The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-13
BUSINESS WAS HEAVY
Large Buying BY Powerful Interests
In New York.
TRY TO ADVANCE PRICES
NEWS FROM PARIS CAUSES A
REACTION IN STOCKS.
Engagement of Gold For Export AL
so Weighed On Market-Money,
However, Continues Decidedly
Easy-Sugar Fluctuated Up and
Down--on Chicago Board.

New York, June 12.-There was evil
dence of large buying by powerful finan-
cial interests in a limited number OF
stocks and of manipulation to advance
prices in the stock market today. Specu-
lation otherwise was in somewhat
Quiescent state. Outside of the special
c2ses where prices We're supported, the
business done was rather heavy. MANY
of the railroads ranged downward within
the limits of d point during the early
tradlng. There was an organized buying
throughout the day of Federal steer
which was marked up nearly points and
closed almost at the top. There was some
sentimental effect eXerted by this on
other steel stocks, American Steel * Wire
responding late in the day on covering
by shorts. But none of the gains in the
group were well held outside of Fedora!
Steel. The so-called Flower stocks Were
all well supported and BROOKLYN Transit
shared its strength with Metropolitan
steady and Manhattan. This group of
New York traction stocks showed the
effects of realizing from time TO time
during the day and Manhattan was
dragged below last nights close by its
weight.
The grangers were taken up at one
time st. Paul in the lead. but did not
retain all OF the gain and in some in
stances more than lost it. The eoaiers
were pretty well sustained also. Other
points of strength We're Chicago Terminal
preferred, D. & Z. G issues and the
Sugar fiuctuated up and down during the
whole day. but always above SATURDAYS
level. It rose at one time points, but
lost it all before the close.
There was no evidence of outside de-
mand TO keep the market up and the
railroad group showed itself affected by
the heavy tone of the foreign stock eX-
change on account of political Dispute
tude. The announcement of the resigna-
ton of the French ministry helped the
late reaction in prices. The engagement
OF an additional 81 600 of gold for ex-
port tomorrow although the probability
of it had been intimated also weighed on
the market.
No effect was apparent in the money
market, which continued decidedly easy.
Exchange also. though ii hardened
shade, continues about fraction below
where exporters can figure profit on
gold exports. Il is in fact generally ad-
nlitted that the gold movement is due
10 the actual buying of gold in this mar
ket to replenish the reserve of the Bank
of England and probably also for Russian
purposes. This is a precisely similar
operation to that undertaken by the
United States government through
syndicate to replenish the gold in the
treasury during the last administration.
1t is to be noted that while the foreign
money markets are thus drawing on New
York for GOLD as the most available
source. New York banks are Offering
special inducements, such as paying the
expressage on bills RENTED by interior
correspondents to- secure supply of
legal tender notes to meet the demand of
active business conditions.
The market for railroad bonds was dull
and sluggish and changes are mixed
Total sales par value, S2.5O100O. United
States IS and the IS declined Is in the
bid price
COS. $50 shares. including: American Steel
& Wire. AZ. 400; American Steel & Wire
preferred. 300; American Sugar. 500 200
American Tin Plate 1890; American To-
bacco. $500: Atchison preferred, 1860;
Brooklyn Transit. $500; Central Pacific.
1900: c. B. & @. $500; Chicago Great
Western. 400; Chicago 7: T; preferred.
4.900: Consolidated Gas, 500; Continental
Tobacco. $500; D. & r. G.. 200; D. q X
G. preferred 400; Federal Steel $500;
Federal Steel preferred 1900; Manhattan.
IS 200: Metropolitan Street Railway. $500:
Missouri Pacific 500: New York Central,
200: Northern Pacific $500; Pennsyl-
rania. 400: Peoples Gas of Chicago. 10
eO0: Reading first preferred 400; Rock
Island 800: ST Paul $500; Southern
paciffc. 1900; Union Pacific; 100: Union
Pacific preferred. 800: L. s. Leather. f.
3n0: Z. S. Rubber 1900; Wisconsin Cen
trail. W. l.. $500: Wisconsin central pre-
ferred. W. l.. 610O-
Bond Quotations.
I. s. IS. reg...10 NJ. X & 7. As. 93is
L. S. IS. req 09ls \. Y c lists: HE'S
L. S IS, coup l0s9s n J. {. gen. 5s-I2I1s
L. S. n. As. reg. 1905 Nor. Pac. lsts-.l3
II s. n. As coup. 1861 Nor. Pac. Ss..... 6S
u. s. old As, reg. 1124z Nor. Pac. As. .1O61s
L S. old As, coup.11S9+ n. Y. c. & st.
u. =. ItS--l4-lS' 4~ouAa -AV' y
L. S. IS, coup. .1129s Nor. & West
District 65s ...119 con. Is 49,. 90A
Atchison, As ..--1027s Nor az West.
Atchison, adj. As S35s gen 6s .:..---132
Can. South, Ids Ill Ore. Nav 1sts.-114
Ches. & o. 41aS. % Ore. Nav. As ..-l02$i
Ches. & Ohio 5s. 1ls O. s. L. 6s.-..... 1921.
G & N con Is IA 10. S. L. con. 5s.115
G & y. s f Reading gen. As. 90
deb. IS .122Jk r. G.. w. lists. 1004
Chi Term 4s..-102 st. L. 4 Iron NJ
d. & r. G. 1sts..1051si con. 5s 80: HIS
D. & r. G. As. .10394 St l.. Il San F.
East Tenn. Va gen. 6s .---.---126
& Ga. lists. 1865 St. Paul cons. III
Erie gen. 4s..-.. 72%4 st. Paul, Chi. q
Fort Worth & Pac. lists -..-..14
Den. City lst.. S1lx St Paul, Chi. x
General Elec. 5s.1 21 Pac. 5s --...-.123A
G. h & S. A. 6s. 113A So. Railway 5s..11159 |
C. II. & S. A. Standard Rope
ends ......... 11115 & Irvine 6s -. 81
Houston & Tex. Tex & Pac. lists. 114ia |
Central IS lib Tex. &, Pac. DDS. 55i2 !
Houston & Tex. Union Pac. As. .1OS14 |
Cent. con. 6s.. 100 Wabash lists Liz
Ia Cent lists. .113 Wabash DDS 80. 1913. |
X c P & G. West Shore As. .115A /
lists . ....... SSH wis. Cent. lists. 77I4 |
L. & N Uni. IS. $50 Colo. South. As. S9h! |
N X. & 7. DDS. 81