The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-05-10
Stocks DemoraIized By Voluntary
and Forced Liquidation.
MONEY ON CALL STRONG
LOOK FOR THE GOVERNMENT
CROP REPORT TODAY.
Clearing House Balances, S1S,971,-
600, the Largest On Record
Credit of Over S13, 100000, Larg-
est Ever Liquidated at New York
Wheat Market.

was demoraliZed by liquidation, both vol
untary and forced, and values melted
away, with large interests apparently
apathetic. Marginal accounts were wiped
out. and nothing escaped the furious de-
cline. The continuance of bear pressure
disheartened many and resulted in shak-
ing out many commission house accounts.
The market was devoid of general new
features. but local stocks reflected fear
as to the probable effect of the Ford
franchise tax bill. which il was the gen.
eral belief would be signed tomorrow.
London purchased some 10000 shares, rem
der1ng an easier tone TO sterling eN-
change, and acting as the sustaining fac
tor in the early dealings. Money on call
was strong. ranging from 3is to per cent,
the latter being the quotation of the last
loan. Standard shares were thrown over
in some instances, TO protect specialties
that were receding at an alarming at an
alarming rate.
The forenoon show of strength was
practically continuous. Among the weak
est points were the Flower" stocks,
which had risen the most during the long
bun campaign, Brooklyn Transit suffer-
ing a net loss of ia. New York Air Brake
12A. and Peoples Gas over points. Other
declines among the specialties were Amer
lean Tobacco Il; Sugar and Steel Hoop.
612; metropolitan Street Railway, &; Con-
tinental Tobacco preferred, AZ: Manhat-
tan. ~; National Steel, 4, and CONSOLE
dated Gas 3. The railways suffered from
l to points loss, and there were 50 many
other weak spots that their enumeration
would be tedious. The bear faction was
constantly on the alert for vulnerable
points, and Stop-lOsS orders We're freely
uncovered. In some quarters the eXpecta-
uOn was entertained that the government
crop report to be issued tomorrow would
show little Improvement in the wheat
condition.
Clearing house balances today of SIS
9flOV were the largest on record, and the
credit balance of over 600 of the
bank which managed the payment Of the
Spanish indemnity was the largest ever
iquidated at the clearing house. The
sub-treasury debts balance Of over $Id,-
eooOJO is the largest since 1880 The clos
ing of the market was weak. but final
prices We're well above the lowest. the
total transactions for the day having been
considerably over 100000 shares.
There We're quite a few issues in the
bond market which ignored the down
ward tendency of the semi-speculative
mortgages, whose losses. however. did not
exceed fractional proportions. Total sales
50 $4,000 United States IS. the old is regis
tered and the 5s advanced Is in the bid
price.
The total sales of stocks today were
Log, 37S shares, including American Smelt-
ing. 800; American Steel * Wire "a 600:
American Sugar. $500; American Tin
conda, $500; Atchison, 5000; preferred,
$500; Brooklyn Rapid Transit. III 500;
Central Pacific, 800; Chicago. Burlington
d Quincy rights. 800: Chicago. Burling-
ton & Quincy. 2l,S90; Chicago Consolidated
Traction 1000; Chicago Great Western
400; Chicago. Cleveland Cincinnati e
Consolidated Tobacco. 81. 100; preferred.
100; Denver & Rio Grande. 300; Federal
Steel. SLIGO; preferred, 1900; information
al Paper. $500: Louisville & Nashville.
L, 400: Manhattan Consolidated $500:
METROPOLITAN Street Railway. 1900: Mis-
souri,. Kansas & Texas. 1900; Missouri
Pacific. $50; National Steel. u 200: New
Jersey Central. 1920: New York Central
10.0C0; Northern Pacific. 1900; Pennsyl-
Xanla, lSlOO; Peoples Gas. 3i,9Oo; Reading
fIrst preferred. l2,3O0: second preferred
600: Rock Island. u 700: St. Paul Q. OOO
Southern Pacific, 9,100; Tennessee Coal &,
Iron, 1850; Texas Pacific. 5.4O0; Union
Pacific 1880: preferred. IL 200; United
States leather preferred. 400: United
States Rubber. 800; Western Union, 400
Bond Quotations.
I. s. Is reg. Ss]2lM. K. & T, eds. 65al
[. S. Is COP, .1OSl4 \. Y. {. ists....1i5iSs
L. S. new IS reg. l29 N J. {. gen 5s..120
L. 5. new As cou. lzsl5i Nor. Pac lists I20
l.. 5. old Is reg. 1l215l Nor Pac IS 663.
L. S. old As cou. lISi4 Nor. Pac. 4s.....10Sss
L. S. 5s reg......112 my, C.&SL. 4s4l06ss
I: $ IS cou....-.ll2 \. q w. con. IS. 94s4
District 3 Cos. liz IN. & w gen Is 12I
Atchison gen Is. 1002t Ore Nav sts114
AJcnison adj. Is. s124 ore. Nav. 4sl03
Can So. 2ds..... 1l0la O. s l.. 6s..lS
c. q Q. As. "a o. s. L. con. 5s .III7s
= * u IS .llgl2 Reading gen. Is. S62t
N w. con. Is. .l423s r. c. w lists g7if
y w. deb. 5s....l21 SLAIN. en- as 1I01[ Z
Chic Ter. 100 SL&SF. en- rs. 12.if /
D & r. q. lists. 1855 St Paul Con.....16s
L. & r. q. Is. .102Is St p Cap lists 1225s
+ TN &c lists. .l059s SIP. C.&P. 5s. .123Is (
Erie General Is. - So. Railway IS. 10siS
F.W.&D.C. lists. Slja Stan r. q T Is S6i5
Gen. Electric IS. III Tex. Pac. lists lis
G.H.&S.A. 6s....lI4 Tex. Pac. dds -
g. S.A. IDS. HE L. p IS 1851 /
II. & +. c. 5s....1I3 Wabash lists if4i
Hate. con IS. .112Ib Wabash DDS " gq1 /
Ia. Central lists. lib West Shore as IJ4iL (
&C. lists. 65Ik Wis Cent lists coz |
L. * n. Tn As. 9S1s Colo. So. IS. Sc
Stock Quotations.
Atchison $500. us Rock Island I'LL