The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-26

New York, Feb 25.-There was a sharp
recovery in the prices OF stocks today. in
which the engagement of gold for import
was the predominant influence. The
course of the exchange market yesterday
foreshadowed the early Importation OF
gold. which is the direct outcoms of the
stiffening in the rates for call money. The
amount of sterling exchange held in New
York is variously estimated at from si0,-
900 upwards. A large part OF IL has
been used as collateral for loans, and the
large liquidation of loans has released a
quantity of this exchange and brought IL
upon the market In other words. the
rise in money rates makes it more profit-
able to bring home funds which have been
left abroad on account OF the higher rate
hitherto prevailing there.
GOLD IMPORTS.
The import movement of gold is likely to
continue unless there should be sharp
advance in the money market in London
and Paris. The calling in of this coun-
try's gold credits abroad is likely to put
a stop for the present to foreign buying OF
our securities, which has been large OF
late and which continued even today.
The bears made an effort to retain con-
troll OF the stock market at the opening
today by raiding a few of the specialties.
bly, Metropolitan Street Railway ana
Manhattan. but they were unable to wipe
out the gains. shown in sympathy Win mn
first hour. but after that the upward ten
dency became fairly settled and continued
throughout the day with slight fractional
reactions.
INVESTMENT DEMAND.
A distinguished feature of business was
the large number of small lots of stock
changing hands. rejecting large invest
ment demand. The days highest level of
prices was not fully maintained, but net
gains generally were from one to two
points Great Northern preferred gained
six points on renewed rumors of a val
liable distribution to be made to stock
holders. The effort being made to adjust
rate differences on western and transcor-
tinental lines was favorable factor in
the market.
Money on call loaned at per cent. but
later became easier in response to gold en-
gagements. Rates were firner in both the
money and commercial paper markets.
There was a sharp recovery in bonds to-
day. in sympathy with stocks. Total sales,
L. S. As. regular. l. and the old As, reg
ular, and the as. y bid.
MONEY MARKET
Money on call firm at 1G2 per cent; last
loan, per cent; prime mercantile paper,
3Q4 per cent; sterling exchange weak.
with actual business in bankers bills at
4.S4 for demand ard at 4.S1% d4.S2 for 60
days; posted rates, Ash. 4s51.GI4-S6; COM
merciai bills, 4S1G4S115.
Silver certificates, 5515G5s1a; bar silver,
55lz; Mexican dollars. 45E.
Government bonds weak; state bonds
dull; railroad bonds strong.
SALES OF STOCKS.
Total sales Of stocks today 49, 500 shares,
including; Atchison, 1910; Atchison pre-
ferred, 1886; c. & o.. S,165; Burlington, 81.
$50; L. & N. 12.975; Manhattan. 1889; Me-
tropOlitan, Street Railway. Sis; Reading
preferred. S,335: Missouri Pacific 6.662: n.
Y. c.. 10. 10; North American, $3.50; North
ern Pacific. $40; Northern Pacific pre-
ferred 1850; Rock Island, IS ego; St. Paul.
31.650; St Paul & Omaha. 4550; Southern
preferred. 6, $50; Union Pacific 13.175; To-
bacco 1889; Peoples Gas. 20. $50; General
Electric, 1881; Sugar, $3.50: T. c. & l.,
$500; Western Union, 10.097.
BONDS.
J. S. n. is. reg. .12414 L. & n. Uni. IS S7H
Do. coup. .....124 N Y. Cent. 1sts.11612
q: S. IS. ........11llz y. J. c. IS ......1l3s.
Do. coup lib No. Pac. lists. .11Sl2
Do. DDS, 99lsi Do. SIS -........ 609s
T. S. 5s, reg..--n2 Do. As ...-..... $50
Do. 5s. COUPLE Nor. & W. 6s....125
District COS. .1181s invest. cons. 1928
Can. So. IDS ....1093s Do. deb. IS Hrs
D. & r. G. 1sts..109 o. Nav. 1sts.....115
D. Il r. G. 4s..-. 90 D. Nav. As ....... 94S4
II. & T. c. SIS. 1922 }. S. L. 6s, I. T ZIP
Do. con. 6s .-.106 .. S l. Is, t r-100
iva. c. lists ....100 ,. Imp. lists. r109
K p. Con t. r..1G0 Do. 5s, [. r.. 81
1a~N 1fwzar t.