The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-05

New York. Feb. 4.-The remarkable
buoyaney of few special stocks lifted
today's stock market out of a slough
of depression and closed the day with net
gains. although thare were a few losses
in exceptional cases. Net changes We're
small in the general list but the gains in
the little group of leaders were eXtraor-
binary. Erie stocks showed the effect of
some unusual demand at the opening of
the market and the first preferred ended
with a gain of over two points. Concealed
in some way was the movement of Sus-
quehannah & Western. which gained in
force as the day advanced. The preferred
showed gain of four points on the last
transactions. the common stock of ga.
There was nothing in the news OF the
day TO explain these movements.
VANDERBILTS.
The Vanderbilt stocks held the center
of the stage on account of the action of
the New York Central directors in au-
thorizing an issue of 100000 collateral 3i2
per cent bonds TO effect a consolidation
with the Lake Shore The formulated
plan closely agrees with the announce
msnts which have been made. a quota
ton for the new bonds when issued was
promptly established on the exchange, 95
being bid and 81 asked.
The price of Lake Shore and of New
York Central WaVered somewhat in the
face of the profit-taking on the announce
But Michigan Central bounded up bOuy-
antly over four points on the belief that
it would ultimately be included in the
consolidation in progress. Canada
over a point Norfolk & Western is up
about two points. and was bought largely
in this market today for London account.
This stock was affected by the reported
authority granted to il TO construct
branch through Virginia to Washington.
and by the general improvement in its
financial condition.
GREAT NORTHERN.
Great Northern preferred advanced an
additional point this morning. but re-
acted then two points TO LEO, and at the
close quoted 155 bid and 1.95 asked. Mani
tOba- the subsidiary company. jumped 3
points to lbs The late strength of the
market brought number of gains in the
general list up to about a point and re-
duced or wiped out declines in a number
of stocks that had shown early heaviness.
notably Manhattan, Baltimore & Ohio.
and Union Pacific preferred. \ feature
of the day was the continued advance in
foreign exchange based on the easy tone
of the money market.
There was no very noticeable falling OFF
III the activity OF the bond market. No
very important gains were shown. but
prices were firmly held. Total sales.
So. go. 600
MONEY MARKET.
Money on call easy, at 1IAa1s4 per cent;
last loan, IL per cent; prime mercantile
paper. 3G4 per cent; sterling exchange.
firm with actual business in bankers
bills at 4.S5lsn4s5A for demand. and at
S3iS for 60 days. Posted rates, 4.S3l2lI
4.S6; commercial bills. 4.S2dfS2I2.
Silver certificates. 56as 57la. Bar silver,
56Ih. Mexican dollars. 45L-
Government bonds. firm; state bonds,
dull; railroad bonds. firm.
SALES OF STOCKS.
Total sales of stocks today 2s4. 200 shares
Baltimore < Ohio. 93l5: Cana
dian Pacific 1925; c. & o., $3.50; Burling-
ton 1855; D. & r. @. preferred. 1915; Erie
preferred 10. S31; Lake Shore. 3.141: L. &
n. :. 800: Manhattan. L. se2; Michigan Cen
trail SAT-: Reading preferred. $3.50; Mis-
souri, Pacific. $3.50; New York Central,
A. i50 Northern Pacific. 51.106; Northern
Pacific preferred. p 435: Rock Island,
!. 3gT: St Paul. 3.4S1: Union Pacific 20 335;
1850; General Electric. 1910;
Pacific Mail, $3.50; Sugar. 1856; Western
Union 6,30S.