The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-18
SPECTATORS
SEEM AFRAID
Only Few Timid Ventures Made in
Wall Street.
MARKET STILL DECLINING
PROMISE OF A WEEK AGO NOT
REALIZED.

New York. June 17.-SmaH business
for tOday's half session closed dull
week on the stock exchange, and at
forded no relief 10 the existing stag
nant conditions. The most significant
feature in the market was the loss Of
nearly a point on Reading, which was
the only stock to show any activity
or strength yesterday. This was the
index of the days whole movement
Declines of varying fractions are the
rule. The considerations nature or
the transactions by the professional
traders seems TO be absolutely without
a sustaining basis in any actual bust
ness either by sellers or buyers Of
stocks.
Small as were yesterdays advances
the traders had no other resource to-
day than 10 reserve their position, y5s-
terday's narrow movement having eN-
hauEted the possibility of an upward
movement. The inertia of the market
IS complete except for these timid ven
lures by a small remnant of traders
There was some discussion of the re-
ported friction between Germany ana
France over their relations towards
Morocco. but II was said that not over
500 shares were traded in here for for
l.
were tracea bic. were only as orders
delayed until today in the execution
The greater speculative activity IN
the markets for commodities gives
greater opportunity and helps to di-
vert attention from stocks The heavy
tone of the market was aCCentuated to
a very slight extent after the appear
ance of the bank statement. The in
crease in deposits was principally due
to loan expansion, and while the re-
serve requirement was thus increased
some S4.113,000, the cash increase
amounted to only S1450000- The re-
suit was a shrinkage in the surplus Of
S2.617,000 to s7,209.500. The activity in
Japanese Az certificates continued. but
the narrow range made them less at
tractive for trading operations than Oh
yesterday
Total sales OF bonds, par value, 81
355. 600
The promise OF revived interest in
stocks held out by the squirt of activ-
ity in last Saturdays market was not
fulfilled by the weeks events and the
volume Of dealings has subsidized from
day to day to a lower level than last
week. The purchase Of Equitable Life
Assurance stock to be placed with the
trustees aroused great hopes of the re-
moval of the most effective repTessive
influence on stock market activity.
These hopes proved unfOunded- Re
strictions are looked for in the future
administration of insurance companies
I'm handling surplus funds and in sub
scriptiOns tO bond issues.
The money market remains in
tranquil condition and no uneasiness
IS shown over the coming half-yeaTly
settlement, for which preparations are
making Bankers here are little dis
posed to put out long time loans at
present rates. and are reported to be
hopeful of better rates late I'm the year
when the interior demand for funds
develops. n spite of the paralysis of
demand for stocks. there is no press
ure to sell With the exception of the
strength and activity Of japanese
bonds, the bond market has been duh
and irregular
United States s. registered advanced
Z and the new Is coupon = per cent
on call on the week