The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-27
After Bad Opening, Stocks Closed
Higher.
GOOD DEMAND FOR U. P.
4 ATcHIsoN STATEMENT HELPED
TIE WHOLE LIST.
Disgruntled Stockholders of the Nor
thern Pacific Are Unloading
Bank Statement Shows a Decrease
In Loans-Banks Increasing Their
neutrality-suspicious. For Week

New York, Nov. 26-Today's short ses-
sion Of the stock exchange was long
enough for several uncertainties to de-
velope and to reserve themselves again,
so that the session, as a whole, continued
of the same irregular and mixed character
as those of the whole week have been,
The strength Of Americans on the London
market was not sufficiently pronounced
to effect the opening prices here ana
prices were below the London parity, even
where gains were shown. II was cles1r
enough, however, that there was con-
tinued good demand for Union Paclflc
and the St Louis * San Francisco pre-
ferred. and Northern Pacific recorded
recover of part of yesterdays decline.
Continued profit-taking was evident
at other points and Manhattan suffered a
break of l5s on published demals OF a
Vanderbilt interest, ard Tobacco almost
as much or the threatened competition
in cigarettes. There We're conspicuous
fractional recessions also. in the Balu
moro & Ohio stocks. and the coalers
showed no eXhiliration over stories that
''tae coal trade had been fixed
There was not much encouragement to
bear. operations in such Il market and
when cables We're received that the Span
jsh government had Instructed It's com
missiuners TO sign treaty of peace the
mar1es generally turned upward ana
quickly recovered a part or all off the
earlier declines.
Atchison's October statement helped
sympathy the entire list. The state
ment showed a net increase of S221 49,
saved out of the gross increase. 1t was
saTnOunced incidentally that the reduction
in operating expenses, due to eXtraor-
binary eXpenG- spreS for bettermentS,
would begin on December 10. G0Od state
ments OF earnings by a number of other
railroads helped the recovery. The bank
statement was considered strong one
at first glance. with the increase IN sur
plus reserve. though subsequent scrutiny
oFr he in, he tom, a .za
some modification of this view and caused
some late reactions, but not until an
active bSying movement had developed
all through the list.
A midweek holiday is almost certain to
break in on the course Of a market and to
cTtan operations, except such as are
designed to even up contracts. The
past week was no exception and the
movement of prices has been highly lr-
regular at all times and at intervals in
clining towards the reacuonary side. The
aggressive attitude assumed by the
Northern Pacific toward Oregon NaViga-
ton il its policy to extend into disputed
territory has brought large blocks |of
Northern Pacific stocks to the market
from disgrunted elements in the owner
ship. The banking. interest which seems
to assume the task of maintaining the
price OF the stock in face of this hQuida-
ton is also known to be deeply interested
in the newly floated Federal Steel COM
pany.
Profit-taking in the Atchison securities
was on d large scale, and there was some
uneasiness felt early in the week over the
outcome of the Paris peace conference,
which, emphasized the inclination to sell.
The strained relations among the north
western railroads and the snowstorm
served to divert the buying demand to
other quarters.
The bond market has been active and
broad during the week and prices. with
few exceptions, are higher, though there
has been some irregularity in the move
ment at times
Z. S. 5s coupon have advanced z the
old As registered and the new is q and
the IS the SIS the old As coupon and the
5s registered Il per cent in the bid price.
The total sales Of stocks today We're
POI 500 shares including Atchison. 4,0S5;
Atchison preferred. S5,53S; B. & O.. all
assessment paid. 4490; L. & N, 800:
Manhattan. 7.740: Metropolitan Street
Ieflway a ASP: Reading list preferred, 800;
ssI6xthern Pacific Ana; St. L. & S. F.,
870l; St. L. & S. T. End preferred. 4,e57;
Union Pacific, 1880; Union Pacific pre-
ferred, 1000; St. Paul, 5,2lS; Southern
Railway. S,l30: Southern Railway pre-
ferred. $40: L. T. D. & c.. first assess
ment paid. 4550; American Tobacco, $500:
Federal Steel, $.SeS: Federal Steel pre-
ferred. il .056; Peoples Gas. $500; Sugar,
$500.