The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-03-25
SMALL INTEREST
IN THE MARKET
Trading in Wall Street Listless and
the Price Movement Mar
row in the Extreme.
OPERATIONS OF THE WEEK
DEMAND NOT SUFFICIENT TO
BOOST PRICES.
OPERATIONS OF THE WEEK

X 1
slight interest shown in today's stock
market. Trading was Iistless and the
price movement was very narrow with
no well-defned tendency. Reading was
irregular with fluctuations ranging TO a
point below last night. followed TO
less extent by the general list. The
market lacked the stimulating influence
which came from Readings strong ad-
vance yesterday and was inclined 10
sag. Last prices of the week in the
majority of active stocks are not ma
teTielly altered from those of last Sat
urday, although there have been con-
siderable fluctuations during the week.
The evident disposition to return to a
fixed level is thus demonstrated, con-
fiTming the conclusion as to the almost
exclusively professional nature of the
operations
The bank statement showed no
changes sufficient to alter the uncer-
tain feeling over the money outlook.
The slight -recUpeTatiOn in the banking
position offers small margin for the ac-
quirements for the April 1 settlements
Bank Clearings for the country as
whole again show a slight contraction
for the week compared with last year,
the decrease being more than accounted
for by New York City clearings. The
total sales of stocks fer the six bust
ness days ending Friday, numbered g.
621. 49S shares, which is only about half
the sales in the corresponding week Of
last year The par value of S10,791 600
bonds sold in the same period also rep
Tesents only half the volume in the last
years period. The decline in bank
clearings is thus closely associated with
the subsistence of circulation.
Outside Of the seven principal cities
10 ,1ip e1a1 in
E crease over those of last year. There
was nothing in the days occurrences
to indicate any change in the money
and exchange situation. The stock
market elased intensely dull and irreg-
ular in tone.
Total sales of bonds. par value. ST.
075,OOJe
The Weeks Operations.
Operations I'm the stock market dur
ing the week have been small and un-
important and the movement of prices
{ was exceedingly irregular. Business
was in the hands OF the smaller class
of professionals and the market has
demonstrated the futility of such OpeF-
atoms to effect any substantial altera-
tion in the level of values.
The factors holding. the market I'm re-
straint were much the same as for some
time past The few DEVELOPMENTS af-
cient q remove existing doubts, and
there Mas a continued paralysis of any
effective demand. The market was
free. however. from any urgent liqui-
datiOns The consequence was the con-
slant tendency Of prices to return to a
fixed level Money rates have been little
changed during the week. but the light
demand for funds for speculative pur-
poses is believed to be responsible for
this in part The engagement of gold in
Berlin for export to New York. supple
menting the previous small engage
ments in London, has been of small in
huence on stock market sentiment. The
ruling prices of exchange failed to ex-
plain bow any profit could be afforded
on the transaction as a purely exchange
operation, and the belief that condi-
- tons were forced TO effect il deprived
It Of a beneficial effect on sentiment
The reception accorded the news of
the intended issue of 500 100000 new
New York Central stock indicated an
other factor in the conservatism Of the
market The enormous new capital is
sues since the first OF the year have
been much discussed in Wall street as
threatening a possible gIut Of new Sc
Curltles- Most Of these new issues hith-
eTtO have been bonds, and the largest
effect has been peTceptible i'm the bond
market This market is slow and bond
dealers complain of lethargic demand
Tor old issues owing to the displacement
Of demand by the newer candidates for
favor. The same effect is feared in the
stock department as consequence of
so large an addition, although assur-
ances are given that the intended new
issue VIII be offered in moderate in
stallments and at considerable intervals
Of time. with privilege to stockholders
10 subscribe at par, constituting valu-
able rights at the existing market price
for the stock.
The bond market las been duh and
Irregular. e4
Onited states new Is advanced Z per
cent on can during the week