The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-11-09
BEARS RAIDED
STOCK MARKET
Heavy Selling Gave Impetus to
the Downward Movement.
AIR CHARGED WITH RUMoRS
SUPPORTING ORDERS LACKING
AT YESTERDAYS SESSION.

New York, Nov. s.-Very heavy SELL
ing of stocks, the source of which was
mysterious, developed on the stock ex-
change today. Possibly for this rea-
son the selling gave rise to many ru-
mors of somewhat alarming charac-
ter, pointing TO financial troubles. Re
ports were also current of large forced
LIQUIDATION by one of the leading specu-
lative operators Another rumor was
to the effect that the United States
Steel corporation had in contemplation
a sweeping reduction in selling prices
ali along the line. Still another was
10 the effect that the secretary of the
treasury was about to make. drafts on
the government deposits with the ma
uonal banks in order 10 replenish the
governments own working balance.
The opinion found some hackers that
the whole movement was a planned
bear raid, the supposed leader being
the very leader alleged to be under
pressure by creditors and forced TO
hquidate long stocks
The proved untruth of some of the
rumors circulated pointed TO the activ-
lty of bear traders There was not
much evidence of supporting orders in
today's market, and the demand from
shorts to cover at the last was not suf-
hcient to overcome the continued pres
sure TO sell, so that the closing was
weak and in some cases at the lowest.
Declines reached two TO four points
on a considera BILE list of active stocks.
slump of nineteen points in Della
ware, Lackawanna & Western. on the
sale of ESQ shares attracted considera-
BILE attention.
The bank statement showed a de-
crease in cash of s., 464 600, which was
y, 900 more than expected. The
small loan contraction of S3,O29, 100 lost
some significance of the known fact
that new loans have been secured
abroad during the week. The sus-
tanned strength of sterling exchange
also kept alive the question of remit
tanees abroad by gold shipments. This
situation would account for some de-
gree of renewed pressure upon specu-
lat1ve borrowers.
Bonds have shown the same irregu-
lar tendency as stocks on small vol
ume of business United States Is and
Old As declined u per cent and the IS
advanced a per cent, as compared with
last weeks closing call.
Bond Quotations.
L: S. ref. Is F; w & D. c
U, S. ref. Is Hook tsa val 4Iss i 49,
coup, -...-.. .l091aIL. & n. Uni IS. 1919
y ) IS reg ----10SlziM- c. As .----.-.- SOL
y. S: IS coup. -1Os1z M. C 1st inc. 2S122
Z. 5. new As NJ. & st, /. As. 1O35s
L. s new Is NJ. K. & T. 2nds S21z
U. S. old Is reg. ii6& \. Y. G. gen
COUP: .......Iloss n ! 9. gen, 5sisS5s
I. = Js reg. --le434iN- p 4s...-..----1 1852
Atch gen is.ioi&N. { w con. As lo o0ss
Atch adj. 4s Sls4 Reading gen. IS. s794
3. & o. As ....,-.-1005s st LIZ l. NJ
B. & Q. S1Es =. s43zI con. IS ........114
B. & o. con- As. 1O7 st l. & S F.
Can S ends. .--107ssl As . 975s
C of CT. 5s ....-.IO7 st LS-w lists q7IS
c. of G. LIST inc. rs St. L. S'w. 2nds s.
c. & o. 45as -. .IO51zlS A & A p As 81
c. & A. 312s - ST $50. Pac. As - 9ss.
c.. B. & Q. new So. Railway 5s 119
G NJ. & St. P. . + St. Il l. is{ { W. l10A
G & n. con. IS. 1851 o. Pac. is....nd 5Sls
.. K. l. q z. 4s.l0e Z. P. con. As. 1857
Z 9 G & St l. Wabash lists ...I171z
gen; As -1o1 Wabash 2nds .1O9
Chi Term Is 81 Wab. deb b ~
Colo q ;. is -. s234 w. Shore Is 1884
d R. G. As. -10l W. & L. E As 925s
Erie pr. lien is. 97$tiWis. Cent. As. 9112
Erie gen 4s 50 Con Tob, Is .--- SIS
Stock Quotations.
Atchison ..-..... $3.50. Pacific 49,. 675s
Preferred ----- $3.50. Railway 49,. 30
Bal & Ohio. .102 Preferred - %
PREFERRED -.--- S31[ITex. & Pac...... 43St
can Paclflc .-l2 T. St L. & w. 293s
Can. Southern. 81 Preferred 49,
Ches; q Ohio. IS Union Pacific ..1021s
chi 4 Alton -. 341zl Preferred -. g1A
Preferred -. II Wabash -. 22Iz
Chi Ind. & LIB Preferred As
Preferred ----- 81 wv & l. E. 20
Chi G. Vest Z75s Second pfd..... Sc
preferred .. "a wis. Central - 25s.
p preferred = 4Z12l Preferred 49,. 5012
Chi. & invest. -22S4 adams Elk. 49,. 200
=: X l. " P...--l9Z tAmerican Elk 230
chi t q t. 1sS4IUnited States I33
PREFERRED ----- 30 iWellS-FargO 225
Colo: southern. IS Am z. & F.. ssis s
Second pfd. Az Am. Linseed OH Is
Del. & Hudson. 1895 Preferred 40
Del l. q YES Am, S. & R.. 49,
u; q X G--.--.- AZ Preferred 80. 81
Preterred 49,. s91s lAnac. NJ. Co... ssh
First pfd.;;;.,.-. 65z Colo. F. & T.. Ss4
Great n. pfd....1S6 Con Tob. pfd us
Hooking Val. =. Us Gen. Electric .1SO
Preferred -- 90 Hooking Coal .. 20
Ills. Central lib lint Paper -. Is
Iowa Central 3912l Preferred 49, Y
PreIerred ..-. 6S Int Power 49,. So
Lake 4. * W. % lLaelede Gas 49,. 50
Preferred ....120 Nat Biscuit Az
Louis a Nash -1Sls4lNat. Lead ...... 261z
Manhattan l. --1341zlNo. American as
Met. 81. Ky: - .13a1kl Pacific Coast -. ~
Mex central - 241slPaeific Nail 49,. 40
Mex National h Peoples Gas -..1O114
NJ & st L4---l0I Pressed s. Car. 500
Mo. Pacific ..---107z Preferred - 9liL
M X < r. ia Pullman P. Car225
Preferred -. IS Rem Steel 1gIs
n. J. Central .-.165 Preferred -. Us,
n. Y. Central ..I5l5s Sugar - 1IlIS
Nor. & Vest. 702s Tenn. c. & L. 6l5s
Preferred -. 80 L. B. & P. Co.. 12l5
Ontario x W. Preferred -. 77ts
pennsylvania ---19lsslU. 8. Leather . 49,
Reading =. -..-- 90 Preferred Sg1f
First pfd. .---.. S5AlU. S. Rubber -. II
Second pfd.-.-. g Preferred 49,. 81
ST. l. & s F.. l611lU. S. Steel 49,. 37Ss
First pfd- .----- 81 Preferred -. s.
Second pfd....- 4l7slWestern Union. SeA
ST. l. S'West T Am. Loco 2S
Preferred 49,. 631zl Preferred - 925z
st. Paul ....-..1Sl9slK. c. Southern SO
Preferred --.-.1 9212i Preferred 49, 5S5s
The Bank Statement.
New York, Nov. s.-The weekly state
ment of averages of the associated
banks show for five daysl the Follow