The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-06
MARKET WAS 81 UGG|SH
Erlivened Only by Slight Movement
in Few Individual Stocks.
RAILROADS MARKED UP
UNION PACIFIC FOLLOWS
NORTHWESTERN ADVANCES.
Rates For Call Money Firm at 8 Per
Cent-Outside Banks Transferring
Their Deposits On Large Scale
From New York to Other Cities
Chicago Wheat Market

New York, Sept. 1.-THE buoyancy of
handful of individual stocks gave an APP
pearance of considerable strength ana
activity to the stock market, but OUTSIDE
of these few stocks the market was mar
row and apathetic to the last degree
Shortly after the opening Northwestern
was marked up sharply and the usual re-
the Vanderbilt group, Union Pacific also
following the lead. As was the case last
week, the heavy offerings of Union Pa
cific brought out on the advance checked
the enthusiasm. of the buying and oper-
atoms in that particular group were for
the most part discontinued, Northwest
ems extreme rise was AS the preferred,
S points above the previous sale; Omaha
g. New York Central and Union Pacific
over q point. New York Chicago and
st. Louis stocks advanced from w to
points on a rumor that judicial aid was to
be sought to enforce asserted rights to
dividends. The coalers We're in good de-
rnand. Lackawanna leading with rise
of 3la. Gains in this group were not
maintained entirely Other railroad stocks
which rose a point or over were st. Paul
preferred, Colorado Midland preferred,
Wheeling & Lake Erie second preferred.
Hooking Valley and Chicago Great West
ern preferred IA and 3D. stocks. Trans
actions elsewhere in the railway list were
quite insignificant.
There was a slight response in the early
dealings to the depression in the London
market. The bulk of the trading was
in the more volatile specialties. Tennes
see Coal was the most conspicuous figure
in today's market. After dropping frac-
ton it was aggressively lifted by sue
sessiye stages g fun points and closed
at 10S,3 the top prices: Colorado Fuel APP
parentlys sympathized with its movement
and rose an extreme 5$s
There was good demand for Republic
Steel at an advance of 21a, and Federal
Steel rose point Otherwise the iron
Spouse. The New. York municipal stocks
including both the gas and traction
stocks were quite buoyant and show gains
of from 2 to points, the latter, Metro
politan Street Railway and American To-
bacco rose an extreme 8 points. and Sugar
rs. Chicago Terminal Tranfer preferred
gained 2.
Rates for call loans were firm at 8 per
cent or over and the first deposits of
money at the sub-treasury for shipment
to the south amounting to 100000 were
item of due to other banks in the state
ment of New York national banks is
cited to explain in part the recent drain
in deposits of New York banks. A coin
Philadelphia national banks indicates that
outside banks have transferred their de-
posts on a large scale. from New York
the rule of New York clearing house
banks lately enforced to charge for col
lection of checks from outside. points.
The announcement last week of the with
drawal of a prominent trust company
from the clearing house privileges with
its decision to discontinue the practice of
charging for the collection of outside
checks has brought the subject promi-
nently into notice. One effect evidently
will be to shift part of the demand for
money to move. the. crops from New
York to other cities which have increased
their deposit account by the deposits of
eastern and southern banks.
The bond market was quiet and changes
were small and mixed. Total sales. 81
$4,000. United States bonds were I'M
changed in bid quotations. {.