The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-27

New York, June 26.--The opening in the
stock market this morning showed a jump
in prices, and something like a rush to
buy, which spread rapidly through the
whole railroad list. In due course of time
number of industrials also showed
strength. When this development became
obvious. the railroads paused in their adj
vance, as though to shake off the follow
ing of industrial stocks. Acute weakness
in the local traction stocks. steel and
wire and the tobacco stocks checked the
advance.
The railroads held firm for a time but
the day was over. bullish enthusiasm
had somewhat expended itself. and the
closing dealings showed a rather easy tone
with railroads below the best. The move
ment in the NanderbiltS was by far the
most conspicuous of the day, and was, OF
course. based on the reported lease of the
Boston d Albany by the New York Cen
trail for a term of ninety-nine years. The
ramifications of the Vanderbilt properties
are so vast and the possibilities of con-
solidation so important that a movement
in these stocks is always certain 10 have
stimulating effect on the whole railroad
list, and the Vanderbilt group is very like
ly to be picked out for manipulation by
operators for q rise. AS the floating sup
ply of these stocks is not large, such ma
nipulation is not so difflcuIt as IL might
seem. New York Central was at one time
today up three points, but it lost one
point on the failure of official cOnfirma-
zion of even admission of the correctness
of the Boston q Albany report. This. to-
gether with the further engagements of
gold for export, was the important influ-
ence in the reactionary tendency through
out the day.
Chicago Northwestern. Omaha, Union
Pacific and the oregon Short Line securt-
ties all responded sharply in sym.
with New ork Central 5 strength. The
weakness of New York Traction stocks
today was due to rumorS OF approaching
labor troubles. Sugar and a few other
specialties showed early strength, but the
industrials with few exceptions, yielded
before the close. Good report OF current
railroad earnings, especially III the west
and southwest, were factors IN the
strength of railroads. Decrease in oper-
ating expenses of southwestern railroads
was a feature of the May statements re-
ceiVed. the main income of Atkinson DeinS
increased largely by this means to the eX-
tent Of over $500. 600. St. Pauls May state
ment, on the other hand. showed the gross
increase more than swallowed up py the
enlarged operating expenses.
Railroad bonds were generally tirmer
Total sales. par value, 81 ,SS4.O 900 T. y ) ;,
coupon. advanced Il in the bid price.
The total sales of stocks today amount
ed to 473.6S7 shares. including the follow
ing: American Steel, 400: American
Sugar "a 700: Anaconda, 1900; AtchtSon,
6OOO: Atchison preferred, 1880; Broekiyn
Transit o. 600; Burlington, 1920; Cont
mental Tobacco. 0,200; Federal Steel $500
Manhattan, 1890; Northern Pacific, $500;
PEOPLES Gas $500: Reading list preferred,
500: Rock island. 400; St. Paul, 40 100;
Southern Pacific. S.40O; Union Pacific. d.
300: Union Pacific preferred, Zoo; Amerl-
can Tobacco 400; Metropolitan, 600; Mis-
souri, Pacific, AGO; New York Central, =
500: Northwestern. 300; Tennessee Coal
G. 1