The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-23
WEEK Of DULL TRADE
Nothing On New York Change to
Liyen Speculation.
BANK STATEMENT GOOD
SHOWS LARGE INCREASE IN
LOANS AND DEPOSITS.
Level of Prices For the Week Was
Not Much Changed, Declines Only
Slightly Exceeding In Number
the Acknowledging of
Highly Professional Character.

New York, April 22.-The market today
was almost wholly professional, and the
net changes were trivial, although in the
way of improvement. The specialties
monopolized attention except for activity
in some of the internauonals. In the
early trading an expected favorable bank
statement was discounted. and on its ap-
pearance general realizing follower the
appearance of a supply of stock from
large holders, giving encourasemeh1t 70
the bears to put out snort ilnesi anu 'LiS
market closed with i raid in progress
The bank statement showed Il large IN
crease in loans and deposits anu collse-
quent heavy gain in surplus reserve. Lon
don sold freely Of Louisville ana South-
ern perferred and Denver q Rio Grande'
but those stocks were very wen taken,
and all closed at good advances. NOTION
& Western shares was the only other par
tcularly strong railway.
Sugar was strong throughout, and gam
ed ~. Brooklyn Transit moved Irregular
~, slightly above yesterday ngureS.
Among the specialties, Contlnentai 10
bacco was pressed for sale early on me
increased capitalization, but rallied on
ssupporting orders. and closed with gam
of two points. Tennessee Coal * iron was
weak losing point. New Jersey Central
certain high-rate bonds would be refund
ed by the issuance OF stock, 10 De SUD
scribed for by present stockholders. Inc
market closed weak.
-
much changed, declines only slightly eX-
ceeding in number the advances. me
dealings were of highly professional
character. the public being rather lnulS-
posed to let go their present holdings or
to take on new lines, and prices OF IN
dividual stocks as a rule rose or Tell as
the manipulators wished.
The trade reports for the week showed 4
marked abatement OF prosperity in va
rious lines of industrial activity. The I'M
ports for March were the largest for two
hpl o.
ports reached nearly $S3,0O0GO0, largely
due to a gain in manufactured products
as the exports OF cereals. Catue ana raw
material fell off about $lS,0OOOO0. Sterling
exchange was strong. with an lnSuHl-
cheney of commercial bills. 1t was thought
that preparations for the payment OF the
Spanish indemnity figured in the sterling
Money on call showed a variable ten
dency. alternately easy and firm, with
ease generally prevailing. LOanable funds
were fncreas ed by receipts of money from
Baltimore and Philadelphia. The bank
clearings of the United States rejecting
decreased for the week over 1914, 900 900. but
were still greatly in excess OF those OF
last year. The grain markets strength.
supposedly rejecting an expectation of
shrinkaEe in the cereal yield. was watch
I'd narrowly for its effect on the Srangers.
This group of stocks moved within COM
pressed limits, while Burlington advanced
about two points on the subscription PRIV
ilege extended TO stockholders. The pro-
fessional element showed a frequent DIS
position to be bearish. while real holders
of stocks generally chung tenaciously to
their faVonteS, but the hquldatlon or
speculative holders was not active. The
dullneSs of the week seemed conducive to
an increase in the short interests which
acted a support to values on conceS-
sions frequently after a long period of in
activity. business suddenly increased, as
though it had been prearranged.
The most notable changes in prices for
the week were declines in Third Avenue.
9ia; Brooklyn Transit, 4; Manhattan, 3's;
Peoples Gas 39s New York Central. :,
and Lackawanna & Western. y each. The
advances included New York Air Brake,
II; Colorado Fuel. 1913; Colorado Fuel pre-
ferred and New Haven. each: Anaconda
Mining s: National Steel. 4; New Jersey
Central, Delaware d HUDSON and Louis
$i%.
There was talk at one time of recur-
renee of discrimination in loans against
the industrialS. but less was heard of this
with the casing Of money. There were
sales for western account on several oc-
casions, which was taken to be connected
with information on crop prospects Kali
way earnings that appeared during the
week We're generally favorable.
Considerable favorable comment was
aroused by the investment inquiry for
bonds which included middle class as
we'll as prime grades. The market dis
moving independently of the stock mar
ket. L. S. IS registered 3 5. registered.
and new Is, registered. advanced y: 3's.
coupon. and old As. registered. u. and old
Is. coupon and new As. coupon Is in the
bid price.
The total sales of stocks today were 3O6.-
ia shares including: American Steel *
Wire $500: American Sugar. il. 600: Ana
conda. 1900; AtchisOn. S.lDO; Brooklyn Rap
id Transit. 5000: Brooklyn Rapid Transit
rights. 2G9O: Burlington. 400; Colorado
Coal & Iron. $500: Continental Tobacco.
2S 400: Denver & Rio Grande 1900: Dcs
Moines * fort Dodge 1890; Federal Steel.
800 Louisville & Nashville. 1850; Man
haitian Consolidated. 900: Manhattan
Beach. 22S0J Mexican Central. 10200; Mis-
souri, Pacific. 1890; National Steel $500;
Southern Railway preferred, 1890; Ten
nessee Coal * Iron, 900.