The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-10-26
BARREN WEEK IN
STOCK CIRCLES
Volume Of Business Transacted
Was Very Light.
A FEELING OF UNEAslnEsS
POLITICAL OUTLOOK WAS ALSO
SERIOUSLY CONSIDERED.

NEW YORK. Oct 25.-The week IN
~ the stock market was barren OF
important developments. It's chief
feature being the light volume or bus
mess. partly due to the strength Of
foreign exchange. which caused
groandless fears Of early gold exports,
and absolute paueity OF public inter-
est and a vague feeling Of uneasiness
resulting from divers rumors of grow
ing unrest in the labor world. This
last was one OF the most disquieting
elements in the speculative situation,
although the political outlook also came
in for much serious consideration. The
solid interests. while apparently ex-
erc1sing 70 repressive measures
seemed determined to check any con-
certed move for higher prices, and ac-
tivity was shown only by a few COM
paratively unimportant issues in
which certain pools were believed 10
be chiefly interested. Unsuccessful eff
forts were made 10 create a demand
for some of the minor ''reorganized"
industrials early in the week.
In this connection. it is not amiss
10 state that the greatest and most
powerful of the industrial concerns has
intimated that IL might be necessary
before long TO engage In a rate war
with some OF its Independent rivals.
Adverting to the weeks movements in
the special class, IL was the general
opinion that only In the case OF one
stock was the buying genuine or tech
nically good" The coalers held mod
erately firm, but the impairment SUI
fered by the anthracite roads. together
with the knowledge that only a long
period of uninterrupted operations and
higher prices fer them can make that
group of stocks less attractive than
usual.
London was a seller 10 this market
all through the week. and il is re-
garded as very significant that such
thing as investment buying for Lon
don and other European accounts in
any volume has been unknown for
some weeks. From all accounts, this
country's debt Is far too heavy 10 be
offset by our exports of breadstuffs
and commodities. and IL Is freely pre-
dicted that an indefinite extension OF
time will have 10 be granted for the
adjustment of our obligations. That
some such extensions were made this
week is well known In exchange cir
cles.
Locally the financial situation pre-
sents no really unfsvorable aspects.
The rate for demand money ruled easy.
and time rates relaxed somewhat. but
borrowers found 1t difficult to negoti-
ate loans on reasonable terms for less
than six months. The drain on the
local banks has been heavier than re-
ports would indicate. a considerable
! amount OF money going to the interior
by express. On the other hand, the
suh-treasury paid out large sums
against Klondike and Australian gold
deposited at San Francisco, and dis
bursed about $40. 00o. 900 for bonds. this
series of transactions being clearly re-
fiected in the bank statement. The
latest treasury statement shows an in
crease OF almost $l2.000. 600 OF receipts
over expeditures.
There was much gossip dealing with
various phases OF the railroad siJua-
ton. Some Of these he'd 10 do with
the ST. Paul road aud ii is doubtless
true that the system has enhanced its
prestige recently. Nothing influential
has been heard respecting the issue OF
SIS. 900. 600 extra stock authorized by the
roads stockholders. Reports that the
Norfolk & Western dividend is TO be
Increased from 10 per cent were
accepted with some reservation.
Railroad bonds were considerably less
active and showed decided irregularity
throughout.
raor5 N,zoAz%fc,,s