The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-12
Yesterdays Business Was the Lar
geSt For Many Days.
MARKET WAS IRREGULAR
HEAVY DEMAND WAS FULLY
MET BY ORDERS.
Favorable Character CT the Govern
ment Crop Report Induced Buy
ing of Grangers-Heavy Offerings
of Bonds-Crop Report Affected
the Wheat Market.

New York. Aug. 1I.--Today's business on
the stock exchange was the largest for
many months. Trading was very broad
and comprehensive and the tone of spec
uiation extremely varied. The general un-
dertone continued Enthusiastically strong.
The decline in prices was not allowed 10
proceed 10 any great length before dull
ness ensued, and in a short time re-
newed demand would carry prices upward
again, generally on much smaller vol
ume of business than that or which they
had declined.
Business was so large and was so widely
distributed that movements of special
stocks had little influence on the general
list, and the market at times showed eX-
cessiVe irregularity. Even while large
realizing WAS going on at one point, an
eager demand would spring up at another
and keep the balance about even. ConsId-
ering the large total of the days transact
tons, net changes are small. orders
placed with commission houses to buy
stocks were larger this morning and more
generally distributed than al any time
since the rise set in. This outside demand
was fed with a steady strean. of stocks,
which obliterated the opening gain before
the end of the IirSt hour. A large part
of the outside orders. especially in the
granger, were attributed TO western ac-
count This buying was induced by the
Unexpectedly favorable character of the
government crop report. Realizing was on
a greater scale in Burlington and Rock
Island than in the other gransers, nosSl-
bly, due to the comparatively less IA
Vorable showing of the corn crop. The
advance in Atchison preferred brought
out such a flood of offerings that the
demand seemed 10 be abandoned largely.
and turned 10 other iOw-priced stocks. A
number of preferred railroad stocks which
have not-yet como 10 the full dividends to
which they are entitled. and some of the
junior stocks on which surplus over
preferred stock has been earned, but not
disbursed. were especially prominent.
Northern Pacific common was the leader
in the late speculation, al an advance of
points. and Denver preferred rose a
one time IL. The industrial specialtieS
were irregular. Sugar was at one time
above 40. while Manhattan fell as low as
1O5 and was depressed all day.
There were heavy offerings Of bonds at
times. especially of recently reorganizad
roads. a considerable part of the selling
being attributed to foreign account. Total
sales. $4.329,0 600
L. S. new As coupons, declined Il, and
the IS, when issued advanced a in the
bid price
Total sales of stock today were 5I5.6Oo
shares, including: AtchisOn, 5,100; Atchi-
son preferred. 4O.500; c. & o.. 500: c. B.
q O.. 81. SEQ: c. c.. c. e st. L., $500; d. &
r. @. preferred, $500; L. d N, $500; Man
haitian. l5.S0a; Reading preferred. $500;
Missouri Pacific. $500: NJ, X. * T, pre-
fsrred. $40: n. Y. Central, $500; Northern
Pacific. 200: Northern Pacific preferred,
and. al.909; Uunion Pacific, $500; St. Paul
57.9O: Southern preferred, $500; Texas &
Pacific. 315G; Cotton Oil. 1000: Union Pa
cific preferred. 10 500; Tobacco, II. 500; Chi
cago Great Western. $500; Peoples Gas,
5000; General Electric, 4,S00; Pacific Mail,
5, 600; Sugar 3I,SG0; T.. c. & l., 1900; Rub
Der, 1900; Leather preferred. 2l,720; West