The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-17
Explained BY Less Threatening As
pect of War Crisis.
PRICES MOVED UPWARD
SUBSTANTIAL NET GAINS ALL
THROUGH THE LIST.
Spanish as Rose In London and Paris
Gold Imports Show No Signs of
Subsiding-Bonds Strong In Sym
pathy With Stocks-Governments
Advanced.

New York March 1.-THE early
strength in todays stock market was a
repetition of yesterdays movements. but
prices resisted the late pressure for a de-
cline. and as a consequence show sub
stantial net gains all through the list
/ The bulls had the advantage also of high
/ er prices on the London exchange and
although prices Immediately rose buoy
antly above the London parity, there was
conspicuous buying for London as late
/ as business was done on the British
capital. The London buying was GER
tainly due to a feeling at that centre that
there is a more promising prospect as to
affairs between the United States and
Spain. This feeling was shown also in
quite buoyant tone for the Spanish tours,
which rose IL in London and y in Paris.
There was undoubtedly prevalent in New
York also a feeling that the outlook was
more peaceful, and such of the DAYS de-
VeloDmentS as had a more threatening
aspect were ignored. Either the Spanish
governments semi-official announcement
of its opinion on the maintenance by the
United States of the fleet in Florida
waters or the news that official attention
had been called to this opinion by the
Spanish government would nave been
sufficient OF demoralize the market from
now on. But the underlying conviction IN
Wall street is that the authorities at
Washington have come to indulge q nope
of a peaceful settlement. The continued
preparations of defense and such incidetns
as those of today do not wholly dissipi-
tate InlS CONVECTION. NeNeTlleieSSs opera
lions are not on a large scale pending
definite decision of the Cuban problem
SUPPLY NOT LARGE
The supply of stocks was not large to-
day, and prices moved easily upwards
without any heavy transactions. part
of the buying was attributed to large Dull
interests. but much of it was also sup
posed to be the covering of the short
selling which caused the late decline yes
terday. The bears were apparently averse
to renewing their attempt today. and the
high level of prices was not seriously i'm
paired. The hope of a successful adjust
ment of the traffic rate controversy in the
northwest was quite an important factor
Americans The local and industrial
specialties led today's advance but the
grangers. northwesterns and International
stocks in the railway list were also con-
sDicuously strong.
NO SIGNS OF SUBSIDING.
Heavy additional engagements of gold
for import were made today without af-
fecting the steadinesS of the exchange
market below the gold import point. The
total gold movement from Europe on this
movement has now reached $24. 0OO,O 900. and
it shows no sign of Subsiding, in spite OF
the growing tightnesS of money in Lon
don and in European centers- The ac-
cumulated stocks of exchange are sup
posed to have been somewhat reduced,
but there is undoubtedly a large supply
still remaining. and the continued heavy
outward movement of merchandise is con-
stantly bringing new bills into the mar
ket which are sold against gold imports
as fast as they came forward. Bonds
We're strong throughout in sympathy
with stocks. Total sales, 81, $50. 600.
L. s. new As. the SIS and the old As
coupon each advanced Y bid today
MONEY MARKET.
Money on call steady; actual trans
actions 112d215 per cent; last loan, ? per
cent. Prime mercantile paper, 42q515 per |
cent. Sterling exchange steady with !
actual business in bankers bills at 4S3ls /
G4.S45k for demand and 4.S014 for 60 days; |
posted rates. 4.Sl15d4.S3 and 4.S41aGI4. $50; |
commercial bills, 4S912d4S9%..
Silver certificates, 55G55at. Bar silver, 4
55A. Mexican dollars. 45.
Government bonds strong.
SALES OF STOCKS.
Total sales of stocks today were $4,000 |
shares. including: Atchison preferred, |
>. 02O: c., 3. e O.. 1890; L. & n. 1855; +
Manhattan. 27135; Metropolitan. 1880; |
Missouri Pacific, 4.645; New York Central. /
4, 800: Northern Pacific. 1920; Northern /
Pacific preferred. p, 305; Rock Island 49, .
$50: st. Paul. 40.6S0; Union Pacific. 1870; /
81 434; Peoples Gas, $500; Sugar, /
81, SIC; Western Union, :, 800.