The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-04
StagnatiOn Ruled Until Fifteen Min
utes of Close.
LONDON REVIEWS BUYING
STANDARD OILS VIRTUAL DIVI-
DEND OF 80 PER CENT.
st. Paul's Statement a Sustaining
Force Throughout Railroad List
Good Business in Bonds With
Tendency to MISUNDERSTANDING
Fall on Adjustments.


New York Nov 3-The market prac-
tically retrieved today the losses of the
last two days, the majority of railroad
stocks closing within a small fraction of
the prices of last Monday. There was
considerable irregularity ut the opening,
due TO the depression in London. There
was a good deal of activity during The
first hour, mainly centered in the spec
1altes, and changes in the railroad list
We're almost unappreclable, thouSn the
market held very hadr surface. Trad
ing was dull almost 10 the point OF stag
nation until the last 10 minutes when the
most notable gains were made Inc
movement started with a sudden advance
of nearly 8 points in Metropolitan street
railway, and Consolidated Gas followed
with ar almost equal gain. 81. faul SOLO
at L621a. a new high record, and Great
Northern preferred jumped over point:
Other railroad stocks which extended
their net gains to a point or over were
Omaha, Northwest and Denver preferred
Gains in the grangers and Northern Pa
citic and one or two other stocks approx
mated a point The market was held
throughout the early dealings by the
strength of Sugar, which rose above Il5,
and so closed after various nuctuauon
Tobacco and Federal Steel preferred also
showed a hardening tendency, but We're
much less active than of late. inc re-
covery in stocks was attributed To- relief
over the more peaceful prospects abroad.
as indicated by the recovery IN Br1uSh
conSols. the easing of the discount rate
in London and the weakness of the wheat
market.
London bought in this market Tor the
first time in several days. In view of
these developments and the continued
ease of the local money market the ad-
vance in sterling and continental eX-
changes is difficult to account for. An
incident Of the outside market was the
declaration of Standard Oil assignments
OF what is, in spite of circumlocuton en-
ployed in announcing it, a dividend of 3
per cent regular quarterly and per cent
extra, bringing the dividends for the
year up TO 30 per cent against SO per
cent last year and 81 per cent the year
before The traffic statement of st. Paul
showing an increase for the fourth week
in October of $141,464, was sustaining
force throughout the railroad list. There
was a good business done in bonds, es-
pecially in reorganization Is, winch each
showed a tendency to advance Inc iiqui-
dation of some heavy blocks of Atchison
adjustments carried the price down Is
with a subsequent recovery. southern
hallway 5s rose to par.
Total sales were So, 045,0O0. U. S. As old
coupon advanced !, and the new As coupon
declined 4 in the bid price
The total sales of stocks today We're
1874. 300 shares, including Atchison, 1896;
Burlington, 6,115; L. & N, 400; Manhat-
tan 3,O22; Metropolitan Street Railway,
S3l9; Northern Pacific, 6,S9S; Chicago
Northwestern, 6,392; Rock Island, 5,937; st.
Paul, II $40: Union Pacific preferred, B. 49,
Tobacco. q. 900; Federal Steel, 10.30S;
Federal Steel preferred, 14,204; Sugar
oosvVo-.