The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-23
Heavy Stock Purchases, With Prices
On the Rise.
INCREASE IN EARNINGS
NOVEMBER STATEMENT WILL
SHOW IMPROVEMENT.
Prominent Banking Interests In Con-
troll of the NEUTRALITY-SUSPICIOUS.
Volume OF Business On Wall
Street Yesterday-London Was a
Heavy Purchaser and Seller.

New York, Dec. 22-The market today
continued its upward movement on a ire
mendous volume of business, second only
TO the record made one day last week.
London traded both ways, her purchases
and sales being larger than for long
time. On balence, it is estimated that
over $1,000 shares We're taken for London
account. Denver & Rio Grande preferred
was faNorlte in both markets, on pre-
dictions that d 2 per cent dividend, Wnich
later materialiZed, would be declared
Union Pacific issues were absorbed on
rising prices for both foreign and domes-
tic accounts. A pool apparently connect
ed with prominent banking interests
seemed in control Of this stock in the To-
cal trading. There were no new develop
mentS in the property, except that good
showing was forecasted for the November
statement, to be presently issued, and the
continued association OF the property with
the Alton deal, IN which otner roads as
well are supposed to be interested. Real
lzing sales by certain large interests, al
though causing a re2ctonary moVeInenL
early in the day seemed to have been well
taken, considering their volume Inc
conspicuous purchases by two powerful
interests resulted in an almost buoyant
tone before noon There was covering OF
shorts who have expected a reaction
which failed to appear TO any extent thus
far because of the large absorption OF Sc
curities by the nublic.
There was ,5rcrounced strength in the
grangers, Rock Island crossing III by
handsome fraction, while st. Paul ruled
around us and Quincy l2S. The move
ment in these and other standard diVi-
dend-paying stocks had a healthful influ-
ence elsewhere, where bull levers We're
successful in stimulating the movement.
Tobacco and Sugar displayed exceptional
weakness at one time, but recovered sub
stantially in sympathy with the late
buoy2nt speculation. Baltimore * Ohio
shares suffered from realizing consequent
upon yesterdays substantial improve
ment. Missouri Pacific, under period of
heaYiness, rallied points. on rumors that
a dlVlaend declaration was not lnlproDa-
bile. Federal Steel continued its advance
the common rising 3 points. on the favor
able trade situation and the belief that
the powerful interests were supporting
the stock.
The bond market was irregular during
the early part of the day, but subsequent
" moved generally upward, in sympathy
with the stock market.
L. S. IS advanced Il and the new Is and
the old As, coupon, 4 in the bid price.
Total sales of bonds, l2,950,000.
The total sales of stocks today were
S93,l00 shares, including: Atchison, 6,1lO;
Atchison preferred, 32, 100; Central Pacific,
25,500; Chesapeake d Ohio, 3,2S5; Burling-
ton, $3.50; Denver & Rio Grande, 1855;
Denver & Rio Grande preferred. 1860;
Illinois Central 1856; Lake Erie & West
red, 1854: Louisville & Nashville 500;
Minneapolis & st. Louis, 5000; Missouri
Pacific, $500; Missouri, Kansas & Texas
preferred, 1920: Northern Pacific, 12,450;
Rock Island g, 600: Union Pacific, 49, 200;
Union Pacific preferred, 80, 500; St. Paul,
81. 294; Southern Pacific. 1850; Southern
preferred, Ash; Texas & Pacific, 81, $50;
International Paper, 1886; American Spir-
it's 17,52e: American Spirits preferred,
$780, Tobacco. 5000; Steel. 11S.720; Steel
preferred, &c, $50; Peoples Gas, 1880: Col
Fuel & Iron, $50: Pacific Mail, 6 rs; Su-
gar, 5000; T. c. & l.. 2S $50; Leather, 10.
$40; Leather preferred, Il, 700; St. Louis &
Southwestern, 1880; St Louis & South
western preferred, 1920; Chicago Great
Western, 1920.
ROM nTT(lpA ATOMS