The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-04-01
LEVEL OF PRICES
SOON RESTORED
Wall Street Market Opened Lower, in
Sympathy With Movements
In London.
AWAITING PUBLIC DEMAND
SPECTATOR BELIEVE BOOM
is AT HAND.

New York. March 31-The slight open
Ing price recessions in the stock market
today were due largely to sympathy with
the London market. in which prices of
Americans moved irregularly. The level
90 prices was restored early in the deal
lH2S mere, and the market displayed va
Tying strength up to the closing, which
was firm and about at the best prices.
The movements We're not wide and trans
actions were not large, bat IL was evil
dent that the speculative party which
has embarked in the market this week
cav nothing In the days development
80 Change their position. which is TO
await a revived public demand for Sc
curities which IS expected to follow the
hoped for relaxation in the money mar
keus next week
Conditions in the coal Industry had spe-
Cial reflection In the days movement
especially the decision Of the miners to
accept the terms offered by that TDr-
Ccdes the miners demands instead of
making a shutdown of production gen
benefit TO the United States Steel cor
poraton, whose supply of fuel is con-
ccrned. and the United States Steel
stocks were notably strong in conse-
QucnCc. The Pittsburg coal stocks were
marked up briskly after lying dormant
Tor IA long time.
Rumors were busiIy circulated ut the
same time that the plan for the 1isposi-
ton OF the Great Northern's iron ore
ton had been contaminated. The buying
of the Hill stocks and of the Hartman
IdclIlcS was attributed to this THmOr,
which has been many times revived in
Wall street. Best prices were made
after the appearance of the bank state
ment. which was better than had been
expected. further consignment of
S1.25OO0O of imported gold due to arrive
today will appear in next weeks hank
reserves There was continued discus
sion of further probable enga gements of
Change however vrere marked Ii,, li,.,1I,-
y today, although the Saturday market
is only nominal.
al sa1a Of
600.
Review of the Week
There has been some additional parti-
cipation in the stock market this week,
which is commonly attributed TO an al
most exclusively professional origin.
These tentative operations are based ap-
parently on the expectation of improved
market conditions after the first of the
month and the desire to be in a position
To take advantage of the increased de-
nand for securities which may develop
at that time No evidence of any actual
awakening of such outside demand has
! appeared. The professional movement
AitSelf has been hating and irregular and
"a gzsrupted b4- frequent reactions, but
the trend Of prices was upwards and the
speculative position seemed TO be main
tanned with some confidence even IN the
intervals when accumulation and the bid
ding up OF prices was deSisted from on
account Of a disCouraging action CT the
market.
The first of April has been looked for
ward to for a long time as likely to mark
the period of maximum requirement on
the money market and to be followed by
n relaxation Of interest rates and an in
creased supply Of available funds for en-
ployment in speculation which might tend
TO stimulate a market movement. The
opening of the week with tranquil condi-
tiOns in money in spite of the near ap-
proach of the quarterly settlements en-
cOuraged a hope that even temporary
furry in call money might be avoided.
This hope was disappointed and the
sharp hardening of call loan rates be
ginning Thursday chilled the specuIa tive
confidence. II is to be noted in this con-
nee zion that 81 800, 900 in gold was shipped
from Australia to Japan this week. which
may be an indirect effect of remittances
from London 10 Japan.
On the other hand. the production of
finished iron and steel products continues
Il very large scale and large new or
ders for steel rails are reported this
week.
Prices of bonds have been fairly we'll
maintained. but business in that de-
partment was small
L. s. IS registered advanced Il. and do.
coupon p per cent on call for the week