The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-11
STOCK MARKET
AGAIN ACTIVE
Equitable Cloud Has Been Lifted
From Wall Street.
GOOD ADVANCE IN PRICES
REVIEW OF OPERATIONS OF THE
PAST WEEK.

II VIEW W OFEHN iOtNO VI 1T z
PAST WEEK.
New York, June 1O.-The sudden life
infused in the stock market today
justified the opinion Of those who have
complained that much of the repres-
sion in activity has been due to the
open dispute over the affairs of the
Equitable Life Assurance society. The
steps achieved at yesterdays meeting
towards effecting "a settlement of the
affairs of the society were accepted as
promise that the violent phases at
least of the trouble have passed and
that the uneasy attention which has
Deen attracted throughout the financial
world VIII now lose its absorption and
Its effect on sentiment. The encourage
inent felt was substantially manifested
IN the large buying orders at the open
ing or the market. Large blocks of i'm
pOrJant stocks were taken at d sub
stantiaI advance in price over last
night. There was some prOht-takinE.
out the advance was strongly resumed
after the appearance of the bank state
ment- The large loan contraction was
attributed to the preparation for the
redistribution Of the japanese loan
deposits. Operators were inclined also
10 anticipate a favoraUre government
crop report to be given out later in the
DAY and which might help the market
on Monday. The market closed strong
ana active, with prices up from 1 to
over points ON the day.
Inc bond market was firm in sym
PATTY Total sales. of bonds par
value s. $4,000
Review Of the Week.
Prices of stocks have lost no gorund
curing the week, but the market has
been ltfeless and Of only negative
significance as reflection of prevail
ing uncertainty over the future coudf-
tlohS aHectlug values. The usual
operations by professional room trad
erS which are relied upon to keen I'm
business in periods while large o1er4-
uohs OF banking interests and general
speculation are suspended have bae4
curtalled by the stock transfer tax
Proceedings nave been commenced fo
test the validity of the new law and
pending the decision are disposed tol
refrain from operations. The barren
ness of TIE actual market is thus fully
disclosed Business also is confined To- a
rev prominent stocks for which the
market is the broadcast. A large nro-
portion of each days meaCre business
- mus round TN a half dozen or less Of
- A'cl'AliA6 pee UidIlER fTTuTfraE s.
temps 10 market any less active sto~L,
ma no bid IN the market ana a ,.o7,
CeSSlon OF many points i'm the Df-ica *
round necessary TO effect the sale The
market Is almost equally narrow ms,
the selling side, so that wide advar7c.-
are recorded from time to time ON ,tr
o[uer TO buy small amounts OF stocks
Nh'eh are sometimes active i'm the
market but are at present i'm the fisf
o. dormant securities
Low Price for Seat.
a sale Of seat on the stock ax-
Sli9.5Se Ior $4,000 as against a price
- SoI'Oce a month ago and a high rec
Oiu OF SH4Ovo within the wear is re-
ported as q result of these conditions
discussion Of the market about tbe
STOCK exchange is confined to toDics Of
teCnilcal character such as the sr4,,,,l,-
"a AoiuliiSS IN commission houses which
tI. SiDit contingencies may bring upon
the market for sale. or the extern tn
Whlch short interest in the market
may nave built up IN this or that srocl-
ana De made vulnerable IN enforced
DuNlhg by any bold bidding up of the
marker prices The small dealings
from day to day are based almost
MhoIIy on such considerations and the
sIilait fluctuations which result are
CONSTANT ana irregular As to the deem
CT seated conditions which are resn0n-
SlDIe Tor the neglect of the market
various opinions are held. The out
come of the coUntry's crop is a DriTna
consideration The conditions d7,riT,-
the week are considered TO have i'm
! proved in this respect Favor he
weather reports have been received
from the gram and cotton regions The
harvest of winter wheat I'm the south
erH portions of the belt has begun and
warmer weather has fevored tbe d.
layed corn and spring wheat crov,s
Whlle progress Is making in the cuItfz-s
ton of the cotton crop. The weather
bureaus weekly bulletin WAS deffufre-
y reassurlng regarding all the great
staple crops The more detailed esti-
mates OF the monthly report of the
agricultural department were waited
with more interest. But the critical
period Of the making Of the definite
crop is regarded as several weeks I'm
the future and there IS growing i'm
preston mat until that is passed no
important general activity is 10 be
looked for i'm the stock market. VITAL
interest IS attached also to the dpffnfrn
future course Of the iron and steel
trade.
Market Desdlocked.
The market for pig iron apparently
continues in a state of deadlock ami
sOftness in the market for various lira-
Of finished products is pronounced to
exist by the recognized organ of Tho
trade \ revival Of strength for oUa
day in the United States Steel shares
was a marked sympathetic effect on -Ee
whole list Of securities and demon
strated the Importance attached To This
subject as an influence on the whole
speculative outlook Their slIbseuuert
heaViness was OF equal effect a su-.-
Elementary influence was the move
ment of Amalgamated Copper. The
publication Of a condensed balance
sheet and a financial report bv the
company was favOrably commences mn
on as a step in a desirable 73oIf-,- of
publicity. But the report itself came
in for a share of criticism and fEa
stock suffered from profit-taIing ye--
favorable conditions were reported in !
the copper trade Itself.
There is no mistaking the reuressive
effect on the market of the EQUITABLE
Life affairs. and some solution of the
vexed problems involved i'm the stock
market The Initiation Of measures BY /
the Washington government for hiring
ing about peace negotiations has baeu
followed with languid interest in the
New York market and such effect rs
has been produced has been reflected
from foreign markets. where the mat
ter is Of greater influence Actual
transactions here for foreign account
have been insignificant An exception /
must be made Of the japanese bonds.
the peace PROSPECTS
United States bonds were all uD-
changed on call on the week.