The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-27
Trading In Stocks Part0Ok of the
Narrowest Character.
BULK OF THE DEALINGS
MAINLY SUGAR, TOBACCO AND
THE CHANGERS.
Bargain Hunters Swarmed the Mar
ket, Placing Their Orders Upon a
Scale Of Prices Tending Downward
Strength Reflected From London
Encouraged the Bulls.

swung laZily upwards today, covering
about the same range as in the downward
course of yesterday. 1t was a traders
market as was that of yesterday. Nc
operations on a large scale were ventured
upon, nor is there any outside interests
in the market aside from some desultory
; buying of small lots through commission
houses. Today's advance, however, soon
put a stop even to this. as the bidding
OF this character comes from bargain
hunters, whose orders are placed upon a
scale of prices downward.
NARROW MARKET.
The market was so narrow that the
conspicuous feature. though in itself
small But this buying is rather signif-
icant in spite of its small volume. 1t was
induced by the declarations of neutrality
on the part of Great Britain. France and
Mexico, and limitations of similar atti-
tude soon to be adopted by other powers.
The demand for Americans in London was
stimulated also by the strength of the
general markets, which were active and
strong on the easier money conditions.
This strength reflected from London was
sufficient to induce the local traders to
take the bull side for short turn.
NO LARGE GAINS.
While there was no reaction of any note
during the day, none of the prominent
stocks made large net gains. A few less
active stocks showed conspicuous move
mentS. Spirits preferred rose 312 and
Delaware & Hudson and Detroit Gas
points each. Sugar. Tobacco and the
grangers made up the bulk of the deal
ings. The money market continues to at
tract much interest and attention. Re
serves continue to be pretty closely held
against future contingencies.
CURRENCY DEMAND.
The demand from the interior for cur
rency, which had almost ceased last
possible TO forecast how far this demand
will go and it is the handspring of the
situation. The United States treasury has
given notice, in effect, that it needs all
local banks are obliged to meet the de-
mand from the interior almost alto
gether by shipping gold. This is likely to
act as a check to that demand, for bills
are desired rather than gold coin. There
was another advance in the rate of eX-
change today carrying it well above the
gold import point. The rate of discount
in London and Berlin was about equally
lower today. Both of these quotations
reflect a subsistence of apprehension here
OF the likelihood of any Stringency. Prob
ably government payments for purchases
of war material made abroad are not
without some effect in giving strength to
the market.
The bond market showed weakness early
cries in some cases. making the net
changes mixed. Total sales, 81 100, 900.
United States old As declined Is per cent
in the bid prices, while other issues were
unchanged.
MONEY MARKET.
Money on call, steady, 2a219 per cent;
last loan. per cent. Prime mercantile
paper, 6G7 per cent. Sterling exchange,
firm. with actual business in bankers
bills at 4.S4%64.S5 for demand and at
4. S0lG for 60 days. Posted rates,
4. S112G4.S2 and 4.S512g4.S6. Commercial
bills 1904.
Silver certificates, 56slQ57. Bar silver,
56ss. Mexican dollars, 4514
Government bonds irregular. state
bonds dull, railroad bonds irregular