The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-01
THROUGH LINE TO COAST
WALL STREET TRADERS MAKE
A DISCOVERY.
Have Just Learned That the Short
Line Controls Oregon Navigation
Advance In Money Rates Abroad,
Due to Fear of Losing Gold
Stocks Affected.

Berlin was again evidently the source OF
the pressure for accommodation, and its
urgent needs resulted in the sympathetic
hardening of the rates for money at Lon
don and Paris. call money at London
rising to 3 per cent. The price of gold
bars rose an additional fraction in Lon
don. but gold to the amount of S. $4,000
was Withdrawn from the Bank of Eng
land Of this amount I,000,000 was
shipped to the United States, and prob
ably the rest went to Germany. The en-
gagement for the United States was the
outcome of the recent tendency towards
lower rates for money at foreign centers,
which left SO narrow a margin of profit
on the Withholding of the exchange
which is constantly aecumulatlng at New
York as a result of the continued heavy
exports of merchandise that the move
ment of gold is necessary to meet the
obligations. The rise in the money rate
margin of profits on loans made abroad,
and the result was seen in a rise in ster-
ling exchange in New York, rejecting a
renewed demand for investment in Ster-
ling, which will necessarily put an end to
the gold movement for the present.
The incident may be accepted as an adj
montion to the foreign money markets
that they must pay a good rate of inter-
est if they want the use of the credits es-
tablished by this country's favorable
trade balance. Otherwise the activity of
business at home and the needs for
financing enormous consultations and the
formation of huge new corporations will
neceSSitateS the calling home of those
credits.
The effect of the Tightening money mar
kets abroad was to throw a burden of
liquidation on the local stock market, the
international stocks, of course, showing
greatest weakness In view of the large
German holdings of Northern Pacific, it
was perhaps natural that :. this, stock
should be most acutely affected. But
there remains some feeling of apprehen-
sion still of the relations between North
ern Pacific and its competitors.
The story reported to account for the
strength of Union Pacific, of a plan for
the exchange of Oregon Short Line stock
for Union Pacific common stock, indicates
rather an aggressive strengthening of re-
sources than a resignation to an accom-
pIlshed agreement, as oregon Short Line
owns q. majority of common stock of
Oregon Navigation, thus insuring an out
let for Union Pacific to the northwest
coast. The later strength in the market
radiated from Union Pacific.
Sugars strength was due to the rumorS
of consolidation with the Glucose conpa-
ny. Rubber stocks made the usual re-
Spouse to the prevailing gum shoe wea-
ther General Electric advanced on be-
lief of a disbursement of accumulated
dividends on the preferred stock. There
was strength also in a few of the OBJ
scure low priced stocks. The rise in
Manhattan was unexplained.
The declines We're largely recovered, but
mixed.
The bond market was irregular, in sym
pathy with the stocks, but business was
fairly large and well distributed Total
sales, So, S75 600. United Is. advanced 4 in
bid price.
Total sales of stocks today were 423 700
son preferred, 1850; Baltimore & Ohio,
3475 Central Pacific. $3.50; Cincinnati &
Ohio. 300; Burlington, 5000; Hooking
o %aley 774S LO% Vi Syd NashgiIls II
Railway, $3.50; Reading first preferred,
!, 40 Missouri. Pacific, 7,471; Rock Island,
6.772: St; Louis &. San Francisco, 1O,O5O;
Union Pacific 1920; Union Pacific pre-
ferred, L, 235; st. Paul. 600; Southern
Railroad, 5000; Southern Railroad pre-
ferred. 5000; Tobacco, 80, 1O5; Federal Steel
eraI Electric, 6.4O0; National Linseed oil,
$3.50: Pacific Mail, APO; Sugar, 42,44O;
Rubber, 1926; Chicago Gas, 5,515.
BOND QUOTATIONS.
U, S. n. As reg. .12524 No. Pac. lists lis
do, coup. ..12S58 do. IS $50. -. .67A
do. coup lib N Y. c. & ST. y
o. o2 G IS reg lYs Nor Or e W IS . 1SS@
do. IS coup. ..11S1k Northw. con ...l42
District sos LIP do deb. IS ....11S1a
Atchlson As 49,. 9S1s Ore. Nav. lists. ia
Can So DDS .-1i01S o. S. L. 6s t. r..1 SO
Can. Pac. lists $685. do. 5s, t. r ...1091s
C. & N. P. t. Pacific IS Of '95 1929
5s ....:.. ........ 9112 Reading Is go. S4ss
c. &5 Ohio 5s Ills r. G. W. lists . 9O%
c., H. & d. AIS. 10458t st. L. &, T. NJ. C.
