The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-30
Such As Bought Stocks On the
Peace News of Monday.
SHEEP DECLINE IN PRICES
NEARLY TWO POINTS LOSS IN
MAJORITY OF LIST.
London Was Both a Buyer and Seller
In New York Market-Gold Move
ment-Rates For Money Stiff
Bonds Moved In Sympathy With
Stocks-Goverrments Higher.

New York. March 29.-Wan street
awoke this morning to realization that
it had been duDed. Spectators. conse-
quently wore a somewhat rueful aspect
in all but that select inner circle. which
reaped the profits from the well organized
plan TO preciDitate a hear panic. II was
very noticeable that those who were
loudest yesterday in the proclamation of
the settlement alleged to have been ar
rived at between the United states ana
Spain, were no longer active bidders Tor
stocks and securities today, although
they are credited with having parted
with large holdings at the high Level yes
tercay. The sanguine expectations OF TINS
element that values would go higher IN
the immediate future. had been changed,
and the short interest. having been
largely eliminated by yesterdays forceful
process, the market was without material
support and prices promptly dropped OFF
from about / per cent to upwards or :
per cent, in the opening sales. They did
not rise much above top prices except
in d few cases at any time during the
day.
BULLS AND BEARS.
Some of the smaller dealers who had
confidentially swallowed all the bogus
news that was fed them yesterday. were
anxious to sell stock which they bought
when they discovered what had fright
ened them and Ventured upon some opera
lions. but in a limited manner. This was
shown in the way by which they scamp
cred to cover when the bulls began to
mark up prices in the afternoon. This
Improvement did not hold. but the subse-
quent relapse did not carry prices to the
lowest point of the day. The list shows
net declines nevertheless. of between 1
and points in the large majority of i'm
portant stocks.
BOTH BUYER AND SELLER.
London was both buyer and seller
here. support from abroad being especi-
ally manifested in Northern Pacific
stocks. There seems to be an impression
in London that the Northwestern pas
senger rate war is in course of adjust
ment. Foreign exchange stiffened sharp
~ in response to additional engagements
of about So 800 900 gold for import, bring
ing the total on the movement to over
$64, 600, CO., exclusive of receipts at San
held. 1t is not thought probable that the
movement of gold from Europe will
cease until rates for loans become easy.
Prices of bonds moved in sympathy
with stocks. the speculative issues show
ing the sharpest declines. Total sales,
$1.575. 900.
U. S. SIS were q higher and the new
As, Y higher bid.
MONEY MARKET.
Close: Money on call firmer, IL. last
loan > Prime mercantile paper 5d61s per
cent. Sterling exchange firm with actual
business in bankers bills at 4.S31s for de-
mand and 4SOai for 60 days; posted rates.
4.S112G4S2 and 4.S412G4S5; commercial
bills, 4S0d4. S01b
Silver certificates. 55l4a56ls. Bar silver.
5512. Mexican dollars As
Government bonds strong; state bonds
dull; railroad bonds weak.
SALES OF STOCKS.
Total sales of stocks today. 442 30
shares. including: Atchison preferrd, s..
OGG; Burlington. 43,320 L. & N, las;
Ia haf MprFOnnlifan
Missouri Pacific. 3546: n. Y. Central. s.
946; Northern Pacific. II. 800; Northern
Pacific preferred. 1889; Rock Island. a..
$50: U. P. D. & G.. $3.50; Tobacco, 7,159;