The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-04
STOCKS UP AND DOWN
Market Opened Buoyant, But Clos
ing Was Weak.
SPECTATORS IN CONTROL
RAPID ADVANCES AND DE-
CLINES IN PRICES.
SPECTATORS IN CONTROL
Half the Transactions Were In the
Specialties, Which Scored Some
Sensational Gains-Can Money
Ranged From Five to Eight Per
Cent-Bonds Were Irregular.

New York, April 3.--The usual accumu-
lation over Sunday of buy at the mar
ket'' orders caused a buoyant opening IN
many stocks. The dealings were on a
tremendous scale, particularly in the
morning, and the total transactions were
over a million and a quarter shares. The
most sensational advances were among
the specialties. many of which main
tanned gains to the close, although the
railways eased off. The legal rate, per
cent, was the prevailing figure for call
money on good collateral, but the range
for the day was from 5 to s, with the
closing at the lower figure. Although
the London market was closed because
of the Easter holidays, arbitrage brok-
ers put out some lines of stocks in the
expectation Of getting them back cheaper
in London tomorrow. The market
throughout was highly speculative, with
rapid advances and declines. Manhattan,
on tremendous dealings, maintained an
advance OF points. The stock was ap-
parently controlled by pool operations APP
pearing at the high figures.
Federal Steel. on transactions second
only to those Manhattan sold early at
the highest figures Yet reached and then
receded sharply. leaving a net loss of ~.
The preferred advanced about as much.
American Steel was pushed up points
Missouri Pacific, on trading of over 1oO.-
900 shares, advanced points on buying
by pool supposed to include some of the
insiders. Kansas az Texas preferred, at
the same time was marked up over a
point
The announcement of the privilege to
subscribe for new stock in Brooklyn
Transit, together with an erroneous re-
port of a cash dividend declaration
caused the stock to sell up to 1876, but IL
receded sharply, leaving net decline or
over points at the close. The trading in
some half dozen Specialties nearly
equailed the dealings in all the rest of
the list. The most conspicuous advances
were Third Avenue 9; North American,
52; International Paper, "a; Tin Plate
as; Tennessee Coal, ~ and Sugar, g.
Pacific Mail, Delaware & Lackawanna
Mexican Central and Western Union were
spots of strength Burlington, Pennsyi-
vania, New York Central and Northern
Pacific suffered declines OF a point and
over. Kansas City, Pittsburg d Gulf and
Metropolitan were weak.
The closing of the general market was
weak 1t developed after the close of
business that a deal had been effected be-
tween Manhattan and Third Avenue rail-
way companies.
Considerable irregularity prevailed In
today's bond market with the more
prominent issues sagSing. Total sales,
S., 4S5, 400
3. 5. IS advanced 4. but the IS lost
y in the bid price.
The total sales of stocks today were
LIZ. zoo shares. including Atchison. $40:
Atchison preferred g, 2S5; Central Pacific.
$500; Burlington, 17,1l0; Manhattan, 1861 COO;
Met. st. BY, AGO; Mexican Central. S,2sg;
Mo Pacific. 1lS, 2S5; NJ. X. s; T. preferred,
ID. $50: New York Central, 1920; North
american. %. 720; Northern Pacific, PISS;
Northern Pacific preferred, 4,69S; Rock
Island. 1902: Union Pacific, 12.Si0; Union
Pacific preferred, 1870; St. Paul. IA. SOS;
Southern Pacific, $50; Texas & Pacific,
4 200: American Steel d Wire, $500;
%
+. q l.. 1860 Brooklyn Transit g. 30;
Continental Tobacco, 1895; Pacific Mail
10. 49,; Sugar. 1915; Tennessee Coal q
her 2 400. western Union, 1870; St. l..
K S. w preferred. 1850; Chicago Great
Western II l45.