The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-11-18
STOCKS IN THE EAST
-.o,bJe to Buy Sends Prices
Fixing Upward.
REACTION FOLLOWS
TEX SHOWS AN IMMENSE VOL
UME or BUSINESS

se.lil corrosive buying for ID
JARS had am Influence upon spec
go. sentiment today Jhal the most
u.-,--,,i,r- could scarcely nave ioIeseeH.
6 speculative sentiment a. ti4S -
sut" -.,f the opening has been rare
g.tei.- The history of that insttu-
sec --rg brokers had orders TO buy
u'l -. amounts without any price
iH 7-...raD-ly. such orders were
l.-'l- r..l-ra=Suess in market Wnefe
shFr. -. ms strongly held as at pres
s..-H the sensational advances
cha resulted We're almost instdn-
"---.usr.- lost. The urgency OF the
t-'lfing gave cuir~ TO the SupPositloh
large SD 7Et interest was IN
li". Of closing out by forced buy
There has been more or less
i-7. sailing at intervals ever since
s-'. r..rf.u and uncovered bear ac-
MS tg.r. fu perliOus state Inc
t.-.r advance of "a large reaction
mining up tu cover q point was
e..f Huf iu "a few tndiVldual STOCKS
H"i .... -,.- sensational. Consolidated
'' mas sold for POI and at the same
- that DO WAS selling for l94, ana
S-,.-'-....-s... coal sold at 10 TO tll2, rising
l....-r-,,ar-4 T.. 4It points over last night
@e.'.r.raf Electric jumped points,
i'm is less than its average daily
-ss for several days.
-'l- speculative excess quickly
t,+-rnt fr- penalty In the eager sell
t-g 1r-ssure Induced by those high
i-7 and the relapse was so violent
81. awaken uneasiness- The relapse
a@-,faf nrices back to within a frac-
van MI last night and in some cOnspic-
cases. notably Pennsylvania,
- fem below, But after the APP
5asraure of the favorable bank state
rr buyfug was renewed with con-
55snra and prices were again lifted, IN
.-1-. cases 10 the best, making the
r,5sfng active and strong.
Cause Not Apparent.
", snecfsI influence could be as
-s--s5 as q. the cause OF the large de
r-and the movement being based evil
IDENTIFY ON confidence in the cOmpre-
Eansiye nature of conditions making
f-- prosperity and large earnings IN
all branches of business and Industry
There has been considerable abatement
his week I'm the in0Tdinate speculation
.- sf,g-s which threatened last week
IN extend to reckless extremes and to
Rum the money market into squeeze
hi uurtiug too much money in specu-
I8rRe holdings of stocks.
Selling ro secure profits by the more
csutfous and increasing bcidueSS in the
hear attacks on the market at last
some os the weak speculative accounts
which made the market top heavy and
discouraged the headlong rush of out
si5-r4 foo buy. The class of spectators
whom nothing attracts but ii senSa-
r0ual upward surge of prices have
been much less in evidence this week,
bur If has become evident that a third
body of buyers have been waiting for
fine reaction in prices TO come into the
-E.- r-n NJ o. in & 1F- ~
of securities md the soundness Of the
industrial and financial outlook. but
fearful that ver-speculatiOn was in
Harine the prices of stocks and endan-
garing the stability of values
The market has thus found active
support al the decline and has regained
it, equilibrium The fact that no reg
isrit1u 0r exact record is made OF
transactions uu the stock exchange. HeN-
.art by the parties Immediately con-
.araed, gives the opportunity for I'M
warranted statements regarding the
proportions 0f the market. On Mon
day 0f This week the .Otaf sales were
LE,nU1 shares. according 10 the most
reliable estimates, but for the week
en5uE Tuesday evening conservative
estimates show that more shares were
sold taan I'D any previous period in the
history of the exchange. The total
amounted Cd -.54ASSf shares. For the
week ending Jan. p 1899 the aggre-
safe sales were 5.432. 800 shares. As
for bond sales the total has not reach
I'd @0"'Hoa par value on any day since
The election while the record stands at
about HlldaH"h1 par value As for the
record NJ sustained period of activity.
me sales NJ stocks were constantly
over La"nnnt shares a day in January,
tNss- During the same period the bond
sales We're between $40, 600. 600 and $40
ua.t. week par value
An almost equally sustained bull
market vas that of April. 1899. when
me hlreas OF new Industrial securities
were offered on the market. It viii
thus ha seen that the suecuIation has
hardly attained the uDbridIed character
VI some FORMER periods. The memory
H me results following the speculation
'- t>F il fuIustTiais has not been
...l"-I influence this week in walls
street. An apprehension grew up i'm
,-. street after The collapse of The in
-.>.'La. boom I'm 1899 that those proper
.-7 as class would have to go
u. 'a41 am experience similar To that
q .7.-"si companies following the ex-
uses "- capitalization and stock job
DUG '- '7- construction area. The list
VI american railways that have been
~ -7..5' aTr"E and reorganization is a
Publicity Is Demanded.
.He Standards established conse-
r---.E "- publicity and informal ton
..-a'-.H- expenses. revenues and
,.-s..."~ ". railroad companies and the
--. -.EaE Co purchasers Of the stock I
lenders ~ money on the securities, I
-.-N" O. strong contrast To- the informa-
-'H-l -' the public regarding
-.-f- menstrual combinations. This
-...t cases IS confined % bare state
...@ . net earnings. The effect upon
.'.I--uye is evident from the
-- -l the market of many of
s. ."tf- stocks ON which good
ends are paid and for which suff-
mugs are reported To continue
---... The general knowledge of /
". business activity and good /
.N f. advancing prices for the
". tle industrial combines 8
+-f A.H7. LaLad some of the dIstrust
I'd ARDS them. The absence. as a
49, '' --tFN 1Ned charges 10 be met
4- earnings are available for divi- /
.' ODD stocks If iudustriaIs. how
meets some objections to them.
----. ..'a...- NJ new war loans in
ana Germany affected our
-.... MARKET early in the week out
il. ..a belief that the fssua If rbs
-.v- .-t De deferred until early
LIZA. year, The influence passed and ~. {
market became easier. thus CON /
--. .' The returning strength i'm
NE s...5 market. 10
.,. "a market has continued act
has 'l'at- but the principal buying
-H 10 bonds OF speculative T.sfus
Ign contingent interest pavmarfs
.r- 3D.. 17 ana IS declined =. the refund
,oT ~ ana the old 4s q per cent be
new q. - prices of "a week ago. The
~ advanced d DER cent.
Bond Quotations.
D. .-.- ...4-- y. j. @. zen. 5s. Ia6
T a ---.t.- Nor. Pac- 3s. 40