The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-12-02
STRONG SPOTS
IN THE MARKET
Prices Moved Upward at the
Opening Yesterday.
SHARP GAINS IN SPECIALS
CLOSE WAS WEAK AND AT Low
EST EBB.

New York, Dec. Prices moved up
ward in the opening dealings in stocks
today in fairly uniform manner. But
that was the last of uniformity in the
days market. There were many strong
spots and they were developed in rota-
ton, spreading the effect of the strength
through the session of the stock ex-
change but the general list did not be-
come animated at any time and the
days business was considerably con-
tracted from the recent average. Some
Of the most notable features of recent
advances were laggard or inclined to
sag on light offerings AS against the
sharp gains in special stocks there
were no well defined weak spots, but
only dizziness and heaviness.
There is still undated confidence
that the tranquility of the money mar
ket is not to be disturbed for the year
end requirements although it is COM
monty expected that rates will work
somewhat closer. SO long as money
rates remain easy there seems nothing
that can disturb speculative confidence
in the present market There was a
revival of confidence that the North
ern Securities decision was imminent,
but some uncertainty was professed
as TO what its character would be, so
that this served to induce some hest
tatiOn rather than to stimulate specu-
l9tion as has usually been the case.
The strength Of st. Paul was generally
attributed, however, TO hope OF an
early decision of the securities case.
The most notable advances were di-
vided between stocks of an extremely
higher class and those of little tried
and suspected issues. This apparent
anomoly is easier to understand when
it is considered that both classes of
stocks are likely 10 be not widely dis
tributed and In consequence easy to
move. The junior Vanderbilts were
conspicuous examples Of the class to-
day. A distinctly detected absorption
for investment of this group of stocks
is of greater sentimental effect on the
market for securities than almost any
other act that could be named in the
operations OF the market. For this
reason a copcerted advance in the
group is a favorite device of the mar
ket leaders to help along the rest of the
market by sympathy.
The rapid manner in which these
prices were advanced today was suf-
fcient TO mark the movement as sus-
been truly observed, not following the
manner of a bargain counter rush to
secure his holdings The rise in
Amalgamated Copper was based on
rumors of an intended increase in the
dividend on one of its subsidiary COM
panies. Railroad earnings reported
were generally favorable The conclu-
sion Of the London. 7settlement occas-
stoned a faVOra BILE infuence from that
source. The December settlements
here and the payments of $50, 600 900
installment on Southern Pacific stock
induced a firmer tone both for call and
time loans. But this was not an ef-
fective influence in the stock market
The reactionary tendency became fairly
general however, later In the day, and
the closing was weak and generally
below last nights level of prices.
Bonds were easier. Total sales, par
value, $7,S05, 900.
United States new Is coupon ad-
vsnced Il per cent on call.