Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-02-08
RUSH TO BUY STEEL STOCKS
After the First Sales Price Movements Became
Very Uncertain
Fluctuations In Union Paeihc-HaiI'
roads Were More or Less Ezra tic
throughout Bonds Dull

New York, Feb. S.-There was q rush
to buy the leading steel stocks at the
opening. which made wide quotations
for Steel Il Wire and Federal Steel.
The first sales Of Steel * Wire were or
10000 shares at 81 down to oil, compared
with 50A last night, and 5000 shares OK
Federal Steel sold from SO to b2ls, COM
pared with 51B last night. Tin Plate
jumped 2b. The market otherwise was
active at fractional advances for the
most part, though there We're some im-
portant exceptions In small losses
Price movements became very uncer-
tain, but most OF the active stocks IN
clined lower with the movement inter-
spersed with frequent rallies. Union
Pacific lost an opening rise OF almost
point and came up strongly again. I'm
Plate broke 3A and recovered 10 with
In fraction OF It's best. Steel y Wire
and Federal Steel got below early
prices, while Tennessee Coal Steel
Hoop and Colorado Fuel developed
strength, Support In the southwestern
division lifted ST. Louis Southwestern
preferred, Kansas and Texas preferred,
and Missouri Pacific about q point.
Stocks which have recently been quiet
moved upward TO points, including
Anaconda, Amalgamated Copper and
Wheeling g. Lake Erie second pre-
ferred. Western Union, Peoples Gas,
Consolidated Gas and Sugar were
bought on rising scale, the last men
toned advancing two points. But lit
tie interest was manifested In the
fractions, and they moved narrowly
These varied movements proved . very
erretic market and at II o'clock the
tendency was undehnable.
Heavy selling OF Union Pacific low
cred Il and resulted In q lower level for
all leading stocks. Steel and Wire lost
two points, and long list OF other
properties over q point. Despite the
general depression there were points OF
strength in obscure stocks, principally
Ohio. and Denver and Rio Grande The
last named ran up "a, after showing
heavlness. Before midday there was
good rally In Union and Southern
Pacific on the announcement that the
Union Pacific bond issue had been writ
ten to finance the Union Pacific pur
chase Tennessee Coal and Federal
Steel also advanced and checked the
decline.
Bonds were Comparatively dull and
irregular. Issues which had earlier In
the week been bought ran off on
realigations
New York, Feb. S--Closing stocks
Atchlson 81 do. preferred, SS& A. $,
w. So do. preferred. 93l7 American
Tobacco. 1l7%; Tin Plate, SAG; do. pre-
ferred. W. American s. H., 32 do. pre-
ferred M: A. S. r.. els, DO prefer
red, 9sh, r. r. r., 1873; B. & o.. 9l1s
do, preferred. S7H; c. b. & O., l40&; {.
G. c. & st. L., 76; G. F.& l.. 40; c, q,
w. 2Ols: c. s. 5S%; Con. Tob., 46A
c. & O.. il%; c. q A., S9h; do. prefer
red, Is: D. & r. c.. AIS d. & H., 154.
General Electric. 1876; F. s. So; DO. pre-
ferred. SOs.; Glucose. 50; Illinois Cen
trail, 1870; j. c., 1898; L. & n, 92%
Leather, 13a. do. preferred, 1875;
NJ. X. e. r., preferred, 51A;
Manhattan, l19. Metropolitan Street
Railway company. 1888; Missouri Pa
cflc 90is; Northern Pacific, S5A North
ern Pacific preferred IS: n. Y. Central,
145A; Pennsylvania, 1874; Pacific Mail,
42M; Peoples Gas 1914; Reading, 32i9;
Reading first preferred. 75h Reading
second preferred, AN Rock Island,
l26k; Rubber. 20ia; Southern Pacific,
57s; 81. Paul, 1884 Sugar, 1903 Union
Pacific, 95%: Union Pacific preferred,
Ss%; Western Union, s6hs.
MONEY AND BONDS.
Money on call nomlnally at per
cent.
Prime mercantile paper 3qi per cent.
Sterling exchange firm with actual
business In bankers bills at 4S7&g
ass for demand and at 4.S4hgA for
sixty days; posted rates, 4.S5h and
i.sskG4.S9; commercial bills, 4.sS&Q
4.siA.
Silver certificates, 6lg63.
Bar silver, coz.
Mexican dollars, Az.
Government bonds steady refunding
2s registered and coupon, 1.05A IS reg
istered. ii0h 3s coupon, l.10&; new
Is registered and coupon, 1.Gh, old Is
| registered, i1iis; old Is coupon, 1.lSh;
5s registered and coupon, l.10h,
SUGAR.
sugar-Raw, steady; refined, steady,