The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-26
Spectators Gain Confidence From
the Improved Situation.
LEGISLATORS GO HOME
REMOVING A MENACE TO
TRUSTS AND COMBINES.
Adjournment Of Legislatures Restores
Confidence In Trust Stocks That
Have Escaped-Improvement In
the Money Market-Financial Re-
view For the Week.

New York, March &.-Stocks were very
strong today, and with the transactions
of over half a million shares in the two
hours session, material gains were quite
general and the quotations closed at about
the best. Expectation that the bank
statement would be favorable was an
early incentive for purchases, and when
1t appeared, although showing an increase
of about five and a half mmlions in the
discount, the decrease of only half a mil
lion in the surplus reserve received a ia
Vorabie Interpretation, and most stocks
continued their progress Upward. 1he
firmneSs for American securities in Lon
don, in anticipation of the fortnightly
settlement, the temperance of large fac
Tors III the market, less Apprehension as
to the monetary situation, and the near
ness of the close of certain state legis-
latureS, were all assigned as reasons for
confidence in market operations The
announcement was made of the formal
ransfer of the Brooklyn Union elevate
10 the Brooklyn Rapid Transit company,
the stock of which rose AZ points on large
dealings. There was a jump Of 4 points
in Long Island Railroad, which is under
stood TO have a working arrangement
with Brooklyn Rapid Transit. There were
sympathetic advances with Transit in
ouher local transportation shares, Metro
politan figuring for AZ, Third Avenue 4,
and Manhattan a fraction. Among the
industrialS, Continental Tobacco preferred
got up 2A, Federal Steel ia, Peoples Gas
l, n Consolidated Gas 8. Among the
Nanderbilts there were advances of 1L2
in New York Central, and / each for Illi-
nois Central and Canada Southern. In
creased interest appeared among grang-
ers, with improving prices, Burlington
leading with ~. Strength was also dis
piayed by Atchison preferred, Southern
Railroad preferred and st. Louis * San
4 francisco.
Although most loans were made on Fri
day 20 carry over until Monday, the fact
that call rates ruled today at 4 per cent
was favorably commented upon, and the
market closed strong
About Seven-tenthS of the stock dealt
in on the exchange advanced this week.
The dealings. which were about half a
million larger than the week previous,
We're mostly influenced by the monetary
situation, and the interest attached TO
the bank statement was largely as to
whether it forecasted easier or tighter
money. Judging by the course of prices
after the bank statements appearance,
SPECTATORS seemed to have the view that
for the present call money would not get
above the weeks figures.
The highest rate Tor call money accom-
modations, 9 per cent, was reached on
Monday. Subsequently the rate gradual
y. eaSed off, and closed at 4 per cent, only
slightly above the lowest figure. Not
wins anding the h gh rates for call money
prevailing through the week. exchange
ruled rather firm, showing that imports
OF geld were unlikely.
The Vanderbilts were strong, New York
Central making the extreme rise of nearly
8 points; Atchison preferred and Union
4 dNlllC DItleTT6u were neItene0 TO the
extent of about 3. Among the Specialties
there was pronounced irregularity. Brook
lyn Transit, on fresh acquisitions OF con-
uSuous lines, rose Is points. The trans
actions in Brooklyn Transit were nearly
three-fifths of a million shares. and the
activity and interest in this sluck was
spread over nearly the whole week. Sugar
was second in activity nearly half a mil
lion shares being dealt in. the bulk of
which were in the early part of the week.
H0O.OOJ shares changing INC on Monday.
and the highest quotation in the stock S
history, lS2, was reached. The stock fluc-
tuated rapidly down and up. las being the
lowest, and closing with a net loss of II
points.
The weeks bond market showed a gem
orally healthy tone, with notable improve
znents in many securities.
T.. 5. new As. registered. advanced 81:
do coupon, Is; the 5s, the IS and the old
IS. oupon 4, and the As registered, q in
the bid price.
Total sales of stocks today were SAT, 500
shares. including:
Atchisen, 1925; Atchison preferred. As
DO; Burlington. y, 4S5; Denver q Rio
Grande, 5000; Louisville q Nashville. 1850:
Manhattan. 1880: Metropolitan. $3.50:
Missouri Pacific, 800; Northern Pacific.
9, 40; Northern Pacific preferred, 1908;
Rock Island, 7.540: Union Pacific. $40: st.
Paul, l0,705; Southern Pacific, $3.50: South
ern preferred, 1925; Union Pacific pre-
larred, 1875; American Steel & Wire, g.
65c; Federal Steel, 30,915; Federal Steel
preferred, 11.6l5i Peoples Gas. 1l925: Con-
solidated Gas. 1880; Brooklyn Transit,
Iron, $500; Chicago Great Western, 49,