The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-15
Better Feeling, on the New York
Exchange Yesterday.
LEssSNING OF PRESSURE
MARKET AT NO TIME TOOK ON
THE EXTREME.
Heavy Offerings Were Made at the
Opening and Determined Effort to
Force Prices Down-Later On
Bears Gave Up the struggle-The
Grain Markets.

New York. Dec Interpretations or a
further stress of liquidation in the STOCK
market were not disappointed this morn
ing. Heavy offerings were thrown upon
the market from the outside and the
brokers were very bold and determined III
offering prices down. But II was o.
vious that there was not so acute pres
sure OF necessity upon the market 10
realize as was the case yesterday, and
.eyeral DEVELOPMENTS over night helped 10
encourage q support Of prices Inc mar
ket therefore did not at any, time take on
he extreme Generalization OF yesterdtS
as was feared and about midway OF lne
session the bears had relinquiShed their
position and Were willing 70 roar you as
gently as a sucking dove.
The cor flict of speculative interests was
a fierce one before the issue was decided,
and prices moved both ways at once IN
the opening market and never long IN
one direction. The determined support
in Sugar was a notice TO the bears from
the outset that they were not 10 nave
things all their own way, and though thsy
order and made heavy inroads at other
points in the industrial list, and even
forced St. Paul a half point below yester-
days lowfevel for the year, the ABSORB
tioi, power of the steady buying demand
proved too much for the reactionists.
Subsequent attacks We're made upon the
iron and steel stocks, the New York City
specialties and in fact upon every stock
where any information could he had OF
a heavy account on the long side, with
the hope of wiping out margins and fore,
ing liquidation. The success achieved
must have been very moderate. judging
from the almost complete recoveries
which were caused il nearly all cases
when the shorts began 10 cover.
1t was noticeable on the other hand,
that the buying demand died away at the
higher Level of prices achieved This en-
couraged renewed efforts by the bears up
to the period of last reaction when pro-
ceeding from attacking the market, and
the closing was firm near the top level
al substantial net gains all through the
list. The outlook in the London market
continued TO offer the keynote 10 the
speculative situation The failure to adj
vance the official rate of discount by the
Bank of England in itself offered sug
gestion of relief from yesterdays Apr :
hension of gold exports from here though
the belief continued during the morning
that gold would go out by Saturday s
steamers.
The treasury departments offer to fore
go the rebate hitherto demanded before
anticipating the payment of Jan. ! inter
est had Il sentimental effect in strength
ening the market. The total amount of
interest involved is s.. 500 900, and its avail
ability il is believed would make the
Withdrawal of any gold Tor export less
felt Then came the buOyant outburSt
In the English market on the widely dis
seminated rumor or the relief OF Lady
smith ard an alleged capture of Beers.
This served to brighten the feeling in
London occasioned by a heavy demand
New York long after the usual hours and
Londons total purchases for the day
ran up to $4,000 shares. Sterling exchange
responded with drop of over &c in TIE
pound. Additional gold was received here
today by the branches of Canadian banks.
The relief thus afforded TO fears of gold
shipments was the dominant factor in the
late strength of the market.
Bonds rallied from early weakness in
symrathy with stocks, Total sales, par
value. s2.045.OO0. United States bonds were
unchanged in bid quotations
Bond Quotations.
L. S. Is reg....102 n. J. c. e. IS. .125A
L. ). s. reg. .l09Z Nor. Pac. Is 10
L. S. n. is reg. 1924 Nor. Pac. - 80 o51.
Y. S o. As reg. .l34 Nor. Pac. As. 101ls
I. 5. o. As coup. 134 n. Y. c. & St.
l. 5. IS reg-...ll3%4 l.. As. -. -. .i05is
l. s. 3 cOup-.--ll41. Nor. * w. C. As. 80
Dis; Col 3 6Ss- ll29s Nor. & w. g. Is .135
Atch. g. As. ...l0l ore. Nav. Is. los
Atch. adj As. 100 ore. Nav. As. ..l00Is
Can. So. 2s.. - 9lSs o. s. L. 6s.. lib
6. d O.. as. 79i2 o. 5. L. c. 5s.. .1lS7s
/. x o. 5s.....lC7ls Reading e. 4s. s5l,
{. & y. w. c. Is. 81 r. G. w. Is. =. So
c; & y. w. $. st. L. & I. NJ.
f. deb. IS. ..1l5isi con. 5s. - 1857
Chi. Term. LIP St l. & s. +.
u. & r. G. Is. 1854 gen. 6s. 1s4I5
d. & r. G.. IS =. sils st. Paul con I71lL
IL. T. V. & C. 1sl0ls4 St. p. c. q =. Is. l20ls
Erie Gen. 4s..... 9S ST. p. c. & p. 5s 12ols
/. W. & D. c. 1slO3 SO. Ry. 5s.. In7ia
Gen. Elec. 5s... 20 st. r. & T. Is so
q. II. & 5. a. 6s 70 Tex. & Pac. Sill
G. H. < S. \. 2s1I7 Tex. & Pac IS 81
II. a T. c. no Union Pac. As. 1883
II. ~ T. c. c. IS. l05 g. d S. Is. -. S3li
Iowa Cent 1S..-llZl. Wabash Is. lib
X. {. p. & G. 1sll0 Wabash Is. ...100Is
L. & y. uni. 4s.l07 West Shore As iii
NJ. X & I. 2s... 81 Wis. Cent. Is. 30
NJ. X & T. 4s.... 9Si4 So. Pac. Is. -. 79l4
\. y. e. Isl. ll2$a