The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-12-24
SOME STRENGTH
IN The MARKET
Operations, of Course, Being Limited
Owing to the Holidays.
ANACONDA ROSE q POINTS
LITTLE INTEREST IN THE BANK
STATEMENT.

New York. Dec. Corporations in the
stock market were naturally crcum-
scribed by the approaching Holidays ana
the suspension of business on the lead
ing European exchanges. There was,
hos ever, q moderate degree of activity
with considerable strength in a timber
OF the better known ISSUES Interest con-
unreo to reVoiNe largely aroJni the To-
cal transportation stocks and the new
deal, concerning which there vas sun
an ahSence of Official informa lo1 There
WIS IL1Ich Speculation as - tho tabifiiy
.. Tie per cent suaranSee dividend on
AetroDolilan Street Railway. which las
tack
METROPOLITAN shares moved irreeularly
ana Metropolitan Securities we're distinct
~ heavy. Third Avenue one Of Metro
pOlitan's leading lines was very strong
presumably on the assumption that the
new deal would strengthen its position.
In the railway let Union Pacific. 81.
Paul, Atchison, Pittsburg. G. G. & St l..
and the MINNEAPOLIS 81 Paul and s.
Ste. Marie were the PRINCIPAL features on
strength. The United States Steel is
sues We're strong and active the common
advancing 20 q new high level on the
present movement. Anaeon3a Ccpner
also was ii active demard NJ a nigh rec
ord price. American Smelling was active
and strong.
The bank statement aroused little in
terest. but prOfit-tali'ns gave 'he list a
TEMPORARY set-back from which il only
partially recovered
The feature OF the late trading was
Anaconda ConpeT. which. on sTiBi0rs OF
another rich find" in the CONN nv S
mines, advanced to 2,i6 ard closed az > ii,
a net gain of over - points.
Anaconda is a quarter or S25 stock.
however. 50 it's gain IN noints represents
oniv one-fourth that amount IN dollars
Anaconda is practically. controlled by
Arnalgan,ated Conner interests ard that
is~ue was naturally strong in svm0athv,
There were feVerish fluctuations In the
general list toward the end, but the clos
ing. though irregular. was in the main
strong.
Totai sales of bonds. par value g.
$500
Review of the Week.
The vitality of the SPECULATION has
demonstrated itself again this week
AGAINST obstacles that have been suffi-
Client to prove disastrous in time Of mast
great speculative movements. BANKING
insolVencies at TFi-aro Involving Habili-
ties OF some s26.01.000. confronted the
stock market unoH its resumUtion OF
business last %6ndav. The surprise 81
this news was cOmnlete. as no nremopi-
ton had been heard Of the trouble. The
verv fact of the secret having been 50
well kent, although known to a circle OF
councillors CONVEYED an unHleasant i'm
preston. The shock 10 sentiment causeC
by tire Chicago news. therefore, was ViO-
7 lent. 1t came also anon a somewhat over
. extended speculative situation which mac
already had SOME effect at the end Of
the week.
Nobody was much surprised. therefore
to see a miniature manic in some stocks
during a haw hour after the market
onened on Mopdav. The effect had beer
exhausted practically BY that time anC
MONDAYS closing prlceS showed few sub
Ftantial losses from those Of Saturday
The small harm dore to the stock mar.
ket BY the Chicago failures is nartly ex
planned, OF course, nv the PROMPT anC
effective measures taken by the Chicago
clearing house banks to insure deDositorS
OF the affected institutions against lass
The trouble was recOepiZed as being due
TO neglect OF the banking laws. and tn,
fact is dwelt on that banking embarrass
ments have been reduced to an inSignifi
cant amount except where violations o.
law or OF trust are involved. esnecfally
iD the ABSORPTION Of resources for the
benefit Of Dricate enterprises of those
IN control of the hanks. Time has beet
! IN Wall street when n case of this kiHC
would be seized upon as Offering a nos
sibe symptom OF 4 condition extendius
beyond the particular case But il wa:
brushed aside this week as If compare
tive unimDOrtance. The movement intl
which the subsequent market settled
down had its nofnts OF irreguIarity auC
the whole. inconsistent with the Christ
mas spiTit which is found ~ the neigh
horhood ~ the stock exchange In pros
perous speculative periods.
The holidays call for some realization
Of profit as q matter OF course, ant
this has been in evidence throughout tn,
week FVceut for the disastrous hal
hour on Monday morning the profit-tak
ing has been conducted with apparent
The Chicaeo incident made it eviden
thar extra demands would be made upor
+ the New York monev market, partly To-
the taking OF measures of precauti0u aug
terrifying the situation there. partly f0
the necessary tie-nD Of resources involved
in the clearing house plan of settlement
There were heavy. IN fact very heavy
SHIPMENTS of currency 10 Chicago from
this point. Up to the middle of the week
also, it was an omen question whether
The resources OF the foreign exchang,
market would meet the demand for re
mittances abroad 70 meet in the reuav
ments "a foreign holders on our securl
ties. With the foreign markets unset
tied In addition 20 the Russian situation
II was feared that gold might go on
from New York. This probability was liz
nored, like all others, that seemed Il
argue against the snecuiatiOn.
The great center of the speculation hai
been Union Pacific. The discussions o
the movement in that stock. the vOlum
Of the dealings and the persistence o
tn advance point TO extraordinary devel
opinents regarding the property Moth
ing but rumor and surmise we're offere'
10 exnlain the mo cement The sueses
ton Of an attemnt to wrest control Of tn
property or a share IN it from its pres
chi owners was much discussed bu
] with some skeDticism. owing 10 publi
/ knowledge of large pooled holdings ant
| the resources uf the control for issue o
! additional stock The bond market 70
the week IVES quite. active and move'
in accord with stocks.
United States new Is registered de
clinefi - and the coupons 4 per cent OF
cali this week.