The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-03
Yesterdays Transactions Mark ed
By Constant Changes.
UNION PACIFIC SECURITIES
THE NEW ISSUE IMPAIRED
STRENGTH TO MARKET.
Rates For Exchange Hardened
Enormous Total of Yesterdays
Exchanges-Stocks Were Under
Liquidating Pressure-K. P. Con-
soils observation-disclosures Strong.

New York Feb, 2-The stock market
was under liquidating pressure today. but
the strength OF some special stocks and
manipulated advances OF others made the
market exceedingly uneven. There were
numerous halts IN the liquidation during
the day. and partly successful attempts
10 achieve rallies, so that the day was one
OF constant changes some stocks mount
ing upwards strongly while the market
was tending downward
HEAVY SELLING.
There was every evidence of continued
heavy selling to sake profits in some of
speculation. notably Northern Pacific,
Union Pacific and the Vanderbilts. Quite
a large element of the professional trad
ers sold the market with a good deal of
ferings were very well absorbed and most
of the net losses of the day are confined
to fractions. The early transactions
showed positive strength under combi-
considerable buying for London. There
was quite a large volume of buying or
ders from commission houses also during
the day.
UNION PACIFIC.
The new securities of the Union Pacific
company, in the unlisted department, ad-
vanced with something of a rush in view
OF the opening prices, and impaired
strength to the whole market With the
execution of accumulated buying orders
the bearish tendency of traders obtained
the ascendency. There were various rea-
sons given to account for the decline
Among them was the apparent hopeless
ness of agreement as to dates on the ex-
pected Klondike business.
EXCHANGE.
Rumors of losses sustained by a local
bank through injudicious loans encour-
aged the reactions. The rates for ex-
change hardened a shade on investment
induced by the low rates for money, which
mn nod -r.s-f- ss-fn k4-
The days exchanges at the local clear
ing house went to the enormous total of
800. 221, 925, rejecting some very heavy
financial operations. The details of these
could not be ascertained.
BONDS.
The bond market continued strong on a
large volume of dealings. The Kansas
Pacific consols were decidedly unsettled,
first advancing a fraction. then reacting
to 1O9 and later recovering TO 1102a. net
loss of Is. Total sales, $5O00,000.
United States new As declined Is bid
but there was an actual sale of the cou-
pons at an advance of Il.
MONEY MARKET.
Close: Money on call, easy, 115d1N per
cent; last loan, 1A per cent. Prime mer-
camille paper 3a4 per cent. Sterling ex-
change, strong, with actual business in
bankers bills at s4.S47sd4. SO for demand.
and 4.S2S.e 81 .S27s for 90 days. Posted
rates, 81. Ssl5q4.S6 Commercial bills. s4.S2.
Silver certificates, 56LG57A. Bar silver,
$685. Mexican dollars. 45A.
Government bonds irregular, state bonds
dull, railroad bonds firm.
SALES OF STOCKS.
Total sales of stocks today, 100000
shares, including: Atchison preferred,
1886: B. & o.. 14.O60; c. & o.. $40: c. B.
& O., S,312; d. & r. G.. preferred. $3.50; l..
< N. S.9O5; Manhattan, 12.70; Reading
preferred, 27130; Missouri Pacific, Also;
New York Central, $500; Northern Pa
eific $500: Northern Pacific preferred, 15.-
,05; Ontario & Western. 6.125; Reading.
800; Rock Island. 1890; st. Paul. 1920;
u,520; Chicago Great Western,
I.77O; Peoples Gas, $40; General Electric.
;, 4S3; Sugar. 12.S70; Western Union, 1900.