The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-11-04
Open Dealings In the Market Very
Animated Yesterday.
BANK STATEMENT TO-DAY
FEAR THAT AN UNFAvoRABLE
SHO WING WILL BE MADE.
Clearing House Institutions Have
Called Loans On Large Scale
During the Week-Money Not
Stringent, But Firm at 6 to Per
Cent-Grain Markets.

New York. Nov. 3-The opening deal
lngs in The stock market were very ami
mated and the course of prices vas up
ward. Continued activity by the various
pools was apparent in the stocks which
have advanced within the last few days
Heavy realizing was in evidence az j
very early period in the trading and the
snap was soon taken out of the upward
movement The volume of the selling was
much reduced below the best prices hut
the demand also fell off ard support
seemed to be Withdrawn from the mani
pulators of the specialtles. The course of
prices was generally downward for the
rest of the day. One or two efforts We're
made to check the decline. but without
great effect. The bears made no great
demonstration Until the final hour, when
prices touched the low point of the day
Covering by the shorts rallied prices but
they We're not well held. and the closing
was ratEer heavy and dull. The general
level of prices is lower on the day but
there are few exceptions. United States
Leather continued d conspicuous figure
IL the speculation and was rushed up an
extreme - points TO SsS. and closed .
company with its junior after a Use OF
nearly point and was decidedly weak
for the rest of the day declining an ex-
treme rs with a final rally of Is.
Dealings in Southern Pacific continued
on a very large scale but the stock at no
time rose more than q above last nights
level. Sugar dropped a point. rallied
:. and fell again below last nights level
Manhattan on the contrary, rose q point
but fell again no Ill and, rallied but teeb-
~. Standard Rope opened up q. and Their
turned downward an extreme pa. Brook
Ign Transit also developed weakness early
IN the day and went below 50 at ore time.
In the first five minutes of trading over
1.OC9 shares of Chesapeake q Ohio came
on the market with only slight impress
sion on the price These examples indi-
cate the prevalent disposition to take
profits for the long account. The ma
lority of railroad stocks were singulariy
neglected with the exception of some
early demand for the southwesterns which
gave way in the late weakness. During
the first two hours OF trading there were
but two transactions recorded in ST. Paul.
There was some selling for London ac-
count. but ii was well absorbed during
the early period of strength in this mar
ket The reaCtlonary tendency was due
to the growing apprehension of an I'M
favorable bank statement tomorrow.
Money was not stringent but was firm
at 10 s per cent The banks have lost
on sub-treasury operations some S26Sl. 600.
after allowing for receipts of $1,000 900 in
gold and government interest payments.
and including SS0e0e0 deposited at the sub
treasury for transfer TO the interior. Ac-
cording to statements compiled by the
leading banks they have made net ship
mentS TO the interior by express of nearly
s. 000.C9A. This would indicate a net loss
TO the banks in cash of over 81 600 Oeo The
clearing house institutions have called
loans on "A large scale during the week.
SO that this loss in cash is offset.fin part
at least Last Saturday statement was
believed to have made a more favorable
showing than was warranted by the
actual condition of the banks and the VaS-
aries of average of system may throw
some of the unfavorable factors over into
this week : statement.
Bonds. after some early signs of
strength, yielded in sympathy with
United States IS advanced y. the IS u and
the new - Is in the bid price.