The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-04-19
. STOCKS CO Down
UNDER THE SHOCK
Great Disaster in San Francisco
Has Much Effect in Wall
STREET.
OTHER FACTORS LIKEWISE
ADD TO DEPRESSION
Day Closes With Downward
Course of Securities Still
in Evidence.

NEW YORK. April 1s.-wan street paid
eager attention to tho from San Fran
cisco. In common with tho rect OF the world
and tho terrible calamity had small part in
tho weakness of stocks today. This factor
supplemented by tho conviction that miners
strike in the anthracite region was inevitable
Tho steps taken in Washington towards fn!-
ther proceedings against the coal interests and
reports published during the morning OF a
forthcoming epccal message from tho Pres!-
dent calling for further measures against the
trusts caused considerable selling
Sales for London account mado IN additional
burden on the market The combined o3sect OF
these factors was heavy liquidation through
out the list. which carried prices comprehen-
sivey to lower level.
There effective effort 10 support the
market and occasional checks TO pauses In the
selling movement. tho downward course was
persistent. Securities ore not proof against the
sentimental erect OF great human cnlnmities
as has neeh demohstrated IN many piaces, me
depressing effect OF misfortune and suffering
may be expected to affect unfavornbly ousi-
meas pricos The market was under the innu-
OF this feeling to some extent. There
was 10 be considered. In addition. the actual
property loEs incidental 10 the disaster, which
were perceived to be Of enormous Dimensions.
Tho most Immediate realization OF this phase
OF the disaster was in the stocks OF the United
Railway Investment company, which repre-
Gents tho holdings of the san Francisco street
railway lines. Offerings of small lots Of these
found no takers except at WILDLY declining In
te-vols. TIC extreme loss for tho common stock
at the lowest OF the day wa9 2Slz points and
for the preferred l4ls points. The net loss of
tho common was lel5 and for tho preferred 10
points, mortgage bond OF the subsidiary
company sold of 5is points.
Tho effect the market OF this and Of the
other factors mentioned was mado moro acute
by the vulnerable condition of tho market
Itself which the recent course OF events has
been demonstrating. Evidence pretty
clear yesterday OF tho pressure OF long stock
on the market at all favorable opportunities
IT conceded TINT speculative operations
which have been held pertinacouHly through
the money strinGonoy were coming upon tho
market with the favorable conditions
caused by the relaxation In the money mar
ket
The easier conditions of money, however
failed to stimulate any large demand for stocks
such counted upon TO take over hold
ings by the special operators who accumulated
stocks last month The concurrence OF events
this morning prec!pitated tho liquidation,
which was entered upon TO moro gradual meth
DDS already
The selling for London account was attrib-
utcd to come extent 10 measures OF protection
against New York's heavy demand on that
center for gold. Covering by shorts 10 takc
profits on tho day days decline induced con-
siderable rally In the final hour but II was
poorly held and the closing was Irregular.
Bonds were heavy. Total sales par yaue,
81 1S7, coo