The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-01-21
IRKET ACTIVITY
At BOILING POINT
raj SprinkIing Net Losses
i'm Spite of Whipping
Up Prices.
OF THE WEEK
ARE VERY EXTENSIVE
lnderfuI AbSOrptiye Power of
the Market Makes ReaIiz-
Ing Popular.

-. lEW YORK, Jan. 2O.-Actiyity was at
d.. boiling point I'm the stock market to
49,. A detailed analysis or the net
lsah nges OF the day reveals a liberal
H .lnkling OF net losses throughout the
nte In spite OF the frothy whipping up OF
ses In the speculative favorites. This
~. icess Was conspicuous at the opening
la again AT the closing but was taken
ota lantagc of at both times 10 market
~ Hugh lines OF stocks and take profits
d. OF the market,
or lhc moet striking gains in the carly
@ Srket were much impaired during the
,gress OF the trading and ~ some
hon ses losses were substituted. The bur
nazkh OF sustaining the late market was
pas.cWn upon ST Paul, the @ts point rise
Z es,t which countcTacted the realizing
which became general after
appearance OF the bank statement.
,n, )f the earlier features Reading rose In
iRElgolatile manner four points 10 new
cord level This stock closed again
,olthIn fraction OF the highest. Others
lila not fare so we'll Anaconda, after
Hing twelve points higher than last
gbt. closed ten points lower Amalgs- :
r, hted Copper was also under steady
llsessurc OF realizing. and the same wns
he OF the Pacilcs and Smelling stocks.
I. Vhe unstcadincss OF the market FOR the
lpNttal came In for consideration In CON
i, tnltcd States Steel preferred continued
'rts recent strong tone. with two point
4 dyance. OF which ~ saved more than
aalf at the last. The bank statement
Sns regarded as favorable. the gain In
.- ash Of nearly 81 90 ero being rather In
a <cess OF the estimates. The loan cH-
tnslon of S2O.55S.eOO wac regarded with
n IS favor but was considered fair
"a hscquence or the great animation OF
speculation during the week.
" fhe hrm tone OF the foreign exchange
,k 3uRht I'm for renewed consideration the
estiOn OF q future export movement Of
;r a The final slump I'm Anaconda had
Il Nightly unscttlng effect on the market
~ c1ch had commenced to recover under
aggressive lead Of the 81. Paul
's yement. Total sales, Of bonds. par
tas ltaIings ut the stock exchange this
TX have amounted To more than a mil
kat and a half shares OF stocks a day on
io' = OF all classes has resulted and the
.''t.- slant realizing sales have been alb
.'-.', ied readily without making large In
z a. ~ on prices The realizing has not
rs ecurrcd strong buying OF other stocks
b'-advanCing prices made a sustaining
s 10 ,tence which helped Its accomplish
x hine OF the stocks which have been
80 hectcd to the heaviest realizing cume
ugh the digestive process so viSor-
,,z,,y eS TO encourage a resumption OF
| IIlkatlonS for the advance and have
led afterwards the strong sustaining
M0Sllencc In the market The realizing
''''' como apparently from large opera
p0Dn who accumulated heavy lines OF
IuIbks In The early stages OF the advance
n M, fall In anticipation OF the enlarged
kAlUand for stocks which would develop
! the turn OF the year and who held
through the stringent money
ILL 1itions OF December.
.lC present growth Of the general do
Wv. wv. I'D jGstlhes their calculations and the
"a snrmous profits accrued in many In
an .iccs induce their retirement from the
e.. sulatIou with assured gains. On the
ssa ekr hand. there Is a large class OF
'-'- ,sinlssion houses which kept their
- ints out OF The speculation throughout
-. tautumn with the explanation that tho
Sna Sencice OF the money market operated
Ill. ards 10 speculative commitments and
ted / chance for a reaction I'm prices
es,, ich would AFFORD opportunity 10 OBJ
ana / stocks at a lower level
DC reaction failed 10 develop and
lle the present high level OF prices
sau not commend itself TO the conserVa-
Judgment OF all. tho decisive relax
ars nes for holding securities as 10 bring
. large bclated demand Of this char
-. .hsidcs the purely speculative realizing
I, .ch makes up the bulk OF the sales
Ss,..tle is traceablc proportion of selling
m~ INVESTMENT holdings attracted by the
= 'es 10 which some OF the high grade
z fhritics have been lifted and which are
ly termed fancy prices
great variety of special conditions
. been advanced for the demand for
s"S1yidual stocks. But tho general fac
behind the movement arc clearly
ugh defined In the heavy accumuln-
AAi ~ OF currency In the reserve ccnters
over tho world. which H. going on
In the universal promise OF sustained
h 1Fperity found I'm the reports and opin-
lblf from all quarters or the business and
,tlstris world.
llpnfideucc has returned over the peace
IL outcome Of the Morocco conference
~ conditions I'm Russia have had less
nhrbing effect on foreign markets Ad-
ItIons are readily given at the high
ETi at which prices OF securities are
Ling OF the danger of Oycr-extenslon
- al imprudcnt undertakings in a time OF
S[Mn credit and universal confidence and
lIlIl Inevitable consequences OF check To
A anslou, reaction and depression. But
lV answer now heard I'm Wall street ie
N, although prices are high, they
misc TO go higher before reaction on
~. The element OF hazard is not with
~ its fascination now. as I'm all preced-
history. and speculative excitement
~naflrly swells and extends
avS onds have moved moderately cxccpt
re- the speculative issues United Stotss
- .feglstered and Is coupon advanced A.
abe y the new AZ coupon. :. per cent on
0tI on tho week
d po,