The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-29
Futile Attempt to Strengthen Stocks
In New York.
WAS RALLY AT THE CLOSE
BUT DID NOT BRING PRICES
BACK TO TOP LEVEL.
Good Demand For American Securi-
ties In London - Feature of the
Day Was the Dealing In New
York Central - Strong Movement
In Some Railroads.

New York, June 2S-An effort was made
to repeat the demonstration of strength
in the stock market which was given by
the outburst of activity and strength
which carried prices to the highest in
the closing dealings yesterday, but with
only partial success. Manhattan was
rushed up TO a final quotation of 49,
which was Y above last nights price. as
New York Central was rushed up late
yesterday. The sympathetic effect on
the general list was far below that of
the New York Central movement. De-
cldedly the most significant feature or
the days trading was the cessation OF
the upward movement in New York Cen
trial stocks. There was an active opening
and advanced almost a point: The c.
mand was evidently soon satisfied for the
time being and the movement lacked
snap. The price was allowed to lag
There Were various factors of strength
in the days developments which pre-
vented a break in railroad stocks. b.t
there was obvious profit-taking at some
points and the days advances are small
except in a few cases. The rally at inc
close did not bring prices back TO the
top level. The most potent factor in ia
vor of the bulls was the disposition man
ifested toward American securities in
the London market. This was in face OF
a tendency to dizziness and trading IN
the market there. The takings for Lon
don account in the market were estimated
at 5000 shares or upwards OF various
stocks. The demand was most eager Tor
LOUISVILLE ~ NASHVILLE. winch rose nearly
points on the London demand. Various
rumors were in circulation of an aD-
preaching increase in the dividend rate
TO account for the rise. Southern Rail-
way preferred was strong in sympathy.
The effect of the London buying was
shown in a drop in the actual rate -o-
demand sterling to 1879, thus Drecludng
the likelihood of further gold exports al
the present time. The industrial stocks.
which had been entirely neglected. were
taken in hand for a rise near the close
under the encoura cement of the strength
manifested by Sugar and American To-
bacco. They proved rather heavy to lift
and dropped off Continental Tobacco and
Federal Steel being especially weak. The
firmness at the close was on short COW
erings induced by the final squirt in Man
haitian.
Railroad bonds We're moderately active
and strong. Total sales. par value. g
az. zoe. United States As coupon declined
Il in the bid price.
The total sales of stocks today were
5000: American Sugar. SO. 500: Atchison
preferred $500: Brooklyn Transit, 3d.
800 Burlington. 2S.700; Continental To-
bacco. 400: Federal Steel $500; Louisville
Northern Pacific. 5000; Peoples Gas
$500: Reading first preferred. $500; Rock
Island. $500: St Paul % 100; Southern
Railway 500; Southern Railway pre-
ferred $500: American Tobacco. 6,4O;
c. & o.. 1890: Chicago & Great Western,
sas e Texas preferred. 5000: Missouri
Pacific. $500: New York Central. 20090;
North American company. 4HO; North
western 1000; Pacific Mail. 5000; Pennsyi-
vania 16. 800; Southern Pacific, $500; Ten
nesser Coal & Iron 5000 Texas Pacific.
1900: Union Pacific 1860 Union Pacific
preferred, 5000; silver bullsa certificates,
10 coo.