The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-02-19
Review of the Week.


The occasional strength shown by
stocks this week has been most marked
in special stocks, and has been mixed
with reactions at times, and with
steady realizing in some stocks at all
times. The realizing was in stocks that
have enjoyed wide advances in the pre-
Vious> trading and the selling represent
ed successful progress of the specula-
ton in the stage OF. proft-taking- The
strength in individual cases, while it
did not carry the whole market with
il, was efiieaeious in supporting prices.
The result has been an appearance of
strength in the whole market The
volume of the trading has fallen off to
some extent and the speculative spirit
has been somewhat restrained. Indus
trials, and especially those of a lower
grade, and which are subject to long
dormant periods in the trading, have
been conspicuous in the weeks trading.
and have moved without apublic knOWl-
edge of developments to account for
their action in most cases. Rumors of
proposed dividend declarations on
stocks which at present receive no dis
bursementS have played a prominent
part in the speculative influence. Low
priced railroad stocks which receive no
dividends have shared in the move
ment, while the higher-priced stocks.
which were long active and strong,
were held at narrow fluctuations
Union Pacific was q prominent eX-
ception-an exception which was of no
table effect in keeping the tone of the
whole list. The driving in of a short
interest was an influence on the price
and was a factor in the failure of
stock exchange house. But rumors of
the benefits to accrue to the company
after the distribution of Northern Sc
curitieS assets continued to play a
potent part The ample resources Of
fered in the money market supplied the
means for operating on easy terms and
the cessation of the foreign demand for
our gold was the immediate develop
ment of most influence on money The
favoring influences from abroad have
included the peace rumOrs, which have
been current in every capital of the
Old World, and which have been re-
fiectetd in a movement of government
securities more impressive than any
since the outbreak of war between
Russia and Japan.
Rate Bill Cuts a Figure.
Wall street has given a share of it's
attention TO affairs at Washington and
has been inclined to interpret events
there in their possible bearing on the
prospects for railroad legislation. Thus
the friction between the president and
the senate has been considered as a
possible obstacle to the passage of
railroad rate legislation and has had
some effect on the demand for stocks
in that view Shifting views of the
outlook of this question and the inves-
tigation by the department of COM
merce of the Standard Oil company,
which has been ordered. We're minor
influences during the week. The serious
proportions reached by the war of rates
for export grain traffic as between Gulf
and Atlantic ports terminals has dis
turbed sentiment and it's effects are
expected TO be lowered further in the
showing Of railroad earnings. The dis
put over the control of the Equitable
Life Assurance society has been fol-
lowed with wide interest throughout
the financial world. The patching up
of the difficulty is regarded with relief.
The tone of bonds has been firm.
United States new As advanced y per
cent on call on the week