The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-11-17
BUSINESS AND
FINANCIAL NEWS
Advance on Wall Street Inter-
rupted by Realizing.
BUYING IN FEW STOCKS ONLY
IMPROVEMENT IN DOMESTIC
OUTLOOK FOR MONEY.

1oiioWlnS yesterdays recovery from
thursdays realizing movement. but
the advance was interrupted by real
ling again here and there. and the
buying was cOngested in few stocks.
There was large and concentrated buy
ing of the Readings. accompanied by
fumors that the company is soon to
benent by an increased dividend on its
holdings of New Jersey Central stock.
There was sympathetic strength in
other coaiers, including some of the
| soft coal carriers. American IocomO-
tive stocks were in notable demand on
reports Of large orders from all parts
Of the country
Inc transcOntinental railway stocks
/ moved irregularly under realizing from
Tune to time and there was a sharp set
back for the local fractions. Sugar
| Amalgamated Copper and Peoples Gas.
which unsettled the late dealings and
made the closing Irregular.
Much stress was laid by bullish trad
ers on rumors that an offer of a large
Diock Of government bonds is pending.
/ 1t was also rumOred that the secretary
! Of the treasury was about to raise the
Do price for government bonds. No
| substantial basis. it is believed. has
| Deen discovered for either rumor.
| The gain on cash reserves by the
! banks, in spite of the large gold ex-
/ ports, was more material ground for
| confidence over the money outlook.
Inc announcements before the close
| OF an engagement of $500 900 for export
next Tuesday by a Boston banking
mouse upset a hope that the gold ex-
port movement might be checked ow-
ing TO the easier tone Of money and
the rise in sterling exchange at con-
tinental points.
The details Of the plan Of settlement
Oh the disputed questions Of control in
the northwestern railway world have
been eagerly anticipated for several
weeks past, and this settlement has
oeen stimulating cause OF the onward
course Of prices of stocks during all
. tndI period Yet when the announce
hent OF the plan was made this week.
prices OF securities promptly turned
downward and developed quite act1ta
weakness. This does not necessariI,-
mean that the previous buving of
stocks was on false premises. Specu-
Iatlon naturally does not wait upon
an event but anticipates it as early as
possible.
The recent course Of prices shows
mat the terms Of the settlement Of the
Northern Pacific quarrel were orita ar
sentiaI details they had been published
IN consequence, the actual announce
ment attracted very few BUYERS oe
STOCKS because the buying had been
uOhe already. Such part of the buying
IS had been done with the desire of
selilng again at an advance made large
offerings for sale on Thursday with (
resulting break in prices.
yet the Northern Pacific settlement
is viewed with profound satisfaction
throughout the financial world. both
.eIe ana abroad. It is regarded as a /
S ueIiIIte solution Of problems that have /
ueeH menace to the stability Of val /
ues. OF northwestern railway securities 1
Tor several years past. So far as the
pubic Is yet informed only the rail
roads immediate parties to the settle /
ILIeht We're considered. Except as the
general situation is bettered. no sDa-
ClaI provisions have been made known
isOn. anu <A'ch-
AS for the relative advantages of the
railways which were parties TO the set
IleIhenI, the settlement accords tn
= mon racine an equal control of Bur
Iihgton by representation on the direc-
tOfy winch was its original contention
anu III 9ddllon substantial voice in
1ne aHalrs OF Northern Pacific and
Gfeat Northern by its holdings in The
new Northern Securities comnanv in
exchange for such holdings of North
ern Pacific common which was NOT
VI gIhally cOntended for at all
ne redemption at part Of Northern
I acme preferred is not understood tn
le-u substantial profit to Union pa
enc as it large holdings of Northern
acme preferred We're ACQUIRED a.
corning to common UNDERSTANDING AZ
DeloW par. The growing construction
VI the money supply in the market had
very HttIe influence on speculation nre-
' IOus 10 the realizing upon the North
~. ~. racine settlement but emphasized
~. ne uIsPosition 10 sell after the reac-
tioh set IN, as bankers were ca1Iins
loans and rates advanced.
So far as the domestic outlook is con
'erhed money conditions have i'm
proved. the receipts Of currency froD,
ne interior tending TO increase and
me payments by the sub-treasurv ~, ( :
7Ccouht OF government bond redemn- !
-lonS ana on account Of gold deposited !
- acme coast points more than off,
setting the requirements Of the eo1-- q
4rhment surplus. But the outward T,
movement of gold to Euroue hos :
proved so large as to awaken anxiety :
y u now Wen understood that the gold I
: ports are an index Of the unsuspect- :
u eAteht 10 which foreign capital was
borrowed IN the pursuit of the nroieofs I
which stimulated the great snecuIstion :
# last spring
me government returns of foroi.,,, >
fade' showing decrease in the hsI- !
'.iCe OF trade in our favor for October
u @zo'95VU45, explains why the sunniv
y commercial exchange has not been 7
uAiciehJ 70 meet maturing reouire- ,
heills- french capital has been LARGE :
loaned, not only here. but in ~ :
ION alSo' the amount placed in London ;
J, - one time running as high as S400 +
oO,VVo' according to the estimate of the
london Statist. 'iie
me market for railroad bonds has :
.n tlI broad and active this week .
I advancing prices for the most mart :
Inited States old As advanced u - :
ne closing of last week.
Bond Quotations. +,
Q. s. ref. Is rec. 100 Hook Val A. 10 Ii
Do coupon ...l09 J.. q n II 165a, .
u 5. IS reg. Jos Mex. Cent is iSS5,s
- : g coup io6A LIST inc -. S0sz
2 \ n q Is o Fsg,, lss n & St I. IS l55 q
7. $. o. Is reg .1123s NJ. IL 81 r y S9l9 b
/ 5. .. IS coup -1i29s n. Y c. is fa57s 2
7. ). IS reg..-...le7 General 8lSs 19SlS -
- % Co"l ~ ~ y. > g sen. IS 1917 D
Atcn gen; as. loS Nor. Pae. 1861 :,
B Q. 4s.-.-..103% n. & W. con 4. 76 80 a
:, & o. Sis. ssA Read. gen Is soi
Cow Is lies ST T. e - 70 ~ 9Sss
AN. 50. 2s..... 1881 consoI Es O4i W r,.,, q
:, OF g 7s.--...le6 ST. T. f. Z. As 9SiL u
Isl nc .--...-.- q St J.. s. w Is S5iL ..
= g ~ 41Ss .....l0IA St L s. w p S9if
: 3 a. U.s.. S. San Ant & Ara. N
=, ~. g. st. p So. Pac ts 1900 80, 90 8
general IS -lllh So. Rv. 5s.... 128s5 d
, q y W con- Tex. & Pac. Is. 190is
sol IS ':...... .l3Sl2 Toll st. L &
= x x L. s.los% W IS ............1e2 SO