The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-21
This Stocks Erratic Fluctuations
Upset the Market.
MONEY RATES ADVANCED
CALL LOANS REACHED 9 PER
CENT YESTERDAY.
Sugar Dropped Eighteen Points and
Its Net Loss Was Eight-Rumors
That the New York Central May
Absorb the Union Pacifc-Activ-
ity In Bonds.

New York, March 20-The market, after
sensational movement in Sugar and the
local transportation shares, closed weak.
with mixed net changes. SInterest centered
largely in Sugar in which the transac-
tons We're over 191 600 shares, with a total
of about 100000 shares. Sugar opened with
an advance of about points, ran off 80
and then touched 1S2, with a subsequent
plunge of Is points, closing with a net loss
of about points. The extraor.. nary
movement of this stock had a wide infiu-
ence in other directions Brooklyn Tran
sit was lifted over 6 points and then lost
much of the gain. Pronounced strength
appeared in the Vanderbilts, Union Paci-
hcs Northwestern. the coalers and Chi
cago Terminal preferred. while some OF
the internationals made show of
strength in the early dealings, in Sympa-
thy with the higher range in London. The
tobacco stocks were extremely feverish:
American Tobacco broke 612, rallied and
left off with a loss of PA; Continental To-
bacco slumped 14A and was off 3 points
at the close. The liquidation in these
stocks was attributable to the reported
formation of a new opposition tobacco
company. Manhattan retained the greater
part Of a APPOINT rise.
There was a. disposition of the profess
Sional element to let commission house
purchasers have stocks, and subsequently,
while Sugar was tumbling and call money
reached 8 per cent, prices were freely
offered down. Standard stocks, while cas-
ing with the market, receded in an order
ly manner, and the reaction in those Sc
curities from the best did not exceed 2
points. except in special cases. Money on
call toward the close eased, with the last
loan at and offered at 8 per cent, but
the market failed to respond to the
changed conditions due to the supply of
money offered and the reaction was I'M
checked to the end. The strength in
Brooklyn Transit was coincident with the
published interview with the Brooklyn
a ci+ roll nod TO 1,n afpa hot
an exchange Of the majority of Brooklyn
Transit elevated stocks for Brooklyn
RAPID Transit stock had been arranged.
The advance in Union Pacifics and New
York Central was timed with the an
nouncement of the return of the leading
interest in Vanderbilt stocks and gave
rise to renewal of rumor5 that the Union
Pacific might be absorbed by the New
York Central. The opinion was expressed,
because of the action of the market,
that the rise in London, which was
lated from this side to facilitate the
liquidation which was evident in the mar
ket.
Bond prices today were raised by con-
& Southwestern issues, Texas Pacific IDS
and Wisconsin Central lists. Total sales,
So, $4,000. United States IS and the new As
advanced Il and the old As q in the bid
price.
Total sales of stocks today were SOS,SOO
shares, including Atchison preferred,
q, go; Burlington, 51,975; Central Pacific,
100; Manhattan, 80, 20; Metropolitan,
800; Reading 1st preferred 10, $50; Mis-
souri, Pacific, 1884; New Jersey Central,
u, 30; New York Central, 20, $50; Northern
Pacific, IA, 400; Northern Racific preferred,
!: Egg; Rock Island, $3.50: Union Pacific,
S7,0SS; st. Paul, 12,441; Southern Pacific,
1855; Texas & Pacific, 1850; Union Pacific
preferred, 1866: American Steel & Wire,
q. 500: American Steel & Wire preferred,
3125; American Tobacco. II, 140; Federal
Steel. 1859; Federal Steel preferred, 6.467;
Peoples Gas, $4,000; Consolida ted Gas,
3,11; Colorado Fuel & Iron, S1S5; Brook
Ign Transit, 31OSO; Sugar. 1851; Sugar
q. 40