The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-12
Yesterdays Stocks Operations Were
Difficult of Analysis.
OUR SECURITIES ABROAD
SHARP GAINS FOR AMERICANS
IN LONDON.
Money Closed Slightly Easier-West-
ern Railroads Strong on Anticipa-
ton of Increased Trahicking For
Klondike-Coalers Depressed By
Reason of Weather.

h,
in American securities had apparently re-
covered some of their confidence in the
future of values in this country today,
after the alarm they had manifested yes
terday over our political future. Some
sharp gains were recorded for Americans
on the London exchange before the open
ing hour. In fact. the London bullishness
outran the local opening, and New York
prices responded fully to the rise in Lon
DON The market ali day was one dlfl-
cult of analysis on account OF It's uneven
ness There were points OF notable
strength and others OF marked weakness
in the list and neither was altogether et-
fective IN giving tone to the market.
Sugar was the special point OF weakness,
and the large volume of transactions in
it gave its weakness an influence on the
list. The grangers were also heavy in
the early dealings. though a subsequent
recovery brought their prices traction
above yesterdays close.
THE RAILROADS.
The coalers were centers of depression
on account of the condition of trade and
the unreasonable miidness of the weather.
On the other hand, there was very
striking activity and strength in the
Northern Pacific stocks ana Union Pa
cific- This strength seemed to extend 10
connecting railroads in the west and
northwest Thus not only Northern Pa
cific and Union Pacific rose from p to z
points, but Denver d Rio Grande pre-
ferred Union Pacific, Denver q Gulf,
Oregon Navigation, Oregon Short Line
and Oregon Improvement show gains
ranging up Il point in oregon Navigation
These stocks were strong on antlclpa-
ton of increased trafhckIng Tor klondlAe
They were helped also by the decision of
the interstate commerce commission to
continue the suspension of the long ana
short haul clause on traffic in competition
with Canadian railroads. The dealings IN
the stocks of these tranScontlnentaI lines
We're very heavy and transfers OF blocks
of several thousand shares were quite
frequent all day.
MONEY EASIER.
Money closed slightly easier, but most
of the business of the day was done at 3
per cent. In the time, however, money
market rates were 212 per cent for 60 days
and from to 3!5 per cent for three to
seven months There was an active de-
mand for commercial paper, but the sup
ply was good.
Among the notable movements of the
day were the decline of z in Baltimore &
Ohio and a rise of 2 points in the common
and preferred stock of Susouehanna &
Western.
The bond market was very active and
the higher grade issues all showed high
prices. There were several transactions
of par value of 100000. 1t was very well
distributed but the Atchison. Union Pa
cific. Texas & Pacific and Union Pacific,
Denver & Gulf issues led in point of ac-
tivity. Total sales, $4,000 United
States As registered a higher and the new
4c y bid higher.
CALL ON MONEY.
New York, Jan. I.-Money on call, easy;
actual transactions ranging from 213 TO
per cent; last loan, 212; closed bid and
asked 252@3 per cent. Prime mercantile
paper, 314d4H per cent. Sterling exchange
easier, with actual business in bankers
bills at 4S5lI4.S51s for demand. and a 1925
d4S23s for so days. Posted rates, 4.S312Q
4S6 Commercial bills, 4.S2la.
Silver certificates 57Aq5S. Bar silver,
571a. Mexican dollars, 40.
Government bonds, strong; state bonds,
dull; railroad bonds, strong.
SALES OF STOCKS.
Total sales of stocks today $50, coo
shares, including Atichson, 5.240; Burling
ton, 1911; l.. x N, 6,4S0; Manhattan q, 560;
Met. Street railway, T. $50; Hawaiian Com
mercial Co., 5535; Missouri Pacihc, 1850;
New York Central. $3.50; Northern Pa
cific, q, 256; Northern Pacific preferred,
19, 800; Rock Island. $50; st. Paul, 1880;
Union Pacific, 2l005; Union Paclnc, Den
yer & Gulf, 5000; American Tobacco, $3.50;
Chicago, Great Western, $3.50; Peoples
Gas, $500; Oregon Improvement Co., 3,625;
Sugar, 1885, T. c. q l., $3.50; Western
Union, 1923.