicago Great
Western. 1900; Peoples Gas. 0OO5: Gen
eral Electric, 1924; Sugar, q. 6S7; Western
Union, $780,