The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-10-27

New York, Oct 26.--The evidences Of
strength in yesterdays stock market at
tracted quite u large buying interest this
IporggIg and the market during the first
hour took an upward course, with very
active trading The demand. however,
showed a marked falling off during the
rest OF the day, and the Isolated points OF
strength which developed from time to
time proved unavailing to sustain prices,
ard the drift was dOwnwards until the
close wlnich was very generally at the
low point Of the day and at a level below
last night. The market during the 1IrSt
nour was conspicuous for the great
breadth of The demand. the number of
stocks which moved being no less than
125. The aggregate number of shares dealt
in was also very large. Broadly speaking,
TIE market was a reversal of that Of yes
terday. in that railroads were generally
inclined to react. while the industrial
stocks moved upwards.
The evidences of profit-taking in the
coalers, which We're manifest even in the
opening dealings, prompted selling tc real.
lze in the railroad list. The outside de-
mssnd for stocks was very much increased,
and ii was this which was fed by the pro-
fessional operators who have been accum-
Mating stocks at the lower level. At the
same time the vigorous strength of Sugar.
Tobacco. Brooklyn Transit, Rubber and
other industrials and the continued specU-
lation IN the Leather stocks helped TO sus-
tain the list while the realizing was going
on. These stocks all suffered to the extent
OF from ] TO over , points in the late down.
ward movement Inside support was man
ifeSt in some Of the newer industrials
which have been the target recently for
the bear attack. To c WIS notably true of
the Mating and G. VI )se stocks Mating
preferred leading WIN a rise of nearly
points OF the loW-priced stocks Stand
ard Rope q Irvine was brought forward
with an advance of 2la, half of which was
subsequently lost. The iron and steel
stocks also received attention. especially
Federal Steel. but gains in them were no
better maintained than elsewhere Other
stocks which were strong at different
times included Atchison preferred. on its
September statement of earnings South
ern Railway preferred and Chesapeake &
Ohio.
London was a buyer here. though on
smaller scale than yesterday. and sterling
exchange yielded a fractional increase.
Apprehension of an unfavorable showing
by the banks on Saturday was an influ-
ence IN the growing heaviness of stocks.
New York exchange shows some recovery
downward at others, and the outward
movement of money has not vet ceased.
The banks net loss 10 the sub-treasury
thus FAR foots up over $l,5O0,G93 for the
week. The rate for call loans dropped
suddenly near the close to > per cent but
only after The bulk of the days demands
had been met at 61a TO per cent. Lenders
Of money on time hold out for per cent
and exact choice collateral. The fact is
that some large interests operating in the
market have been lenders of money and
are calling their loans for their own oper-
atoms in stocks.
The dealings in bonds disclosed the same
breadth of demand as those in stocks.
many dormant issues being brought into
the trading. Standard Rope & Irvine in /
comes rose an extreme 3ls and reacted 2. I
The bond list reacted in sympathy with
stocks IN the latter part of the day, MAX
ing the changes somewhat mixed. Total |
sales, par value. 81, $4,000. United States
new Is registered and IS registered de- 1
clined u in the bid price