The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-11-04
STOCKS N THE EAST
Trade Is Dull. But With Up
ward Tendency.
CONSERVATISM GENERAL
WEEK IS NOT so ACTIVE AS THE
ONE PREVIOUS.

,-.r- York. Nov 5-The attention 81
--,.,- OK .Eauge brokers was largely di-
-a-.a4 I'd the political parade today
and trading was almost entirely con-
e-a5 TO the closing up of contracts
over sunday or until after election
rrrr hears were disposed TO cover, eFl-
IDENTIFY. as prices moved upward Ior
-r. mos. r.rt- Inspired statements re-
--.-4-ra the heavy earnings SHOWN rom
7.-ar..rHsuS iu some Cl the great sleei
generations and report thdl large
contract fu South Africa had been fe-
..r.F .y the Pressed steel cOmFIHy
r.#r.f the latter stock Co the extern
~ .rra- points and other members or
--. ,-r.fIp Z to H. There was an ur-
-r demand from q snort interest IN
-,.-..- and some of the New NOUl. UUh-
d.. utilities shot upward buOyantiy. In
-a. railroad list gains were smaller, but
...rar4r Louisville & Nashville sold
I'm small quantities az l9s over last
NIGHTS level and few other rallrcalS
-sraH a rufnt Just before the close
-.-..a- ran off sharply on profit-taking.
which was conspicuous IN sugar ana
1.-..ET-u Transit. The tone was easy
a. tho end Sentiment was not much
4f-..muozed by yesterdays furry in
.Ea .aI loan market. as it was attrIp-
,.-.4 fr rart to- manipulation. Tie COM
E5-4.us which made the manipulation
-=..-fva are felt to be temporary, and
rba aufek weakening OF sterling eE-
change Yesterday in response to the
visa fu money gave confidence that any
confinement Tor money would draw adj
EftanaI gold from Europe.
feature OF the outside was bidding
mn of standard oil from go to 60. The
previous high record for the stock was
5l1.
Week Is Duller.
last weeks rapid speculative gait
has been checked this week, and the
,rrrua of dealings has fallen of to
raa~ 5He point of midsummer dizziness.
There is a disposition i'm Wall street
90 attribute this to a judiCious curbin6
Urogrs- bv what are called 1.-The con-
trolling interests" meaning the inter
esI5 which are deeply committed 20
speculative ventures. This is So far
true that the inpTiiUate manipulation,
which was the feature of last week 3
dealings. has been largely discontinued
ID is also true that the commission
houses in Wall street have advised
their customers against further COM
uftruauts go stocks. some of them have
demanded additional margins to hold
stocks over the election. thus forcing
some speculative holdings upon the
market Some observers have attrib-
ur-I these measures to an altrUistic
spirit uu the part of the controlling
interests. 1r at least Jo a cOmmendanle
seIf-restraint about taxing all the good
rhng- iu sight. But additional mo-
uyes may be disceTned. the foremost
being the possibility of pitfalls in the
q nRsFIff4nlr <r4afsT1IEfT
gait as that pursued last week and
previous 90 that time. The speculation
has been based ON the assumption that
q large demand foi stocks viii sprinS
UP after the election Uu the part of the
public al large. The industry expended
in getting prices TO d higher level has
been intended to accommodate this eX-
Veered outside demand.
EuI it became evident last week that
the outside public. with a degree OF
souhi-ticatiQn for which professional
Wall street does not always give it
credit. was itself disc0unting the ex-
Teered demand by buying stocks This
development threatened the future in
Two WAYS. 10 cUrJaiIed the require
UeIts to De left untitled until after
election. and ID added 10 the volume
of long stock which would be thrown
upon the market to realize at that time.
The controlling interests therefore,
sold large amounts of stocks to feed
tEs~ aDtieIHatoTy demand and called a
halt TO the rapid advance in prices,
winch had been she means of attract
iu@ Ir
The advance in the money Eate dur
ing the latter part of the week shows
The wisdom of precautionary mea sures
adopted. Had there been much larger
amounts borrowed for speculation the
disturbance Of money rates would have
been more severe. and the forcing OF
liquidation on a much larger scale The
s..ueuluE of the call loan rate is at
raUte1 Ju the eNigencies of the
monthly settlement. and il is hoped
That with the redistribution of the
amounts thus borrowed i'm the form of
dividends and interests there will be
returning ease OF money next week
Needless tn say, the controlling inter
es.s a.~H hope there viii be "a renewal
@. speculative demand for stocks with
u" easier money market. on the side
O.. promised ease of money are the fur
t.-T amounts rt imported sold which
at" SUI. IH De- received and counted in
it-h reserves. These include auotIg-
Consignment of over So GG0. 600 i'm transit
'.".r Australia There are larger sums
@. Alaskan gold also i'm sight
BUSINESS iu bonds has been on a de-
,.N.HE scale and largely concentrated
j. a. L." mortgages of speculative val
1-~- Prices have receded- United States
ROW and old IS advanced as. and all
'-"-T issues b per cent over the cell
price O. week ag0.