The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-10-28
BULLS BRACE MARKET
Speculative Activity Was Consider
- ably Breadened.
RAILROADS IN DEMAND
UNION PACIFIC7s SURPLUS FOR
SEPTEMBER, S112,554.
Movement of Cotton and Decrease of
Yellow Fever Foreshadow Good
Earnings For Southern Roads-
Sterling Exchange Easier On
Calmer Feeling In Paris.

New York, Oct. 27.-The stock market
showed a continuation of yesterday
strength today and the speculative
activity 5roadened out considerably IN
addition. There was not quite such a
congestion of trading in Tobacco ana
sugar, although those stocks continued 10
be the leaders in point of activity. Ihey
were traded IN nearly all day at a lever
below yesterdays close, though eacn
stock advanced slightly above yesterday 5
price for brief interval Sugar left OIL
with decline OF 3A from the highest ana
a loss of IA from yesterday Tobacco
was under pressure on the supposiuon
that the recently incorporated company
IS destined 10 be a powerful competitor
and on denials of accessions to the Amer
lean company Of outside plug tobacco
comDanies. The stock was at one time
of "a, but closed with a small net gain
In railroad securities the continued dull
ness and hesitation on foreign exchanges
was without effect. There was a large
demand for quite an extensive list OF rail-
road stocks, the grangers leading with
pretty much all the western and south
western roads showing a good tone. The
eastern trunk lines continued TO lag on
account OF the admittedly bad rate SItua-
ton in that territory which nullified the
benefit of the exceptionally large tonnage
which IS being moved. ST. Paul was the
leader in the railroad list and the move
ment of the stock was supposed to fore
shadow a good September statement due
tomorrow The gross increase of that
period IN earnings is known 10 be Well
on toward $4,000 and it is surmised that
the statement will show a reduction in the
recent rates of expenditures for improve
ments charged to operating expenses. The
September statement of the Union Pa
CHIC while showing a decrease OF over
$4,000 in gross earnings showed operating
expenses so largely reduced as to leave
an increase IN surplus earnings OF $ll2,-
554. The delayed movement of cotton
now coming forward and the decrease of
yellow fever foreshadows good earnings
for southern and southwestern railroads.
- The easier tone today of sterling eX-
change was the direct result of the
caimer feeling in Paris. There was a
heavy demand for sterling exchange here
yesterday for Paris account, which
which lifted exchange on London in
Paris above the gold export point, name
ly, the pressure to transfer funds from
Paris TO London. 1t is now known also
that the violent recovery in British con-
soils was partly due to buying for ac-
count of umid Paris capital because of
domestic disquiet and not altogether to
the relief of the Anglo-BreDch tension
over FashOda. There was good absorp-
are generally higher. Total sales, $780,
0Od
u S. new As coupon declined 4. while
the IS registered advanced Is in the bid
price
The total sales of stocks today We're
375.200 shares. including: Atchison, 800;
Burlington. 27.700; d. & r. G. preferred
1856; Manhattan, 1872; Northern Pa
cific. 10,S5S; Rock Island, "a. go; St. Paul.
American Tobacco. 5000: Federal Steel,
1850: Federal Steel preferred, $685. Peo-
pies Gas, 5,445; Sugar. Sc, 800; U. 5. Rub
ber u ESQ.