The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-16
NEWS OF EASTERN
STOCK MARKETS
St. Paul the Influencing Factor
on Wall Street.
CONDITION. OF BANKS
WEEKLY STATEMENT SHOWS &
HEAVY LOAN INCREASE.

erisn undertone in tOdays stock mar
zet but the bu0yance CI -. Paul was
determ-nlng factor I'D sustaining prices
and IN turning them upward dIIef JhS
dsp .OcCasiOncd by the weak bank state
meat. Authoritative announcement re-
gardng the developments an -. Fau4
continue lacking, but the belle: holds
IL Wall street that "a cOnlFOtHng ~
terest in that stock has been made
available for the purpose OF a NOrUn-
5 western railroad dispute which is be-
ing worked out It Is a matter OF noto-
r5ty t4l1t when EFFORTS were MADE 10
secure 81. Paul previous 60 the Bur
lngton deal, The figure demanded Tor
the stock by controlling interests was
200. limitations have been given that
minority St1ckhOiders VIII De gwen
cQual benefit in any terms of sale OF
the controlling Interests. Assumptions
from these premises were rne occasion
Of tOday's dealings in stocks On when
conspicuous leaders, however bore q
large part St. Paul crossed Isl I'm the
late dealings, compared with 1t4A last
night.
Colorado Fuel added six points to its
Eensa tiOuat advance Inc general mar
lzet was Influenced by st. Paul. The
heavy loan Increase disclosed by the
bank statement reflects continued de-
maud for syndicate purposes. Inc de-
crease in cash of $l,5VJ,0uO IS part OF the
known movements or money which in
dicated a small gain. Part OF the gold
Withdrawn from the sub-treaSury yes
to-day went to Holland tOoay. 1T is
believed that more may go next week,
to meet Berlin-s requirements for the
semi-annual settlements on July !.
There was q decline in speculative
activity ard some liquidation duri1g
the early part of this week, caused By
the showing made by last Saturday
bank statement But interest revived
again as the week progressed, although
the volume Of dealings did not rise 10
last week s. level. Many important gen
an a
ground for expecting Improvement But
the speculation seemed to be based for
the most part on special considerations,
and was largely congested in special
stocks.
The substantial gains in the list kept
the undeTtOne of the market pretty
firm, and seemed TO support prices
against considerable realizing. which
was i'm evidence from time TO time The
Gould group of stocks were conspicuous
features during the Week. Relief was
confident early in the week that early
announcement would be made Of steps
4 accomplished towards the expected con
sOlldatiOn which Wall street has deslg-
mated the greater Missouri Pacific. Inc
announcement that the Missouri Pa
CifiC directors would CONSIDER other
than routine matters at a meeting next
Monday and the news that holdings OF
S12.O 600 600 of Missouri Pacific convert
ibles paying per cent had che opIioa
exercised of exchange into stock, TOS-
merits Some warning intimauOnS were
heard later against a TOO confident as
sumption Of early action towards con-
soltdation. and confidence was some
what mod led and directed towards
dividend actions on Missouri Faclhc IL
SET.
some ruu-ors that the Pennsylvania
Railroad company has secured the
Pennsylvania steel company TO control
its rail supply are credited IN w ar
street. These TumOrs attracted a large
number OF buyers of pennsylvania
stock This was taken advantage OF
TO make the large amounts 81 STOCK
against the buying ot stochholdeIs
rights to subscribe for the new issue
of $50 GOO. 600 par value.
some very large dealings in the Pa
Ciics and Northwestern railroads at
trfbuted TO insiders were supposed 10
be due TO the working out of the COM
nrehensive plan Of adjustment or
GAINS assuring permanent harmony
which was explicitly promised IN the
official statement announced LhaL IN
agreement had been reached in the
Northern Pacific dispute. AS Northern
Pacific stock has practically dlsap-
peared from the market since the cor
ner and dealings IN Burlington are
nominal. while the seating supply Of
Chicago & Northwestern and Great
Northern is small, stocks of other com
panies interested have been looked 70
as an index OF proceedings
Ths notable strength Of Union Pa
cffc and of St paul has led To con-
cT-isfons that an Interchange of secur-
titles of some sort between the two was
contemplated RumOrs have been
plentiful in Wall street that the en-
Iareemeut or consolidation OF some Of
the independent steel companies would
ne made preliminary to their ABSORB
ton by the United States steel corpor-
The statement Of our May exports OF
domestic products indicates contln-
nance Of the extraordinary conditions
OF our foreign trade. the increase m
value over those OF May Of last year
beiug more than S11, 100000 exclusive OF
manufactured products. The continued
growth of the Country's wealth thus
Indicated helps to prevent any appre'
hension from the effects Upon ln'
money market OF temporary demands
Tor credits for large corporate trans
actions.
There has been a good general de.
mand for railroad bonds and some o.
the convertible and contingent inter
est issues have been active and strong
United States bonds closed unchanged
on the last call.
Bond Quotations.
n. $. ref. Is reg 1904 y. Y Cent is l0l E
DO coup .iQlA N. j g. gen. 7s. 10 Z
x s. g. reg..-.-1UJ Nor Pac. Is .--. ~
DO COUP. .. ..1U3 Do 4s.- 80 10 2
L.. s. ID. As reg -l3' n; y. G. d 81 o-
r. 8 =. A. reg. lI1ls ore. Nav. Us LOO
no COM .1l3ls. DO Is. -lJ5i
81. s. s. .l0Sst o. s. J.. 6s ..... III I.
10 corp - .IUsat o. S J.. con. 5s.19
Dis Col. f5s--l-3 ste7c-ng gen IS. ~
Atch. gen. As ---lU4is y. q. W ls 80. lU5
Atch. adj. As .-- - 81 l.. g l. a.
can So. Is g.. liOlz con- 7s T.. .li4
Cbcs. q %. 4ias..t.ole st. l. * =. F.
Clles. q. ohio 5s-iZJ gen. us Loo.
f-7f 81 r. W. st. Paul con. ..lS4
ronsoi 6 90 1925. ST. f.. q. & +. isis
Chf d n. w $ DO 9s-- .-...-ll5
RI dob SIS Ig2 So Pac. As 95t
f-bi TERM. As - gsIz So. Railway 5s..L9
|. f,oIo 81 Is Sgis ST. h. q n. IS b.. IS
ID. & II. O. IS 3tl IeN. q rae IS .-i'555
Erie sen. As .---- sots DO -a-.-- ----- ~
b M ~ ID G IsIe52t Union PaC. Is 100
CEN Flee IS ...1S51z wa )asn is 90. llta
Iowa Cent. Is lib 10 Is .---l-lt
\ Il ~ uni Is..1035z West shore As .-114.
III X a. r. 2s Sos Wis Cent. is sl5
10 fs . BE- g9Jz va. Cent IS.
Stock Quotations.
A+chison S77s SO. Pacific o.. o.. 607
Preferred 81. ..104f1 50. Railway 81.
Tsaft a. Ohio ....l104 Preferred 49,. o.
Preferred . o.. S. Texas s. Pacific. 4ls
tsars. Pacific -..-1ef4 Toll st. l. a. ". ~
60 So. b.. .. o.. % Preferred 80
Cfes a. Ohio DOL. d97. Union Pacific ia
CHI 4 Alton DO. 464 Preferred 81
pTeferred b.. b.. <f Wabash go ~
chill D. a. Q-..-.l96iz Preferred 81
chi Ind e. DO. 80 ". s. IT, E..-. 81. 2li
Preferred 20 o.. 1872 Second pfd-- q
r-Nf Wis