The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-12-18
RecOrd-Breaking Week In Volume
and Prices.
TRADING WAS ENORMOUS
FOUR AND A QUARTER MILLION
SHARES OF STOCK.
And the Bond Transactions Aggre-
gated Nearly Forty Million Dol
lars-Prospect For Cheap Money
Bank Deposits Heavier Than Ever
Before-Expansion In Loa9s.

New York, Dec. 1.-THE market today
opened firm, with rise Of a point in
Union Pacific. Later the irregularity in
London. which had been ignored in the
initial trading. was an influence locally.
There was a sharp break in the Wander
bits. Lake Shore, New York Central and
Canada Southern over a point. Local
Traction shares. were off sharply, especi-
allv Metropolitan & Manhattan. Missouri
Pacific also weakened decidedly. There
was considerable strength in other spots,
Southern Pacific, Central Paclhc, Denver
preferred and PittSburS, Z. Z. q st l.,
Shares showing frmness. In the second
hour the downward movement was rather
uniform. In the final dealings, however,
an improved tone set in, in which Is. q
o. and Lake Erie & Western stocks re-
corded substantial advances. The aver
age declines were less than per cent
The bank statement, which was more
favorable than expected. was later than
usual in making its appearance, but us
influence helped the closing rally.
This was the largest week on record
for transac tionS in stocks and bonds, the
sales of stocks being above TOUR ana a
quarter million shares ana those OF DonuS
nearly forty million dollars. The variety
OF stocks and bonds dealt in were also
greater than ever before. me market
bulared early in the week, making nlgh
record prices, later the movement was
more hesitating and irregular, some
stocks advancing NlltIG OAl4tAo OSSlAAlNN-
Aside from the temporary requirements
for January dividends money promises
10 continue at reasonable rates because OIL
the large trade balance in favor OF the
United States due to an excess OF exports
in five months of S245,OOO.OOO.
The financial horizon seemed clear, but
the money and loan market contlnue sSi Z, 70
be watched narrowly. As long as Ihere
was no cause for alarm, securities were
bought confidently.
Cross trafic statements were very
- rr-f,, no fhq hpingr
Increase in weStbOund tonnage, when IN
Guided q greater percentage OF manu-
featured articles. Favorable railway re
turns from some SecuonS Wnlcn nau re-
pOrted a falling off for a long time caused
considerable cheerfulnesS and round
amounts of stocks were taken In antlcl-
patton of favorable net results. LONDON
operations were watched with consider
able interest during the week, owing 10
the tendency OF the money market, which
showed an appreclable hardening TOWARD
the close The disposition abroad eN-
cepting Berlin, however, was much more
favorable to American rails and the net
result OF the arbitrage purchases was in
The local commission house business
was heavy. Interest largely conferred in
railways. The bulls from time to time
took up one stock after another and
raised each in turn, IN most cases al
record figures.
cago * Alton, by various railroads in
each instance gave strength to the prop
erty supposed to have acquired the Alton
Although it was understood that the
property was on sale on favorable terms
no deal took place. as far as known, bul
It was always the last story that found
believers. Among the shares which have
an international market but do not
usually figure to any extent in the loca
dealings were Denver preferred, NorfOlR
x Western preferred, and Central Pa
cific. These stocks were lifted out OF
the rut and brought prominently forward
competing at times with the recognized
shares in point Of activity. Sugar dropped
eight points, owing TO various interpreta-
tons of the trade situation.
Features Of pronounced interest de
veloped in the bond market daily anC
purchases Of seni-speculatve issues were
in an enormous volume. Foreigners pur
chased freely.
United States As coupon advanced y
the old IS coupon and the new IS g; tbs
old Is registered and IS Il and the End.
registered g in the bid price
Total sales of stocks today, 276,10
shares, including: 1850 Atchison, 1929
Central Pacific, $500 Burlington, $500 D
& r. G. preferred. $3.50 L. q N, $50
Manhattan 11,fG0 Missouri Pacific, 500
New York Central 3.S13 Northern Pa
cific 14275 Union Pacific. 1905 Union Pa
cific preferred, $3.50 st. Paul, 1920 South
ern Railway preferred. 2l,132 Fedora
Steel. 1S,S42 Federal Steel preferred, 3,S9
Peoples Gas, $3.50 Sugar, 6,7S5 T. c. 6,