The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-07-22
STOCKS IN THE EAST
Few Gains in Price Made Fail
to Hold.
BANK FIGURES A PUZZLE
MARKET SHOWS STRENGTH FOR
THE WEEK.

,,ains held at the highest and some n
Tbam we're more than wiped out l.
tha railroad list Southern Pacific an,
~ Paul were the only stocks to max
any considerable show Of Strength
Among the specialties Leather. the NeJ
yorl, fractions and Tennessee Goa
,rara the only features. Sugar wa
lifted two points at the opening but /
was very obviously for the purpose o
aaordiug market upon which +,
realize profits. The stock closed thre
r5ints below the high level and doni
mated the whole market. As the Lon
don exchange was not in session toda,
and had adjourned yesterday before tn,
receipt d. Washington of Ministe1
Conger's message, the effect of tina
news ON the English market is stil
somewhat problematical
French rentes rose Is centimes TODAY
But the special tone of the British
urlss as to the authenticity of the Con.
ger message left doubt in the minds
of spectators as to how it would affect
the market.
Puzzle in Bank Figures.
The figures of the bank statement are
again rather mystifying and thew do
not prove The receipt this week nj
$&50U.gUJ in gold which was shipped last
week from the Pacific coast accounts
for The large increase in the reserve
The decrease in the loan item indicates
that German borrowers are still re-
paying loans Of New York capital
Sterling exchange advanced in Paris
and Berlin and was firm thouoE
nominal here and call money hardened
in London, increasing the likelihood OF
gold exports next week The much
mooted question of how large the trade
balance i'm our favor has been paid. OF
met. is partly answered by the an.
pearance today of advertised offerings
by New York and Chicago lenders anc
bond dealers and bankers of a varieC
j. of foreign government securities
including German Russian, Swiss
Dutch Belgian, Swedish and Canadian
securities OF many denominations The
market closed at unimportant net
changes.
Week Shows Gains.
Prices Of stocks have been raised an.
other notch as a result of the weeks
trading. But the character of the
market has not materially changed
from its strictly professional lines
Operations by speculative pools have
had some temporary effect in moving
prices of special stocks or individual
L
been some slight sympathetic resnonse
in the general list. But there has beer
manifest difficulty in maintaining prices
at new level and the persistent tend
encv has been 10 return to a fixeG
level
To obtain an adequate idea of the
extreme lethargy of the market if is
necessary to go back three or fou1
weeks. In many stocks present prices
vary only barely fraction from those
Of the end of June. Some have beer
higher and some have been lower in the
meantime, but it is obvious that the
market is near to condition of stable !
equilibrium.
Inc notable movements of the week |
have been mostly in the specialties' and |
nave been helped by the forced cover |
nS OF snort contracts. Sugar. Brooklyn !
transit the iron and steel stocks and /
racine Mail nave been notable exam /
PIES. Efforts have continued with soma
Success 10 advance Union Pacific. The
conviction has become general in Wall
street That this stock is to go on a 4
IrI cent dividend basis at the next |
dividend meeting. Nevertheless. eff
lorS 10 advance the price have encoun-
Tered large offerings Of the stock. The
S-IpoSlt.on that the military operations
hidhd and transportation of supplies as
Wei as troops. has affected Pacific Mail
ana the tranScOntinentaI railroad lines
lhe strength of iron and steel stocks
mas also been attributed to this infu-
enee
Money Likely to Be Sitter.
The demands Of foreign governments
-T capital To conduct military opera
tons in China are expected to keen
-"'.'l rates up to a point that will
MAKE II profitable to leave American
Ty.Il.dl IN foreign loans. The Bank of
.'.'-'l''L mas inaugurated a policy of
..-rA'AM.nt and recuperatiOn by an
80. -.'rI advance of full l per cent
rom O." + per cent in its minimum
t",1 I'D. discount. and has been able. BY
"..'"N lNSs from the open market. to
a.. .-- private discount rate up to
It's own rate
TIE a.ion of the treasury depart
.-..-. u. E.Sclnding its call for repay
--'-. OBJ. another $4,000 900 of govern
Aeal deposits is doubtless q. recognition
=. we strain which might result on the
..--'..- market. So also is the author
.. ny tn" treasury department of !
Iat Ment by the San Francisco mint
-'.t arriving from the KlOndike and
,.1.'@ by Geographic transfers on /
e., -. ->.t York assay office. Uncertain :
- me money market is due TO the I
g-- -., whether period Of tight money g.,
'. avoided when these various re-
---. ..-Als converge upon the market. /
-. .. uncertainty is, in itself. sufficient !
.'S. 'a'ase stock speculation.
I'D. bond market has failed to show !
S-t pressure of capital seeking invest
The funds disbUrsed on July I ! :
apparently held in accessible form / l
'.....- developments in the money /
states refunding IS. when is
s-. ...Hned $4c, am the IS. old As I
n '"I cent in the bid price. The l
r declined 8.
Bond Quotations. )
',.l ~ lot \ \. y Cent nj IS IS 1s ga
ISL. IS. "h- \. J. c. &. 5S. ~
r. ''..-lf Nor. Pac. SIS. S.
/ ..-.....l0j Wy. Pac. As .1Olk |
g. .s....let. y. Y. G. d St
Is r.g.i5.-. Nor Or ( = W. c As :ls ss3s
r. ..lp. -g51s Ore Nav. Is. .1O7 9
T. S . g.. ..- -!lll2i52 DC Nav. As ...1023s 2
O. S coup --ly-2 o 5. L. 6s.. .12Sst =
T. .-.....ll5-4 @. s L. c. iii I
bis e.. '.-.-.llt p Reading gen. As. SS54
A-er -- - i-5, X 6. W. Is. =. 971a :
Ate. t----l'll4 St l. < /. NJ =
en- --. SD con. 5s.. . ...llO
O. o. a.. IL -. s-. r. gem H. s. q >. r. 20,
g. * f. .-.-lh-l St. Paul con- 1861 (
g. A. d.. ,SlH ST. =. G. & +. Is 1861
T. r. H. y. St. =. G. q, p. IS. 1851
Chi -. --.-l-1 SO. Pac. Is. ... 70 =
Cob '-i2 So. Railway 5s JOSS
ID d. ~ e. ~ St r. q T. 6S 72Iz ]
ID a. = w. ls.-iUz Tex. a Pac Is Lii 4
tria ~. t@ y,4s Tex. * Pac. IS .. 50 S
y. Ir -. Do ,..-.. hNi2 JniOn Pac Is I051a =
Gen e. is ~ IGWabash Is. lis
I1w. |. PSI. az. Wabash IS . lO3h
s. g. D, -N-.-lI5 West Shore As ZIP :
y d. X w.. w. is 'li2 VS. Cent. Is 70. IS .
Il k he tS- Ss-s N!r. Cent. ..... 80
49,. stock Quotations.
p.'tH .. - ~ r-,,;o-, L., 20