The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-05
MONOPOLY THRONED
Industrial Combinations and Trusts
Reach Colossal Proportions.
RECORD FOR TWO MONTHS
CAPITALIZATION OF NEW TRUSTS
AGGREGATE S1,5oo,ooo,ooo.
Demand For Money to Finance
These Trusts Has Caused An Adj
vance In the Loan Rates-Un-
favorable Bank Statement Affect
ed the Price of Stocks.

ed the Price of Stocks.
New York. March 4.-The stock market
today worked under the impetus of yes
terday's movement until the appearance
of the bank statement, showing a loss of
| over S5,0O0,000 in the surplus reserve, and
another expansion in the loan account.
| the recession being from to 2 points, and
the standard stocks moved fractionally
below Yesterdays figures A good tone
prevailed on the London exchange for
| Americans, but adviceS rs TO the nature
| of the purchases were conflicting, some
| intimating that the movement was fni-
tiated from this SIDE while others affirm
! eds it to be confident buying for English
| investment account. There We're sharp
advances early here in the steel stocks,
| the anthracites, Tobacco, Brooklyn Tran
| sit, General Electric ana prominent rail-
ways the latter improving a point in
some cases. Some of the large bull in
! tereStS seemed to lend support to Bur
lington and the steel stocks. New York
| Air Brake was a very strong spot after
| the appearance of the bank statement,
| when everything sold off. Many of the
early buyers threw over stocks and the
market closed weak at the lowest.
| Stocks in which losses occurred for the
week outnumber those which advanced
over 212 to l. The market opened with
a show of strength on Monday and there
after sagged until Friday, when a better
tone prevailed up to the appearance of
the bank statement. when prices eased
off The more prominent declines were
| Third avenue railroad, q; Metropolitan, Z;
Pittsburg, Columbus, Cincinnati q st.
Louis, 8; Burlington, Central Pacific and
Pacific Mail 4 each. The underlying con-
ditions We're no less favorable than form
erIy, while there were many evidences of
prosperity in commercial and financial
| circles.
The prevailing feeling of confidence was
reflected by the advance in the wages oe
iron and cotton workers in various sec
| tons of the country. The balance OF
trade, which it is usually considered de-
Ponds so largely upon the foreign de-
mand for cereals, was strengthened very
much by the increasing exports of do
nestle manufactured articles. which are
exceeding the imports by about % per
cent. Indeed, the exports of such articles
average in value a million dollars for each
working day.
The gradual contraction in the surplus
reserves shown in the weekly bank state
ment, together with an expansion IN the
loans, cannot be regarded as remarkable
when it is considered that money mas
been needed to finance many railway
deals. but more particularly colossal in
dustrial combinations. The capitalization
of such concerns organized within two
months exceeds 81, 500, 100000. Large sums
Were required to care for American. stocks
returned from abroad, but there were in
dications that some of these. stocks were
already beginning to be reshipped to Lon
DON A hardening rate for money ap-
peared at one time, call money touching
AZ but eased off to 212. per cent. The
higher rates were established on securl-
ties which lack an active market. 1t is
usual for money to be moving toward the
interior at this time but the temporary
appearance of a higher rate started an IN
flux of money to New York. .
The imports of nearly $25. 10000 in gold
at San Francisco within. the last seven
months has not ATTRACTED much attention hoI,
been fully reflected in the weekly bank
statement of New York institutions from
week to week.
very irregular with marked undertone
of firmness. =. S. IS and the IS ad-
vanced y, the new As registered *. new
As coupon IS, the 5s Il, and the old As reg
' The e total oi.l sales of stocks today We're
400, 400 shares, including 6;5l9 Atchlson'
| "a, 49O Atchison preferred; 1852 Burlington:
Pacific 'S1H Is. 400 Ontario & Western, $3.50
Rock island ,430 Union Pacific, $40
st. Paul, 400. Southern Pacific, ESQ
"a. 1874 Steel 10.134 Steel preferred, $500 Peo-
ple's Gas. $3.50 Brooklyn Transit, 1854
Sugar, 7,19O r. c. & /.
BOND QUOTATIONS.
U. S. IS ..........1O714 Nor. Pac: Isl Is,
.. S. IL As r......129 Nor. Pae. 81. 6s2s
i. s. n. As c......12s Nor Pae. A. e l0z1S
+ s 2s....... 99l.lN & ". IS. 1909
II S rs 11212 Northw. con.....143
II s rs coup. .112i5 Debenture. IS. .122
district 3 65s.1l7 lOre. Nav. 1s.....1n
Gtchison Is 1919 Ore Nav. 4s.... .101&
Adjustment As. S31a o. S. l.. 6s, t. +. .12S12
can So. 1u9 10. S. l.. IS, t. +. .1l01a
g g. o. 4l1s 925sI Reading As 500. S9la
chic, Term. As. 9615i r. G. w. Is. 94$
c. & o. 5s.. .IS12lSt. l.. d Iron M.
c., H. & d. AIS. 104fsl con. 5s -.;....,..A4
D. x Z. G.. Is. .10S42lSt. l.. d San +.
D. & r. G.. As .1G0% gen. 6s .......IliA
East Tenn. Is. .10i$4 St. Z. con. 464
Erie Gen 4s 7215I st. 2. c.. & Z. .122119
Tt w q Den. St. p. C. & 2. IS POS
lists t. r.... S41bI South. Ry. 5s.. .10515
Gen. Elec. 5S.. liz Standard Rope
c.. H. & s. A. 6s. 100 x Irvine 6S.... Sl12
G.. H. & S. A. IS ITO T. z. IL. u. 1S LIZ
II & r. C. S. HES Reg. Is 1900. 531s
II. & 7. C. ....11l72lU. 2. As -, .I043s
Ia. Cent. 1S.......1OI U. p, u: & G- is ~
T. & n. U. As. 951s Wab. LIST 5s......1l5
Pac con Is 1l5la Wab. Ends ...... 81
NJ, K. & T. Is. 6l7sl West Shore As. IL
NJ, K. & T. 4s... "a Wis. Cent, Is. By
n. Y. c. Is. .....11512' Colo. South. As. e1A
n. j. c. 5s.......1fl
STOCK QUOTATIONS.
Atcbison 22ASt. l., Sc, S. W.. 91s