The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-03-20
No Further Prosecutions.

The speculative element was given d
broad interpre tation TO the official in
timations on behalf Of the administration
mat lhere was no intention TO run
amuck with the powers in their hands.
1t IS the common assumption in wall
street that this means that no further
proceedings are to be entertained for the
present against other presumed offenders
against the statute. The same element
sees in the opinion OF Justice Brewer OF
the majority OF the court a likelihood tn II
IN case against a combination in which
"reasonablenesS" Of it's potential restraint
Of Interstate or International commerce
might be urged. the complexion of the
courts decision might be altered. Talk of
legislative amendments to the statute to
the same end had also been dwelt upon.
In the reVulsiOn Of sentiment thus pro-
Of interest in some OF the community of
Interstate products supposed 10 have
of the Northern Securities prosecution
fell upon them. It cannot be said that
this represents the prevailing sentiment
in the larger financial world The magic
of the policy of combination has lost its
former potency, and the principal inter
ests attaching to the dissolution of the
Northern Securities lies in the possible
embarraSSmentS OF accounting in the r.
turn OF the securities held 10 the former
owners. Any possible harm 20 the trans
continental railroad situation or any re-
opening of the fierce contest which the
Northern Securities formation was de-
signed to settle finds no place in public
comment. An influence upon the week 5
market which has had small. recognition
Is the recovery in foreign markets which
has occurred. This is supposed also to be
due in no small part TO the covering of
short contracts But its feeling among
spectators that the possible harm TO re-
suit from the war in Asia and its dam
ger Of complications have been adequately
provided against by operations in the Sc
CUrities market.
OF domestic factors. large Importance
has been attached to the hopeful pub
on his return from an extensive tour of
the wide territory covered by the COM
pick railroad system under his direction
Railroad traffic officials as a body have
modified their formed discOura ging views
of the outlook for new business and have
adopted a more hopeful tone. The adj
vance in the prices of various lines of
dence OF the revival in that industry, and
OF its turn from a descending course. The
breaking of the drouth in the southwest
relieves a cause of anxiety which was
gaining cuiminative force in speculative
circles and the sharp reaction in the grain
and cotton markets gives hope of a re-
neWal OF foreign purchases. The Febru-
airy foreign trade statement revealed how
far the decline In this demand had gone
and how important a bearing ii was hav-
ing on the balance of trade. The APP
proach OF the period for the Panama
canal payment increases the importance
OF this factor in the exchange market.
The bond market has improved with
stocks and advancing bids have been re-
corded for. some of the high grade IN
vestment bonds
United States new Is have advanced
=. do registered IS and old IS Il. and the
Is - per cent on call since last week