The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-02-16

New York Feb. 10.-IodayS sharp rally
in stocks is to be attributed to the COW
ering of short contracts put out in yes
terdays furry. Buying was said to be
heavier for washington account. which
was q heavy seller yesterday. yesterday
losses were more than recovered IN most
cases, Notwithstanding a smaller volume
of business today. There was at least
one period of general reaction during the
day, but it was of short duration and de-
ciines reached small proportions. There
was also Drofit-taking in a few special
stocks. which did not affect the general
list TO a noticeable extent.
FAV0RITES IN LONDON.
American securities continued to be IA
vorIteS on the London stock exchange,
where prices of Americans were marked
up with distinctly confident tone before
: the opening here, and London continued
buyer here even after prices had ad-
Vanced TO the London parity. Much stress
was laid on this as indicating definite
change IN the attitude OF the British IN
vesting public toward American secur-
ltieS- They were persistent sellers or
Americans during ali of last summer and
during the subsequent rise, which has
been almost continuous ever since No
vember. They are now buying American
stocks at prices many points above where
they sold. This buying is regarded far
more significant on account of the higher
rates OF money in London as compared
with New York, and the heavy balance
of exchange stll known TO be outstand-
ing in favor of this country. In Paris
Spanish As declined on fears of strained
relations between the United States and
Spain and American securities declined
on some continental exchanges, but Lon
don needed none of these considerations
and continued buying at advancing
prices. Foreign exchange begins 10 re-
Iiect this buying. and demand sterling to-
day declined K and cable transfers the
same amount
LOCAL SECURITIES.
Metropolitan Street Railway showed
continuance of yesterdays weakness after
an early period of strength, and dropped
points. 1t subsequently rallied, but
closed the day with a sharp loss. Other
local securities were strong. Minnesota
Iron was cOnspicuousiy heavy and Lake
There were a few losses shown by con-
sDlcuouS stocks. but the general level Of
prices at the close was very materially
higher. In the active list net gains OF be-
tween 1 and points for the day were
The strength and activity in bonds in
creased as the day passed. Total sales,
81. 360.OOO. United States old IS registered,
the new As and the were Is higher bid
and the new As coupon 4 higher.
MONEY MARKET
Money on call closed easy at 1AG11s per
cent; last loan, IA per cent. Prime mer-
camille paper. ga per cent; Sterling ex-
bankers bills at 4S5lg4 SOS for demand
and 4.S3d4. S35z for 50 days. Posted rates,
4S414s5i5. Commercial bills. 4.S21s.
Silver certificates, 5614 @56s4. Bar silver,
557s- Mexican dollars, 1914.
Government bonds, strong; railroad
bonds, firm.
SALES OF STOCKS.
The total sales of stocks today were
81. 700 shares including; 5.515 Atchison
preferred, 1910 Chicago. Burlington &
Quincy. $3.50 L. < N. 1894 Manhattan,
II. 800 Metropolitan $3.50 NJ. & st. L.. 1855
Nj, K & T. preferred, $3.50 y. Y. C,
4 SIS Northern Pacific. 1,625 Northern Pa
cific preferred. 3. 100 oregon Short Line,
7,S4O Rock Island, 14.270 ST. Paul, 500
Texas & Pacific. 6221 Union Pacific. 9.5i6
Tobacco. $3.50 Peoples Gas, $500 COnsol-
Rubber preferred 10, 1871 Western Union.