The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-03-16
SHIFT LOANS
TO FOREIGNERS
More Commercial Paper Re-
osvsd Than Paid Yesterday.
o0FLD OF BANK STATEMENT
rrcsPPEARs. ON PUBLICATION
suowrrG FAIR CONDITION.
nassD OF BANK STATEMENT

--. March rs.-There was very
~" ..- shown iu trade 10
jill. ..4.. owing tc the complicated
~ the market. During tne
7.--. there nls latent dread tnat
-r- statement ouId reveal the
i-l --.r--r of the surplus entirely
la. .-- Tra-. was no urgent pres
.. -.H ra. prices saggeu. except
guy. .. -.4.faf stocks. After the pup
-.-.f.r of the bank statement tHEts
. recovery .u prices bul the "1
-r ... U-r.ass and unim9oI Idlll'
.r. ..arEar closed 1ut ana ON!
..-- steady O.. some CONCESSIONS from
Gam. There has been 40 evidence
,r. --a.E market of HlllddloH 10
..rfr- ike rue extent OF the +0at
-- -r..r..r reported Iu the statement
,--.. -- rr..aa-. I.y due TO the IdtL tidt
~. ...r obligations have Hreu suil1euf
-a..n paid. 10 is known tnaL part
90 ,r.r have been shifted J1 foreign
.-. +rrag-r the exchange mdIhrt' dli-
Oh. ..#...E chat the trust companies
-.-. F.ar large lenders, drawing on
,-.t- f.r.-..s with the banks Tor Nn5
-.....-. TH. small disturbance cause"
H. .ra money market by this extensive
..-ff-fre .. loans encourages tlle A'p-
ftsr future raluITemenis N'h pc me-
,-#rr similar ra-e- 10 IS tAi'5'-5L .-'l-
aha. rrt government bona It2eHi = Ii'''-
yesterday and today VIA an DC leilv. yea
5- next weeks bank statement -.--l- -.
ue deposits Tor transfer q" 9'-l - -
cisco which are aHpioN tilialg's nan M, NJ
amount H. ra- bond itlt-Hi't'p-l7- l--
fr-.fr.Il rlWpeu.r-r tAr local sa9 I'm
rsrI-s. Rock Island ana AliSSouIi
-.f. were notably strong lh JH- ua|
rsrkr. while some recent iaN'I -1-a
were under pressure OF fed.thlh5 Sa''9-
The character of ine dlhrl HaS
NAMED much Tua same thlS "r1A d. l9L
~ana time past The great mas y'
-.e-rit.eS comprised lH -ne great ran
road systems Ji the country nave sdih
inert iu contrast with their 'ohspIcU-
all. leadership of the market IN ullef
ar genuine speculative activity Inc
important inIuSrrlals have not neeh 50
rarab.y neglected. These securities are
Influenced by causes nliNl4ual 20
themselves and lo the traces WIN
which they are gonleihel anu less u5
general nnna'aduS OH Ii'dil'lAl v' lil
5gs.ial character IMAM are me slo'AS
of representative railroads lhry are
likely. therefore, 20 be rrsorled 70 Tor l.
speculative medium in times OF guinness
aud apathy by the speculative punHS
BU the feature of the week $ market
o. Cor some Hm' past. mas ureh lu-
F.a-HuI.a movements ana S9lItS Oh
activity Il many obscure SOCKS Wnlth
afg seldom traded in on the STOCK rN-
change Most of these movements nave
only vague or conflicting explanations.
and tha sudden activity IS likely 40 o.
followed hy as sudden neglect ana
with Jdcu and wide Iela2seS ln
prices. These phenomena are the clear
evidences OF the arilhelal ana mahlpu-
hllv- character of the movements.
Speculative pools are formed ana an
a..uuulati1n made of the stock picked
Cor The movement. This buying IN IT.
sa.. raises .re price 4 rising price Is
The sure attraction for others to buy,
executing the law OF human desires.
The accumulation by the pool mas ne
eGcal ODE boating supply OF the stock
market and thus facilitated The Did
ding of prices asaInst the newly de-
ye.9ped outside demand The pool Is
'seu thrown upon its best resources OF
skill and manipulation 90 feed this new
demand with sufficient moderation, and
Keep the price sustained at a point to
Yield &c profit. After that the stock
may fan back into new period Of
oblivion This has been the history o.
many of I've recent movements i'm the
stock market The seas0nahle duilneSs
ir The general speculation is due 20 Oh
f1GS uauseS. ana the general acuuies-
Denye u 10 is illustrated by the large
number of absences from Wall street
am9ugs. the figures that are influential
SD affairs there This is So marked as
90 make 30 difficult 90 secure uu1rums
luI l.I''Ioi0 meetings, more than one
of which has. therefore. been post
E.ne1.
The pending litigation against the
Northern Securities company is To De
constantly borne I'm mind in under
standing The present stock market. The
o-."'l--''E attitude oil the Interstate
'.N.n...a commission towards the rail
..aAS as d result or recent lnVestga-
...1 'l -le commission and admissions
.k .A- 'Hly-Is 'i railroads has been a
a.s,afnNs influence. The dissolution of
several organisations has led TO some
,-- oa..e. ana nominal changes In
-..-Nt .'I9S. ths Is an unfaliins
-.1s %. oHea7laess TO holders or rail-
I'd. ..i7-r ih S-l'' OF lne great
.7sS -- the recent past towards
. interest among railroad
..-'- --.r usual elements OF u"uoi
....'. 90" l1' part @. SpeSula-
.- ,...s season. also nave neeh ln
..i.s qua hat SITUATION is
-L ''. Oh lhtse elem I'd Is
nils. t Nt..-.- .lah expansion mas
~-..s D.. N. z ..- ,'.e -e--IN Vt re-