The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-06
General Average of Stock Prices
Were Notably Lower.
WAS NO SPECULATION
DECLINES UNDER INFLUENCES
OF HEAVY FOREIGN MARKET.
Condition of Money Market, Good
Railway Earnings Reported, and
General Activity and Prosperous
Outlook In All Channels of Trade
Increasing Values to Securities.

New York June 5-The professional
traders on the stock exchange made in
dustrious attempts all day to get into the
current of speculation. But as matter of
TACT there was almost no current to speak
of, so that the board room traders found
themselves drifting and floundering in
StaBnant waters They changed sides sew
eral times in the dull market and net
changes on the day are consequently I'M
important outside few OF the SpecialtleS.
though the general average declines under
the influence of the heavinesS in the for
eign market on account of the disturbed
state of affairs in France. Sugar and d
number of other specialities were attached
and the bears also had on their side d fall
ing off in the eastbound freight tonnage
from chicago, a decrease IN ROCK island
net earnings for April and renewed
strength in the wheat market. The mani
fest disposition of a bull party to take
up a group of iron and steel stocks on ac-
count OF the extraordinary prosperity in
that trade served to check the decline.
The large receipts of wheat at interior
points onset the fears of crop damage and
a series of good returns on current traffic
of various railroads also helped to
strengthen the stocks of those proper
ties.
The local stocks showed disposition
10 advance and it looked like the inagu-
ration of a bull movement when the break
in Sugar awakened uneasiness and the
making of commitment on the long side
was put a stop TO. There was nothing
notable in the trading thereafter. The
S8tItUlc DTcdh sugar was points anu
the rally on covering caused some harden
ing in the general list. The recovery in
Sugar amounted to Az, the net loss being
24. National Steel. Pressed Steel Car *
Tennessee Coal hold their advance rather
better than the other steel stocks. There
was a spread in the American Smelling
stocks the common weakening sharply
while the preferred advanced over point
The plethoric condition of the money
market the good railway earnings report
ed and the general channels of trade are
n6 alT1 GiFN -faa wall n
securities. But the Sugar trade war and
possibilities of a set back to the highly
speculative stocks as well as the mani
fest disposition to renew an unbridled
speculation in the securities of the new
and untried industrial combinations be-
gets distrust and hesitation on the part
of capitalists.
Prices were much better maintained in
the bond market than in the stock mar
United States old As coupon advanced Il
and the 3's and the new As Is in the bid
price.
Tho total sales of stocks today amounted
TO 312.007 shares. including: American
Steel * Wire company. 31700; American
Sugar, $500; American Tobacco, 300;
Atchison preferred, 1890; Brooklyn, r. T.,
5000; c. B. & O., $500; Chicago r. T..
q 600: c. B. & @, $500; Chicago r. l. *
dated Gas. $500: Continental Tobacco, g.
100; Federal Steel, 21,6J0; Federal Steel pre-
ferred. 1890; Manhattan, $500; Metropoli-
tan. 200: Missouri Pacific 2.909; Ma
tional Steel. $500; Northern Pacific, 500;
Peoples Gas, $500: Union Pacific. 200;
Union Pacific preferred $500; Rubber, 81,
100; Western Union. 500.