The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-05-27
Market Is Dull and Without
Feature.
MORE ACCOUNTS CLOSED
OF PRICE-MCoR.
MICK AFFAIRS CONTINUES.
Firmness Rules Throughout the
Greater Part of the Session, Al
though There is Depression and
Lower Prices at the Close-Cotton
Rallies and Some Shorts Cover.

New York. May 2s.-There was No
ehanse IN conditions in the stock market
/ Ioday- The depressing influence of the
idiiufe on Thursday continues to over
hdhg the market and TO discourage ans
speculative activity. A large proportion
OF the days small business was given
/ over TO transactions in settlement of the
Ialled Ilrm. affairs. The firm OF brokers
whose buying yesterday was said to rep
resent transfer or the accounts of the
customers of Price, Mccormick & Co.
Was again conspicuous operator today
IheSe operations represent a re-entry ir-
~ me MARKET OF some customers of tbs
AdIleU urn 10 whom loans were paid 0ti
When their contracts were closed out TN
der the rule of the exchange or whose
commitments are taken over from the
suspended firm by other houses. This Op'
efaCOn IS a sustaining influence on prices
ana was especially evident today III
Union Pacific The prevalent belief that
the banks which hold The firms collateral
would not place ii on the market for fore
ca sale 10 llquldate the loans also served
10 relieve apprehension to some extent.
Authoritative denials of some of the rlI-
mors put into circulation OF further finan-
cial difficulties were an influence toward
relieving depression.
These factors, it will be observed We're
rather negative In character, but they
served to keep the market pretty steady.
Inc sharp rally IN cotton was & favorable
IactOf- me shorts covered in Sugar,
railroad earnings were reported faVor-
able and especially those of Hooking Val
ley and the AtchisOns and the strength
of those stocks helped the rest of the
market The closing was. nevertheless,
heaVy at concessions from the highest
prices.
The bank statement was about as ex-
pected and was without influence on the
market. The stock market has been dull
all week and operations have been almost
entirely IN professional hands. Commits
sion houses IN Wall street are almost
deserted ana no orders Of Importance
come TO them by mail or telegraph Sew
erai OF the professional stock operators
whose dealings have been on an extern
slVe scale have joined in the summer ex-
odus TO Europe, and so far as indications
snow. have withdrawn from an active
snare IN the dealings in stocks.
With the public out of the market and
the professional trading relegated to OPP
orators on q small scale. there has been
little to reflect the general conditions of
business except as the dullness is a neg
alive indica ton of the doubt and confu-
sion Regarding the trade outlook The
cause anything ike decentralization in the
market, bat il had a decidedly unsettling
effect on speculation. The confusion and
uncertainty caused by this event had the
effect of rather increasing the apathy Of
the stock market The growing plethora
speculation, This is because the phenom-
enOn IS clearly due TO the decreasing ac-
uvitv of trade. In the iron trade partic-
ularly the further shading of prices and
the shutting down of additional mills has
resulted IN only slight additions to new
business.
Dealings in bonds have been small and
unlmpOrtant. Reminding IS. when issued.
declined = and old IS and IS u in the bid
price. The Is advanced Is.