The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-05
Tightness In Money Causes a Weak
ness In Prices.
GAIN OF SUB-TREASURY
IT WAS MADE AT THE EXPENSE
OF THE BANKS.
Strength of Saturdays Bank State
ment Is Traceable to the Opera
tons of One Institution-Offer-
ings of Bonds For Redemption
Have Fallen to Low Point.

New York. Dec THE weakness of
stocks today was a response to the
worldwide tightness in money A
marked effect was also produced by the
supreme court decision in the Addy Stone
Pipe company case. involving an infringe
ment of the antitrust law by industrial
combina TONS. Strenuous efforts were
made by professional operators to be-
little the force of this decision on the
ground that the party to the case was Il
particularly fragrant illustration of Il
trust formation and that the points III the
case could not apply 10 the general run
of Industrial combinations. but the acute
effect OF the decision on the securities of
;hese combinations argued apprehension
or the part OF holders that their vaiae
would be impaired by the decisions, the
stocks of the industriais fell anywhere
rom 1 TO or points and showed but
q feeble rallying power
In fact, there seemed to be no resist
ance at any point in the market. There
was some early strength in burlington,
some Of the iron and steel Stocks, Pacllc
Msril Great Northern preferred and
American Linseed but with the down.
ward course there was practically no in
tNru9tion and the close was al the low
est and the majority of the active stocks
Showing net losses of Il point or over.
Sugar was conspicuously weak and is
over points lower on the day. There
WIS some short selling among the indus
TT ais ON the strength of the supreme
court decision. but that profh-taking was
large Tor the long account was very
manifest from the marked weakness in
stocks which have recently advanced.
notably the trunk lines, the Pacifics and
Sugar.
The apprehension over money affairs
turned principally TO foreign bourses.
The advance in the sterling rate al Ber
lin and Paris to very near the gold ex-
port Level marked the influence of the
Bank of Eng.ands measures to attract
funds. The sterling exchange rate in
New York also advanced. but the money
hsNrn nod
quite contrary to the fears of the specu-
iative world
The stagnation of speculation at those
centers probably had to do with This re-
suit. In New York on the contrary. the
money rate stiffened as the day pro-
crossed and Hurried to 10 per cent, at
which point il closed. No loans We're
made below per cent Some of the Dor
rowers, counting upon an easy money
market following Saturdays strong bank
statement. DELAYED SuDplyinC until late
in the day, and so bid up the rate.
The strength of Saturdays bank state
ment is seen to be traceable to a single
institution, as was the case last week.
Moreover. the sub-treasury operations.
from which the whole of last weeks cash
recuperation was derived shows gains
by the sub-treasury at the expense of the
banks since last Friday of sl,274.009. Of
ferings of bonds for redemption at the
sub-treasury have fallen to so low a
point as TO afford only slight offset TO
the absorption of funds in the taking up
of the surplus revenues. On the other
hand. interior exchanges moved slightly
In favor of New York. The speculative
public, however. has abandoned hone of
any easier money conditions until after
the end of the year.
Railroad bonds were easier in sympa-
thy with stocks. United STATES 2s new
Is and Is advanced 4 and the - and old
Is coupon y in the bid price. Total sales.
par value, sl,4SO,OcO
r. Bond Quotations.
L. S. 3 reg. 1924 n. Y. Cent Is. .1122.
I 5. Is reg. 109s4 \. j. Z. gen. is .120ia
L. 5. SIS COUP. 109S4 Nor Pac 1sll0
L. S. n. As reg..13 Nor Pac. 3s.... 65%
L s n. is coup 1873 Nor. Pac. As. .l02
S. o. is reg. .1l2l. y. Y. c. & St.
L 5. o. Is coup 113S4 l.. As ........... less
l. S rs reg..-.-.1ll12 \. q w. con. Is 92ia
L S. Is coup. .11112. General 6s -135
ID. G. 3 65s:..--...1lS Ore. Nav. Is. Jos
Atch gen As 9Sss ore. Nav. 4s...iOi
Adjustment IS. S7ss o. 5. L. 1891
Can. So. 2s...--.-l07%s Corsol IS .1ln2
G q o. 4lss.... 90 Read. gen. Is. S65s
c. & o. 5s...-.. 116l4 r. G. w. Isl. 9Sss
c. & n. con. 7s.l43 st. L. & Iron NJ.
Debenture 5s.-107 consol 5s lilo
Chic. Term. IS. % st. L. & S. F.
