The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-30
Fluctuation OfStocks With No Sci
Sational Incidents.
THE BIG RISE in SILVER
REACHED THE HIGHEST POINT
IN TWO YEARS.
Certificates Traded In Represent
354, 900 Ounces of the White Met-
al-Interest In Copper-Decrease
In Bank Clearings-Large Opera
ton In Bonds-The Wheat Market

New York. April 29.-The market was
heavy practically all day, and while d
number of material recessions appeared
the general railway list suffered, but
fracuonally. Stocks affected by the bill
taxing corporation franchises in this state
suffered the most. Metropolitan lost over
points, Brooklyn Transit and Consoli-
dated Gas nearly q, Manhattan Il point,
put Third Avenue was an exception, ris-
ing , points on small dealings on eXpecta-
Ton that that company would bid for the
underground franchise.
The traders We're early sellers in eXpec-
tation of bad bank statement but they
covered when II appeared, showing small
changes. the reserve increasing about half
a million. The absence Of commission
business ana weakness Of local stocks
caused the market to ease off again, clos
ing weak. London was u purchaser of a
moderate amount of stock. Among the
strong spots We're Canadian Pacific and
Colorado Fuel, which advanced Az and )
respectively. Practically 90 the industrial
stocks We're weak.
Stocks gravitated to Il lower level this
week. with considerably diminished out
side demand. and such changes as did oc-
cur We're mostly in comparatively active
stocks. Much rent receipts for many rail-
roads, covering as it did period Of un-
favorable weather conditions. generally
showed results below expectations. The
gross weekly returns appearing for April
on the other hand shows an increase in
traffic.
The seeming desire of the Filipinos for a
cessation of hostilites makes ii evident
a favorable decision will be reached in a
short time. The diplomatic strain with
Germany, owing to the public remarks Of
certain naval officers as regards the Situa-
ton in Samoa and the operations at
Manila, is practically over. The money
market showed strength in the latter
part of the week in expectation of May
dividend and interest requirements. and
the necessity of financing tie amalgamat-
ed copper industry next week, Sterling
exchange was strong in anticipation or
London sales. particularly of Anaconda
mines. The Spanish indemnity is yet to
be arranged for so that authorities be-
neve that exports of gold are not an
ticipated, while call money rules in New
York at about double London figures un-
less England should return to America
other large holdings Of American stocks.
The bank clearings decreased compared
with last week, rejecting the fact that
speculation in stocks diminished 10 little
over 100000 shares during the week, but
the general business of the country con-
tinued large and trade recorded no eX-
pansion in the business of the country.
Business in silver certificates, after
long period OF comparative inactivity, rose
cents to %, closed only ! cent lower.
The price attained for the white metal
was the highest in over two years. and
the certificates traded in represented S14.
upe ounces. Inc lGdulllS III -AllaCONud mil
ing. which made Il net rise of 12l2, closed
only a slight decline below the best. the
sales reaching nearly 100000. The trade
in this stock was associated with the
statement of Incorporation of the copper
trust" which was to embrace this COM
pany. If the trading in Anaconda, to-
gether with the trading in the Green and
several other stocks be subStracred. 1t VIII
be seen that the trading was very narrow
and that the standard shares were very
much neglected.
Crop uncertainties, together with the
decrease of 117000 in Burlington's surplus
earnings for March. left the SrangerS
fractionally lower. The professional ele-
ment is largely bearish on certain stocks
which have experienced an unusual rise,
while the rank and file are generally dis
posed to hold tenaciously TO their stocks
ON the belief that the present market Is
but a halt. and that bulliSh enthusiasm
viii arouse stocks from theid lethargy II
bountiful crops are assured For the
week the iron and steel shares were IT.
regular to the extent OF point or so.
Important changes not hltherto men
toned are: Advances. Third Avenue, 10;
Canadian Pacific. 95s; Minneapolis * St
Louis. 5ja: Minneapolis & st: Louis sec
Sis; Tobacco. ~: Manhattan, AS, and
Delaware & Hudson and Brooklyn Union
Is. Az.
Operations in bonds during the week
We're on q large scale and many OF the
meGium-priceG Issues made handsome adj
Vances. The fact that several states nave
laws impending or enacted permitting
savings banks to invest in certain high
class railway bonds. has tended to en-
nance the value of such mortgages. Spec
llation generally. too, was strong and
confident. the absence of real stringency
in the money market forcing the employ
ment of idle funds into mortgages which
return a fair rate Of interest United
States As registered advanced u the new
As registered "a. and the new Is coupon
and the IS registered i in the bid price.
The old Is coupon declined Is.
The total sales of stocks today amount
ed to 259S45 shares. including American
Steel e Wire 1000. American Sugar.
~ 500: Anaconda Mining. 1200: Atchfson
preferred 800: Brooklyn Rapid Transit
Co, d. 200: Brooklyn Rapid Transit Rights,
s. 100: Burlington, 5l.5e0; Chicago Con
Traction. 1000; Colorado Fuel & Iron.
4 coo: Consolidated Gas. $500; Continental
Tobacco. 500: Federal Steel 400; Iowa
Central. $500; Louisville 4 Nashville,
3 800: Manhattan Con. $3.50; Met. st. Ry.,
: con: Mexican Central. 3.400: National
Steel. 100; New fork Central. 600; North
American. 200: Northern Pacific. 5000:
Pennsylvania Railroad. >, 600: Peoples Gas
& Coke $50: St. Paul. 4.S00; Tennessee
Coal, 9. 400; Union Pacific, $500.
Bond Quotations.