The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-11
Yesterdays Stock Dealings Showed
Further Depression.
SPECULATION IS TIMID
DISPOSITION TO WAIT UNTIL
CONDITIONS SETTLE.
Bears Held the Field During Most Of
the Day-Continued Influx of Gold
Fails to Have Any Effect In .SuS-
tanning the Market-Bonds Weak,
Speculative Issues Leading.

New York. March 10.-Today's stock
market showed a further contraction in
the volume of dealings and an apathetic
tone to the trading which indicated the
prevailing. disposition to refrain from
speculative activity until conditions be-
come more settled.
There is continued uneasiness regard
ing the Cuban situation which finds its
reelection in the large offerings of Sc
curities on any substantial advance. 1t
is the evident belief also that the present
conditions. so far as they are known,
90 not warrant a further violent decline
in prices. Thera was a strenuous attempt
in the early dealings today TO mark up
prices with the purpose OF pinchinS small
bear traders and also for the purpose of
realizing at the higher level. This
maneuve-, which proved so successful
abundant offerings that it was soon
abandoned.
BEARS IN CONTROL.
the rest of the day. A small amount of
arbitrage huying for London account
aided in the early. resistance to the de-
cline and the strength of special stocks
tended TO the same end. The unsettled
and uneasy tone on foreign exchanges, es-
pecially the weakness of Spanish is in
London and Paris helped materially to
defeat the efforts to advance prices. The
continued influx of gold failed to have
any effect in sustaining the market.
Neither did it save the foreign exchange
market from falling an additional frac-
ton.
CALL MONEY AND LOANS
There was perceptibly easier tone
in the rates for call money and loans at
the close were made at y per cent. Lend
ers are still loath to make time loans. A
large part of today's selling was at
tributed TO Washington There is no
ha oil
channels for Washington selling for the
sake of effect and they accompanied ii
today by the circulation of sensational
rumors regarding developments in the
Cuban situation.
SENSITIVE MARKET
Because of last weeks Washington SELL
ing previous to the publication of the
news of Consul General Lees requested
recall the market is extremely sensitive
to any demonstration from that quarter.
Today s. net declines are about point
or over all through the list and effectually
wipe out the disturbance of yesterday and
the day before.
Bonds were weak throughout the day
in sympathy with stocks. the speculative
issues leading the decline. Total sales.
81, 665. 600 United States new As and As
coupon advanced Y and the 5s u.
MONEY MARKET.
Close: Money on call easy. 1G1k per
cent; last loan, per cent. Prime mer-
camille paper, 4G4l2 per cent. Sterling eX-
change weak with actual business in
bankers bills at 1884 for demand and at
4S0s4q4.S1 for GO days. Posted rates. 4.S2
ass and 4S5q4S5H. Commercial bills,
4. S06i4 soy.
Silver certificates 54hG55. Bar silver,
54A. Mexican dollars, 44sI.
SALES OF STOCKS.
The total sales of stocks today were
2SS. 400 shares including Burlington. &c, 275;
L. q N, 1858; Manhattan, L, 265: Metro
politan, 1880: Missouri Pacific. 4937: New
York Central, 6257; Northern Pacific. $40;
Northern Pacific preferred. 15.OS2; Rock
Island, sos; St. Paul. 25.775: Union Pa
cific, 400; Tobacco. s., $3.50; Peoples Gas.
s.675; General Electric. S.195: Sugar, 1895.