ID. & r. G.. Is. .bl3s general 6s 1 24n
d. q r. @. As. $685. st. 2. con........l7ls4
Erie gen IS. 7Ils St P. c & p IS. zoos
Ft W & Den. So. Ry. 5s.. JOSH
City Is 49,. 76 STANDARD Rope
Gen. Elec. 5s..Il9 & Irvine IS 81
@. u. < s. A. 6s1l0l. Tex. & Pac. Is ilS
@. II. & ). A ISLES Tex. * Pac. 2s 81
II. a 4. &. 9S.---llli y mon Pac. 4S..i04
ConSol es ......Ii0 C. * S is........ S5
Ia. Cent. Is ZIP Wabash Is III
X G. P & G. Is q Wabash IS ......10l
J. d n. As; .1ooh West Shore 4s-.-ll5.
N. X. & 7. Is. 20 Wis. Cent. Is. g2Ss
NJ. X. & 7 As. slss So. Pacific Is = s2st
Stock Quotations.
Atchison ........ 225. Union Pacific =. 5OIS
Preferred 6i's Preferred -. 1854
B. a o.. - Wabash - 73s
Can. Pacific -. S4i2 Preferred 49, poo
Can. Southern =. 1855 w & l.. E.. II
Ches. & Ohio. COS End preferred. 2s5s
G. CT. West..... l41s Wis. Central 49, ISL
c, b. & Q.-.-..i32ss Adams Express. ll2
c. /. * L........ f5Ia ANN. Express l45
Preferred $500 4S1e L. 5. Express. iSls
C. * z -. 96is Wells-Fargo Ex.127
c. & \. W.. l6i Ann Cot. OIL. 3i$s
C., r. L. * P....I127s Preferred - 50
=. {. c. < St. l.. SO ANN. Mailing . 10
Colo. Southern 81 Preferred -. 10
list preferre,i--- Az ANN. s. x R.. 39it
End preferred. 1872 Preferred 80
Del d Hudson-.-l20 ANN. Spirits -. 4
D.. L. q W-.....1S7is' Preferred -. Il
ID. & r. c.. pos ANN. 5. Hoop. 46&,
Preferred ...-- 7fA4 Preferred -. SSl.
Erie .-..--...-. 122s Ann. S. & W.. 47Ss
Isl preferred. 37ls Preferred -. IS
ct Nor. pfd--.-17s ANN. Tin Plate. :gia
Hooking Coal =. IS Preferred $50. ~
Hooking Valley. 3ii2 Ann. Tobacco ..lI5i.
lbs. Central lilo Preferred LIB
Ia. Central 100. 49,. Ara. Min. Co... Il
preferred y i. r T CO... S4it
h. G.. L. * c.. 81 Colo. +. & l.. 5lss
Preferred, ---.. so Preferred -. 91&.
Lake Shore .-.-.206 Federal Steel -. 6Iss
Louis. * Nash. s4sst Preferred go. 81
Manhattan L. .f045s Gen. Electric IN
Met. ST. Ry--...l92 Glucose Sugar e. 5214
Mex. Central ..l3 Preferred lilo
Mimi n 81 L.. G5z Intent Paper -. %
Preferred 49, % Preferred 49,. &C.
Mo Pacific 80 SIS Laclede Gas -. 50
81 x o.. 49, Nat. Biscuit -. IL
n. X. & t.. I1s, Preferred IS II
Preferred -. ISL Nat Lead - %
y. J. Cenfral....IT Preferred lOoi.
y. Y. Central. AZ Nat. Steel - 4est
Nor * West. 26is Preferred -. %
Preferred 800 fGl4 y. Y Air B.....Ii4is
Nor Pacific -. 55ei North ANN. i5ss
Preferred 49,. IS Pacific Voast . 50,l
Ont. a West. % LIST preferred. IS
o. Il. q ~ y End preferred. f5is
Preferred ....- IS Pacific Mail -. s7I
PennsNlVania l54ls People Gas HIPS
Reading ..--,-:.. 2Oi4 Pressed Steel c 81
Isl preferred. $50 Preferred 80. 50
2nd preferred. 3es4 Pull. Pal. Car. 1888
r. q. ..-....-- - Standard Rope
Preferred -. 50 * Irvine - liz |
st. l.. & San F.. lesi Sugar .l5g7s !
lst preferred. q Preferred .....llS$, |
End preferred Sc Tenn =. & I....lips
ST. l.. s. W.. 1la4 L. S. Leather. 49, !
Preferred 30is Preferred 49, 7SS.
s.. Paul s..-.--.-I2I L. S. Rubber. 46
Preferred lib Preferred 109
ST. =. & O....-...l17iI West Union - S7iS
SO. Pacific 49, 49, Rep. l. & S.. 24i. |
So. Railway 49,. 12Ss Preferred m 70I{ |
Preferred go. 75ss p {. c. & ST. l. T3i[ /
Tex. & Pacific. rs.
Condition of the Treasury.
Washington, Dec. l.-Today's state /
ment OF the condition of the treasury |
shows: Available cash balance. S2S6. 636- !