The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-03-24
STOCK MARKET
IS IMPROVING
Slight Expansion in the Volume Of
Dealings and Considerable
Show Of Strength.
MOVEMENT VERY UNEVEN
PRICES DID NOT HOLD AT THE
CLOSE.

New York, March 2S.-There was
some expansion in the volume of deal
ings on the stock exchange today and
considerable degree of strength In
stocks. Most of the days business was
done In the forenoon and by the middle
Of the afternoon the market had re-
Iapsed again into its torpid state. The
continuation Of the upward movements
from yesterday broke the rule which
had been in evidence for some time past
of a reversal on one day of the move
ment Of the previous day. This fact,
together with the larger and more az
gresSlVe buying today, gave the market
an appearance of considerable improve
ment. The movement, however, was
spOtty and uneven and largely due to
the sympathetic effect of the heavy op-
eratiOns in few stocks This charac-
ter of the market suggested the prob
ability that the increased business was
still largely in the hands of profession
al operators who traded somewhat
more boldly.
Reading was the mainstay of the
market, both in the volume Of transac-
tiOns and in the extent of the move
ment. Its strong advance was supposed
to reflect improved prospects of a set
Element with the anthracite miners
which would avert a strike. There was
no notable response amongst the an
thracite coalers as a, group to the read
ing movement, and this left sentiment
obscure on the strike outlook. AS a
matter Of fact no definite news was
forthcoming of the probable final out
come of the negotiations in the coal
trade. More Importance was attached
to the fresh return from holiday trip
of the leader of the organized party in
the market which has controlled the
movements in Reading for many
months past. The vulnerable interest
in the stock was believed also to ac-
centuate the movement.
News of the labor outlook in the soft
coal trade was equally vague. The rise
in Colorado Fuel and in the West Vir-
ginia soft coal carriers was based on
the suppositiOn that a soft coal strike
would leave those regions exempt and
operate possibly to their benefit Penn
sylvania failed to share in the strength
Of its subsidiary companies and the
United States Steel stocks were also
notably heavy, that corporation having
much to reckon with in the soft coal
settlement. The New York Central
stocks shared this backward tendency.
The call money market worked decid-
eddy easier and sentiment was inclined
to expect a favorable bank statement.
Yesterdays transfers to the interior
established a loss to the sub-treasury
for the week of 1864, 900. But the banks
estimate that they have currency on
balance from the interior on the express
movement and about SSOO,O0O of the
gold engaged in London has arrived
and gone into bank reserves A re-
ported sale of a stock exchange seat at
SS6, 600, a decline of SO, 700 from the rec
ord price, was regarded as significant
of the dull business outlook in the stock
market
Prices were not well held in the ex-
treme dullness of the late trading and
the closing tone was easy at cOnceS-
SiOnS from the best prices.
Bonds were very heavy. Total sales,
par value, 81, $50 900. United States
bonds were all unchanged on call.