The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-05-30
UTAH BOARD TO CLOSE
The New Exchange May Take Va
cation.
BUSINESS IS VERY LIGHT
MEMBERS PRACTICALLY DECIDE
TO SHUT UP SHOP.
Movement to Keep Doors Closed For
at Least Two Months-Stocks
Were Dull Yesterday-Daly- West
Was Firm, But Most of the Others
Showed No Improvement.

The Utah stock exchange will take 8
summer vacation. At least, the mem
bers of that board have practically de-
cided on move of that kind. and it is
very probable tomorrow's call will be
the last for at least two months t.
come. One of the members of the
board of control said yesterday that 3
large majority of the members of the
board believe it useless to continue the
! calls with the stock market so fear
fully depressed. Another said all the
business being done now was between
the brokers, there being practically no
market for stocks of any kind on th.s
outside. There are a great many of
| the cheaper grade stocks, he said, tina
ought to command better prices than
they do now. Some people have bought
them at higher figures. All stocks
have slumped, and those who have paid
more for them have gotten nervous and
want to unload at any price they can
get.
He expressed the opinion that to
have these cheaper grade stocks ad-
vertised on the boards every day at
such scandalously low prices was apt
TO be misleading to the public, and
cause some to believe that certain
properties are no good, while in reality
they have merit in them. On the other
hand. the broker felt quite sure he and
his fellows would be able to take care
of ali the business between themselves
on the curb during the warm months.
1t is possible the Salt Lake board
Will close, too. However, no move
toward that end has been undertaken.
Some members favor closing, and have
talked about it, but no one so far has
had the courage to express himself on
70 hoo IL fT..- Is 11sx, 1,1
laughing stock of the exchange. Any
way, no member of the Salt Lake
board wants it to be said that the rival
exchange has u the best of them and
held out the longest. The closing Of
the Utah board may stimulate business
on the other exchange. but if the pres
ent depression continues, it may fol-
low suit.
Yesterdays Trading.
The Schley demonstrations of well
come to Salt Lake very materially in
terfered with business on the Salt Lake
exchange yesterday. During the call
the hero of Santiago bay passed down
the street in the procession towards
the Lincoln school, and the brokers
hurried things through in order to get
a glimpse of the distinguished visitor
The Utah exchange outdid the Salt
Lake board in the amount of business
transacted, but even the brokers on
the former board didn't do anything to
be proud OF. The market was fiat and
absolutely featureless. DAILY West saved
the day on both boards, and was the
only stock really showing any activity
to speak of. 800 shares selling at 1898.
and on the afternoon call 400 more went
at 1897
Grand Central was spared for, and
the stock sold for IS, while another
block of 100 shares brought l cent less.
Northern Light continued to drop be-
low the figures of last week, and fell
down to 611a. Star Consolidated sold
at 9515, and 200 shares of Geyser-Mar-
ion fell into the clutches OF the bears
at 65.
On the Utah board Antler was a
heavy trader. with no perceptible
change in prices. Bingham Gold Placer
stock was in demand. and one broker
bought 600 shares at &c cents. South
Swansea remained about stationary.
and Cedar Valley exchanged at y of a
cent.
The quotations posted by the two
exchanges We're as follows: