The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-17
Successful Manipulation BY the
Heavy Spectators.
BIG OUTSIDE DEMAND
PROFESSIONALS REALIZED ON
THE RECENT ADVANCE.
Market Completely In the Hands of
the Bull Clique-Heavy Offerings
Withheld When Prices Common
ced to sag-Bears Attacked Sew
eral Stocks Without Success.

New York, Aug. 16.-There was still
further advance in the price of stocks all
along the line today and a still further
increase in the number of shares sold
during the day. The number of different
stocks traded in was also larger, rejecting
the broadening interest in the market.
Buying orders from outside sources were
placed with commission houses more eX-
tensiVely today than on any day since the
movement began. As was the casegy ester-
day, this outside demand was taken ad-
vantage Of to realize profits by the COM
blnaIion-e OF large speculative. interests
which is all the time operating or an
enormous scale. shifting its activities
from one stock or group of stocks to an
other The 2rangers showed the effect of
realizing today and did not rise materl-
ally above yesterdays closing price al
any time So large were the offerings of
these stocks during the first hour of trad
ing that the heavy outside demand proved
insufficient to absorb them and sharp
decline was the result. Burlington
dropped over a point Offerings on a
large scale were thereuDon withheld and
the group maintained a firm tone at
lower level, except for intervals of profit
taking. The bears endeavored to take ad-
vantage Of this profft-taking movement
BY an onslaught upon Manhattan and
Sugar az the opening hoping that the
recent persistent weakness of these two
stocks would make them vulnerable and
effective in breaking prices. But the bulls
az the same time lltteu the Northern "a
cihc stocks q point each at the opening
and marked up Rubber preferred AZ
points.
The outside demand for stocks all
through the LIST was so extensive and
varied as TO lend ample support for con-
tinued profit-takingt by the bull clique.
The bears were soon routed and Man
haitian and Sugar moved upwards along
with the general list. Northern Pacific
and the Union Pacific stocks sagged at
intervals. but the former returned per-
sistently TO the opening high level.
An incident of the day was a notice on
the tape Of the loss Of 1909 shares of
Union Pacific preferred in the name of
William Rockefeller Southern railroads
and some of the western roads showed
notable strength and there was also
marked activity and strength in long
list Of industrials. The close was firm and
active. The demand for securities has
stock market and bonds were compare
lively dull t day. but prices were We y vel
held. Total sales. S.. 515 0Ge. \. S. IS when
issued were &c lower bid. Government
bonds We're otherwise unchanged.
Total sales OF stocks today 700, 800 shares,
including 5.S95 Atchison, 1925 Atchison
preferred. 1ll9 c. & O., $500 c. b. & G,
1855 c. c. c. & St. L. 500 D. & R. G.
preferred. q. 90 L 6, N. g 800 Manhattan,
Z. go Missouri Pacific 3,400 M K. & T.
preferred, 1880 Northern Pacific, SO. 80
Northern Pacific preferred. 4,G15 Ontario
& Western. 16.2z9 Rock Island. 3,725 st. L.
& S. F. 2nds preferred. $500 Union Pa
Omaha. $500 Southern. 17.44o Southern
preferred. $500 Texas & Pacific - 800
Union Pacific preferred, 400 Cotton Oil.
3. 300 Spirits. p. 800 Tobacco G. 115 Chicago
G. W, 80 200 Peoples Gas 14,500 Lead, 3.29S
Pacific Mail. $500 Sugar, 26.320 T. c. & l.,
6,l67 Rubber preferred. 11,1S0 Western