The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-21
Operations of Bears On the New
York Stock Exchange.
CALLING OF LARGE LOANS
BRINGS FLOOD OF INDusTRIALs
UPON THE MARKET.
Yesterday Day of Violent Fluctua-
tons and Great Speculative Ex-
citement On Wall Street-Move-
lnent of Prices Feverish and I'm
certain-Money Unchanged.


New York, Sept 20.-This was a day OF
violent fluctuations and great speculative
excitement upon the stock exchange. The
movement of prices was so feverish and
uncertain that the disposition among pro-
feSsional operators was generally 10
close up accounts with the day As a
consequence, net changes are astonishing
~ small considering the wide vibration
during the day, in only few instances
do they exceed fractions, and though the
majority of stocks are lower, there is a
fair sprinkling Of gains. There was a
time IN the morning when a long list of
specialties had advanced between ~ and
points and during the afternoon they
fell very generally 10 as much below last
nights level.
A range of between and points was
traversed during the day by the following
industrial stocks Continental Tobacco,
Smelling preferred. Colorado Fuel, Con
soldated Gas, Federal Steel, Manhattan,
Peoples Gas, Tobacco, Metropolitan
Street Railway and Tennessee Coal The
railroad stocks aid not move nearly SO
widely, as a rule but an extreme range
OF between rs and and 4s4 was traversed
by St Paul. Rock Island, Burlington,
Northwestern, Great Western a Chi
cagO q Eastern Illinois. St. Paul q Du-
luth Great Northern preferred. Reading
first preferred and Lackawanna. The in
dex OF the market ali day was Brooklyn
Transit. the dealings in which We're on
an enormous scale. With a total capital
iZatiun of $50, eco shares. todays dealings
IN this stock footed UP 2s5,1l5 shares 1t
advanced "a after the opening. fell ~ TO
a new low level at 7512 and then retraced
its course. rising points to SSls and clos
ing al the high level of the morning The
whole market followed in its wake in a
general way, though its erratic fluctua-
tons were impossible to follow at all
times.
The market was a gigantic speculative
fhrp1rubpfat The broke
down the gains which had been built up
in the morning, with apparently little eff
fort and dislodged some very heavy OF
fefings on the decline from holders who
had vainly hoped that the fall in prices
had come to an end. There was a large
selling through commission houses and
the 2lood of industrials poured upon the
market was said TO be due to the calling
of some large loans in which these
stocks figured as collaterals and had to
be sold to liQuidate. United States Mill
ing, which sold yesterday at 90. sold to-
day at "A, after first selling at 25 an ex-
IRENE decline of % points. The preferred
stock, after selling yesterday at 20, sold
today at So The closing prices for these
stocks were. for the common. 20q25, and
for the preferred, i0G5o.
There was no important development
today in the money situation. The rise
in New York exchange at Chicago and
the advance in the call loans at some
other eastern cities indicates that the
western demand for money has been
eastern cities. Considerable sums of
money are reported TO have been loaned
in New York during the week. The out
go. however. still continued. both to in
terror and TO the subtreasury. Foreign
exchange was somewhat easier. more
notably so on Paris and Berlin than on
London. AT this time last year, when
New York surplus reserve had fallen
below S5000,000 gold began promptly to
come in from Europe. Previous TO Sep
TENDER, last year, We had already I'M
ported over Sl00.000.000 of gold on balance,
while thus far this year the excess of ex-
ports of gold has been nearly S3OoO,0JO
Although the merchandise exports Tor
eight months Of this year is nearly SI5,-
OO0.0 900 less than last year, the unliquidat-
ed trade balance in our favor thus far
this year is, therefore. $2s,OO0OeO greater
than for the same period last year. Ster,
ling exchange is still nc in the pound
above the level at which gold imports
Bonds weakened in sympathy with
stocks but the movement was not wide.
Total sales. par value. $l,5l2.0O0. United
States bonds were unchanged in bid quo
Bond Quotations.
u. S. Is req. 1903 n. Y. c. 1s..,,...111A
L. S. IS reg. .l0Si9 n. J. c. gen. IS. 11gl2
L. s. IS coup .lOsss Nor. Pac. Iss....llS
L. S. n. As reg..lS0 Nor. Pac. 3s...-. 66.
L. s. n. as coup-l39 Nor. Pac. 4s...A .i0312
L. S. o. 4s reg Ills n. Y, G. 4 81.
L. S. o. Is coup. 1884 L. As ...,.rs. l0i1s
L. S. 5s reg. 1lls4 N. & W. con. IS. "a
Il. S. IS coup. nlS4 General Is -. .l35
ID. c. 3 65s.....Ii7 Ore. Nav. Is. 1I5
Atch. gen 4s .l0lN Ore Nav. .l0l5s
Adjustment As. S6 0. S. L. F........12I
Can. So. 2s...... .l09i2 Consol 5s 10
c. a. o. 41ss...... g5le Reading gen. As. S6S4
C a O. 5s........ llS14 r. g. W. ISL. g7s4
{. a n. con- Is las ST. L. a Iron M
De5enture SIS .l2g consol IS .......112a4
Chic. Term. As. 96l4 ST. L. & San T.
ID. AZ r. G. Is. .l06ls general 6s.....l2+12.
ID. a. r. G. As 9gl9 ST. Paul CON-. 1884
r. r Y & G. Is lO4 st p, c q p Is. .i2l
Erie gen. Is. 7Ok St p, c & p as. III
It W. q Den So. Ry. 5s.-... .10S24
city Is ........ IS STANDARD Rope
Gen Elec. 5S....116 a Irvine 6s -. IS
G. II. * S. A. 6s los Tex. & Pac. Is..1l5
g. II. y s. A. Is. Jos. TEX. & Pac. 2s.. 81
II. * r. c. 5s.-.-1l0S4 Union Pas. As. .l0s4
Consol 6s I'LL c. q 5. 49,. $50
la. Cent. ls..lle wabash Is -1l5A
X. c. i. & @. Is 709s Wabash IS ...... 100
l. * n. L. 4s.... 99s4 West Shore ISLES
M * & 7. 2s.. 70 Wis. Cent 1s.... a
NJ, X. * T. As, SO