The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-04
General Tendency Towards Lower
Prices Manifested.
ONE NOTABLE EXCEPTION
URGENT DEMAND FOR GREAT
NORTHERN.
Coalers Favorably Affected By Pre-
vailing Cold Weather-Union
Pacific Largely Dealt In-Interest
In the Bond Market-Govern-
ments Strong All Around.

| New York. Feb. 3.-The strength of to-
days stock market was confined TO spots
and the general tendency continued to-
wards a lower plane in realizing sales.
Pressure by the bear traders was marked
and the outside support offered by the
buying orders through commission houses
was considerably less. There was a strong
tone in a few individual stocks and adj
vance in others was brought about BY ma
nipulation. London also bought some Sc
curities here All causes combined, how
ever. did not avail to maintain prices in
I the general list, and the average level of
the market sagged TO a lower basis.
AN EXCEPTION
The most conspicuous movement of the
day was in Great Northern preferred,
which added five points TO its recent up
ward course. making its gain thus far for
/ the week 20 points The supply OF this
stock in the street at any time is exceed
ingly light, and urgent demand for even
a smaH volume raised the price very
4 quickly The methods of operation on the
board and its financial relations to sub
| sidiary companies makes the stock at
| tractive at any time on the general pos
| sibility OF the readjustment of relations,
and the advance this week gives strong
reasons for supposed general possibilities
of shaping its concrete form. There was
nothing in the news of the day to warrant
a statement as to what that concrete form
may be- over 5000 shares changed hands
during the day.
THE COALERS.
Coalers were favorably affected, as
group by the prevailing cold weather but
they failed 70 hold their gain. Sugar also
ruled above yesterdays closing prices.
I Other exceptions to the prevailing weak
ness might be named, but they We're not
conspicuous, and none held all their adj
vance Union Pacific preferred was very
| largely dealt in. and rose sharply over
last nights close. but fell below before the
/ a considerable falling off from recently
prevailing averages.
BONDS.
The active interest in the bond market
was much better sustained than in stocks
and prices were better held, the general
| level being higher and some sharp gains
I being scored. Total sales. s., 900.
Government bonds were strong all
around. L. s. ends advanced u the new
/ As. the 5s and the old As. registered Il. and
the old As, coupon. Is bid.
MONEY MARKET.
Close: Money on call easy at 11kG1s4;
/ last loan. l12; prime mercantile paper. 'Sn
actual business in bankers bills at S4.S5D
4.S51s for demand. and $4S2hG4S27s for 60
days: posted rates, s4.S312q4s6; CONNER
cial bills. S4S2
Silver certificates. 5el4 a571lc; bar silver.
] 563sc Me2idan dollars 45Lc
! Government bonds strong; state bonds
dull: railroad bonds strong.
! SALES OF STOCKS.
Total sales of stocks today were 3O9, 900
shares. including: b. & o.. p. SO; c. & o..
| 4.95f; c., b. & O.. 1901: Great Northern
preferred 3.14S; L. & N. 1887 Manhattan,
1e.225: Michigan Central. 400; Hawaiian,
\ 1875: Reading preferred. 20379; Missouri
Pacific. 1880: n. J. Central. 5000; n. Y.
/ Central. APO: North American. $500:
Northern Pacific, 5.220: Northern Pacific
preferred 81 40: Reading. 1910; St. Paul.
S.22S: Union Pacific, 1866; Peoples Gas,
I 3. 7S5: Sugar, 1913