The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-01-19
)CK MARKET
I NOT So ACTIVE
linz Takes Place of Union
Pacific as Spectators
FayOrite.
Ids S0UTHWESTERNS
TAKE PROMINENT PLACE
.lgamated Dividend RumOr
Results in a Spectacular
Movement.

v " YORK, Jan 1s.-The trading In
!. today for most of the time was
d np TO yesterdays rate OF activity
. i.he market fell into positive dullness
: mes. An excellent medium for mar
. sr stocks was offered. nevertheless,
!, The profit taking was industriously
led under cover of the sustaining
! \ OF the strong features Of the
|, ng
,,panations OF the movements In spe-
tstocks were mostly OF the nature Of
4 or. which failed of any authentic con-
Ration. 1t was rather obvious that the
ulatIon was based on general causes
& s.t1condltions. while the rumors regard
- s1indlyidunl stocks were duo TO at
= :,ts TO divert the speculative interest
Especial channels. a very large num-
OF dormant industrial stocks and spe-
les were awakened into activity and
ne prominent advances.
90l the more substantial standard stocks
lffeature OF the day was the renewal
-.he recent active speculation in Read.
M This was a striking counterpart OF
Hreversion into Union Pacific and the
Sfing stocks yesterday. Much OF the
5ty In Reading was traceable TO the
" sources as that which accompanied
long advance In the hands Of the pool
! price was carried TO the new record,
ne 1as.
Meantime there was conspicuous realiz-
INin Union Pacific. Smelling and Lead,
r. rising 10 the new record prices, were
~ subjected to active realizing Next
..hesc movements. the most prominent
iae railroad list were the Gould South
-nerns. Missouri Pacific and Wabash
s.Arred Jointly led the movement. which
.laI l,,g,y I.,r - tr,
"ns degree.
- generally accepted explanation Of
e.movenlent was that the group has
lagGard throughout the
+" tnged speculation which has extend
~ almost every other part of the mar
~l lStress was laid also upon a published
cmiew with the head of the system eX
ing very confident opinions on the
Ise OF sustained prosperity.
q Hfe railroads for some time past haye
!. rmaking unfavorable comparisons of
yngs with last year. owing 10 the spe
4. fdvantages 10 them from the st. Lou
!. position. and these comparisons arc
Inow beginning TO show In adopting
jurrent earnings
at interest centcrcd upon Amalga-
M j Copper all day, as action on the
And was expected before the market
The restricted movement OF the
st b during most OF the day suggested
& ! measures OF restraint upon II with
lurpose Of detractlng from a sensa-
'Pl, View OF the dividend meeting The
lors had not been long In session.
Yer, TO consider the dividend action
lVf rumors began 10 fly about the
al Exchange with potent effect upon
On ,arket movement OF the stock
Nj general expectation was of ~ per
dividend for the quarter. but after
u Ihssemblage Of the directors a false
T was put In circulation that the div
II would be placed on : or s per cent
upper annum. Amalgamatod Copper,
,rri had sold as low as 1l0A shot UP TO
'N1 on enormous dealings, fell back 10
and fuctuated violently. On the an
4rement of the dividend il dropped to
L2put closed at l1lh, net decline Of
rhc late break in the stock unsettled
FFeneral market and the closing tone
lderably
8pey continues to accumulate at this
LIT and interest rates to work easier.
4peclinc In the discount rate OF the I'm
9u Bank OF Germany by q fun per
tsnoWed the great relaxation of mon
Il this center and the strong weekly
4fment of the Imperial bank bore out
esnowing. The Bank Of England also
.yed a gain In reserves OF nearly Sll =
gP. With an effective loan contraction
Zen raised the proportion Of reserves
laolllties 10 nearly 43 per cent, com
Id with 33ia per cent last week
5e decrease OF S27. sos. 900 in the Item
government securities showed the ex-
lof the measures taken by the bank
tmoNe money from the market For
} eAchange here was frm and New
eH eNcnange at Chicago fell TO 10
Ipunt as against the recently prevail
-mds We're firm Total s,Ios no.. 81
y5.3S5,0C0 P"' wi
,lted States bonds were all UNCHANGED
N0fall ' o"'''''eeo