The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-07
Gains In Securities Were Maintained
Yesterday.
EASING OF MONEY RATES
TENDENCY IN THAT DIRECTION
NOW PERCEPTIBLE.
Yesterdays Buying Was On a Large
Scale, and the Feeling Was Ag-
gressive and Observation-Disclosures
of an Infusion of New Life In the
Market.

New York, Jan. 6.-Today's stock mar
ket was broad animated and strong
. throughout, and gains were maintained
with only insignificant reactions at a
few intervals. The buying was on very
lar-e scale and was aggressive and con-
fident. A number of operators were in
the movement and the combined takings
made up large share of the total trans
actions of the day. But there was mani
Hesitation outside in the market which
was weakened by yesterdays strength
and commission house business on a fairly
heavy scale The investment demand for
safe dividend payment stocks and the
heavy buying of bonds were also evil
dences of an infusion of new life into the
market. 1t is likely that these dealings
were due to the large amounts made
available for investment by the January
dividend and interest disbursements. Most
of the dealings were professional. never
theless. and they seemed to have been
of one of the largest and most dashing
operators in the market and was in large
part the leader of the last summers rise.
NOTABLE GAINS.
Some of the most notable gains were
achieved early in the day and were quite
firmly held throughout, even in the face
of very large transactions. There was
suggestion of realizing interests, but all
offerings were well absorbed. The closing
was only slightly below the best and
she ed net gains of between l and 2
points for nearly all active stocks. Prices
for American securities were good in
London. and in Europe today, and gave
an impetus to the rise at the opening here,
the international stocks being the first
to advance. Continued strength in sugar
also helped to sustain the market.
MONEY EASING.
The prevailing tightness of money
showed the first decisive tendency to-
wards easing rates today and while most
loans were made at 312 per cent, the rate
yielded TO per cent ana closed at that.
There was a better demand reported also
for commercial paper, although not suf-
ncient to cause yielding of the rate
which continued at 312 to per cent for
choice grades. There was some outStand
ing short interest IN the market, and the
covering of this helped on the rise.
The bond market was even more active
and stronger than stocks and some
notable gains were scored. Total sales,
IS, 900 600.
Government bonds were u higher all
round.
Money on call firm, $685. per cent, last
loan per cent, closed 3u3is per cent.
Prime mercantile paper 1904 per cent.
Sterling exchange strong with actual
business in bankers bills at 4.S5Q4.S5A for
demand and 4S2%Q4.S3 for 60-days.
Posted rates, 4.S312Q4S6. Commercial bills,
ASP 't
Silver certificates, 7s4G575s.
Bar silver, 569s.
Mexican dollars, 451s-
Government bonds strong.
State bonds dull
Railroad bonds strong.
SALES OF STOCKS.
Total sales of stocks today S9S, 500
shares, including; Atchison preferred, 81,
Se5; Chesapeake & Ohio ,2l1fh c. B. & O.,
26.010: l.. & N, 4,435; Manhattan, %, 22O;
Met. st. Ry., $3.50; Missouri Pacific, $3.50;
N. j. Central, 1865; n. C. Central, II, 725;
Northern Pacific, 4,S4O; Northern Pacific
preferred, .2S2; Ontario & Western, 1856;
Reading 1880: Rock Island, 9205; st.
Paul. 26.095; Southern R. r. preferred, b
2S5; Union Pacific, "A. 425; Chicago, Great
Western, $3.50; Peoples Gas, 6,1S0; La
clode Gas. 4,116; Sugar, 1850; Western
Union, 4,S52. 'oo