The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-10-24

New York, Oct 23.-The market gave
convincing evidence today Of substantial
growth of bull sentiment in Wall street.
The dealings took on more appearance OF
animation than at any time since the
violent downward course OF prices when
the money situation first began to awak-
en- anxiety. Dealings were very wen dis
tributed and almost every department Of
the securities market was represented IN
the advance Handsome gains in prices
were achieved in many prominent stocks
and in a large number of cases the last
prices We're the best In other cases
ofit-taking made notable inroads upon
the days highest prices and some effort
was obvious in sustaining the market IN
the closing dealings.
1t was a noticeable feature of the mar
ket also that while a number of members
of a distinctive group of stocks would
show great strength ana activity, other
members of the same group, seemingly
dependent on the same influence, would
remain quiescent and almost immovable.
Thus while Louisville and the Norfolk
stocks advanced vigorously, other con-
spicuous southern lines of railroads We're
quite unaffected. Again. while the grane-
ers also as a rule were strong ana
active Northwestern scarcely moved,
and the Pacific stocks, including Southern
Pacific showed very slight response to
the prevailing strength. The New York,
Chicago and St. Louis stocks were sub
jected to rather apathetic management,
the first preferred rising an extreme
points and second preferred points. New
York Central was also vigorously bulled
TO a maximum price of 140. The mgn
priced specialties, including Sugar, To-
bacco and Peoples Gas. and the local
traction stocks, were all quite aggressive
ly strong.
stocks, and the buying in them continued
until the close, the common crossing "
and the preferred touching 81 rms
enumeration Includes the most conspicu-
Gus instances of strength. There was at
The Same time a notable backward move
ment in Pullman. lsaclede Gas ana Ana
coiida which show net declines respec-
lively of u, and points
American Mailing and one or TWO OF the
iron and steel stocks also reacted, and
Glucose Sugar preferred dropped point
in spite of the strength of the common
stock. How far the days strength was
due 10 covering by the short interest,
which common credence places az SUN
larger proportions, 1T would be dl1Ilcuit
to saw The public had little to do with
the rise. The professional operators OF a
large calibre took a conspicuous and con-
fident part in the market
The continued downward course OF
sterling exchange affords relief from ali
apprehension Of gold exports. But no
prospect is descernible of easier money
conditions. Call money today was stlffer
at 6G7 per cent. and time loans for all
periods again came back TO per cent
The exchanges continued TO move in
favor of The interior as against New
York. Recently large expenditures by
the government show declining ten
dency and thus threaten a renewed dram
on the New York bands in taking up the
government surplus. Today's movements
of stocks demonstrated how completely
the money outlook was ignored. There
was very heavy buying OF Green Bay in
come BS at an advance or Z1s.
The bond market was moderately acuVe
at adTa9S st o prices; ad IoS fate sae P Pd
vanced Il and the old As registered de-
clined Is in the bid price.