The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-02
BEARS FORCE PRICES
Successful In Bringing Stocks to a
Lower Level.
WAS SH0RT-LIVED RALLY
UNION PACIFIC NET EARNINGS
SHOW A DECREASE.
Poor Statement Also Received From
the Northern Pacific, Which
Causes Those Stocks to Be Saw
agely Attacked-Continued Weak
ness of Amalgamated Copper.

New York. June 1.-The bears made
some further progress in forcing prices
to a lower level today, but they were by
no means in so aggressive and confident
a mood as yesterday. There was very
heavy covering of short contracts during
the day, and the last prices are materially
above the lowest, even IN those STOCKS
which show the heaviest net losses Ihe
bears met determined resistance IN some
of the stocks which have hitherto proved
most Vulnerable to their attack Inc lat-
ter parE OF the day showed ulsIhcly
improved tone and an upward tendency or
prices with no disposition apparent from
the bear faction TO make further ven
lures for the present After the opening
dip in prices there was the usual proIes-
sional covering designated to meet the
orders of outside operators Inc result
ing rally was shorI-liVed ana the Dear
party then made their demonstration in
force. They brought out heavy hqulda-
ton in Tobacco stocks, Western Union,
metropolitan Street Railway, Manhattan
and Brooklyn Transit, and extended their
operations IN spite Of the weakness in the
wheat market to the granger group.
The Union Pacific and Northern Pacific
stocks were saVagely attacked simulta-
neously with the appearance OF the state
ment that the Union Pacitis ned earnings
for April showed a decrease OF OR SlII;ue
compared with the corresponding period
last year. Coupled with Slmliar poor
statement of Northern Paciflcs earnings
which appeared yesterday, TINS caused d
ranging from l per cent in Northern IA
cific. up to 25s in Union Pacific.
The continued weakness in Amalgamat-
ed Copper which sold down TO ~ on ouo
lots in the outside market, served 10 en-
courage the bears as indicating an aDan-
Comment of a purpose on the part OF the
powerful interests behind that property
TO support the price any longer There
We're several developments, however, our
ing the day which served to disslpate
beariSh enthusiasm. 1t was nOuce3Dle
that nothing further was heard of the yell
low fever scare and roads in the territory
affected were firmly held in the STOCK
market all day. London was larger
buyer of Louisville, in spite of other ele-
ments of weakness in that market rms
and the ca sing off of call money after the
settlement caused an easier tone IN the
sterling exchange market here, and so
mitigated yesterday apprehenslons Oh
immediate gold exports
The reported large selling of wheat for
southwestern account helped TO keep the
railroad stocks of that region flrm Ihere
were reports Of favorable conditions ana
prospects in the anthracite trade A Scru-
tiny OF the Union Pacific statement show
ed that the decrease in April net earn
ings was accounted for more than twice
over by an increase in operating expenses,
much OF which was understood 10 De 80
ing into permanent improvements ana Det.
terment There were evidences also OF
positive strength in Sugar, Rubber ana
Street Railway suddenly bounded up
wards. a point at a. time. to al4, the pears
were quick to take alarm, othef conulllohs
also pointing a warning, they ruShed 10
cover The extreme gains from the low
point were in Metropolitan. points, SUI
gar, .: American Tobacco, ~ Continental
Tobacco and American Tobacco, eacn;
Rrooklyn Transit and Burlington, nearly
2 points, and many other stocks point OF
over.
ket in sympathy with stocks, but losses
were not so conspicuous as in stocks
The total sales We're of a par value OF
sl,Sl0.00O. L. 5. new As advanced =. ana ana
the old As, registered, advanced 4 in the
bid price. .
ed to 64S. 1883 shares. including: AIh sisI
81 500: American Tin Plate 4V9; amer
can Tobacco, 1900; Anaconda, g,NU; Atch,
ison. preferred, $500; Brooklyn ~ H5p.d
Transit, Sc, 800; Central Pacific, flVO; Bur
lington, %, 500; Chicago Great western, D. 1
800: Consolidated Gas, 5000; continental
Tobacco. q, 200: Continentai 1ooacco pre-
100; International Paper $500; Louisville !
q Nashville. 10. 400; Manhattan. $500; /
Metropolitan Street Railway, 1881 MIS-
souri, Pacific, 500: Northern Pacific, IL
600: Northern Pacific preferred. 5,100; Peo- |
ple's Gas. p, 900: Rock Island, ,SuJ; 81 /
Paul Il. 800; Southern Pacific, l4o9; rem
il. BOO Union Pacific preferred, $500; y. 5 !
i leather preferred. 400; [. S Rubber, /
9, 800; Western Union, 1S,DO
Bond Quotations.
T. c 90 100 M. K. & T. As. 80
= s Is reg. 1O9 n. Y. c. lists. .l15A /
& Is coupon I09 y. ]. c. gen. 5s.l20
= 8 n as reg IS0Ial Northern Pac. 1s112
i { n IS cou.. l3Oi3 Northern Pac. IS 6I%s |
{ old As reg. ll2l4 Northern Pac 4sl06
l. s. old As cou..il4 n. Y. c. q st. l..
l. 5. 5S reg-.--n213 As. :. 49,: .i9z
8 As coupon Il2l2 y. & w. con. As 90
MS of Col. 3 65sIlSla y. * w. gen 6sl32
1tchison gen 4s10S2s Ore. Nav lists. Ia
Atchison adj. As 81 ore. Nav. As. LOB
ran So. 2n6S.IlI O. S. L. 6S.. -..-12l1s
e O. AIS 9414 o. S. L. con. 6s. -113;s
r & o. SIS .1lSl2 eRading gen. As SSas
1, &, \. w. c. 7sl43SL r. G. w. lists. 100
e & n w. S. F. St p. c. & P. 1s124
Deb. 5s 122I5 St l. & l. NJ.
chi Term. As .102A consol 5s.. Ill
u A. r. G. lists. 1851 St l. * S. F.
=. e r. G. 4slO4 general 6s.. ...l25
y r Y. a. G. isles St Paul consolsl67l5
Erie Gen. IS 72i2 ST 2. c. & Pac.
i w * D. c.. 50 IS. -. -.--...-12Sis
Cen EIecl 5s..l2i So. Railway 5s .ll0S4
- II q s a. 6sll4 St R & Tw. IS. 81
g. "A q S A 2ss1I1a Tex. x Pac. 1s..11S
II. q 7. { 5s 11S Tex. * Pac. 2s.- %
II &. r {. G. 6slI1 Union Pac. As. .10Si4
Iva c. lists. Up Wabash lists. --1l652
<. G p. &, c. Is Sc Wabash ends -. IS
T. &. \. uni As 1855 West Shore As ..1l5
NJ K. * T. 2s.--- 66S4 Wis. Cent lists 1875
Stock Quotations.
Atchison -. 80. 17ss St. L. & S. w. liz
Preferred - 553s Preferred - 9s4
Bait & Ohio. =. 90 ST. Paul -.--122l2
-an. Pac.. =. =. 70 Preferred E. ..169
e TRv,,a h..