The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-02-19
Sensational Advance of Twenty
Points In This Stock.
WHOLE MARKET STRONG
heavy DEALINGS FOR A SHORT
SESSION.
Advance In Tobacco Due to a Cam
paign Against the Shorts-W
Had Been One of Advancing
Prices, With Waves of Purchasing
Orders-Bonds We're Active.

atlnS, although in some important stocks
the advance was considerable The dealF
lhSs were very large Tor Il Saturday snort
session, 10000 shares being traced IN
London was early 4 seller and later re-
purchaser about half OF that amount.
A more confident sentiment regarding
The situation at Paris accompanied The
election OF the new president OF france.
Houses with Washington ana Chicago
connections appeared as liberal purchas-
ers ana the selling was scattered ! ne
standard shares were generally strong
While the feature OF the market Was The
sensational advance il Tobacco. which
n4de a net gam OF ia, after an extreme
ADVANCE OF almost - The dealings III
this stock We're of a very sensational
character the variations between sales
running either way from l 20 1 points.
The movement was generally considered
as directed against The short interests.
Various reports were current OF absOrp-
ton or friendly relations being establish
ed with the company most conspicuous
rival. but these stories were denied in
other quarters. he market became lF
regular after the opening exhibition of
strength, realizing sales being OFFSET by
confident buying in others. Burlington
was damned down Two points and the
grangers and railways which have been
strong crumbled. Meanwhile Manhattan.
which broke points on the order for the
removal of phe elevated structure in Bat
terry Park, recovered most of its early
loss. 1t was the aggressive strength or
Tobacco which steaoied the rest of the
industrialS, including Sugar.
Metropolitan Street Railway and Third
Avenue displayed considerable strength,
as did a number If the low-priced stocks.
After the first hour many stocks went
up at lively rate. The appearance of
the bank statement, which. While about
as expected. showing a decrease in sur
Plus and an increase in loans. brought
about considerable realizing. but cover
ing of shorts lifted prices again to some
extent The market closed active and
strong.
Advancing prices. like rising tide. stole
on the bears this week, waves of purchas
ing orders forcing retreats from one posi-
ton 10 another. In the fore part OF the
week the market was highly profeSSlonai
and cautiously manipulated. est the trad
ing became too wild and thus render con-
servatiVe spectators and investors timld.
Favorable underlying features We're not
different from those previously prevailing.
but the adroit ones, having acquired
stocks while the market was semi-stag-
nant, wished them TO advance and as they
lifted them il became follow the leader
which this week was Burlington. GTa-
tUitOuslg disseminated gossip that a pure
~ trading market was 10 be expected
had encouraged the putting out of shor.
lines. but the rising paper values induced
covering. which at times was very urgent
The continued prevalence OF easy money
was the backbone of the price movement.
Little impression was made upon prices
by the increase In loans and decrease IN
reserve shown by the bank statement Tor
the three Saturdays ending Today Ihere
were various reasons assigned for the
increase in loans. among them the tnanc-
ing OF many new f!otationS Of industrial
combinations. TefundinS schemes ana
amalGamaLions pending of allied railway
interests. The strength Of the market,
despite the storms hcmperiIg traffic, ana
reducing railway earnings at least tenn
pOrarily, was indicative Of increased con-
fidence II fact. ali unfaVorable news in
Guiding the death OF the president 81
France with its possible complications,
made but transitory imprint on values.
while Bile news or rUmOrS of penG-
ing DEVELOPMENTS quickly recruited the
ranks of the ootimists.
The weeks bond market furnished a
number OF features, including a revival
of activity in the Central Georgia issues.
which ordinarily are dull The market
generally displayed an advancing ten
dency. with d considerable increase in
activity toward the end. United States
new IS and the IS declined Il and the old
Is registered and the IS coupon Is il the
The tota! sales of stocks today were
6TS so shares including lG.620 AtchiSon,
81 so Atchisou preferred, ZI,lS0 Central
ran 800 Met 81. Ry. 81 go Reading pre-
ferred eco Missouri Pacific, 1909 North
ern Pacific u.r-o Northern Paclilc pre-
Pacific 74aO0 St Paul $50 Southern Pa
cif.c 5Gg1 Texas & Pacific. l.eN9 Union
Pacific preferred i25. con Tobacco. 1908
Gas sea Brooklyn Transit. 400 Sugar.
BOND QUOTATIONS.
L. s. 1857 Nor. Pac- 1s.....1l5
/. 5 Ii. IS r.....-131@i Nor. Pac. SIS. 6sS4
L $ n. = c......I21&. Nor. Pac. 4s--.-.1U5
Z :. \ reg....--fl2As n y c St
L. :. IS coup-..-112@a L. 4s----.-------lgi
L $ 2s--....... - y. q ". 6s..-.--l50
L :. - rey......l1l3l -Scrthw. con- -145
L. s. 5s cOup....1lla4 Debenture as. ~
District . 65s....llS ore. Nav. lS....-1l2
Archison 4s......IO2 ore. Nay. is. -l02l2
Adjustment is. S35s O. 5. l. 6s. l. + -l2sls
Can South. Is. .Il0i2 20 ). L. -. 1. I'll
{. 4 o. 4l=s...... 95 Reading 4s----..- Si2
chic Term. As. s5ia r. q. W ls...... $31a
= q O. 5s.-......1ls@a s. /. X Iron NJ.
G. H. * d. r.s. lV4ss con 5s....---.. .llvi2
ID & r. 6. ls....10S'i 81. /. * San. T.
d * Z. q. 4s...-lJl gen Gs -----..--lZ3l4
ast Tenn. 1s....I04is ST. p. con ...-... 1855
Icyia Cen. S.. 49, ST =. c & Z. 1s.Ii9
81 ". a Den. ST p. <. K 2. 5s.i 30ia
is L r.........- s. .SOnth Ry. -. .1053i
q n. Flec. 5S.....l14 STANDARD Rope
&. Ii. 4, s \. 6s. 100 & Irvine 6s...- SSi2
G. IL. q 5 \. 2s.1l0 n. 7. l.. g. Is .--llli2
H. & T. {. 5s....Il0!e Reg > ....-.-.. 50l2
II 4 T. {. Gs.lli Il. p. 4s........... 1U45s
Ia. cent fs....I01 L. p. y. & G. Is S794
/. & y. L. Is. 95ia Wab- LIST 5s.---..ll5
Pac Con. 6s...-.lli Wab. 2s.....---.-. 1854
II X. q T. p. GSis West Shore Is. 112Ii
NJ X. K T. Is 9i's Wis. Cent Is ~
N Y. g. ls-....-1l6i2 Colo. South. is. 81
" ]. g. 5s......slo4
.offered.
STOCK QUOTATIONS..
AtchIson ......... 23is 81. L. * 5. w. 103s