The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-01-01
WALL STREET
WINDS UP YEAR
Demonstrations of Confidence in
Substantial Values.
SUGAR STOCKS RECOVER
RAPID REACTION ENCOURAGES
TEE BROKERS.

New York, Dec. a.-The year closed
on the stock exchange with a demon
stratiOn of confidence in the substantial
basis Of values. The immediate factors
were somewhat conflicting and the
early market was irregular III use
quence, but the buying demand cleared
the market of offerings and carried prices
10 a higher level during the course Of
the day.
The publication of yearly summaries
showing a record of achievements in eX-
cess OF any previous year had a strong
sentimental effect on trading. Conf
dence was general that the turn Of the
year would see relaxation in the money
markets, allowing means for speculation
to express its confidence by purchase Of
stocks. The money market was again
decidedly stringent today and very active,
the rate going to Is per cent early in the
day and lowering about that point at
later periods.
The shifting of loans forced some
headers of stocks to throw them over
board to buyers who seemed provided
with ample funds and were not affected
by the shifting of call loans, and were
ready to take them The activity in the
call loan market, however, was attributed
in part to the securing Of means for the
large buying of stocks which was again
in evidence and which was rather better
distributed than that of yesterday.
Heavy Disbursements Coming.
Preparations for the heavy annual dis
bursements were the large factor in the
strength Of the money market.
The Co, lsrs continued very active and
IN the main firm, although there was
very large amount of realizing in Read
ing 1t was considered significant that
the brokers who were heavy BUYERS of
Reading yesterday, took larger amounts
of Baltimore & Ohio today. A sharp re-
action in Sugar was contributing cause
TO early heaviness of the market, with
the break extending over 3 points.
NrF1nf1nO ,Drcs- fr1T ion,
against the proposed retirement Of
Northern Pacific preferred caused some
depression among the Pacific stocks. An
offed made by J. P. Morgan & Co. during
the day TO pay par for Northern Pacific
preferred had the effect of allaying some
or the apprehension that the formation
of the Northern Securities company
would be effectively obstructed.
Union Pacific Statement.
The appearance Of the November state
ment Of net returns of the Union Pacific
showing q large increase, wac a factor IN
relieving depression in that part of the
ma fi-SI The November statement of
Re ss5-s ) net earnings, following that
for Erie published yesterday, confirmed
the confidence in the coalers.
The Fries somewhat supplanted the
Readings in strength and activity, and
Lackawanna was lifted ~ points. Late
in the day New York Central, selling
minus the dividend, rose "a over last
night Baltimore & Ohio gained as much.
There was a vigorous recovery in Sugar
which carried it more than a point over
last night, and Amalgamated Copper also
rallied strongly.
Sterling exchange became easier in re-
Spouse TO the higher money rate here
This served to soothe the fear that gold
may go out early in January. Foreign
markets also reflected a confidence in a
prompt relations of money rates after
Jan l. 1t is not expected that there will
rel In, -
In New York until well into the coming
month PrOfit-taking made the closing
easy and considerably below the best
The bond market was moderately active
and irregular. Total sales, $50 0O0
United States Is coupon and the old As
advanced Is per cent on the last call.
Bond Quotations.
q. s. ref. Is reg. 1882 [. & n. uni. As 1893.
Do. coupon ...1091sl Mex. Cent As S3J5
U. s. IS reg.....1oS1z LIST Inc. ... SO
Do. coupon loss NJ. & St L. As 1GS
.. S. n. As reg. 1881 M. K. & 7. As IS
DO; coupon ..-1SSz2 Do: 3 49,. S21z
u. ;. o. As reg Ills n. Y Cent. Is. Jos
Do. coupon HIPS General S1zs 10
U: ;. 5s reg..-.1el1s N. j. Cent. gen.
Do. coupon ...10714 eral SIS 1874
Atch. gen As. .10512 Nor Pac. As. .1O5%
Bait. & o. As. .IO3k Nor & Western
Do. Ses 49,. 969s cOnsOl As $3.50. 1O215
Cow. As ......106% Read. gen. As. .10O34
Can. Sou. 2s... HOY st. L. & I. Mt.
Q, of Ga. 5s....1o67s consol IS .....117K
LIST Inc. ..-..... rs st. L. & San
Ches. & o. As. 1851 Francisco IS =. 971k
G. q A 319s-... S. St L. 5. W. Is. 96l2
G. B. & .. n IS. 90 Do. IS - 1917
C. NJ. & St. P. San Ant. & Ar.
general IS ....I2 Pass As 800. S9k
c. &. N w con- Sou Pac. 4s.... $685.
sol rs 49,. ....14O12 Sou. Ry. 5s.... .1241a
G. r. I. & Pa Tex. & Pac. SIX
cific IS -. 10Th Toledo. st. L. &
c. c. c. & st. L. Western IS =. 81
general As 100 u. P. 4s.........1071k
Chic Term. As. 50 Conv. As 1861
Colo. & Sou. As. 9012 Wabash Is ......I1Slz
d. & r. G. As. .103 Do. Is ....I15
Erie D. l. 4s.....1 O13s Deb. B - 66H
General As -. 91A West Shore As ia
Ft. ". & Den w & L. E. As. 91I5
yer City Is LOS Wis. Cent. As. 9O55
Hook. VAL h4s .1099s Cons. Tob. As. 65Ss
Stock Quotations.
Atchison -. -. SOS So. Pacific 49,. COS
Preferred .....102l2I Sou. Railway .. 34ls
Bait. & Ohio. Joss Preferred -. 997s
Preferred 49,. 80 Texas & Pacific 39lz
Can. Pacific ..119k lTol. St. /. & W. 17I2
Can Southern. $50 Preferred ~ IS
Ches. & Ohio... AZ Union Pacific lOS
Chic. & Alton. 342z Preferred -. Sgzs
Preferred 49,. 75&4 Wabash -. 223s
Chic. Ind. & l.. 52ss Preferred -. 42%
Preferred 49,. 169z " heel. & L. E.. 1872
c. & z. Ills.....1S59z Preferred -. %
c. & CT W.. 241sWis Central 9OSs
A preferred . S3lai Preferred $500 41IL