The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-16

New York June 15.-Speculative observ-
ers who argued that the two days reaction
on the market has been que to the appre-
hension of the effects of liquidation conse-
quent upon the collapse of the wheat deal
were disappointed today. The pressure
upon the market from that source was
practically removed by the announcement
that the enormous holdings of cash wheat
owned by the defeated wheat spectators
had been taken over by powerful financial
interests who have been able to save II
from being sacrificed a forced sale. i ne
course of the wheat market very plainly
indicated the termination of the crisis,
but there was no movement 10 ADVANCE
prices of stocks Apparently the leaders
of speculation have arrived at mutual
consent TO let the market take adVant-
age of the further manipulation for rise
The course of prices was consequently
downward in a rather dull market EX-
IRENE gains Of d point or over were regis
tered in most of the active stocks during
the day. Sugar was the center of interest
and dropped perSiStently to the last, CLOS
ing only q above the lowest, at a net de-
cline of over 4 points. The expectation or
a favorable vote on the Hawaiian an
nexation bill was the motive assigned for
the selling. The stock was traded IN
ex-dlV. The embarkation of the army
for Cuba added TO the possibilities of a
setback in the campaign, which would
also hurt the stock market if it were TO
occur This and the approach of the
critical period for the crops served to
speculation. Fears of tighter money as a
result OF the bond issue were also ad-
yanced by the bears. But it is probable
that the banks and large tinanciers would
have in hand the funds which tney eX-
pect to put into the new bonds 1t is
evident that the banks and capitalists are
preparing to take all of these bonds they
can get, that is. all that are left after
the small subscriptions are allotted If
they get what they expect of the bonds
they secure will be used for circulation
and thus supply the money market. If
the popular subscriptions are larger than
expected the funds accumulated by bank
ers and capitalists to buy the bonds will
be released to the money market
Railroad bonds were heavy in sympathy
with stocks. Total sales. 81 100000.
L. S. As old coupon advanced 1ss and
L. S. As reg. 3. in the bid price. There
were sales of the new As coupon at an
advance OF is and of the IS coupon at an
advance of Is over the preceding sales:
Total sales Of stocks today, S6l, 400
shares, including: 1860 Atchison pre-
ferrad 3I75 c. & O., 30,341 c. B. & O., So
$50 c. c. C. & St. L., $3.50 l.. & N, II. AS
Manhattan. 4.445 Metropolitan. 4,4l5
Hawaiian Sugar. $50 Missouri Pacific,
sol N Y. C. $50 Northern Pacific, Is
90 Northern Pacific preferred. 1880 St.
Paul 81 $50 Union Pacific preferred, 13,720
Tobacco. 1880 Chicago G. w, H15O Peo-
pies Gas; 1880 Sugar.
LOANS AND EXCHANGES.
Money on call steady, 1Ad115 per cent;
last loan IL per cent. Prime mercantile
paper 3d4 per cent. Sterling exchange
easier with actual business in bankers
bills at 4S5di.S5i. for demand and at
4S3a4@4S4 for 60 days Posted rates. Ass
GAS5la and 4.SGizd4.S7; commercial bills,
4.S2lL6AS3.
Silver certificates 5SG5Ss4. Bar silver,
5S1z Mexican dollars. 45A.