The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-05-03
Prices Ended With Good Gains For
the Day.
CALL MONEY IS STEADY
SHARP DIP IN SUGAR WAS BUT
SHORT-LIVED.
Total Sales of. Stocks In New York,
sea, $50 Shares-Reports of Rain
In Districts Where Drought Was
Threatened Causes Wheat to. De
cline-Available Grain Supply.

New York. May stock prices ranged
over wide radius today, and ended with
good gains for the day. A considerable
advance, ranging from ! to points in the
specialties occurred in the first half hour
aided by purchases of round amounts OF
the international stocks for London ac-
count. Stock values then suffered on a
continuance of yesterdays heavy liquida-
ton and receded sharply, the specalties
losing from 10 nearly points BY noon
liquidation had practically ceased, ana
there We're rallies which among the
specialties. ranged from 3l2 to SA- The
standard railways moved far less widely
except for Burlington and Delaware *
Hudson. which made net gains of l$i and
81 respectively. Among the SpeclaltleS,
50 in Metropolitan. 3Ss in Manhattan. 3ls
in Brooklyn Transit and an average of :
points in Federal Steel Sugar, National
Steel and Tennessee Coal q Iron.
Call money rates ruled at about 8 per
cent most of the day and their steadiness
was a source of confidence as was the
easier tone in sterling exchange which
was attributed TO the London purchases
of stocks. Another reason which might
be assigned for the rally was the tact
that the Ford franchise tax bill would
not figure in the tax levy of this year,
and that the hope of those interested in
the securities affected was that the period
of year might bring about a modfica
ton between the bulls and bears in
Brooklyn Transit which ultimately re-
suited in favor of the former, was, be-
cause of its great activity, a sentimental
influence in favor of taking the long side
in other properties. The dissemination OF
a story that the sugar insiders were IN
disposed 10 come to terms with present
rivals because OF the fear that other
syndicates stood ready to start up new
opposition, was supposed to have some
thing to do with the dip in Sugar, but the
readiness of a large house TO absorb Of
ferings brought about a rally in which
the earlier loss was more than recovered.
Besides the tax franchise bill. the rate
war induced liquidation in Consolidated
Gas but covering of shorts and other
purchases caused the stock TO rise above
last nights figures.
Late in the afternoon when the market
under way, activity of commission houses
was again noted. The market left off
strong at generally the best prices. Some
recessionS occurred in the bond market in
sympathy with the early liquidation in
stocks, but there We're later partial re-
coveries. Total sales, $2.255000. United
States As coupon and the new As coupon
declined Is in the bid price.
The total sales of stocks today amount
ed to 692.5S0 shares. including: American
Steel x Wire, q, 600; American Sugar, As.
100; Atchison. 1900; AtchisOn preferred,
1880: B. r. T. lOl 800: Burlington % 200:
Chicago Con. Traction. 500: Colorado
Fuel * Iron. 1890; Consolidated Gas. u.s.
500; Consolidated Tobacco 40 POO; ID. x r.
@. preferred. 1900; Federal Steel. $500;
Federal Steel preferred. 500; Manhattan
Consolidated. $4,000; Metropolitan Street
Railway. 10000; Missouri Pacific, 80, 800:
National Steel. 1900; North American, b
500; Northern Pacific $500; Pacific Mail,
5.500; Pennsylvania 10 300: Reading first
preferred. 1880; Rock Island. $500: St
Paul, 1900: Southern Pacific. 80 400; T. c.
Il l., 5000: Union Pacific, $500; Union Pa
cific preferred. $500; L. S. Leather pre-
ferred. 500; Western Union, $500; Silver
bullion A ono