The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-07-28
COMMERCIAL AND
FINANCIAL WORLD
Trading of UnimpOrtant Di
mansions on Wall Street.
APATHY AND INERTNESS
oraIINGs ON EXCHANGE WORK
OF PROFESSIONALS


~,srt is required upon today's stock
--erket. The same conditions Of apathy
- iuerrnesS that have been gaining
81 the week prevailed. Trading was
81 rnimpOrtauL dimensions and the
,-ica movements were without signitlc-
srfa The public was entirely unrep-
-sssnted in the market nd the meager
t-sding represented Onl- the work of
-,r1fessiCual Operators of the SmGsler
lass TO induce some movement Of
--i-es hat would offer them days
1r5ft whether on the up o. down
grade.
+oa certain extent in the grangers and
par{fcs overshadoWed the rest of the
market. The steel stocks were strong
IN the same kind of operations as those
nj Yesterday. seemingly based on be
lei i'm an early triumph Of the cor
r7-atiou I'm the strike contest The
cannon stocks rose an extreme 1l2
and the preferred 21s- The corn carry
ing railroads were benefited by the
yrea kuess OF the corn market and re-
rorts Of the breaking of the western
Drought
The Canadian Pacidc's Vubsidiary
roads responded TO the recent strength
in that stock. The tobacco stocks,
Peoples Gas, Amalgamated Copper
and American Cotton Oil and few
others were notably strong. Traders
sold the market on the increase in
loans reported by the bank statement,
but they Induced no following and COW
cred their short lines before the close,
which was steady at the recovery.
The week just past has given pretty
clear evidence of the elimination, for
rhe time at least of the speculation
for the decline in stocks and for the
rise in grains which has been going
raF- a.He he
whole of July. The effect on the stock
market has been feveTish and irrcg-
ular movements Of prices with mar
rowing fluctuations and decreasing
volume of business. According to the
invariable rule in speculative move
ments of any dimensions, this one has
overd0ne itself The consequence has
been reaction from the recently pre-
vailing tendency. Stocks have recOv-
cred and grains have Telapsed. Mon
day mornings prices were the lowest
of the week, but did not reach, except
I'm a few cases, the level of the pre-
Ceding Monday.
Expert estimates Of the corn yield
on the basis Of the damage done. re-
veal that a large traffic yet remains
for the railroads from the crop and
the important compensation of q sue
cessiul wheat crop IS urged. The Tela-
lively smaller proportion borne by tho
grain traffic on tho western railroads
10 the total tonnage is taken iuto con-
slderauOI. But when all is said, the
fact is still recognized that the IN
precedently prosperous conditions Of
me last year are already altered with
the final outcome of the steel strike
SUu 10 be reckOned with Even with
the severe losses already recorded from
lne nigh level Of the year in the prices
W. l4llL'ao STOCKS, the fact is kept in
NINA lhaJ the high level was beyond
an warrant I'D actual conditions and
represented d. large decree OF ar,a,,1Te,.
tive imitation.
Questioning arose. which found no
pace in the excited period of ban spec-
I-a--lH- as To- just how stocks are to
ll--elL I'D value, even supp oSine all
lldI has been related of ConTol1nifv of
interests and passing of control IN
Centralized railroad systems be true
me process Ia almost every instance
was approximately he same and in
vowed the purchase of control at high
prices and the issuance OF bonds ahead
o- sAs STOCK or the purchasing rail-
l'ad. IAeSe bond issues are of vol
uu- lldl require high earnings .,f rr7a
most prosperous years by the pur-
yHaSeu roads 20 pay the charges uDon
len ana 10 keep the system ont of
oa-AI uptcy. Another cOnsidera ti0n is
enormous amount Of capital and
gltS ued up i'm the purchase bv syn
u-gsJes OF various control
Inc beginning this week in q small
10y vL the transfer of currency fo tho
interior TO move the croDs ca5ls -
tl1oh 10 the fact that recent Iiouida-
~. 49, ~ lhe stock market had as its OBJ
80 PREPARATION 60 meet this racuira-
-H~ and not to supply means for =,
orl - speculation il stocks. The
Min -. also arises whether this year
i-Is-:'1 lue normal response to this
-'i movement of currency in an
lo" or gold from abroad 1t win r.
l-I1eied that since the South Afrf-
HaI eut on the supply of gold from
~pe' Jne United States has eaao
-, '.-po' tanJ inflow of gold when orr
A. OF toodstUffS begins to 60
me-. ms vas true in spite of a
favor ,---e export balance in our
~. unprecedented in our history
ms E money markets look for a de-
80 - 1ol sold from New Yorl, IN +ba
s--.t-, olJ as 20 their ability To meet
srs- --i--io-llles are not agreed. .Tbe
lsrsI i've outlook from the present
r7iva5 u prices is thus seen to be much
BUSINESS in railroad bonds has b.e,
e-,-aIi scale. United States rafln,5-
for 81 nave advanced Il per cent on can
Bond Quotations.
reglsfe-.s,5' '''-'.- ,-- y Y Cen Is 94ss
Z. s q ref-s .'''-t. A. j. 9 gen. IS. 129
C0upoD 49, NO Pacific IS o. 72i4
e. s Is -ii.t+t No. Pacific IS 102ss
3 IS couD 1ra ~ - q 81
l. n Is Is res Teg. lss5is y & W. con. ls.iSs y
I. S. az 49, ore Nav 1s.---10Tlg
s. o. Ia -o-s-----9 ore. Nav 4s----.1Go
y, S IS 80 p-+ts q. s. i. 6s III
s S. Com 20 o. s l. con. IS .117zi
D. q q ---g Read. gen. IS %
f,ssl- sea. As I58u e u - ,-i1o'a
SSlcA. adj IS b 81 L. & = M
- % Is Tdl.L g. - -'AA1
4 Ohio pss f5Si 81 T. g 5
* n ". con 81 - -.-''' -
& x 'ry1r-'.-s.li2 St p. = & P. is.I26
-. DEB - 80, s.. p. -. & p. IS III
~ Ter. Is ~ s. FsteiIlc is g
.o-o. So 4 - - So Railway IS -1I5a-
F.e + G S. 763 T. q II os.-- 81
Ere gen q & Pacific Isis
w. & n ~ % II a. P3cific 2s SEA-
- ---.. rat 1nl0n Fac. IS 100
- E.sc ~ nv t9ash is ...... ISL.
1--WE Cen = - ~ Ihash - lip
T. n mi 112 III ~ est Shore Is. I12ts
& " is Cen. Is 07s,
r. d T. b 81 "a Centuries 90 g
Atebss,- stock Quotations.
rIeferrei 5tsI So Railway &C.,. 2qIs
q Ohio ''-- preferred .. 81
-rreferrss 5000 csSis' N. & Pacific .. All.
an Pacific - - - O ST. L. & " q
& ONO H. p. JEiou Pacific - 9si5
Alton 5s preferred ----- SSi
q '---- s57z Preferred 1900 Sq1s
=. Freferrad vs.. O. l. E.. IS
T. preferred .. 2si5
= G. Wis Central 20 z1s5
FreferraF A. S5t| Preferred . n
,Freerres Is 80 = C-a,r. & St. -
n " "a ADAMS Exp .....11t}
q . Z q p -si-. an Exp ----.--i90
-