The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-06
Stocks Much More Active Than Du-
ring Last Week.
WAS WIDELY DISTRIBUTED
WAS NO VERY HEAVY PRES
SURE OF LIQUIDATION.
st. Paul's Extraordinary Gain In
Earnings Last Week Causes Rail-
roads to Be Sustained Although
the General Outlook In the Wheat
Market Induced Covering Shorts.

New York. July 5.-The market for
stocks continued notably strong today and
much more active than the upward move
ment of last week. The activity was very
widely distributed, extending pretty gen.
orally throughout the list and during the
course or the day extending even to some
OF the oats and dogs on the list. The
general strength of the market was main
tanned In the face of a realizing movement
In the stocks that were most conspicuous
IN last weeks rise, notably Pennsylvania
New York Central and the Vanderbilt
group generally, including Northwestern,
Omaha and the Union Pacific stocks
Ihere was no very heavy pressure of Ii
no effort to hold up their prices. and a
number of them show losses of a point
or over.
There was a realizing movement in the
grangers also, but the vigorous strength
of st; Paul sustained this group and
brought new buying through commission
houses. st. Paurs extraordinary gain in
earnings for the fourth week in June of
about $4,000 over the corresponding week
of last year was the main motive for this
buying, though the general outlook in
the wheat market induced general COW
ering of shorts. The line of shorts put
out in the grangers on the early belief in
the ruin of the wheat crop is understood
to have been very large. and no small
ers is attributed to covering of these
shorts. Atchison preferred was yerv
markedly affected in the same way and
rose to 603s. The bears who had sold
Brooklyn in expectation of a Fourth of
July strike We're eager buyers to cover
short contracts, and advanced the stock
at one time nearly four points.
The rise in Sugar extended to nearly
five points. Other specialtieS which rose
strongly were the 1obacco stocks. Steel
& Wire, Tennessee Coal, Peoples Gas, In
ternauonal Paper and Anaconda. 1t is
now admitted that the recent gold eX
ports have been directly due to borrowing
for the purpose of easing the German,
money market, which was in urgent need
of it to carry over the half-yearly period.
Discounts in foreign markets were easy
today.
Bonds were active, and prices advanced
a fraction. Total sales, par value, $3.50
900. L. S. old is. registered, advanced Is
in the bid price.
Total sales of stocks today amounted to
637, 7i6 shares, including: American Steel
& Wire Co. $500; American Sugar Re
filming, $500; American Tobacco $500; An
aconda, 1,100; Atchison, 400; Atchi son
preferred 5000; Brooklyn Transit, y,SOo;
l.. 100; Federal Steel, II 400: Federal Steel
preferred 800: Manhattan. 1910; Mex
can Central, 500; Missouri Pacific, ASoJ;
Northern Pacific Is, 400; PENNSYLVANIA, %
400: PEOPLES Gas of Chicago, 500; Read
ing first preferred, IA. 900; Rock Island, -
500: ST. Paul. 81. 100; Southern Pacific, .
900: Southern Railway preferred, la,N9;
Tennessee Coal & Iron, L, 500; Union Pacl-
fic. %. 100; Union Pacific preferred, p,3n;
L. S. Leather preferred, ], 100