The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-23
Heavy Buying Orders Without Re-
gard to Prices.
GOOD DEMAND AT LONDON
PRICES GO DOWN UNDER HEAVY
REALIZING SALES.
st. Paul Was Again Leader-Ex-
traordinary Frice Movements In
Some Special Stocks-Wheat Was
Lower On Reports of Heavy Re
ceipts-Cattle Market Was Weak

New York. Aug. 22.-The stock market
resumed its familiar character of the
greater part of last week today, with
the exception that the early strength OF
stocks was not fully recovered subse-
quently. In fact the closing was rather
easy i'll tone. prices being sustained with
apparent dlihculty at point decidedly De-
low the best but somewhat above the
lowest. In the grdngerS the opening
prices were the best Ut level OF about
1 to ~ above the bouyant top prices of
Friday afternoon. This level was helped
by the marking up OF Americans in Lon
don before the opening here on cabled
orders from New York 1t was the evil
dent purpose to make the opening high
for liquidation of profits.
The commission houses were known TO
have a large volume of orders to buy
and in many cases there was no prlce
restriction on these, the order being to
buy at the market. The realizing sales
in the first hour were very heavy and in
spite of large outside demand, prices OF
the grangers melted away before the
profit-taking sales.
Before ST. Paul had entirely lost its
advance there was a letting-up of the
pressure to SELL and prices turned up
wards again. The tone of the group was
somewhat heavy for the rest Of the day,
though st. Paul rallied above 113 before
the close. The Pacific stocks also showed
evidence of prott-taking, but the North
ern PaciEcs rallied on the showing OF an
August, of S16,544 There was heavy buy
ing of AtchisOn preferred during the day.
and Louisville q Nashville advanced over
q point near the close on reports OF
project for a steamship line to Havana
There were numerous extraordinary price
movements in special stocks, Minnesota
Iron covering a range of IL points and
Illinois Steel about points in efforts to
adjust proportion of valuation on the con-
soiidation. International paper stock was
up IL POINTS and Consolidated Gas had q
break of about 10 points, Cotton Oil adj
vanced AZ and the preferred Us. The
railroad list generally held very firm, In
spite of the unsettling influences of weak
specialties and profit-taking in the grang-
ers, many stocks showing gains ranging
up to point or over.
The bond market was active today and
showed higher prices, the Atchison issues
being conspicuous. Total sales, 1854, 600.
U. s. old As reg. declined a and the IS
when issued sc in the bid price.
Total sales of stocks today, Gil, 400
shares, including: u.s. 1l2 Atchison pre-
ferred. 25, 100 L. & N, 3,420 Metropolitan,
SO. 220 Northern Pacific. q, $50 Rock Island,
Il, $50 st. Paul, 1880 Union Pacific pre-
ferred, $40 Union Pacific preferred, 4,190
Tobacco, 1879 Peoples Gas, $500 Colorado
Fuel and Iron, 3.1T0 Lead, 9420 Leather
preferred, 1875 c. B. & O.. 1885 Man.
haitian, 1850 Missouri Pacific. 1900 Mis-
siouri Pacific preferred, $3.50 Union Pa
cific, "a 400 Cotton Oil, 1900 Spirits. H,440
Chicago Greatwestern, 1880 Con. Gas, g.
600 Illinois Steel, 2S,650 Sugar, 6.0S2 Rub
Der.