The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-17
GOOD TINE TO BUY
Low Prices Induced Heavy Pur-
chases of Stocks.
DECLINE WAS CHECKED
EARLY LOSSES ALMOST ENTIRE
TX. WIPED OUT.
Market Opened Weak and Values
struck a Low Mark Before the
Buying Movement Set In-Peace
Developments at Paris Affected
the London Markets.

New York. Nov. -16.-Apparently the
watchers who have been waiting for re
action in the market to buy stocks made
up their minds that this morning ue
cline was the most that could be looF 20
for under the circumstances, ana they
accordingly came into the market IN
great forcesand before the end OF the gay
Rad wined sotlt the earlier losses almost
entirely and established a higher range
of values than yesterday throughout, Al
though net gains are in nearly. all eases
con15ned to fractions, the extreme l .io
from the low point in the majority OF ac-
tive stocks amounted TO l per cent OF
over and the closing was active ana quite
strong at the top.
Morning losses were not made without
resistance, notably by Atchison preferred,
the Union Pacifics and some OF the spec
ialties. Chicago y Northwestern ana
Omaha also showed strength before tn ne
break but the very heavy. offerings VI
The Northern Pacific stocks proved TOO
heavy q burden for the market to carry,
especiallv as London was disposed TO re
alize in the International secuTlt1es.
Nnrthern Pacific fell over a point. below
last NIGHT and the whole list receded De
low last nights. level. There was some
stop-loss orders uncovered on tHe elss ~
down. but orders in commission houses 10
INV were encountered in an increasing
amoint and the sharp advance in tine
Northern stocks and Omaha, ranging
from l% to 3s4. turned the whole market
upward. :
not entirely uninterrupted, but the
ma rISed strength of International Paper,
Sugar. Pacific Mail, 8. & y. and rev
other stocks and the enormous demand
for Atchison preferred kept the bun spirit
in the ascendant and discouraged opera
lions on the short side. The selling for
London account also changed to BUYING
demand at the lower level. They were
for the most part simply arbitrage oper-
ations. based on the disparity between
London and New York prices.
The session of the Paris peace CONFER
ence and the fixing of a date for a future
n7eeting offered some relief from the ap-
n1lahensions of a rupture which have pre-
vailed in London. The fact OF the BerLI
exchange being closed served TO chech
recent large selling of American secur-
tiles which has come from tnat Qudltel
on account of the money stringency..
There was a falling off in activity III
the bond market and heaViness IN sym
pathy with stocks, though the tone IN
proved before the close. LouisVile
R Rivsnsville & St. Louis consols trust re-
ceiDts rose points over yesterday a1lo
a Doints over Monday. Total sales. 81
375. coo. United States new IS coupon oe-
clined 4 in the bid price.
$50. 100 shares. including: Atchison, i. a10
Atchison preferred, $500; b: q o.. 1910
Burlington, il. S45; D. & R. G. preferrTGesdd
2. $50: E. & n, 2t,9S5; Manhattan, 7.0g0
Missouri Pacific, 15,175; Northern FACING
50 $50; Northern Pacific preferred % S ~
Tnion Pacific, 1860 Union Pacific pre-
feTred 2.150; St. Paul, q, go; Southern
! Railway. 3OS5; Southern Railway pre-
| ferred g.240; American Tobacco, q, S0S
Ray State Gas, 5,G75; Federal Steel. 5'Vl?
Federal Steel preferred, 13.SS5: People
! cas- 10 900: Pacific Mail. 1881: Sugar. 50,
! Sg9; T. c. & l., $3.50; Chicago Great West
! ern 10 S21.