The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-06-13
MARKET
CONTINUES DULL
Upward Movement During the
Early Hours Confined to a
Few Special Stocks.
ST. PAUL LED PROCESSION
CLOSE SLIGHTLY ABOVE LOW
EST LEVEL.

New York. June 12--Further duIlness
was shown by the stock market today
The movement, for the most part up
ward in the early hours. was largely in
the high-priced issues, such as Delaware
q Hudson, the spring wheat lines, which
embraced St Paul and the Hill roads.
Union Pacific, New York Central, Hi
nois Central, Pennsylvania and its al
lies and the Gould properties. Reports
OF a coming contest to overthrow the
present management of the Delaware &
raVagancc and lack of progress. re-
CeIEed little credit inSSmUCb as il is. gem
orally known that the stock is closely
neld ana could hardly be acquired in the
open market St Paul and the other
gram carriers were -favOra bly, affected
at the outset by the previous days re-
ports of the high average shown for
spring wheat in the northwest. Penn
SylVanla strength followed uncOnfirmed
rumOTS Of the successful contamination
OF the companys Paris loan which has
been hanging for the past fortnight The
improved showing of the Gould proper
ties was accepted as a direct reflection
OF the optimistic statements attributed to
their utulaT head There was no other
news to account for the better tone of
the mdTket-ceFtainly none of a specific
character-thOugh general satisfaction
seems 10 be felt at the crop and business
conditions or the country In this con-
nectlOn 1t may be stated that Wall street
especially the less conservative element
is viewing with unusual cOmplacenCy the
adjournment Of congress, now almost in
sight
The heaviest purchases of stocks TODAY
We're made by influential houses whose
names are generally linked with the op-
eTatlonS Of large investors The sO-caIled
commission houses and professionals as
a whole were decidedly less conspicuous
IN the day s business This would seem
to imply that the big interests which
have been under the market for months
past show no disposition to abandon their
position. Business dwindIed and prices
SaESed before the end Of the morning
session Traders took a hand and PLAYED
for reaction in which they were partly
successful. Undoubtedly. the DriDciDaI
reason for the setback of the late sps-
sion came from the weekly crop report.
which told OF a lack of rain in Nebraska
Iowa Illinois Missouri and Virginia
while severe dTOughtS were reported from
southern Texas and the central Gulf dis
trictS- and too much rain in the upper
Missouri valley and upper lake regions.
Concurrent with this news came a boom
in wheat and the other commodity mar
kets which seemed to be engineered by
the coteTie Of professionals so often
prominent in stocks. St. PauPS upward
course was not arrested. despite the state
ment from an authoritative source that
the cOmpdny,S plans for financing the
Pacific coast extension are not to be an
nOunCed in the immediate future That
stock was almost the one strong feature
of the late trading, though PENNSYLVANIA
held firm. Among the weak issues were
Union Pacific AmalCamated Copper and
Reading, while the general list reflected
heavy UudertOue. The closing was
fairly active with a feeble rally, which
advanced prices from the lowest level.
Bonds were irregular Total sales, par
value. S2955.000-
United States IS advanced Z and the
IS and old Is l. per cent on call