The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-08-26
Transactions Less Than Half Mil
lion Shares In New York.
A DECLINE in ACTIVITY
SPOTS OF STRENGTH WERE FEW
AND FAR BETWEEN.
Financial Centers II. Europe Uneasy
About the Transvaal Situation
Was Notable Buying Movement
In Union Pacific Preferred, Based
On reports of Probable Dividends.

New York, Aug. 25.-There was a
marked decline in activity in the stock
market today, total sales falling to less
than half a million shares. Very little
evidence was left Of the recent upward
tendency or securities. The spots Of
strength were few and far between, and
for the most part in obscure and usually
inactive stocks, which moved under the
influence of special causes. Depression
from foreign stock markets reflected here
and increasing anxiety over tomorrow 5
bank statement were the impelllng causes
of the heaVinesS. Financial centers in
Europe obviously labor under renewed
uneasiness over the situation in the
IransNaai- There was i'll addition the
prospect of a holiday tomorrow on the
London exchange to discourage new COM
mitments there. The buying in New York
from that source was discontinued en-
tirely and sales FOR London account were
sufficient 10 exercise a notably depressing
influence. Ihere was an opening squirt
in American Tobacco which carried il
up IL per cent, but this was almost i'm
mediately lost. The specialties We're weak
for the rest of the day, Sugar being under
severe pressure at times. Its extreme
decline was 3i4 and its net loss only about
a point less. Brooklyn Transit and Man
haitian Succumbed to the prevailing weak
ness. There was "A notable buying move
ment in Union Pacific preferred based on
suggestions OF a good increase in divi-
dends. which carried the price above 80.
Consolidated Gas followed yesterdays
dividend reduction and d seIni-official in
timatiOn that even the reduced dividend
was not earned climbed UP an extreme 50
on the urgent demand from the short in
terest. Brooklyn Union Gas gained 5Sf.
There was continued strength in a group
of minor grangers, ST. Paul * Duluth
leading with a rise of Z points. Rio
GranGe and Western preferred and Ore
gon Navigation were other points of
strength. Liquidation was not urgent in
the general list, the market falling into
intense duilness with the declining ten
dency-
The known movements of money for the
week indicate a loss in cash 10 the banks
of nearly 81, 10000, S2yzI, go of which Went
10 the Sub-Ireasury. None of the gold
which Went recently TO Montreal has been
returned, and no gold has come from the
sub-treasury on account of drafts from
the San Francisco mint. Without regard,
therefore, to the possible hidden drain OF
cash, a sharp decline in surplus reserves
is probable unless the contraction in loans
has been much larger than appeared. The
ate decline ii the money rate TO per
cent had little significance. The rate was
quite firm during the day, about 3 per
cent. Contrary TO recent experience,
sterling exchange failed to weaken in re-
spouse to the firmness OF money here,
but hardened a fraction under the influ-
ence OF London sales of securities IN New
York.
Dealings in bonds We're mostly in the
speculative issues. with improved prices;
Total sales, par value, $,335.OO0 United
p Bond Quotations.
L. S. 2s reg .100I4 n. y. c. lists. .1ll4
L. :. IS .l0Sl2 y. ]. c gen. as l20le
L. :. IS COUP. .l0Si2 Nor. Pac. lists -u3
L. S n As regl30 Nor. Pac. 3rds... SIS
L. S n As coup. 1870 Nor. Pac. Is. .lD35=
L. 5. .. As reg. .112Il \. y, c. K St.
L. S. q. Is coup.ll3 l.. As ......-.-. .l99
L. 5. IS .1l1l5 y. & ". con. As. y61G
L. 5. IS coup--.-lllI2 General 6s LED
ID. c ) 65s......1I7 Ore. Nav. lists. 11212
Atchison gen. IS l122t ore. Nav. As. 1924
Adjustment Is. Ssh o. 5. l. 6s-...-... l29
Can. So. -, old. III Consol Is ......14ls
{. q O. 4l2s...... 97i4 Read gen IS SIS
{. * O. 5s.......- 1872 r. G.. w 1sts.... -
{. * y. con. 1s.-I4 St l.. * Iron M
Debenture 5s. l22 consol 5s .......llii4
{. Term As. ofd. 70 st. l.. q San +.
d. & r. G. 1sts.l05Si general 6s go 124S
.. * r. g. IS. .lOl1s s.. Paul consols-1lO
L. I. V. * q. ls.103 ST =. c a Z Is. -l2l%
Erie gen 4s.... i25s St I. c * p 5S..122
III. ". * Den So. Railway 5s. .l09ss
City lists $50. 40 Standard Rope
Gen. EIec. 1851. * Irvine 6s.-.. So
6. II. & S. a. sl0S Tex. & Pac lists. 1l5la
q. H. q s. A 2s. los 2udS, oft .....- Dos
II & r G 5s.II0 Union Pac. 4s...I05ls
Consol Us .....Il0 c. q 5. 4s........ 81
Ia Cent lSts....I16 Wabash lists Lbs
X. G. p. AZ C. Is 7215 Wabash ends ...101
l. * N L. As 100 West Shore IS. ..Il4A
N r. & T. Is. 40 Wis. Cent. lists. Is
NJ. X. * I. As. 49,