The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-08-19
STOCKS IN THE EAST
Rapid Transit Borne Down on
Annual Statement.
MONEY MARKET SOLID
GENERAL RISE is SHOWN FOR
THE WEEK.

New York. Aug. 1S.-But for the inter-
-. aroused by an analysis of the Brook
lyn Rapid Transits annual statement
professional operators would have had lit
trs material or influence on prices. Al
though the report showed that a shade
MGR per cent was earned on the stock
discussion Of specific items was unfavor-
able For instance, the high ratio of
ourrItiug expenses and outstanding loans
al 100000 aroused comment. Decided
pressure was eXerted against the stock
nom the outset. an extreme loss of %
b.iu- made, with the net loss reduced 10
r. uu purchases by the short interest.
Iu People Gas rail- of per cent was
without adequate explanation, but this
stock also recovered somewhat in the
final dealings These movements were
fhr chief features of the market. it's
uarruWneSS being accumulated by the alb
sau.a Of London operations, il being a
holiday there. Railway stocks were rela-
lively better sustained than the general
run of speciaities. The publication of the
second week Of August earnings for
many lines showing numerous increases
acted as a prop for this division, These
statements demonstrated that tonnage
Wa Increasing in widely separated see
tons.
Bank Statement Awaited.
As the time approached for the publica-
came very restricted. The statement met
general expectations as to the cash loss
of N.5il,HD0. Accommodations to the
underwriting syndicate in connection with
the British loan accounted for the grea ter
part of The increase OF loans of S6037 600
DEPOSITS were reduced 50 0gl GOO and rho
general effect was the shrinkage in sur
pIuS reserves of s., 56S 800. A replenish-
maut of the banks losses this week is
expected 10 occur speedily. adViceS from
Pacific coast points announcing the re-
ceiUr of $i,500,000 Alaskan gold. This il
IS believed, will be made available to the
local banks by government drafts on the
s1h-treasury here. In addition payments
are now being made on account of the
redemption of the old government 2s. in
yoIyuG some S20,000,00O. With these fac
tors taken into consideration no general
ueJsiness Is felt as TO the immediate
future of the money market.
Axiom Is Exploded.
The Wall street axiom. when gold
goes out. stocks go down" for once was
exploded this week, as the shipment of
over 3N,VDnN was attended by rising
prices. As the expectation of over ST.
yuH" gold during the past two weeks
does not make very serious inrOads on
th- country holdings, and as constant
BergSsiOns are being received from
natural sources. Will streets aquanimitv
was not surprising. Where the drain will
be- most keenly felt is in the reserves of
influence ON future money conditions
had some weight on the market values
.n the closing days of the week
s general and material rise was affect
Fd in which the best class of railroad
stocks figured. London bought heavily.
The relief To its money statistics showing
decreased dividend payments by its rail-
roads causing demand for dividend pay
.ug stocks here No change in local
money rates occurred while the rise was
bat later call rates touched l3 in antici-
patton of an uufaVorable bank statement
Sugar vibrated on trade and divided
prospects, and the cOalerS were affected
by value reports. Respecting the rise in
the railroads more definite facts were
cited. including improvements in the
-ro- and weekly earnings
Prices i'm the bond market conformed
closely Co IN developments in stocks In
icreSt WAS most marked in middle grade
issues
United States rounding IS when issued
advanced 3. new and old Is LAS in the
bid price. The 5s declined Is per cent.