The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-03-02
THE SHORTS ARE
MADE TO COVER
Rank Statement Drives Room
Traders to Acquire Stocks.
u,ggFTS SPRING FEVER
--7resrFss THE ORDER OF
TIE DAY-MANY ABSENT.
alaKETS SPRING FEVER


go. very HstIess and idle today and
.-5 5-.rfnfne interest even on the
NJ the professional traders. Many
60 have taken advantage of the
f,.z+-es- on the exchange to go
-.. for spring vacation trips, and the
&c from the street Of many Of
o. ssrJ,ars and railroad prOprietors
s-s usually concerned in large
- SHOWS the general acquiescenee
-E. uresen- state of things. The
- traders whose dealings make up
~ market devoted their attention 10
'.'1 --. srrartant stocks. which have
''C s7 Them for some time past
,,15.t Tho exception of "a rise Of "a IN
-.ri.ar cotton OIL said 10 be due
. 1-l.-..,r.rf. trade conditions. there was
3, ,'..,.,,arrart of sufficient importance
~ t-7rf.r- The room shorts covered
.r- urHrs-atiou Of the bank state
srr and impaired some siight
strength .0 the market.
Tr4 distinctive fea ture of the deal
..-. f- the stock market this week
,.+- taen The prominence Of the less
eminent stocks which are not inme-
liefeIv allied with the great railroad
.gs-em- and the iudustTialS of small
Qualification and which are affected
mic bv Individual causes and are not
d barometer If general conditions. IN
.srssf has shifted from one to another
- these during the week. Usually
.5.1a osfensibIl reason was advanced
I'm the buying of the particular stocks
Tserad but they were for the most
ssrt vague runoTs and there We're
often sudden relapses in prices when
minors failed of confirmation, and the
speculative pools responsible for the
,Tafements had taken their profits The
s-r-7 of these movements helped out
The apuaarauCe Of activity in the mar
LOT for much of the time, but they
we're i'm reality a symptom of the I'M
deriving neglect and Indifference of
rauitaI 10 the market As for the gen
eraI market as a whole, il has main
tanned fairly firm undeTtOne, nOtwith-
standing the tendency towards stag
nation That is TO say, holders are
not seeking to market stocks while the
demand is SO slight that sales could be
effected only al concessions in price.
This agrees with the widely held the
nry that very large volume of Securi- /
ties. representing the proceeds of con-
s0llGaJio1s. is i'm strong hands and
that the complete success of the con
SoNdatiOuS cannot be said to be as
sred until the securities find owner
ship wi h the investing public. Much
weight has been attached by Spacu-
lat0rs to the expected development of
plans for further consolidation as they
may ba affected by the Northern Sc
oIritias c0mp8ny's fate The proposed
sui against this company by the gov
eminent necessarily brings into QGes-
ton not only its own future. hut that
of many other projects designed on
the same lines. The settlement of the
governments suit Is recognized 10 be
matter of months and perhaps years,
and no one sUpposes that the stock
market viii lie Stagnant all that time.
There are factors of more immediate
application which promise uncertainty
ll the speculative sentiment. The
money outlook is by no means clear,
and The sumption of gold exports on
a large -cale is q compliCating factor.
IL is clear that the gold has gone out i'm
5Fmant of maturing or Obliga lions
broad and the growing demands on
lofeIgn credits indicates that further
'allS Wlll De- made by this cOuntry's
toTelgn creditors. The speculation in
AdiirS ln London has apparently cuI-
minated for the time. a1d the taking
UP NJ contracts ia these has required /
IeSoTt for loans TO the Bank of Eng
ana on an enormous scale. The week /
lF statement of the Bank of France
effects the same tendency there. The
apply of exchange bills i'm our market
Us very seanty, owing to the small out
"aLa movement of grain and cotton.
"l+ lne alternative for American debit
,s Is % ship gold. A considerable
Inward movement is expected during
me ,omIng month. The interior IS al
eall showing evidence of spring re-
UT th'ents for currency. With New
surplus reserves of modest di-
..'s"s.9nS. such a simultaneous demand
D -.I n'l1 directions IS likely to result
W. N'Ia entered circumstances for those
e.1j 'eH1-ni uINn call loans. as the ma
e. -t''N or SPECTATORS are. The period
W. 'Lsn uncertainties is also at hand
We Wednesday nf this week REPORTS of
''iIa-- to the winter wheat cr0n made
. fIt+lNFe instrument I'm the hands of
7''S DID ina stock market. The e.
-''s.I apprehension likewise that la
1- troubles may develop during the
vi. ,..-. especially I'm the coal fields.
',". street awaits some further Ugbt
'L lhese questions.
l., --r'e mas been good demand for
--....S. mostly for some Of the specu-
--,.'e issues. United States 3s regis
5..' and coupon advanced 70 and the
og IS Is per cent over the closing call
o. last week 1''iI
Bond Quotations.