The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-14
Realizing Sales Upset the Stock
Market Yesterday.
SUGAR WENT TO PIECES
TRADE DECENTRALIZATION RE
ELECTED BY THE STOCKS.
Market Was Irregular, But Pool Buy
ing Gave Strong Support to Many
Stocks - Market Closed Heavy,
With Small Net Changes-Some
Heavy Transactions In BONDS.

y
New York, Dec. 1S-The stock market
was irregular today during the process of
digesting large realizing sales during the
current movement, the prominent rail-
ways closing at about the lowest. The
market encountered efforts on the part
of sold out bulls to depress values. and
was largely affected by the demoraliza-
ton in sugar. This stock, which was
early supported and gained a point, sub
sequently declined five points on reported
Generalization in the sugar trade. In
the early dealings the moderate frac-
tional advance here followed the improve
ment in London, where the public were
buyers OF Americans. Subsequently
stocks became quite reactive, but sales,
particularly in the standard stocks, were
well taken on actual investment and
Seni-inveS tment purchases and covering
Of short contracts. Rallies ensued, par
ticularly among the early sufferers, and
around delivery hour gains were con-
siderable. The Atchison issues recently
brought to the front by prominent inter
ests were a sustaining factor.
The vulnerability of sugar was largely
responsible for the extreme irregularlty
this speciality industriously and uncov-
cred round amounts of stop-losS orders.
Considerable support was extended TO
the general market throughout and pool
buying was instrumental in lifting into
prominence some of the low priced stocks
which had not as yet moved IN proportion
20 the rest of the list. Missouri Pacific
was the only laggard In THIS category OF
shares, proflt-taktng conspiring to keep
the price well below yesterdays level.
The Federal Steel stocks, which had
been left somewhat neglected, were
taken in hand late in the day and adj
vanced materially. Speculation finally
betrayed a very good undertone, consider
ing the heavy blocks of realizing orders
which came out after every rally. Later
operations were quite extensive, arbi-
TRACE dealings being for both accounts
but heavily in favor of the bulls. Omaha
took the initiative in the final rise in
prices and gained three points. North
west moved up Sympathetically, but the
advance in the other granger stocks was
not significant. Speculation left off heavy
IN tone with net changes fractonally
either way.
The bond market gave a better iIlustra-
ton of strength than the stock list, al
though realizing orders were in force In
the speculative issues final prices re-
cording substantial gains in many cases
Total sales, IS, 10,0
U. s. 3s, the old As coupon and the Is
registered advanced Is in the bid price.
The total sales of stocks today were
$1,000 shares, including: S0.255 'Atchison
$500 Central Pacific, 7,4S0 c. & O., 7,22
Burlington, 5,3S5 c. c. c. & st. L.. 500
Denver & Rio Grande preferred, $50
Illinois Central, IA. 3S4 L. & N, Il, 100 Man.
$3.50 Hawaiian preferred, 27,940 Missouri
Pacific, 3,S4S New York Central, 49, ~
Northern Paclnc, 900 Northern Pacific
preferred, .2S5 Rock Island. 1885 UnioI
Pacific, 1890 st. Paul. $500 st. Paul
Omaha, 1900 Southern Pacific, 1914
Southern Railway, q ,SS7 Southern Rail
way preferred, 1885 Texas & Pacific
1920 Union Pacific preferred, 27,4
Wabash preferred, 1910 Wheeling & L
E, s,2S 9 American Spirits, 19. $50 Tobacco
S,199 Illinois Steel, BIB Illinois Stee
preferred, 1900 Peoples Cas- 4.253 Genera
Electric, $3.50 Pacific Mail, 1875 Pullman
5000 Sugar, 1870 Tennessee Coal s
Iron, $3.50 Rubber, 2O,115 Western Union
3.32O Chicago @. w.