The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-28
Factors Of Apprehension Disappear
From the Market.
GREAT RELIEF IS FELT
PRICES MOUNTED UP WITH IN
CREAsING BUoYANCY.
Easier Conditions on the London Ex-
change Responsible in Measure
For the Strength In New York
Loans Made at 6 Per Cent-The
Grain Markets.

New York Dec. 2.-1he market for Sc
Slrities showed the effect of the great
relief feit by the dissipation of several
factors of apprehension and prices mount
ed up with increasing bouyaney as the
day progressed. The market closed with
burst of animation and strength at the
top level of the day. Net gains in num-
Der Of important railroads reached three
points, with a long list of advances of a
point or better Among the industrfals
and speciaities gains were even more
striking; quite n number advanced from
four TO ten points as a result of the day 5
trading. Demand from an outstanding
short interest TO cover accentuated the
have recently suffered most showing the
greatest benefit from the days business
Brooklyn Transit was almost solitary
exception and was subject to vigorous at
tackS ali day in an effort to unssttle the
market and check the advance. But this
stock, although il ranged over more than
four points. closed with a net loss of
The leading influence in the improve
ment of sentiment was the quiet and or
derby manner in which the periodical set
Element on the London Stock Exchange
proceeded Since the last settlement on
that exchange, Great Britain has suffered
three notable reverses to its arms in
South Africa, its three columns of inva-
sion have been paralyzed and as a result
alarm spread through the financial CEN
tiers OF the whole world.
Grave FEARS We're IelL lHdI The resulting
shrinkege in values would prevent many
operators on the London exchange from
meeting their engagements at the current
settlement. The news this morning that
no acute difficulties had developed. that
money conditions We're easy and prices
inclined to advance rather than to decline,
brought immense relief which was
promptly reflected at the opening hour in
an advance all along the line. 1he only
notable check came with the news OF the
failure of a Boston stock exchange house,
but this influence was only temporary
and slight. The conditions in the money
market were notably easy, and one of the
largest Individual money lenders In the
street made large loans to carry over I'M
til next TUESDAY and at the rate OF per
cent.
The current rate ruled from to 5 per
cent. The close of the year is universally
expected to terminate the period of severe
stringency and be followed by relaxation
owing TO disbursements of dividends and
interest which will be on an unprecedent-
ed scale There was some discussion OF me
probable amount of gold exports on sat
nrday. These are not now expected to be
large owing to tine easier conditions In
the London money market.
The buying to cover snort contracts, al
though it was considerable element m
the advance was itself induced Dy the
very substantial character OF the buying
for long account and the manitestly small
supply of floating stocks.
The trading did not take on any great
animation until near the close and the IN
dividual transactions were not on a large
scale In fact, the number OIL ordereu
lots traded in was feature of the day,
and reflected the investment demand by
buyers who take stocks out of the mar
keI to lock up and keep.
Investment buying was in evidence also
IL the bond market wherever the IAN IN
prices had offered opportunity 10 secure
fair returns on money invested Lac Donn
market was active and strong througnout-
Total sales par value, 2.320. GOO. u. >.
new As declined Il in the bid price