The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-10-04

New York, Oct. 3.-The disturbed condi-
ton of the foreign markets for sureties
and the upward tendency Of foreign dis
counts caused a break in prices at the
opening of the stock exchange here. The
selling movement was quite active in the
first hour and prices for the day in the
majority Of stocks were made in that
lime. There was some pressure later In
the day in obscure quarters of the stock
list But prices generally were better by
the end OF the first hour. In the latter
part Of the day the small volume OF Of
ferings invited bidding up of prices. The
Level of many stocks was carried above
that of last night. both in the railroad
and in the industrial department. No
large offerings were brought out by the
advance and the upward bound of the
money rate 10 per cent caused only q
slight setback in prices They hardened
again and the closing was very firm in
an almost stagnant market and only
slightly below the best of the day. There
is a mixture of gains and losses through
out the list.
There was considerable calling of loans
In the early hours by national banks
whose reserves are below the legal limit.
But the money rate did not get above 20
per cent during this period and at the
opening money loaned at 8 per cent Be
fore the afternoon furry il had fallen
BACK again 10 per cent. 1t was after
O'Clock when the rate spurted to 40 per
cent and then dropped back again before
the close.
lie URGENT ONildgtu ADT llpHHA SSGIiS
confined to the stock exchange and the
small disbursements created by today S
high rate indicate narrow limits of need
there. Time loans, though they do not
are not offered in large volume. Call
loan rates At neighboring financial centers
showed some disposition to advance to-
day. But the severe strinGency seems
confined to New York and to q narrow
speculative circle in the stock market.
There is no evidence as Yet of any, dis
turbance of the course Of general bust
ness for lack of money.
The action of the London and Berlin
money markets today and the weekly re-
turn of the Imperial Bank of Germany
indicate an urgent need for money there.
Obviously no further movement OF gold
TO New York is TO be expected in the
immediate future. n effect is yet APP
parent from the October disbursements
of dividends and interest. but some funds
are expected TO make their way from this
source into the New York money market
before many days A hope is entertained
in stock market circles that some measure
of relief by the treasury department is
imminent, as the absorption of surplus
revenues is the principal cause of ex-
haustion OF the local money reserve.
The bond market was duh. but prices
were lower in response to the high
money rate. Total sales. par value,
SIPS. 600 United States IS declined 4 in
the bid price.
Bond Quotations.
L. $. . reg.....lA1ip J.. x n. uni As. 1914
L. s. IS 1919 NJ. i. & I. Ends. SO
L. S. IS COUP. 1851 NJ. X. 4 7. Is. 90
L. S. new As reg.130 n. Y c. lists. ...ll15s
L. S. new is n. !. G. gen. 5s.l20
coup .........l30 n. =. 1sts........113
L S. old As reg. Ill N. P 3s.....-.... 65
us. old As coup. ll2 n. p. 4s..........1 1912
L. S. 5s ....l119s n. Y. c. * st.
L. S. IS coup. HES L. Is ...........1N
Dis. c 65s.....117 n. q W. con. As 9l1a
Atch. gen. 4s.... 1914 y. x w. gen 6s- l35
Atch. adj As S6l4 Ore. Nav. lists. lis
Can s 2nds .1O9 Ore. Nav. 4s... 1925
c. & o. 4iss..... 955s o. S. L. 6s.......126
c & 0. 5s........1 l71sf O. S. /. con. 5s..11S$i
&. q y. con. rs. 145 Reading gen. Is. 1914
c. & n. S. T. r.. G. w. 1Sts.... IS
deb. IS .......l2O ST. L. & l. NJ.
Chi Term. As. 70 con. IS ..l09Ss
D. & r. G. lists. l05 ST l.. * S. Z.
d IL r. @. As. 9S12i gen. 6s .........12 4$i
T. T. Va q GA. iSt. p. cons. .....1I5
Isis ...........1gS lSt P. c. & 2. ls.12I
Erie gen 4s... 70A iSt. p c. & z. 5s. l20S4
e w. & d. c. is - So Railway is. 1914
Gen. Elec. 5s... .1i6 S. f. & 7. 6s.... 1919
q. Il. &. S. A. 6s los T. * p. 1sts....
g. II. * S. a. p. los T. q =. 2nds.... IS
H. q T. c. 5s...11eA L. p. 4s..........102
II. & T. c. con. Wab. 1sts........1l5
6s .............10S Wab. 2nds ...... %
Iowa {. 1sts....1l3 INV. Shore 4s..... 1125s
X q u a q Is Il Wis Cent lists 7e