The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-13
Principal Interest Conferred In Union
Pacific Yesterday.
THE OREGON SHORT LINE
REPORT THAT NEW COMPANY
HAD SECURED CONTROL.
Effect of the Report On the Street
Stocks Bought In the Belief of
Far-Reaching Plans Of Combin-
alton ana Extension-Strength of
Western Railroads.

New York, Jan. 12-TOday'S market for
securities was much of the same char
acter as yesterdays. The principal inter
! est was centered in Union Pacific and a
number of its affiliated companies, and in
Northern Pacific, which were the leading
factors of strength, while on the other
hand, Sugar continued under a weight Of
depression, as was the case yesterday. A
new feature of special strength was Ches-
apeake & Ohio, which advanced a point
on heavy buying Transactions were on a
very large scale and the heavy dealings
of large operators, backed by the power
ful interests, were manifest all through
the market. These large operations at
tracted a considerable following, both
amongst the smaller traders and from
outside sources. Commission house bust
ness was, in fact quite noticeable in the
dag trading. 1t was obvious, however,
that realizing on large scale. was going
ON in different parts of the list coinci-
dentally with the strength in other parts.
A striking example of this process was
seen IN the Two Northern Pacific stocks,
the common being advanced over point,
before the close below last nights last
sale. The grangerS. outside of st. Paul,
will also be seen to reflect a supply of
stock fully equal to the demand.
OREGON SHORT LINE
Union Pacific rose al one time over 2
points. but buyers commenced to profit
as soon as a report was published that
the new company had secured control of
the Oregon Short Line. The stock re-
acted over point. The recent strength
OF the stocks of the disintegrated por-
tons of the old Union Pacific system is
fully explained by today's announcement.
This buying was evidently founded on a
belief in far-reaching plans of combina-
some prevalent rumors, will embrace one
vast system from the Atlantic to the
Pacific. Much was made in the market
on a reported bond issue by the Chesa- |
peake & Ohio. though the view of bene-
fits to accrue seemed to be somewhat !
exaggerated regarding the amount of
transactions.
FOREIGN MARTS.
Advices from the London and conti-
mental markets showed the tone of Ameri- !
markets to be excellent London bought !
in this market no less than 10000 shares /
of the favorite international stocks, and !
the market strength of Union Pacific, |
Denver & Rio Grande preferred. and |
Northern Pacific were directly attribut- !
able to this demand.
The weakness in sugar seemed to be |
connected with the annual meeting of the |
directors, in progress today, though no /
news regarding the company reached the I
house. Money declined to yield today be-
Aet reflected the prevalent feeling that
rates will yield in the near future. Large !
amounts of money also found their way
INTO investment and speculation today.
GOLD COMING.
The available possibility of relief to the
money market was indicated by the fall
Of nc in posted rates, the GeclinatiOn be-
ng prevented by the expected arrival to-
morrow, at San Francisco, of another
i. DOC, 600 in gold from Australia. The par
value of today's transactions in bonds is
lot as large as that of yesterday but
business was remarkably well distributed
Ill through the list Gains were the rule
out there were some declines. Total sales,
4, $4,000
U. S. old As. coupon, and the 2's were
PC higher bid today. There was a sale
If the new As, coupon, at 1.2924, which is
he highest on record.
CALL MONEY.
Money on call, steady: actual transac-
ions 21903 per cent; last loan, per cent;
.losed bid, 21aG3 per cent; prime mercan-
lie paper, 314d4A per cent; sterling ex-
.hange weak. with actual business in
'ankers' bills at S4S4$fQ4.S 47s for demand.
md at 4.S2Ss .S25s for so days; posted
ates. $4,000. S31a and s4S51zG4S6; COM
nercial bills. $4.S1%.
Silver certificates, 5714 65Sc; bar silver,
71ac; Mexican dollars. 46isc.
Government bonds strong; state bonds
ull; railroad bonds strong
SALES OF STOCKS
New York, Jan. 12-TotaI sales of stocks
oday were 400 400 shares, including 1864
Atchison preferred. 20,762 Chesapeake &
ohio. 1912 c., B. & @, 3,zS5 D. & r. G.
Stct Gu io,oio L. * ~, 10 ~ lSii'
1856 Metropolitan Street railway $500 Ha-
vaiian Commercial Co., 1920 Reading pre-
erred, 7,433 Missouri Pacific, 500 New
'ork Central 5,345 Northern Pacific. 3d.
80 Northern Pacific preferred, $3.50 Rock
sland, 3S, $50 st. Paul. 4.SS7 Southern. 1859
outhern preferred, 1921 Union Pacific,
l,640 u P D. & G.. 6,525 Wabash pre-
erred, 1910 Wheeling & Lake Erie, 1850
'obacco, $3.50 Chicago Great Western A.
IS Peoples Gas, 1850 Laclede Gas. 66.060
ugar, 5,635 T. C. & l., 5,431 Western
Inion.
BOND QUOTATIONS. -;
r. S. n. As r.. 1891 NJ, K & T. As. S71h