The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-02-18

hank return, which had been clearly
trasuaGowed by the record of sub
treasury operations for the week by
tla COURSE u the New York exchange
al other domestic Centers, and by YES
tsr.ags preliminary estimates by the
banks themselves of the currency
movement for the week. AS is the in
7.-H. rule where a condition has
been H-.urately tOreseen and discount
eI tar event brings reaction due to
the taking of speculative profits. either
on rG. long OF the short side of the
L----.
u .niays market the bears started
20 cover their short contracts after the
bank statement and worked a sharp
rally. some stocks were attacked anew
i. OH. 1u5I dealings. making the close
irregular. but the general list was firm /
a. fh. rally. The bears found Pacific
Mail vulnerable 10 further attack, and
had some success with Peoples Gas, /
but Third Avenue offered some resist
ll.a. A large selling order was de- I
te.teI iu National Steel. and that stock /
VAS offered down ~, causing sympa-
tl-Ie declines in ii number of the other |
metal stocks. Federal Steel preferred |
fell am extreme pa, National Steel raj /
lied. but dropped again 10 the lowest |
and American Hoop fell suddenly an /
extreme las i'm the final dealings The 1
developments ia the money situation /.
may account for the weakness IN the I
iron IudustTials, as they are still looked /
upon with disfavor by bankers and |
uuue- lenders as collateral
The dsrTease in the cash account Of /
the banks C0nfOrmed very closely to /
preliminary estimates, and the loan eX- 4
IauSluu of $l36NI.-uO created no great /
surprise, in view of the recent tendency
and the wcil-known pressure for ac-
commcdaticns i'm all parts of the bust
Ness world.
The weekly trade reviews sufficiently
Indicate the widespread activity in
business i'm all lines at a high level of
prices. Surprise is rather felt that call |
money should have continued apparent
iy I'm abundant supply at per cent /
during yesterday, It is difficult TO dis
Germ any prospect of early relief from
the factors which are making iur0ads
on the banks cash resources and with !
continued pressure ON the banks at the
present rate Tor credits. the enCTOach-
meuts upon surplus reserves must be
rapid
Generally speaking. the tone Of the
stock market has been firm this Week I
but dull. the average days business
falling considerably below half mil
lion shares. Advances have been made
and no" there but once made, they
were yielded Very grudEInEJy in spite
u. the dulluess.
DC became promptly manifested Tues
CtE when the week opened after Mon I
days holiday that the previous weeks
burden OF realizing sales was mo- luuEg'
..+sinS on the market. and operations
lE bull pools forced by professional /
stock traders, quickly showed them
selves.
The strength of the market was due
iH the growing convection that last
years. prosperous business conditions
INV. o. fair chance Of continuance But
The Ero.e. H.onal operators in stocks
H.-. the only persons 20 manifest tle
courage of taei- convictiors by buy
Ir- stocks ON any considerable sea G..
The -enerll outside public maintained
OIL auItletic attitude toward the mar
h.. Last week S reduction in prices, s
T..u news was all favorable caused ]
HH- ANA listrUst in the minds Of out 7
s.-rs. a"d they have refused % come q
back into the market this week.
L-. public apathy has been a weight
20. .-" market, and the weakness of d
Individual stocks from special causes I
..- been a further disturbing factor.
--. failure ot plans to fund the float .
Ing debt nt the Third Avenue Railroad S
company. q poor season for the rubber
"-He To .Ae me weather,
...-' OF coming suspension Oh 4
...'. ..''aeHGr on racine MAN. Ie-
'...- ..AG issue py OoHlihenlal To- /,
..... .-hI l' s,9lA on new to--s y
.-. ..-.s... ,.t,--5, --.---7 ---,7--,-,- i'm [ f
"----5 1850 ilSl'
-...Ha ana checked me duNdhS- %
'.S iH tue general l-7l. AUG, -Auu I
--7i. g7-'l'l 20 ga -l..I- s'Dou y, =
..e ll 5l-. mar Me-. ~ a