The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-28
Outside Public Starts a General
Buying Movement.
ALL STOCKS ADVANCED
THE MOVEMENT CHECKED BY
HIGHER MONEY RATES.
Call Loans Reached Six per cent
Improvement In Railroads Caused
BY Favorable Earnings State
ments-Transactions Reached
Million and Quarter Shares.

New York, March 27.-Nearly all stocks
made advances today and some of them
were of material proportions. Various
reasons might be assigned for the move
ment in individual stocks, but the princi-
pal motive for the general rise was ap-
parently that the steady advance of
prices of late had again aroused the out
side public TO buy. The dealings reached
nearly one and one-quarter fnllnon SldIeS
Aggressive bull manipulation by the
leaders Of speculation had seemingly
caused the public TO cease waiting 1or
an immediate opportunity to secure stocks
at a lower level. The market opened
under an impetus Of higher quotations
from London and though large realizing
on paper profits was apparent from time
to time The advance continued pretty
steadily until near the close, when the
rate for call money reached per cent,
leaving the range for the day from 4 TO
g. with the last loan at 5. Quite number
of new high price records for stocks were
made today. The strength displayed on
Saturday brought large number of COM
mission house orders to purchase stocks.
This caused q pronounced rise at the
opening and induced the elimination of
many short contracts. The principal
activity WAS in the Flower stocks. there
being, for instance, $4,000 shares of
Federal Steel sold at the opening over a
range of four points and the stock made
earnings were large. Brooklyn Transit
rose 5 points on rumors that the Brook
lyn Elevated had one-half million dollars
in cash when taken into control by the
Transit company. The continued talk of
negotiations for combination OF the
gas and electric light interests of Chicago
was used TO the benefit Of Peoples Gas
to the extent of over a point. Among the
other sDecialties to make large improve
ments We're American Tobacco, 10; Con-
tinental Tobacco, /; Metropolitan, SO !;
Third Avenue. 1. and Consolidated Gas.
S@s. The largest Improvement among the
leading railways was 2% in Northwest.
February traffic returns attracted much
attention, as they covered the period dur
Ing which traffic was somewhat inter-
rupted because of the storms. St. Paul S
decrease of something over $4,000 in the
net was due to the increased operating
expenses the gross earnings having
shown an increase. In the case of Atchi-
son. the road again reported over SlSS, 600,
although the gross earnings of the road
southwestern railways Wabash showed a
net increase in February earnings of
nearly $4,000. The market closed with
no decided tone and heavy trading.
The bond market today made an ag-
gressive show of strength, heavy pur-
chases of the active issues being made
at substantial improvements. Total sales,
U. S. bonds were unchanged in bid quo
tauons.
Total sales of stocks today, 1882 900
son preferred, t2,54O; Central Pacific, 1890;
Burlington, 1920: Manhattan, 81, 200;
Metropolitan Street Railway, IS $50;
Missouri Pacific. $3.50: NJ K. & T, pre-
ferred- 5000; New York Central. H. go:
Northern Pacific, 1900; Rock Island, II. 600:
Union Pacific, I,175; st. Paul, 1890;
Southern preferred. u $50; Texas q Pa
cific. 800; Union Pacific preferred, II 0I0;
American Steel & Wire, q, 800: American
Steel & Wire preferred. 14.2T; Tobacco.
16. 400; Peoples Gas, $3.50; Consolidated
Brooklyn Transit 1915; Sugar 400:
Tennessee Goa! * Iron. 10. 400. Leather
preferred, 1.640: Rubber, 5000: ST Louis
q s: w. preferred, 5000; Chicago, G. w,