The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-03-30
Upward Movement In Stocks Re
ceived a Check.
SPECTATORS UNLOADED
REALIZING SALES ON AN ENoR-
NOUS SCALE.
Large Blocks of Stock Were Thrown
Over By the Traders-Flurry In
Call Money, Which Advanced to
Seven Per Cent-Market Closed
Weak.

| New York, March 29.-The bull move
| ment in stocks which started Saturday
| received its first material check today
| me dealings We're considerably above the
! million mark, with nearly quarter of a
million of the transactions in Brooklyn
transit. The sensational advance in the
forenoon brought about realizing sales On
an enormous scale in the late session.
| forelgn exchange was strong and higher
| especially on short bills. There was no
satisfactory supply of commercial bills
and the April settlements were given as
the reason for the increased renting de-
mand, which said to be unconnected
with any anticipation of the settlement
OF the Philippine indemnity money. There
was a furry in call money which went
as high as per cent and closed at 31a.
Ihese circumstances, together with the
early strength in wheat accelerated the
afternoon declines. which embraced even
more stocks than were prominent on the
rise. Brooklyn Transit made an extreme
| advance of points, dropped over and
closed with net advance of > points
from the top. This stock sold today over
100 points above figures prevailing last
April and large blocks of stock Were
thrown. over by traders on the decline.
Supporting purchases by the parties iden-
titled with the property resulted in a
rally. As in the manipulation of this
stock many brokers are used. it is diff
cult to say whether the decline was on
desirable following. Although Northwest
ern closed with a gain of less than 2
points, it had at one time risen the eX-
IRENE of Z. New York Central, which was
at one time up SIS, retained less than
points of the rise. These stocks were I'M
usually active and revived talk of the
possibility of a consolidation.
1t was said that there had been enor-
nous realizing by interests active in
manipulating the rise in several stocks,
which We're usually taken because of the
purchasing demand aroused by their re-
cent strength. This, however, is a matter
of pure conjecture. Reports of a hitch in
the delivery of certain properties to the
Continental Tobacco company and talk Of
the possibility of a trade fight kept the
tobacco stocks weak most of the day,
American Tobacco being off over 3 points
and Continental 25s. Federal Steel and
similar properties suffered on realiza-
lions. Weakness also developed in Cen
eral Electric, Rubber, Atchison preferred
and the coalers. The granger stocks
showed good gains in the early period of
strength and receded with the rest of the
market in the early afternoon. The mar
ket closed weak and active. with many
shares losers.
vagaries of stocks today, but the range
was well within the point of the most
active issues. Total sales, 4,345, 900. United
States bonds were unchanged in bid quo
tations.
Total sales of stocks today We're ILL.,
600 shares, including the following: Atch-
ison, $500; Atchison preferred, 60 $50; Cen
trail Pacific $3.50; Burlington, 81, 240: Chi
10, 4OO Illinois Central, 1920; Manhattan,
1885, Metropolitan, u715: Mexican Cen
trail, 3,4OO; Missouri Pacific, 2S575; New
York Central, $500; Northern Pacific,
147OO. Northern Pacific preferred, $500;
Northwestern 1852; Rock Island, 20,S30;
Union Pacific 26,320; St Paul 21,950;
Southern Pacific, 1850; Southern Railway
preferred, 1885; Union Pacific preferred,
$780, Wabash preferred, 10,S25; American
Steel & Wire, 21,945; Paper. 3,0O0 Amer
lean Tobacco, IS, 1876; Federal Steel, 96, 200;
Federal Steel preferred $4,000; Peoples
Gas, IS, 600; Brooklyn Transit. 259. $50; Con-
Sugar. 10000; Tennessee Coal & Iron,
1900 Rubber. 4,455; Continental Tobacco
preferred, 3,210; Chicago Great Western,