The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-21
New York Stock Market Shows a
Slight Improvement.
FEW POINTS WERE GAINED
TRADING WAS NARROW AND OF
A PROFESSIONAL NATURE.
Tone of Speculation, However, Was
Better-Entire Absence of Com
mission House Buying-Indica-
tons That Money Stringency In
London Is About Over

New York, 20.-Today's stock market
continued narrow and professional but
there was an improvement in the tone
of The speculation In the late market a
rather active buying movement set in
and prices rose to the top level of the
day, gaining a point or over as compared
with last nights price IL many cases.
There was an early reaction which was
encouraged by .he violent slump OF y
points in New York Air Brake and an
extreme drop of five points in Console
dated Gas. There seemed 10 be an entire
absence of commission house buying ana
London, although prices OF Americans had
been advanced there. refrained from
operating here. The course of The foreign
exchange market with reference 10 the
easier money conditions abroad was
closely watched and when sight sterling
and cables were seen 10 be yelling II
afforded considerab bic relief from appre-
hension OF gold exports. The fact that
the Bank OF England RETAINED from ad-
Vancing its rate OF discount was taken
as evidence that the threatened money
striigency is about over there. Money
worked easier in New York but continued
above the rates prevailing at interior
points. There was some growth OF d con-
Nlct1On that money was not 10 BeCOIle
cheap for a considerable period, yet, ow-
ing to the needs of the very active trade
md the coming movement Of the crops,
he heavy increases of bank deposits at
some Of the large financial centers Of the
country are understood 10 be due TO the
great combinations of industries and the
resulting establishments in business meth
COS which have. it is believed, reduced
resources at some smaller points in i
degree corresponding to the increase at
the great centers.
There was some continued uneasinesS
also over evidences Of unrest amongst
wage earners. The strength of the local
traction stocks helped TO dissipate this
selling Brooklyn Rapid Transit and
Manhattan gained about u point net and
cash sales of Metropolitan were made at
3@4 over last night. This stock also sold
eX-riShts of SUBSCRIPTION to new stock at
d uniform level of - points below the
case sales. Consolidated Gas recovered
all of its earlier loss and New York Air
Brake all but points. The early strength
was not held in some of the industriaIs,
notably Continental Tobacco and the
steel stocks. Pittsburg, c. c. q st. L.,
was marked up five points on the June
return of earnings and an upward move
ment in a Chesapeake d Ohio. Missouri,
Pacific & Cleveland, c. c. & St. l. spread
to other railroad stocks including the
grangers. Southwesterns, New YORK Cen
trail Union Pacific and AtchiSon pre-
ferred The average gain of these APP
proximated A point. Chicago Great west
ern debentureS lost 1S4 from the last sale
Leather preferred was in good demand.
The closing was duh but firm.
Bonds were very dull and rather IT
regular Total sales par value. S2.25S.Vto
United States SIS coupon and the new IS
registered declined Is while the 5s ad-
Vanced Is and the old As coupon Il IN the
bid price.