The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-13
WALL STREETS BOOM
Big Scramble For Stocks at Ad-
vancing Prices.
ENORMOUS BOND SALES
SALES YESTERDAY AGGREGAT-
ED OVER EIGHT MILLIONS.
Prices of Stocks Moved Steadily Up
ward, Immense Blocks Changing
Hands - Reports of Traffic Earn
ings Were Favorable, and S3,0OO,-
900 In Gold Arrived From Europe.

New York. Dec. 12s-Stocks made very
material progress today in the present up
ward movement and left off buoyant with
advances in standard stocks ranging trom
l to points, While this rise was exceeded
in many less prominent issues, notably
Pullman, Third Avenue and Edison IL
Eliminating. The transactions for the day
in stocks and bonds were of an enormous
scale, immense blocks of securities chang
hands at rising figures. Early quotations
were in strong sympathy with London,
where there was q scramble for stocks,
even after the closing for the new ac-
count, which opens tomorrow. Commits
sion houses We're in receipt of many or
ders to buy at the market and the volume
of business offset frequent efforts to de
press values.
Reports of traffic earnings for the first
week in December were almost uniformly
favorable, as were several belated NO
vember statements of gross earnings. An
incident exerting favorable effect was the
receipt of over $30OO,000 in gold from
mand for bonds, in which the transactions
reached over S., 900 900, eXerted a favorable
influence in stocks, as did a tendency to
| discount January dividend disbursements.
Atchison preferred, on transactions OF
! $50, 900 shares, went up 3A. The heaVy
| purchases were made by brokers 1dentlned
! with prominent interests active in other
| properties. The drift of speculative actlV-
! ity in the grangers was interpreted favor
| ably. High-priced Investment stocks IKE
the grangers, Great Northern preferred,
|
SlHuuehanna rose sharply. Except Sugar
| the industriaIs tended upward. New
| Y ork CentraPS price crossed that or
| Pennsylvania. The coalers, on favorable
| trade outlook, We're conspicuous for ad-
| vances.
General Electric responded to sales of
| it's products abroad. Pacifics were strong
with the rest of the market, Northern
Pacific overcoming the early heaviness
| due to the reports that the company
| favored extensions into Oregon Naviga-
ton company's territory
The market for bonds was one OF the
strongest and most active of the year,
| there being many advances of a point or
more. A renewal of foreign buying on a
| considerable scale was noticeable.
Atchison issues expanded and a great
many other noteworthy gains We're
chronicled in leading mortgages. Total
sales, sS,460,Q00. U. S. new As, the old IS
coupon and the 5s registered advanced Is
The total sales of stocks today were
SS5, 400 shares, including $500 Atchison,
| $50, 200 Atchison preferred, 8, 2S5 Canadian
| Southern 4,035 Central Pacific, $3.50 Burl-
ington, $500 D. & r, G. preferred, 800
Illinois Central, % 40 L. & N, Il, 1874 Man
haitian, $3.50 Metropolitan Street Railway.
1920 Missouri Pacific $500 M. K. & Z.
| Northern Pacific 20,820 Northern Pacific
preferred, 10000 Ontario & Western 1920
Rock Island, 14T20 Union Pacific 2572O
! Union Pacific preferred. 29,500 st. Paul,
800 Southern Pacific, 5000 Southern Rail
| way, II, 400 Southern Railway preferred,
1850 Texas & Pacific, 5000 Wheeling &
Lake Erie, 1900 Wheeling & Lake Erie
preferred, 1880 American Spirits, q 001
II 400 Peoples Gas, g. 800 Consolidated Gas,
0170 General Electric, $500 Pacific Mail
400 Pullman, 1870 Sugar, Is 100 Tennes-
see Coal & Iron. 4.420 Leather preferred,
1900 Rubber, 1851 Western Union, 600 St.
| Louis & Southwestern, 300 st. Louis &
Southwestern preferred.