The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-26

New York, March 25.-Today's closing
prices were the lowest in most cases since
the Cuban question became a dominant
factor in the situation. Twenty active
shares averaged lower than at any time
this year and government new is cou-
pons were down to f.192s hid. This was
on the assumption that new issues were
possible If expenditures for war purposes
continued long. Before the battleship
Maine was blown up they were quoted at
LIB.
1t was freely predicted that the Maine
report would be extremely Elfavorable
Tho market opened with quotations
slightly below yesterdays final figures.
The bears, however. were determined to
bring about substantially lower level
and hammered many of the leading
stocks vigorously in an endeavor TO pre-
cipitate Liquidation. The local transpor-
tation shares and Sugar were the most
vulnerable points of attack, and the eX-
treme weakness in those specialties was
soon communicated elsewhere. Numerous
stoH-losS orders We're executed. and the
market for time took on very ami
mated appearance, with losses ranging
between l and 3 per cent during the first
half hours operations.
ABSENCE OF FEATURE.
Purchases for London account and an
effort on the part of some traders to rally
prices gave steadier tone, which. how
eve:. was accompanied by extreme stag
nation As the 0ay progressed. the mar
ket dipped frequently, but there was an
absence of feature in the general specula-
ton until the final hour. when extensive
hc9idatior set in. which depressed the
bulk of the high-priced specialties to the
lowest figures of the day. Washington
houses were sellers, and il was inferred
that they might have some intimation of
the nature of the Maine report. Sugar
was down 3Is. partly on fear of the proX-
unity OF increased competition in the
trade The steady decline in this stock
tended TO color recent reports that inside
support had been Withdrawn for the time
beint.
IN RAILROADS.
The break in Northern Pacific preferred
OF ~. accompanied as il was by weak
ness in Canadian Pacific. was taken to
indicate something unfavorable as forth
coming in regard to the rate war. New
York Central and the grangers showed
little resistance to attack. There was
further engagement for import of a mod
crate amount of gold. making the total
of the present movement, including that
from Australia, nearly S35. 600. 900. The for
elsn exchange market exhibited heaviness
today and some concessions were noticed
IN rates. Quotations for railway mort
cages continued to sag on light offerings,
Mhlcn for the most part consisted of
usually active speculative liens. The total
transactions were 81 600.
Government bonds displayed extreme
weakness. the new As coupon and reg
lstered and old As coupon yielding ! per
cent in the bid price: the old As regis
tered suffered to the exten of IL and the
5s coupon and registered lost Il each.
MONEY MARKET.
Close: Money on call. 194G2 per cent;
last loan. per cent.
Prime mercantile paper 4ha5i4 per
cent.
Sterling exchange weak. with actual
business in bankers bills at 4S31s 4.S32t
for demand and at 4.S07sn4.S1 for % days;
posted rates. 4.S1izG4.S2t2 and 4.Sil.6J4. S5l2.
Commercial bills. 4S01:
Silver certificates 555sGJ5 Bar silver.
-. Mexican dollars. Az
Government bonds weak state bonds
quiet, railroad bonds weak.
SALES OF STOCKS.
Total sales of stocks today $4,000
shares including: Burlington 81. 49,: L.
{, N, 6.1Sj; Manhattan. 2O575; Metropol-
itan. 15.030: Missouri Pacific $500: New
Jersey Central. 3.6i5; New York Central,
COP; Northern Pacific ALSO: Northern
Pacific preferred. 1925: Rock Island. 12-
30: ST. Paul. 1900: Union Pacific Il $50:
Tobacco. 1LiS0; Peoples Gas, 9.4G5; Sugar,
$3.50: Western Union. 4,97S.