The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-26
Stock Advanced Over a Point In
Wall Street Yesterday.
UNION PACIFIC STRONG
GENERAL MARKET WAS TRREG
ULAR AND UNSETTLED.
Many Traders Were Inclined to Take
Profits On the Recent Advance
Some Manipulation to Sustain the
Market-Bond Market Less Active
Than Usual-Wheat Lower.

New York, Nov. 25.-The action of the
stock market today was suggestive of a
process of rather elaborate and cautious
testing. The powerful allied interests
which have led the recent bull campaign
refrained from buying on a large scale to-
day and seemed to occupy the position of
lookers-on at the protit-taking sales in
progress, standing ready, however, to
come to the support of their favorites in
the event OF their being too hard pressed.
Proht-taIllng was very clearly in evil
dence in the Atchison issues, the Federal
Steel stocks, Peoples Gas, Southern Rail
way and a number of others upon which
the recent advance has been sufficient to
make profits attractive. The selling pres
sure was by no means urgent in these
stocks, which showed decided falling off
from the recent degree of activity, eX-
cept AtchiSon preferred. But they were
clearly lndISposed to advance. The Mo- tn
ern Racltlc stocks maintained their recent
dropping tendency, pending the result of
further consultations between Northern
Pacific and Oregon Navigation authors
ties looking to the adjustment of the dis
pute over division OF territory. 1t was
significant that the stocks of other rail-
roads vitality interested in the controversy
were inclined to advance.
The Union Pacific stocks were strong
the common gaining 49, and Oregon Short
Line rose over a point. Great Northern
on the other hand lost point. There was
evidence of manipulation at some points
no doubt designed to oounteract the protlt
taking elsewhere, and to sustain the mar
ket This was most fragrant in the Read
ing issues. The first preferred stock
closed unchanged from Wednesday, after
having been over three points above the
parity of Wednesday,, closing in London
this morning IA above the opening here
ana IA below during the course of the
afternoon trading. The movement in the
other coaiers was insignificant although
efforts were made to convey the impress
sion that the movement in the Reading
arNeT
developments in the coal trade. There
We're also very positive elements of
strength at few points, notably in Bal
tlmore y Ohio, Louisville and st. Louis
q san Francisco second preferred, and
Great Western preferred, Erie first pre-
ferred and Pittsburg, Cincinnati, Chicago
q 81. LOUIS preferred also showing gains:
Chicago, Indianapolis preferred showed
gains of ~ and respectively The move
ment in Baltimore q Ohio was peculiar in
that the old locks and the new common
deliverable hen issued rose 2$4 each,
| while the new preferred when issued,
which is restricted to dividends of per
cent, reacted a small fraction. Manhat-
and Sugar turned weak after early
strength. Tobacco also lost over points.
The closing was generally firm and the
net changes are mixed.
The bond market was much less active
than recently, and shared in the irregu-
larity OF the stock market. Total sales,
$4,ZlO,0O0. Z. S. IS, the new As and the old
As registered advanced IS in the bid price.
The total sales of stocks today were
44S,2O0 shares. including Atchison, 1926;
Atchison preferred, $3.50; B. e O., 11,O00;
Burlington. S,572; L. & N, 1920; Man
haitian, 20, 800; Reading first preferred,
2S,SS5; Northern Pacific 10031; Reading,
$500; Rock Island, 1926; ST. Louis &.
! Southwestern, 6977; Union Pacific, 23,O35
| Union Pacific preferred 14,3f9; st. Paul.
1887; Paper, 1881; Federal Steel pre-
! ferred. $3.50; Peoples Gas. 6,S35; Pacific
Mail, 1880; Sugar, 2. 609; Chicago Great
Western, ,4S5.