The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-12-16
STOCKS IN THE EAST
Easy Money Makes Other Mar
kets Strong.
FUTURE LOOKS BRIGHT
CONDITIONS FAVOR AUsPICIoUs
OPENING OF CENTURY.

CCTor-ud over night that a speculative
--5lIrst involving, as 1t did hlgh-graqe
U"+1r-gd stocks had more significance
1 fh. apparent imminent relief to the
- r79TEe- on the forthcoming enOrm-
--s disbursements by the government and
Co-r1rate interests me StIsEt having
g. Ind The successful deal in the an.
+b~4cfre coal industry, was inclined TO
rsrr~d with some credence the various
mos afIOat as to the absorption or
-e,rasartatiOn in governing boards of
r7frraaGs having favorable geographical
i5cstfOus. This policy tor community
ri interests is expected 70 pflnS about
- stable economic conditions and re-
rrre 10 a minimum the possibility Of rate
We far as the rank and file Of snecu-
7.-7rs were concerned the expectation
trsr the mucb-heraaded pinch in money
lies would not be reahzed was sufficient
=. revive the bulllSh spirit Whlcn mas
- dominant for some time on this aC-
ro.0t IoudOn's response 10 our buoyant
[ra5e of yes srday was encouraging and
5r-rsu-r The course UI the day the foreign
~-.-l-et n0UElJ about I0,OuO shares. At
he opening pronounced advances were
made on various stocks, but depression
yrf= noted I'm others, ana II was not until
rf--- The publication of the bank state
--.r- that the advance assumed import
an and the market became very ami
mated and broad The demand and most
substantial gains were made IN the IA
riffcs S.. Paul, Sugar, AtchisOns and
Fr5eEI-n Transit. Union Pacific and
Northern Pacific ruled at about parity
----9 lust before the close, when eX-
,F-sd 6uyin. of the latter rushed it up
IN -frr compared with 42s at yesterdays
close The earlier heavineSs of the steel
stocks was dispelled and they closed with
small gains.
World Looks to Jan. /.
e,acuIatf0n left off with buying very
confident and the tendency upward All
III. world looks 10 Jan. 1 as the annual
settlement period for collection and for
rsrmturs. Al no other inc o. tH1 vedF
Is So much money needed for exchange
and such large demands made Tor GER
,f+f-ara- Those who have their own re-
sources available while not active bid
fars for loans, reduce the available cred
irs but putting their money to their own
f7r lending The sum OF the obligations
10 be ID on Jan. 1 next in the United
states is greater than ever before. A
large ur0p0rtiOn of those obligations are
for interest and dividends on all sorts
Of securities representing a dlStrlDu1
n earnings from profitable business The
fact that the sum is the largest this year
I'm IT, cOuntry's history is therefore con-
ei5er.pie proof of the cOuntry's prosper
it, but the fact is not altered that this
process Of disbursement OF earnings ana
On am the vast and complicated maChin-
cry Of exchange and money
Bearing on Stock Market.
The special bearing of this condition on
The stock market lies in the fact that the
CAPITALISTS choose to place loans for use
in specializing in STOCKS only after every
other form demand for money has been
fully suppl 1t is not strange, there
lore JhaJ tus stock market Is keenIy
sensitive TO the showing Of the surplus
reserve item Of the banks. as the SHRINK
age of that item represents the certain
prospect Of calling loans and forcing TO
sale securities held with the borrowed
money. Naturally, only stocks held for
speculation with borrowed money are
19-cld 10 sale at time when a money
pinch is in Itself an indication OF acJlNe
trade and prosperity. Holders or Secur-
iri5s who own them outright are FaJheT
inclined to add to their holdings at sucn
a time than to part with them, 50 TAR
as their means viii allow. Foreign hold
ines Of American securities are so mucn
reduced that only small offerings would
be expected home by a money SJElhSehcy
and there is no fear OF gold being drawn
abroad unless in the event Of a CONFUSION
IN foreign money markets
The market for railroad bonds mas Deen
z.--.a and broad during the week and
prices are higher on the average. United
States new > advanced 4 ans IS = per
cent over the call price of week ago
Bond Quotations.
T. :. ref. Is VII. n. Y g Is -----1093s
issued reg. ---- lp41z| n J. e. gen. oS. lzt 3
L :. ref. Is VIII No. Pacltlc IS tu1z
issued coup ..lg5 No Pacltlc IS -Iu3;s
T. 5. 3s res. -1057s \. Y g & St.
T. 5. n. As reg. 1881. \. 8. w con. As s9sl
T. :. n. As coup 1854 Ore. Nav Is los
r s o. Is reg .l14a4 ore Nav Is LUZ
T.. :. O. As coup. ll5e4 Q. ) l. bS IFS
L. s. SIS reg .-.-1ISl4 O. S. L. con. 5s.117
L. :. = coup .I13F Read. Gen. IS o.. g3h
y. of c. COS .124la r. G. W Is. -l00is
Atchi gen. 4s.-102 st. l. & 1. NJ.
A-chi. adj. is. SS2s| con 5s .1l5
Can So. - -1oSs4 St. I. & s F.
e. d5 Ohio 4zs.-l04 gen s. --------l2S
q. x Ohio 5s.-.120Il st. P. consols. .17S2Z
O. a y. W. con St. p. G. & r. 1s.120IR
5 .z5g1s. ST. 2. {. K p. s.1221s
C. G. n W. s So Pacific As. S2ss
r Deb. 5s ..-12I So. Railway SIS. 1855
Chi Ter IS - % s p & T. 6s... 20
Colo So IS ..... 50 T. & Pacific Isis
j. * r. @. As .10l2s T & Pacific Is. so
Erie gen. As . SO Union Pacific 4s.I07
F. W. & D. c. Is 1872 Wabash Is -----llI12
Gen. EIec. IS ..1425s Wabash 3 -----1OS
ia Central IS ..115L4 West Shore 4s--1l5
T. Is y Uni IS. 101la Wis. Cen. Is -.-. 8Il4
N X & T. 2s 74ss Va. Cemeteries 90 S53s
NJ x. & 7. IS . 94lzI
Stock Quotations.