The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-05-17

! New York, May 16.-The stock market
was rather dull today and the tone was
heavy throughout. Prices never got far
away from the opening quotations except
in few cases.
The opening was made in sympathy with
London. where the heaviness in all de-
partments continues on account of the
uneasiness occasioned by Colonial Secre-
tary Chamberlain'S pessimiStic view OF IN
ternational politics. Americans were no
worse sufferers in the London market
than other securities. Their prevailing
high price make theia an inviting field for
liquidation. An additional incentive for
London'S selling of these securities is the
relieved tension of London'S unfavoraoie
exchange situation and the pressure upon
ii for gold.
There was a fair outside demand for
stocks in the first hour. which absorbed
count and worked some recovery from the
| low point The demand was soon salts
fed, however, and prices drifted for the
remainder OF the day not far from the
low level. Net losses of numerous leading
stocks are point or over,
Sugar was strong after an opening de-
cline and easily led the list in point of
activity. 1t was at one time two points
over Saturdays CLOSE. There were one
or two other specialties, notably Western
Union, Rubber preferred and Tennessee
Island. in the railways, was well held and
at one time reacted above Saturdays
close, selling on parity with Burlington.
But these were exceptions to the gen
eral tone and their strength exerted little
sympathtic influence.
1t was evident that the speculative
activity is waiting on the developments of
the naval strategy in the Caribbean sea-
There was prevalent a somewhat less san
guine expectation of speedy termina
ton of the war, based on some disap-
bardment at San Juan. The evasiveness
of the Spanish fleet was also taken as in
dicating possibility of extended maneuv-
ering without material results. The re-
ported failure of efforts to effect a juno
ton with the insurgents and to deliver
supplies of arms and ammunition to them
was interpreted as demonstrating that
any decisive success in Cuba must wait
on the campaign of the United States
troops.
Sterling exchange rates advanced full z
of a cent today. but the market was re-
ported dull. The money market continued
easy and accommodations on commercial
paper were liberal
Bonds were very dull and prices were
generally lower in sympathy with stocks.
Total sales, $1,2T5,0 900.
There was a decline of Il in the U. S.
registered As Of 1907 The bonds were
The total sales of stocks today were
$4,000 shares including 1.5T Atchison pre-
ferred, 1905 Burlington, $40 l.. & N,
$3.50 Manhattan 5.075 Missouri Pacific,
$50 Northern Pacific, 11S45 Northern Pa
cific preferred. 26.055 Rock Island 80 800
St. Paul. 1882 Union Pacific preferred,
3,S15 Wabash preferred. 50N5 Tobacco,
1850 Chicago Great Western, $3.50 Peoples
Gas, $50. 900 Sugar.
LOANS AND EXCHANGE.
Money on call easier. 11a62 per cent
Prime mercantile paper, 5G611 per cent.
Sterling exchange strong, with actual
business in bankers bills. at 1864 S61S for
demand and at 4.S2%G1.S3 for 60 days.
Posted rates. 4.S311d4.S7. Commercial
bills, 4.S115d4.S2.
Silver certificates. 5sAG57A. Bar silver
81. Mexican dollars. 45.
Government bonds. easier; state bonds
dull; railroad bonds, weak.