The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-04
Now Within Three Points of the 90
Mark.
A DEMAND FROM SPAIN
SUCCESSFUL BEAR ATTACK ON
WALL STREET STOCKS.
Action of the Senate On Silver Coin
age Was Paraded-Active Demand
For Cattle, With Prices About
Steady-Leiter Still Controls Cash
Wheat-Market Strong.

New York, June 3.-Professional specu-
lators on the bear side were very alert
and active today, attacking first one
point and then another of the list and
keeping the stock market decidedly I'M
settled. In the final hour, there was a
move all along the line, which effectually
broke prices, leaving only few small
net gains in some of the loW-priced
stocks that had been pushed up in the
earlier trading In all the prominent
! stocks even Sugar, which was the leader
of the market, gains were practically
amounting to over points The bear
drive was accompanied by considerable
beating of tom-toms and diffusion of
alarmist and ostentatious fears of the
| effect of the Senate'S vote for the coin
age of treasury silver.
The days trading opened with the con-
ditions in yesterdays market rather en-
phasized, that is to say, with the high
priced dividend-paying stocks showing
some effects from profit-taking and the
middle and lower grade stocks well sup
the recent leaders was pretty well alb
sorbed, and it was evident that funds
realized by selling these stocks, instead
of being taken out of the market, We're
simply being diverted into other stocks
which have not as yet advanced con-
spicuously in price. The realizing in the
specialties have, however, caused them
to drop somewhat and made them vul-
nerable to attack. London followed the
New York lead and sold the highprieed
stocks and bought some of the low
priced internationals. The preferred sto- ks
of reorganiZed roads were in especial ia
for, q. P. preferred and Northern Pa
cific preferred being conspicuous ex-
amples. Sugar was strong sustaining
force and rose at one time 212 points.
but saved only the fraction. The local
traction stocks were markedly weak all
day. Money continues in superabund-
ance. New York exchange-Sas gone to
sharp premium at Chicago.
ADVANCE IN SILVER.
Silver sold today at 5s5s. the highest
price of the year, the demand coming
from Spain.
Bonds were strong in the early deal
ings, but the speculative issues yielded
in sympathy with stocks. Total sales,
a. 10000. United States As registered,
the 5s registered declined Is in the bid
price.
Total sales of stocks today. 52z.4OO
shares. including, $50 Atchison, 81, $50
c. q o., 14.SSS c. B. 6, O.. 3.51O c.. c.. c. &,
st. l., so ID. 6: r. G. preferred. $3.50 l..
& N, 16.2S1 Manhattan. 5.935 Metropolitan
Street Railway 14.l15 Reading preferred,
1855 Missouri Pacific zoos NJ. K. & T.
preferred, 4.S35 New York Central. q, 225
Northern Pacific. 24.7SOO. Northern Pacific
Island, 1855 St. L. & S. F. second pre-
ferred, 34.35O St. Paul. 500 Southern. IA
1877 Southern preferred, 3, 400 Texas & Pa
cific. 5S,64 y. P. preferred. 1880 Wabash
Great Western. 2425O Peoples Gas, $50
General Electric, As, 1853 Sugar, 1850 c. &
l., $3.50 Leather preferred.
LOANS AND EXCHANGE.
Money on call, steady, at 161h: last
loan at IA per cent. Prime mercantile
paper, 3G4 per cent.
Sterling exchange, firm, with actual
business in bankers bills at 4. S6K "A $751;
for demand and 4.S41504. ssh for 50 days;
posted rates, 4.S5q4.S7; commercial bills,
4.S3G4. S314
Silver Certificates. 594a6O5s. Bar silver.