The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-01
STOCKS WERE STRONG.
Various Indifferences Caused Activ.
ity and An Advance.

New York, May 31.-TOday's stock mar
ket was active and strong. but the ac-
| tivitY and strength were not by any
means uniformly distributed. The grang-
ers exercised a powerful sustaining in
fuence, and Rock Island was the feature
of the group
st. Paul closed the day with net gain
of over points. the advance being en-
couraged by published assurances as to
/ the permanent character of the improve
ment charged to the large operating ex-
penses for April.
The newly published statement of Bur-
| lington's April earnings, with a similarly
| large proportion absorbed in operating
expenses, was a drag on that stock early
1 in the day, but its tone improved later
and there was net rise of rs The buOl-
ancy in Rock Island was accompanied by
notable show of strength in others of
the group
Peoples Gas was the most conspicuous
stock in the list and rose at one time 3i4
points. but lost nearly point on realiz-
ing. Brooklyn transit was also up nearly
points at one time
The recent rise in the iron stocks con-
tinued today. Minnesota Iron and Illinois
Steel rose. respectively, and 212 points.
The recent entry into the directory of
the Illinois company of a powerful finan-
cial interest has led to rumorS of extens-
i've combinations in the iron and steel
business. and this is the ground Of the
rise in these stocks.
Chicago and Eastern Illinois rose 6la
points, and Northern Pacific preferred.
Union Pacific preferred and Sugar also
developed strength. a rise of 33s in Della
ware & Hudson should also be mentioned.
The buoyancy of so large a number of
important stocks was sufnclent 20 carry
the whole market upwards, but the
strength was much less notable at other
points in the list. London bought stocks
in this market. and a beneficent effect was
felt in the definite locating of Admiral
Cervera's fleet in Santiago harbor. But
the benefit from this factor was due prin-
cipally to its giving freer play TO condi-
lions generally affecting different stocks.
Manhattan and Metropolitan Street Rail-
way gave some positive evidence OF de-
preston, and it was with difnculty that
they rose at any time above Saturdays
level. A fair amount of commission house
orders to buy had accumulated over the
double holiday and helped on the rise.
Dealings in bonds were in fair volume
and were well distributed. gains being
general throughout the list. Total sales.
u. S. old As coupons advanced q in the
bid price There was a sale at 1l1s. a
decline of 4 from the last sale. Other
wise there was no change
Total sales of stocks today, 500, 600
shares, including $500 Atchison, 24.s00 At
Gibson pprpeferred. 1.5O0 b. & o.. 800 c.
& c.. 20 100 c. b. & O.. Is, 200 l.. * N. 500
Manhattan, $500 Metropolitan. 4, 400 Read
ing preferred. 1916 Missouri Pacific 5000
New York Central, 1900 Northern Pacific.
1890 Northern racine preferred, 4+.SUO
Rock Island. 3.715 st. Louis & San Fran
cisco second preferred. 1890 ST. Paul. 400
Southern preferred. 500 Union Pacid>
preferred $500 Tobacco. 4. 400 Chicago G.
W.. ZOO Peoples Gas, SO, 6el Sugar, 5000
II C. & L.. 400 Leather preferred, 100
Western Union.
LOANS AND EXCHANGE.
Money on call. steady. 1ha2 per cent:
last loan. per cent. Prime mercantile
paper 3AGfa per cent. Sterling ex-
change. easier. with actual business in
bankers bills at 4.76. .4.SSi4 for demand,
and 4.s4a4S4js for 50 days; posted rates.
4.s5q4S711. Commercial bills. 4S3gLss11s.