The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-02
Sharp Advance In New York In the
Vanderbilt Stocks.
BUT EFFORTS MISCARRY
BEARS TAKE A HAND AND
PRICES GO DOWN.
Slight Rally During the Day In Rail
roads Caused By Favorable Re-
2orts-Union Pacific Bid Up
a Point On Transcontinental Con-
solidation Rumors-Grain Market.

New York, Sept. 1.-The feature of to-
days market was the vigorous effort of
the bulls about midday TO lift the market
out OF its listless and heavy conditions by
Il sharp advance in the Nanderbilts. The
efforts miscarried and invited such a
flood of realizing that prices sold off to
the lowest point today which was in
many cases as much as 81 per share below
iaSt night level The bears had a hand
IN the decline, but the demand from shorts
10 cover was light and rallies in the gen.
eral Inst were of small proportions. The
movement OF railroads generally through
the morning were exceedingly small either
Way, except in a few individual cases.
chicago " Eastern Illinois was pushed UP
over TWO points above par, hut relapsed
nearly three points. he movement of the
specialties i'll the first hour was a good
deal mixed. Consolidated Gas and Ten
nessee Coal shot up TWO points. but the
Tobacco stocks, brooklyn Transit and
Sugar were heavy in tone. Only a little
before noon Omaha and Northwestern
We're pushed up on n revival Of the old
story of the absorption Of the former by
the latter. About the same time of the
appearance of the New York Central an
nual report showed in detail the rather
striking economies effected by the consol-
ldauon OF that great system. The result
was a rise of points in Omaha 3ss in
Northwestern and nearly > points in New
York Central A number of other Van
oerbiltS SympathiZed to the extent of a
point. and the Union Pacific stocks We're
BID up point. giving force to the rumor
that the much-talked of transcontinental
consolidation was about to be perfected.
The very heavy blocks of Union Pacific
stocks coming out on the rise and the de-
lection by the bears Of selling for leading
account brought a determined raid and
realizing movement along the line. The
gains which had been extended in some
cases to nearly point We're quickly wiped
out. and the general level of the market
fell below last night, Brooklyn Transit
lDSt
l12.
The market was very listless during the
last hour. and closed generally easy at
103 decline. London sent higher prices
and bought here to a moderate extent. but
this support was without avail to sustain
the market. The fear of an unfavorable
bank statement was a heavy weight on
the market. The New York clearing house
banks have lost heavily during the week,
both through the interior movements and
to the sub-Jreasury. shipments on balance
to the interior to the extent of nearly
81 100000 can be traced. The statements
of the sub-treasury during the week show
that institutions TO have absorbed on ac-
count of internal revenues. customs pay
ments and deposit for shipment TO the in
terror. something like S3.S01O00 after al
lowing for payment Of $4,000 on account
of drafts from the San Francisco mint.
Some allowance is to be made for receipts
in gold at assay offices which are credited
10 the banks. and there is apparent loss of
cash of nearly $4,000 900. There is no evil
posit liabilities by contraction of loans TO
offset this fail in cash resources.
There was not much done in the bond
market today but prices were firmly held,
Total sales. par value, $1.5S0.090. L. S.
government bonds unchanged in bid quo
tations.
Bond Quotation.
L. S. Is reg. 1909 Nj. X. & T. As. 9424
L ). IS reg. lUSl2 n. y. Cent. Is. Ills.
L. S. IS coup. .10S12 n. J. Cent. g. Us. l20
l. ;. n. As reg. .130ls Nor. Pac. Is. lib
L. S. n. Is coup. 1905 Nor. Pac 3s-. :. 81
I. 5. o. Is reg. .llll4 n. Y. Z. * st. l..
L. S. o. Is coup. ll5 As lbs
L. S Is reg......llll2 y a w. c. As. 20
Dis. Col 3 s....ll7 \. o: w. g. Us. .l35
Atcn. gen. 4s....l0s34 Ore. Nav. Is. ..l12l2
Atch. adj As -. SSl2 ore, Nav. As .lgS1s
Can. So. 2nds....iOS o. 5. l.. 6s ......l27
c. & o. 4las . sos o. s. l.. c. .ll7l2
c. * .. 5s.. $50. ll9 Reading gen. As. S72i
c. & n. ". c. Is las r. q. W. Is. 80. SSt2
e. & y. w. S. ST. L. x l. NJ. c.
F. deb. 5s .1101s 5s.. =. .......114
Chi. Term. 4s.... ~ st. l.. d S. +. g.
y. q K. q. Is. 1864 6s.. ...-.....124
u. &, r. G. 4s....10l St. p. con-. ..1lo
l.. T. Y. x G. is .105 ST. p. g q p. fs.l2i12
Erie gem As . . 122. ST. p. G. * =. 5s.122
f. W. x d. G. is. 80 So. Ry. as. 1898
Gen. Elec. 5s.. ZIG st X. q T. 6s.. 81
q. III. & S. a. Gs.IOS Tex. * Pac. is. .1l5la
6. n. * $. A. estes Tex & Pac. IS. 56ls
IL. * T. c. 5s....ll0 Union Pac. As ..105s4
ii. d 7. {. c. Us. Up Wabash Is. Zig
Iowa &. Is. go. .115 Wabash Is. .1eO@
X. Z. p. K G. Is. - West Shore As. 1874
J.. q y. uni. As. .100l4 Wis. Cent. is -. IS
NJ. h & T. Is =. 1872