The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-11

emerged RON its gloom this morning
and Nirh growing confdence%n the Gay
nauifested something ike buoyant cIa-
tipst Prices OF stock went up With a
ton. ana WITH the net losses left aIter
yesIerda5 s session pretty largely re-
clAgreQ. lhcrc were some clouds re-
naming on u.e situation this ucTning
Violent collapse cf YESTERDAY should
have some casualties which .NOuld not
3e closet until TIE cieafing house
s@eers 81 thc stock exchange bad been
made up Barry in the d&y theroEFeia3
announcement was mace that tbs
sheets ~ an the members OF the ex-
Change Had been cleared perfectly. and
that all he checks had been h0aOred-
henslon 8nd the feVerish and earnest
sisns. 81 hieh were mauifest in the. stock
Warkel during the iirst hour disap-
i-Attu- iIlngS guieteQ down INTO n
steady condition of businGss such as
mas nor 9fen Witnessed ia Wall street
The measures al ken ovfF night "a
clear the situation lcft ifttle to hear.
he aEreemep- To allow the shorts in
Aorthern Pacific % settle at 100 realty
went TO the root of the crisis and wei
Nine4 out the 3mpellng cause OF yes
tcEGay 6 panic. me announcements by
the banks that Yesterday loans which
had been provided by a greement among
the leading institutions of the street
would not be called today kept the sit-
uatIou nee from additional tension.
with threatening conditions removed
rebound in prices was naturai and In
was. however, a surprise. and was att
frlbuteQ ~ Variuus causes. There is
90 GouDt that among those who were
heaNy losers 10 yesterdays slump. were
many Of ample resources who viewed
me SITUATION with . sporting instincJ
aad determination % recoup losses
boy following the market.
Western Hen to the Front
IL .a the. popular belief that some
Of the western pottntates Who svere
admittedIy forced to walk sidev i 81.
during a portion Of yesterdays everts-
mon in bold attempt TO retrieve their
tosses- The Obvious leadership OF the
movement Of Union Pacific and the
sodtn Western gEoup gave ground. f0T
me conjecture thaA 81 was based on
bfneHts exEected 20 accrue 10. Mon
PecihC FROM b control If Northern Pa
Ciic. control which WIS sim stoutiy
c'aimed today hl1t as emphaticaHy de-
MED by the H3u-MorEaD parties.
1T Was feInaf kstple that the breaking.
q ne corner ir &CrtheTu Pacific by che
sellement With the shorts an l59
9fpuEht almost no syock upon the mar
set. But 81 is evident that the- contest
i7g parties in Northern Pacific gre NOT
yeJ p.Fpared 70 let go OF n single aNafI-
able share OF the stock The settle
uent with the shorts progressed today
"a lne Offices both Of k1fIn. Leeb. 6. cCros
and j. r iEorgan & Co. and it 1 s prob-
able chat only the completion OF the
settlement giH reveal how much OF the
purchase Of stock made by the two par
ues Wltnln tne last week can Pc deliy-
The bargain hunters were also on
nanC iu Wall street today althoHeh
t1eli operations lell away as the re-
coNe lh prices progressec. During
Lle p2fnlnB however, - slarge number
~ trlusact tons were recordfd foi cash.
both ln STOCKS auC bOnGs, WhiCh is the
Udufer Eu switch the bargain hunter
usual y pays f0- his purchases.
There is "a belief in the street That
this panic was BIade UnEecessar ily vio-
lens by the excl5euient 5of sorie az the
newer members Of the stock exchanges.
many Ot WnOm are very young men.
~ IS supposed that so4ne of these made
uons ou THURSDAY. There was some
buying uaek of stocks from these
sources. ana aIso by those who got our
iu tine early ID the week and wanted
Chance for Calm Reelection.
Tomorrow Impending holiday ID was
felt. lIs7lred a Eeriod Tor calm reaee-
Nation sun further. There lvas ALSO
b souIe manipulation of prices Tor the
relief OF those whose BORROWING mad
been largely impaired ny the shrinNa ge
in collateral values. some OF this mau-
lpuIauon was also with The view of the
bouent of the London market. where
tiItrc rs periciical settlement ON Mou-
day which iS mulch dreaded bT the
English operators ln America owing
70 he heavy declines since the last set-
Sc 3D.
some Of the more notable Of the days
advances were. Union PaeifC t22, St
Pau, and LaolSiwanna. 1875 each, Com
solidated Gas Ie1 Burlington and a .al-
Esmated CoppEF, l-z lnteTn9 tonaI
Power. If1z baltimore & Ohio Ill: ST.
Lc7is Southwestern. preferred. f01z.
Sugar Delaware & HUDSON and Cen
erai EieCtric 10
This represents rapiG Tate. q recov-
,if1ursdag Which had already been
.s 20 ~ recovered in the Violent rebound
tiie r. tgadtDg on the exchange.
HaSe ftir- IS an obvious disposition TO
bail stiHs as a revival of che boom ou
The part OF some wore sargIine 81. the
Speculative buH cement Bat fter the
weeks experience Of this severe penal
ties of OYER s,3e-ulaton q renewal OF
the wounds caused by SUCH collapse
as That of Thursday are aotfo 5e healed
iu day is pat eut 'r.e condition of
The sgauks afIer gcsterday >. e1e1lss gger1y
-il1c-leures WiIl--sant 10 be gaugeSt .oe-
ims aSeHuate judgment can be passed
Net a Single Failure.
it IS a remarl1a bic Tact that the un-
precedented violence Of Thursdays up
SCI SHOULD have resulted ina not 81 sim
sc failure on the stock exchange
me commission houses generally
were aNcF5e TO accepting much new
business today About pne-fhfrd of be
commission houses would Only take
buying orders from customers who
could pay for them u fuIl and others
required sssed excessive margins as to
restrict trading greatig- -
syndiecfe that nare been actige in
afranEns Geals FOR the absorptidif Of
otheTeFaopeg- z reese interests seemed
to regard the deEel0pnleuts Vesberosly-
as The most favorable t1ing cart c0ald
have hpPpeueds f9T the eerryihg Guf 81
their plans ana accumulation of stocks
bv thefu was resumed on large scale
d0tiuE thsdaE This nuying was So
larse ff.te the gupldy Of stocks aeas
continoeesiy exhaested and fmany or