The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-29
STILL HOLDING BACK
Traders Are Coy About Coming For
ward On Stock Exchange.
LACKING In CONFIDENCE
DEALERS YESTERDAY RANGED
THEMSELVES ON LONG SIDE.
Bank Statement Today Is Expected
to Show Another Loss In Cash,
Owing to Operations With the
Sub-treasury - European Market
Affects Conditions In New York.
z.

New York, July 2S.-Today's stock mar
ket was strong early, and traders gener-
ally ranged themselves on the long side.
The shorts took alarm from yesterday s
rise and the continued upward tendency
this morning and covered rather extensive
lines. London marked up prices before the
opening here and bought up considerable
amounts IN this market. Tine sentimental
effect OF this buying was even more pro-
nounced than the direct demand for
stocks. The recovery in French renteS on
the Paris boufse had stimulating effect
and part of Londons buying OF Amerl-
cans was reported TO be for the recent ac-
count Taken all in all, there was suftl-
Gent demand for stocks TO run the bust
ness up TO within 5000 shares OF yester-
days total transactions and considerably
over the total for some days OF this
week
Business fell off. however. very notably
in the afternoon. The public showed 1tself
still coy about coming forward and bull
operators, in consequence, proceeded TO
take profits on the advance. The stocks
which had advanced yesterday ana me
day before were especially affected and in
q number of cases were carried below
last nights level. St Louis, Southwest tern
stocks, Kansas * Texas preferred, Lake
Erie * Western and the trunk lines were
examples. There was, nevertheless, an
eppreciable increase in commission house
business. This was conspicuous in the
grangers, Burlington leading on account
Of the benefit TO the crops from rain.
rhe coalers were notably strong on the
approaching operation OF higher scale
OF prices, and Lackawanna, which, in ad-
dition enjoyed the benefit Of reported
commission with New York, Chicago az
ST Louis, rose an extreme points. Louis
vile was the leader of the market con-
sidered as to strength and activity. II
closed at the top price at net gain or
23s over yesterday. Since the dividend OF
> per cent was taken off yesterday morn
ing the stock has risen Ia points
There was an active demand for sugar
all day. and the price went to lblSs Ma
tional Steel was strong on the reported
requirement of new property, and Brook-
lvn Transit rose an extreme IA Ihere
was a belated upward movement in some
of the southwest stocks, not heretofore
affected Denver & Rio Grande preferred,
Southern Pacific, st. Louis q San Fran
cisco second preferred, and the ST. Joseph
a Grand Island stocks gained from l 10 D
points. The late realizing movement car
RED prices down from the best and the
market closed dull and easy.
Tomorrow bank statement IS expected
10 show another loss in cash, owing to OPP
erations with the sub-treasury, the other
has bee,, net gain on the interior move
ment. Sterling exchange was sVeak and
lower on account of London buying OF
stocks here and the increased supply OF
commercial bills.
Bonds did not respond fully to the
strength in stocks, but prices are Sener-
aIly higher Total sales, par value, "
12S. 600. U. S. 5s, regular, advanced IS IN
the bid price.