The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-05-17
Gained Down After Quite An &c.
centric Forenoon.
WERE NO BEARS IN PIT
SLIGHT HARDENING IN THE
RATE OF EXCHANGE.
Flower Stocks Enjoyed the Greatest
Advance of the Days Movement
Expectation That Prices Would
Tend Downward Was Not Real
lied and They Held Steadily.

New York, May 16.-Today's market was
emarl.ably quiet after the eccentric lore
noon, the sales being little more than
half the sales during the panicky hours
on Saturday There was no such thing as
a bear Spectator in existence, but with
the exception of slight irregularity IN
prices at the opening and slight reldXa-
ton in values in the last hours OF III tns
market, the course OF prices was Slet1 ~, :.
held or moved uncertainty upwards IhIs
was rather contrary to the general eApec55
tation, which was that prices Wouiu tetu
downward in the absence OF buying by
shorts who We're closed out by yeSter-
days rise and that less strenuous supRoIt
from the powerful alliance OF capltailsts
who came to the rescue OF the Ildthet-
This commission was believed tp be SIM
ply for the purpose of sustaining me
marker against any precipltated attempt
at liquidation.
Flower and his associates had lnauSu-
rated previous TO his death. was Ielt 70
be bold under existing circumstances anu
its continuance since was hardly looKed
for. Under the circumstances Inere
seemed a fair probability that some I'M
certainties incident TO the season might
cause a reacuonary tendency Tor a time.
But the professional traders AFTER Ine
early transactions took the long SIDE OF
the market and there was uninterrupted
absorption of an extremely varied list OF
stocks throughout the day Any inter
ruption to the advance threw the market
into a lethargy and nothing but resump-
ton of the rise brought any acuNlly-
. London was scarcely a factor either
way. the market there being neglected on
account of uneasiness about the SITUATION
in China. 4 Slight hardening IN the rate
of exchange had no other explanation
than this same uneasineSS. Money IN New
York, however, worked decidedly easier
under the influence OF receipts from me
interior. The money market also DeneIlt-
ted from the 100000 payment 10 SPAN
on account of the Philippine purchase.
The Flower stocks, especially People
Gas and Brooklyn Transit, enjoyed the
greatest advantage in the days move
ment, but there were notable advances
also in the stocks of other New YORK
municipal corporations on tne prVsleStS I'M ~
attending the Ford franchise tax Dill
Stocks Of the various steel ana iron com
panies were also strong, and there was
activity and strength in chicago Ter
minal In the railway list, Central ana
Southern Pacific rose nearly 3 per cent on
a belief of q beneficial erect OF the UNI
fication of the system A number OF other
railroads advanced point or over ana
Sugar is up points on the day Iobacco
gained 81 points. The closing was near
the top and firm, but quiet.
The advancing tendency OF prices was
marked also in the bond department
There was a heavy absorption OF Rock IS
land IS and the Atchison adjustment 4 ;
and Wisconsin Central firsts We're also
strong and active Total sales $S110,0Jo.
United States IS declined Is IN the pld
price
The total sales of stocks today amount
ed 10 446Sl5 shares. including: American
Steel q Wire L. 400; American Sugar, 30
800: American Tobacco. 23.2O0; Atchison
preferred, . 200: Brooklyn Rapid transit "a asd.
COMPANY 81 go. Central Pacific, l6.SV'
burlington. IL 600: Burlington Rights,
7.SOD: Chicago Consolidated Traction, 8, 100;
Chicago Terminal 800: preferred, 4.50J;
Colorado Fuel & Iron. 2,699; Consolidated
Gas. 2 ECO: Continental Tobacco. HOOD;
Federal Steel, 500: Federal Steel pre-
feIred $500: international Paper. S.O0;
Manhattan Consolidated. 1860. Metropol
jtal Street Railway 800; National Steel,
$500; New York Central. 1000; New York
Central Rights. 6.S0O; Northern Pacific,
& 5p0: PEOPLES Gas 1900; Rock Island,
7.lOg. ST. Paul. 1850: Southern Pacific,
q 272; Tennessee Coal & Iron. $500; Union
Pacific s 100: Union Pacific preferred,
>. HOY.