The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-10-17
ROOM TRADERS
ALMOST ALONE
Not Enough Doing in Wall
Street to Give a Swing
to Prices.
NO PROFITS IN SCALPING
PUBLIC SHOWS NO INTEREST IN
MARKET.
NO PROFITS IN SCALPING

New York, Oct. Interpretations in stocks
today were apathetc and listless. The
smaller class of room traders had the
market almost entirely to themselves.
Their operations did not give enough mo-
tive power for any appreciate swing to
prices. The market reacted again upon
sentiment to discourage the traders ow-
Ing to the small profits on scalping opera
tons. Complaints of the irksomeness of
the state stock transfer tax, which has
been significantly lacking during the
period OF wide price movements and cor
responding speculative profits, were re-
vived. The public showed no interest in
the market and the absence of any large
orders, such as indicate the activity of
powerful financial leadership In the mar
ket, confirmed q conviction which is
growing In the minds OF professional op-
orators that attempts to attract public in
terest have been abandoned for the pres
ent. -
Some of the large commission houses
under heavy running expenses complain
of an entire absence Of orders to execute
today. The sluggish movement and the
dull trading In Amalgamated Copper were
1t is rare to see such neglect OF this IA
vOrite medium OF speculation on the eve
of q dividend meeting. The directors are
scheduled to meet on Thursday TO decide
the amount OF the next quarterly dis
bursement. Assertions are very conf
dent OF the intention to put the stock on
an per cent dividend basis, but every
attempt to advance the stock brings out
free offerings. Even with the doubt thus
suggested of the dividend action it IS
unusual for the stock to be quiescent as
at present
Recent pressure against Union Pacific
although unexplained by any news, is re-
garded as equally significant of the diSin-
ClinatiOn of financial interests which con-
troll the market at times TO lead spec
ulative movement. Current gossip desig-
mates the period of election uncertainty
as the probable duration of the quietness
of the market. The days trading was
singularly devoid OF incident and there
was no notable change in existing condi-
tions.
The London money market was about
steady but the Bank OF England gave up
another 100000 in gold for Egypt, and
sterling exchange at Berlin continued to
decline In Paris, however, there was
some recovery in the sterling exchange
rate The swift decline in the local ex-
change market was arrested short of the
return to the gold import point. 1t was
reported. however. that shipment of
s1.5OO,OOO in gold had started from Aus
tralia TO San Francisco. The movement
of gold to Canada prompted by the furry
in the Toronto banking situation was not
continued beyond the S3,000,c0O said to
have been shipped although il is Sug-
gested that gold certificates by mail may
have been shipped to that destination.
The local money market was not dis
turbed but the downward course of IN
terest rates seemed to come TO an end.
The influence CT the reported high pres
sure of the railroad companies upon the
railroad equipment companies to fill or
ders was confined to Pressed Steel Car
I'm the days stock market. Union Pacific
and Amalgamated Copper finally
achieved a gain Of a point or more, but
the number of stocks of first Importance
that moved that much was very small.
The sales for the day were the smallest
for any full day since early in July.
Bonds were irregular. Total sales, par
value s21440O0. United StatesS bond
were unchanged on call