The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-12
STOCKS WERE LIVELY
%
Advance In Money Rates Checked
the Activity.
DAY OF UPS AND DOWNS
UNION PACIFIC PREFERRED
Z PUSHED UP TO ee14.
DAY OF UPS AND DOWNS
Market Opened at High Level, But
the Large Operators Unloaded-
Sugar Shorts Scared By the High
Loaning Rate-Bonds Were Phe-
nomenally Active.


New York. Nov. 1L-Wall street was
prepared for an outburst of enthusiasm
over stocks on the part of the general
public after yesterdays ebullient en-
thusiasm on the part of the street itself.
The grangers, the Northern Pacific and
the leading southern railroads opened
high. The public's enthusiasm had ap-
parently induced it TO place large orders
to buy stocks at the opening. The fore
sight of the large operators IN making
the opening lever Of the market a hlSn
one was thus justified ana lhey req tne
eager demand of outsiders quite Ifeelg-
Prices however, were fairly well MAIN
tanned in The first hour, but in spite OF the
violent activity of the market IL soon pc
came evident that the supply OF stocks
was fully equal to the demand. Room
traders detected evidences OF realizing by
large interests and commenced to sell the
market with quite q marked erect on
the sTangers. This had the effect Of
Checking activity ana The market tel III
TO dizziness until it received renewed I'M
petUs from the strength OF SPECIAL STOCKS.
Inc S1oTtS IN sugar became nervous as
q result of the high loaning rate Tor the
stocks and covered some heavy INES
raising the price rs. Union Pacllc pre-
1eITed was pushed up to 69A Brooklyn
Transit above IS and Peoples Gas above
~. Prices generally rose TO near the
best again In sympathy with TINS move
ment and invited renewed buying Iof
outside account, through commission
houses. But the level was not attained
in the last hour, when call money was
marked up TIC ~ per cent and prices EEL
away throughout the list. Earlier gains
l were practically wiped out in the grang-
ers, the Paciics, except Union Paclnc
preferred, the southern stocks and other
spec1alues. including Federal Steel
AtchlSon preferred which was again the
leader Of the market showed more sub
stantial opposition 10 the dechne IMAM
many other stocks. Dealing in all OF the
Atchison securities was OH an enormous
scale and ii was accompanied By reports
of the early entry into the directory OF
official interests largely dominant III
Rock Island. There was an unexplained
advance Of 212 points in Central racine,
which was not imprODably connected with
the coincident advance of Union Pacltlc
preferred.
Pacific Mail also advanced notably on
account of increased earnings. The de-
cline OF the last hour was accompanied by
increased ACTIVITY, indicating DISPOSE
ton towards liquidation.
The bond market was again phenomen-
ally active and embraced a great variety
of issues. The Atchison adjustment As
were, however, easily the leaders, with
total sales of a par value of nearly 81
100000. This bond advanced 2 per cent TO
7314. and reacted ssln the late dealings
The Atchison general As were also large
ly taken. Prices are generally higher
than yesterday. though the highest OF the
day were not maintained.
Total sales, s. 2S5,O0O Z. S. IS declined
Is in the bid price.
The total sales of stOC today were
733.500 shares. Atchison, l2.035; Atkinson
preferred. 70, 165; Central Pacific, $3.50; c.
& O., 800: Burlington, % SEQ; Denver &
Rio Grande preferred, 1926; Manhattan,
$685. Metropolitan Street Railway, 1898
Missouri Pacific. TO- 475 Northern Ameri-
can Company, AGO; Northern Pacific. 60,
$40; Northern Pacific preferred, 12051;
Rock Island So 10. Union Pacific. 24216;
Union Pacific preferred SO. S75: St Paul
g. 900; Wabash preferred, 3,3l5; Tobacco
2, 2SJ: Bay State Gas 81, $50; Federal
4S0: Peoples Gas. 3l.525: Pacific Mail. IA
240; Sugar. IS, 49,; r G. & l., 1896;
Leather. preferred. $3.50; Rubber, 1875;
Western Union, 2,575; Chicago, G. w, 81