The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-12-03
SHORT SESSION;
LITTLE TRADING
Wall Street Still Under the Influence
of High Money Rate.
BANK STATEMENT WEAK
REVIEW OF RECENT MARKET oP-
CREATIONS.

New York, Dec 2.-Today's stock mar
ket was under the same influences as
that Of yesterday. The depression ana
hesitation shown in the early dealn
were based upon uncer ainties OF the
money outlook. the financial disturb
ancos in Russia and some anxiety over
the effect ON the assent ling of congress
and the proposed legs alton for federal
control of the railroad rates. Ihere 5
no actual borrowing Of money ar ne
stock exchange on Satu day, loans maze
on Friday carrying 0Nt- until NluA1e-,..
YESTERDAY money furry 10 ID per cent
left its disturbing influence ana IN q
pearanCe of the bank StIiemcnt was
looked 20 with interest 70 tnroW IL
on the actual siJuat ON. y ne sta tenn az
was q weak one, but sentim at seSHieu !"
lean 10 the iuter0reta- ON that thc con-
diuuns q sciOsed were those or the l1st
week ard that improvement was 10 be
of ected next week. Tn Iluehce MaS
IN inward tFndtucE or prices aItef ti-S
publication of tho bank state meut, Whlch
served 70 restore largely the prev o
declines. \ good effect was produc Dy
the Rock Island issues and the de-lal OF
rumnrs of the withdrawal OF ledu ny
interest in that property Inc htHA
statement itself with decrease rapor eu
81 Si.3 5000 in cash, itl.c 'ted IetAT-
moro than expected 'OSs. As last week
showed more than the expected ga H.
ia = weeS's showing was attributed 10
the working of the average system; Inc
Joan expansion of Sl1.5l,0O0 and The re-
Sulting Increase I'm .deDOSt,s sW llsd inc
reserve requirements 50 as 10 ar Get lnv
shriukage III the surplus 10 20 o. %
hr'neiug that item down again 10 e
565g15 The foreign eXch lnge market,
although nominal on Saturday. was
easier in tone, and rates OF q sCpuut c.
ctncd again in London. ST. ring, eA
change az Paris WIS weak. The closing
tone of stocks was firm al the recovery
Total sales OF bonds, par value, ST.
Review Of the Week.
The rise in silver, together with COP
per and lea.. has paved "a pote. part
in the animated s-eculat on IN the IN
dustrial stocks having 10 do with these
commodities The ultimate uevelopme nj
Of the situation thus presented IS lelhS
watched with attention TOT US t go =
ON the money market. over subscriptions
10 the Japanese loan Were " thout pei
,eDtihle effect on the money market.
The bulk OF these subscriptions are noC
payable until after the turn OF the year
The effect of the Russ on tuaton hFTe
has been restricted 10 the reflection tr m
foreign markets. ard the immediate srif-
ing of securities induced in this market
has not reached a ser Gus volume. llc
exteut of the financial uoSctl cmont lli
Russian securities being greater taah mo
period OF military reNtFses dcF ns me
war with japan is, however, taken dC~
count of In the railroad world there
have been several Important incidents.
81. Paurs formal announcement OF the
decision to extend the system 70 the
Pacific coast has be5n long prcdicI5 q.
The stock has IuoVcd N antlclpat on %
an immense cash benefit IN the way %
subscriDtipn privileges to the & WlV
OF authorized stocks in the treasury.
Suggestions mat bond issues were con-
temnlated for financing the new project
hed an uotavorabIe effect on the stock.
Rival trauscou mental lines We're buJ
slightly depressed. Bonds have moF,l
ifreElliarlv i'm sympathy with stocks. L,
y. new Is REGISTERED declined Is, The IS,
81. and the old Is, l per cent ON call on
this wees.