D. & r. G. lists. 10S IS ..... - 97h
D. e. r. G. As :. 1914 st. L. & S. f.
East Tenn. lists .1N Gen IS - .122K
Erie Gen. As -. 7414 st Paul Con. ISL
F. w. & D. lists, St P. C. & P.
Gen: Elec. IS ..110ls do. IS ..........119
g; 49, j. Is ;. a ss:3S5 $. * Z IS .l 81
H. 6, T. c. 5s no t. P. L. G. 1sts.1O9
do. con. Is lilo do. reg. IDS . 45$t
Iowa Z. lists ..1O6 Union Pac. As ..10119
j. & N Uni As 944 U. P. d. & G. Is S5%
+. NJ. K. & T. eds. 651% Wabash ist IS liz
N. Y. g. lists lis W. shore nos As III =
N. ]. c. IS .....141a Wis. Cen lists ;. 60
STOCK QUOTATIONS.
Atchison ....... is R G. w. ...... 81
Preferred -. 45B Preferred 49,. 81
Bal. & Ohio 5 5,A f Rock Island ...1O715
Can. Southern 5@ do. pref. -. 67%
Ches. &, Ohio ,2 2512 St. L; & S; w. SIS
Chi & Alton , 49, 81 Preferred ps,T f.
Preferred -. no St. P. & ON 80 IS %
chi md & " L. & St PF P IT n 5 -
| Chi. & n. w. ..139 So. Railway 80. l01s
Preferred $50 Preferred -. 4O5a
Preferred -. IS Union Pacific :. SS5a
! Col F. & [. -. 22ls Preferred 49, 695s
! Del. & Hudson SO Wabash ......... IL
PEI; /; : W. 1 42ss v Preferred 49,. FIX
preferred -. 621s Preferred -. 1859
Erie new 49,. 1874 Adams Express. log
1, Preferred 80 g A A E Ok: rs
ffrf N May pref 1885, Wells I Fansa 9S
Hooking Valley. "A Am Cot. Dill. 81
| Illinois Central 1l1A Preferred 49,. 81
l. Erie ras & W. IL f55t A Preferred fGr $$5A
Lake Shore ...19S Preferred Pr
Louis. & Nash. G21a Cons. Gas 1889
Manhattan L. .9S Com. Gable Co. no
MET. St fe6 by. . 1884, Preferred erred: H.
MINI. g. st. l.. 2l12 I1aw. Com. Co.. AZ
Preferred 80. IS Inter Paper -. 591z
Mo. Pacific -. 3ll4 Preferred 800 92i!
NJ. K. & T. -. d1$a Lead -. 49,. 80
Preferred -. S Sd$s Preferred -. 1l11E
n. J, Central ,9 9$i4 Sat Lin; Oil S5
N. Y. c. & st. L - Peoples Gas ..10S1!
DC. md Ts PREF pref, siiReP ae cert 3f .i ss
No Amer. co. 7s5E Sugar -. !.....125&5
No. Pacific -. 4gss Preferred Zip
Ontario ont & Y. 755s q s. Leather 8
ore. Short Line 81 ~. s. Rubber =. 45H
F.! Pacific Coast LIST Preferred 1O5%
1st pre- pref nre z M We en-, Union. S3
Pitsburg Ut ..172 Preferred 49,. 96
Reading 49,. 1914 b. r. T. Co. 49, 67Ik
| Preferred 49,. 45ls
NEW YORK MINING STOCKS.
Chollar $50. :. 20 Ontario -. 49,. 4OC
/ Crown Point -. 16 Ophir - -. Ct
! G. Cal. & Va. =. 120 Plymouth ~ Il
| Deadwood 40 Quicksilver :. :. 2;
/ Gould & Curry. 10 Preferred a
! Hale & Nor. -. 12O Sierra Nevada i 0:
! HCmestake 49,. 80 09 Standard 49, . 81
/ Iron Silver ....- q Union Con. -. q
Mexican -. Il Yellow Jacket Il