The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-13
Heavy Dealings By Professional
Operators In New York.
STOCK MARKET STRONG
AN OUTSIDE DEMAND THROUGH
COMMISSION HOUSES.
Railroad Lists Were Particularly
Active, An Eager Demand Devel-
oping For Some Properties,
Which Had the Effect of
Strengthening Other Stocks.

New York, July 12.-The stock market
Showed continued strength and buying by
professional operators was on a large
scale There was a good demand from
outsiders through commission houses at
the opening, encouraged by the rise in
prices yesterday and yesterdays profess
SIGNAL buyers were free sellers TO realize
while this lasted. The market then came
TO the customary halt after such a pro-
cess before taking up an advance. An
eager demand developed for Missouri Po-
cific and affected nearly all the Gould
southwestern group in sympathy. Not
only the stocks alone but the securities
of this group of railroads were affected
Missouri Pacific held the leadership Of
the market throughout the DAY and made
late advance to tS5s, an extreme rise OF
points. The motive of this buying was
the Wall street rumors OF plans Tor
merging the various railroad properties
in the southwest in which the Goulds are
interested.
Good buying set in early for the grang-
ers. Pacifics and Atchison preferred, and
after midday New York Central was sud
denly pushed up an extreme rs. Large
buying of Pennsylvania at an advance or
IA, seemed to be associated with the New
York Central movement, but an attempt
was made TO connect the latter with
Union Pacific and Northwestern by
manipulating tfe price of those two
stocks. All OF Northwestern's gain was
subsequently lost
The manner in which the buying de-
mand progressed through the railroad
list. together with the upward tendency
in Sugar. prompted the professionals TO
attempt movement in &he industrial
stocks. Leather preferred, National Steel
Tin Plate, Federal Steet~ and General
Electric were bid between ! and > points
and New York Air Brake made a char
acteristic upward dash of 10 points.
Mexican Central rose quite conspicuously
2l2 per cent under the sentimental in
fluence of the opening in New York of
ar1r tom
funding loan. Sugar, Manhattan and
Brooklyn Transit dropped sharply from
top figures and ma-ly of the gains i'll
the induStrials were practically wiped out.
Prices of the railroads sagged consider
ably from the top ara the closing of the
market was decidedly heavy, net -ains
only partly retained.
me money market was easier today and
confidence is felt that the supply will
become still more abundant at VerV
early date. Total sales. par value. 3d.
500 900. y. S. IS registered declined 4.
and the IS registered Il. while the old As
registered advanced u in the bid price.
The total sales of stocks today were
81. 292 shares, including American Steel.
Loo; American Sugar. 26.100; Anaconda
3,4e; Atchison, $500; Atchison preferred,
81 500; Brooklyn Rapid Transit. $500;
6.o0e; Federal Steel. 1860; Louisville &
Nashville. Is. 100; Manhattan. 20 400: North
ern Pacific, ,400; Peoples Gas, 1903:
1900; St. Paul. IS 400; Southern Railway
preferred, 5000; Union Pacific 10 200;
Union Pacific preferred. 1000; Wabash,
Tobacco, 1900; Central Pacific, 1900; Chi
cago Great Western. 800: Denver &
Rio Grande, 1000; General Electric. 800;
Lake Erie & Western, $500: Lake Eric
& Western preferred, $500: Mexican Cen
trail, $500; NJ. X. & T. preferred 5000:
Missouri Pacific. 1860; New York Central,
il 900; Pennsylvania. $780, St. Louis &
Southwestern preferred 1900; Tennes-
see Coal q Iron, 1900.