The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-05-12
Prices Were Higher On Prospects of
Peace.
RAID ON lNDUsTRIALs
BEARS MADE LITTLE HEADWAY
AGAINST THE RISING TIDE.
Market Closed Active at the Top
Prices = Provisions Monopolized
Attention at Chicago-A Big Adj
vance In Lard-Trade In Cattle
Was Slow-Sheep In Good Demand

New York, May 1.-THE active demand
for stocks and bonds was renewed with
great vigor and confidence today. An
enormous volume of business was done
on the stock exchange and prices are
substantially higher all around. large
number of the leading stocks show net
gains exceeding points and a great
many more have risen ] point or over IN
the price as a result of the days trading;
The upward movement was not resumed
until after a period of hesitation and un-
certainty at the opening, during Wmcn
prices in nearly all cases declined. rms
heaviness was due to the sharp declines
established IN London on American quo
tations before the opening here and TO
the, placing of selling orders for London
account at the opening. There was also
a twell-organiZed raid against a number
of leading Industrial stocks. Sugar and
Tobacco were conspicuously singled out
for this attack, but the bears were in
haste to cover their short contracts, even
az the small decline achieved. Evidently
many of the large bull operators who
had taken the profits yesterday were also
anxious TO get back, and saw an inviting
opportunity at the lower level of prices
resulting from yesterdays declines. The
demand for stocks in the first hour was
urgent. and many blocks Of 1000 shares
were eagerly bought. By the time the
news of the Wall street attitude had
reached London, that market faced about
and sent orders TO New York TO buy.
Alt0OuRn there was redllZlnS OH d ldI &c
scale at different times during the day,
the recessions in prices were insight
icant. The day closed with a renewed
burst of activity and prices at about the
top level. The belief that the termina-
ton of the war is at hand was the impell-
ing motive for the strength of the mar
ket.
A small engagement of gold for export
demonstrates that exchange is still at the
gold point.
The bond market shared quite fully in
the activity and strength of the. stock
market. Atchison. adjustment As ad-
yanced ~ per cent. Total sales, ST.
49, coo.
Prices of government bonds were I'M
changed throughout
shares, including: Atchison. $500: Atchi-
son preferred. 1900; B. & o.. 5000; Bur
lington 2SOOO; L. & N, q GOO; Manhattan.
ferred, 1900 Missouri Pacific. 1860; New
York Central. 100. Northern Pacific,
1000; Northern Pacific preferred, As. 200;
Ps aain 4$24S southern ReT hs preferrsd sS
Union Pacific preferred; 80 200; Wabash
preferred. 1900; Tobacco, 49.5o0:- Chicago
Great Western. 11,700; Peoples Gas. 10 700;
Sugar 1900; Leather. preferre J, 7,120;
Western Union, 100. on
LOANS AND EXCHANGE. =
Money on call steady; 2a21a per cent;
paper, 5iSq6 per cent, Sterling exchange
steady, with actual business in bankers
bills at 4.S41s@4 .S4% for demand. and
4 .S1AG4. Sly for 60 days; posted rates. 4.S2
a.. S51z; commercial bills. 1904.
Silver certificates. SCI. Gl57. Bar silver,
5612. Mexican dollars. 40.
BOND QUOTATIONS.
U. S. n 4s. 1231a No. Pac 1st .1151a
Y. ). n. As c....1-o12 No. Pac. 3s- 60
Sf60I y 5sI So s. -atNo- Pac. As. 943s
4fOII''''''o 'st 8 n Nor. & w. 6s. III >.
u. S. 2s......... % N6rthw. consols .135
U. S. 5s reg. .A12, Debenture IS. lis
U. S. 5s Co.. .11lA O. Nav. 1st..... 1872
District 65s... .1lS o. Nav. 4s..... 9412
Atchison As. -. 90B o. L. IS, t. r. 123
Adjustment As. 64A O. .. L. IS. t. TOP
Can. So. DDS. =. .101 y o. Imp. 1st t. r..110
c.. & o 5s......113 o. Imp. 5s. I. r.. 80
D. & r. G. 1st. .104ia Pacific 6s of U.s.. Ito
D. & r. G. As. SO Reading 49,. S2A
H. & T. c. IS. ITO r. G. W. 1st.... 50?
H. & T. c. C. 6s. 100 st. p. con.......141
Iva c. 1st...... SO iTeP. L. G.. 1st .102l3
l.. & N. Uni As. SO T.. 2. reg. md. 1888
Missouri 6s.... 100 ~ P, d. & G. Is 537s
NJ. K. & T DDS. 62lz iWab. LIST 5s. .....107
NJ. X. & T. as. SSa4 Wab. DDS. So
N. Y. Cent. 1st .116s4 w, Shore .1o7
N J. Cent 5s .1l23 u p pfd - 933s