The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-01-31
is NOT
'''vER ITS SCARE
sim Stocks Accredited
s 9Ssstgely to Aggressive
Bear Party.
sY'S BREAK DUE
y VERY CLEVER STRIKE
Importance Attached to
Sse Inquiry of Pennsyl-
& vania Group.

~ YORK. Jan. 31,-Thc stock mar
-S,>e badly late in the day after a
M mutations OF speculative senti-
~ ich did not carry prices far from
% ,.trs level In either direction. This
uncertainty lasted until the be-
.e sof the final hour of the session,
uSspcks suddenly began TO stream
Fe market from all directions ut
:, though by concerted agree
stof developments TO account for
sgement was lacking 1t was gen
d attributed to a growing diStrust OF
sslhnical position OF the market and
IN krowing boldness Of an aggressive
Ss,rty. which has built up In the mar
J ,the last few days. This party was
I'd with a large part OF the heavy
: which broke the market yesterday
; Nominal grounds OF alarm over the
5'ssional resolution of Inquiry into
7mbination of railroads under the
3ylyania's auspices,
l:his morning opinion had settled
5into the feeling that yesterday
4 break in prices was largely due
The very heavy demand in cvi-
from yesterdays sellers. which was
slsly for the purpose OF covering
= Emphasized the conviction OF the
proportion of short selling I'm yes
s. break.
h extent of the decline yesterday
NJ, had the inevitable effect of pre-
ng speculative liquidation this
,g. There were considerable accu-
Dns OF selling orders In commission
at the opening. In order TO guard
~ threatening breaks In prices
h might become dangerous to the
s of banking credits. large support
-iers made their appearance In the
= TO help sustain prices, as Is the
: times when acute weakness de-
Orln the market
es OF this character are not de-
80 save the situation for the pure
I llative element. but TO avoid harm
fabric OF credits by the too rapid
, lion OF the collateral in loans
@e check TO the rapid fall in prices
Irrders are invariably withdrawn
!. ne market. and the holdings aC-
IN this process are likely to come
- the market as soon as IL is ca
ff absorbing them.
,ierccpton that buying was largely
y TO this class and that II was not
r TO follow any advance In prices
II encouragement TO take renewed
lon the market late In the day by
=. those holding large lines OF
and speculation for the advance.
Sthe renewal OF the decline. i'm
= was attached 10 the action In
Use of Representatives on the
y of the Pennsylvania group OF
Ils and to the measures AT Albany
Mitigate the State banking depart
4{While the market was showing
hfe to the depression during tho
3art OF the day, speculative opln-
{s inclined 10 belittle the impor-
t}f these measures.
effect was produced by the tone
:. Interview with the president OF
Eat Northern. asserting his cOnviC-
Eat the course OF affairs In this
= ut present amounted 10 n con-
IN OF the cOuntry's principal for
. living The variable reports OF
ningS for December by tho Eric.
: Valley, Chesapeake * Ohio and
ladian Pacific railroads were ig-
IN the rush TO liqUidatc spccula-
: dings.
Russian financial situation con-
Ito engage attention abroad and
NJ lne Likelihood OF an OutgO of
Fpm New York. But no engage
rwere announced The principal
2 of the liquidation ccntered I'm
6 Colorado Fuel, Union PaclRc.
Smelling and such stocks. which
Sen the subject of excessive or
. speculation in the immediate
lceh OF shorts 10 cover caused vlo-
Hes at the last, which largely re-
tho extent OF the declines. The
. States Steel stocks were not
Injected by the selling. and came
gngly AT the last, the common ris-
over last night, in anticipation OF
rable statement Of net earnings
!. quarter, 10 be given out late In
-ernoon.
: were Irregular. Total sales. par
~. .2s5 900.
d States bonds were oil nm
d on call