The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-16
BROKERS WERE
kept GUESSING
Frantic Effort to Follow FIuctu-
ations in st. Paul During
the Day.
PUBLIC NOT IN EVIDENCE
PROFESSIONALS INFLUENCED By
VARIOUS RUMoRs.

New York, Nov. 1.-THE DAYS market
was dominated by varying fluctuations in
81 Paul and these were so constant as to
Keep sentiment upon the general market
a good deal unsettled. Sales to realize
Upon the wide advance of the last few
days caused an appearance of weakness
III 81 Paul. 10 which the whole market
responded and again, when ST Paul WAS
supported and showed signs of heavy ae-
emulation On rapidly rising scale the
whole market once more turned strong
This was largely due 10 the belief among
professional operators that they could
read the course OF the Standard Oil group
OF CO capitalists in the operations in St Paul
ship
The general public was not largely in
evidence in the market and seemed too
tlmid about attempting to read the evil
dence of this supposed leadership in the
speculation There was no news IN indi-
cate the causes of the St, Paul movement
Beyond the reiteratiOB of previous rumors.
The supposition that subscription rights
t. new stock Were in view was fostered
by the manner in which the rise in the
preferred stock kept pace with the conn
mon stock, all on nominal dealings On
the other hand. the close sympathy in the
movement of St Paul and Southern Pa
clflc was regarded as corroborative of sur
misses of a closer relation with the Har-
TLu1en combination of railroad properties
The dealings in the general market were
uulltE ana the fluctuations narrower than
Yesterday owing to the confusion caused
oy the varying movements in the market
leaders.
There was some disposition to look for a
motive in the occasional heaviness of the
market TO the Inauguration of the gov
eminent prosecution against the Stand
ard Oil company. The stock of the com
pany IN the curb market fell sharply some
y points from the previous days price.
following similar declines for several DAYS
past but the parcels of shares dealt in
were OF size which is not accorded an
official quotation in the case of any stock
wren dealt in upon the exchange. Opin-
ion was confident that conditions in the
money market are working towards
g eater ease. The weekly statement of the
Bank of England disclosed a degree of
TecUperatiOn which promised sufficient
improvement in time to meet the wear
end drain, and less fears were entertained
o! a rise to Z per cent in the official
discount rate before the year Closes The
~, 44S,U00 expansion in value of our agri-
cultural exports for October reflected the
cost of fulfillment of the Calculations of
heavy foreign balances in our favor on
Whlch We're based the large borrowings
from foreign markets, maturing from time
to time now, which means thus assured 20
facilitate their liquidation.
Inc easier tone of money was distinctly
perceptible in the time money as well as
me call money market today. and New
y rk exchange at interior points con-
lnFed 10 rise today. Interest attaches to
the call by the New York superintendent
of banking for statement of condition of
state banks as of Nov. IL for the light il
will throw upon the condition of the trust
companies in this city. This call has been
expected by the trust companies as WAS
that of yesterday by the United States
controller for the condition of national
banks as OF Nov. r. 1t was urged i'm the
stock market today that greater freedom
in extending credits may be looked for
now that the period is set to the require
ment for window dressing in expecta-
ton of these calls.
The closing tone became unsettled and
irregular again when St. Paul lost all but
half of its rise
Bonds were steady. Total sales, par val
he. Sl.73601a
United States Is declined i per cent
on call