The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-18

|ESSIONAL TRADERS
ACCUMULATE PROFITS
puIation Of Securities
lows Hand of Veterans
in the Pit.

YORK. May 17.-Tho professional
ans of the current stock market
{d1fned themselves again by the
az today's market. Varying huo-
over narrowing range and
,.nt Encouragement OF any par
an outside OF the most persistent
lana, operators wero the charae-
. Of tho trading.
arly dealings made snow Oh CON
"a animation and carried an I'M
oS q continuance OF tho brisk
no tendency OF the latter part oil
80 The adroitness OF the display
rgth nointed 10 skilful and vote
~<sf management. But II was not
S,1 as 10 prevent tho fact emerg-
M elarIng distiuctness In short
"a stocks which were conspicuous
-rrfh Yesterday wero being dill
~ info tho market for the pur-
= realizing profits while the now
~ strength were sustaining prices
<nathy and encouraging the pur-
;< new speculative elements or the
xbioh were lifted to higher prices
orday's dealings.
stocks included most OF those
"a supposed TO be the favorite
I; for operations by the so-called
"A OIL party. Their advance yes
~as due to the influence of the
AZ annual report and the expected
nd by Standard OIL officials In re-
1hs arraignment Of the company
fommissloner OF Corporations.
Confessional element adopted the
~ that this powerful group OF
nfa was embarked on a campaign
~ In prices. When IL became evil
Sday that the same stocks were
odd 70 take profits, professional
md was thrown into a quandary
n to the attitude Of the STANDARD
rr light on this important ques-
Ia professional element was not
IMPRESSED with other news develop
al the day. Tho strength was
rtrictly confined to the group OF
.Ife coalers on the assumption that
senefts were to accrue from the
,etylemcnt for O term or three
q come, Very spectacular advances
cored In tho high-prlced members
/. group.
thc outset to positive depression
was rather clearly traceable 10
s1osurc elicited by the inquiry into
Z coal carriers and by q report
rosIdent Cassatt contemplated re-
n Pennsylvania has been heaNy
/, sinoe tho $50, 600 loan was an
q In the market, supplemented as
|by rumors of additional borrow
come. Tho violent decline In Ma
Lead on tho resumption of divi-'
3royed rather formidable to those
I've bought other stocks on an eX-
rise in anticipation or new dipi-
OF OF increased dlYi-
>serious attention was paid to the
Hon of the currency outgo TO San
90. Todey's transfers to that point
4 the sub-trcasury rose to 2,GI,-
a Yesterdays explanation OF q
1 Transaction" lost Its force of re-
loo today The movement Is said
'kely to reach considerable proper
,xaln In preparation for the early
Hon of banking In San Francisco
10. II Is believed. on account OF
noes by some OF the Insurance
des with the expiration of the
lay period after the losses.
mb-treasury accounting shows a
loss by the banks on the weeks
I,ns, but as this is on account of
nrn of Government deposits al
against gold engagements and Is
bod by the receipt by the banks
gold from abroad. the
SItion Of the banks Is not affected.
honey rates wcre not affected by
5ewal OF the movement TO San
100. Foreign exchange rates were
10 advance. thus Offering no sug-
of O resumption OF tho gold i'm
1yement. Crop damage reports af-
The wheat market and may have
lied to the unsettlement of stocks,
3glng movement was rs Irregular
erdays hardening movement, but
Jas a general yielding OF the last
4 closing tone was weak,
were Irregular. Total sales, par
4. 800 900.
4 States bonds were unchanged on