The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-05-18

Standard Oil Party in Wall
Street Gathering Up
Loose Change.
BROKERS SEEM PUZZLED
GENERAL YIELDING AT THE
CLOSE.

New York, May 1.-THE professional
limitations Of cne current stock market
clearly defined themselves again by the
action Of tOday's market Varying fluc-
tuations over d narrowing range and con
seQue-It dIscOuraSVIn,u of any participa-
ton outside Of I've most persistent pro
fessional 1DCia toie wee the cn;racteris-
tics OF the trading. The early dealings
mace show O. Coi,s 'teTabic an nation
and carried an IMPRESSION Of q cDGtInu-
ance OF the brisk advancing tendency of
the latter ra-t - S,s75s-i ". Ti- al ut
ness OF lie display Of strength 10 'nIcd
70 ShuIuI istits tC;t-- all TIA IL .T5.:--C-
ment- But il was not so skiiful as to
prevent the fact emerging NI5h ElarInE
dlSunC-pCSs III . ShOr. time that stocks
which were conspicuous for strength yes
teTday were being diligently fed into the
market for the purpose of realizing pro-
ITS while the new points of strength were
sustaining prices by sympathy and en-
cOurag1ng the purchase by new spccula-
tive elements of the stocks which were
lifted to higher prices in yesterdays deal
lngS. These stocks included most OF thuSe
which are supposed to be the favOrite me-
dunn for operations by the sOcaI!ed
Standard Oil party. Their advance yes
terday was due TO the influence of the
Anaconda annual report and the expected
statement Dy Standard Oil officials IN
reply to the arrangement of the company
by the commissioner Of corporations
The professional element adopted the in
ference that this powerful group Of cap
ItallSts was embarked on campaign for
a rise in prices When il became evil
dent To-Day that the same stocks were be
ing sold to take profits, professional sen
timent was thrown into n QuandaTy again
as TO the attitude of the Standard Oil
party. Lacking light on this important
question. the professional element was
not much impressed with other news de
vcIOpment,. Of the day The strength was
pretty strictly COnfi3ed to the gT1UP Of
anthracite coaiCTs on the assumption that
great benefits we're to accrue from the
IabC- settlement for term of three
yeaIS to come Very spectacular ad-
vanceS were scored in the high D iced
members IF this group. TIE Pennsylvania
gcuUp vas subject from The outset To
positive depression. which was rather
clearly traceable to the disclosure ELECTED
by The inquiry INFO the soft coal carriers
ana rs report that President CJsSatt
contemplated retirement. Pennsylvania
has been heavy IN tone since thu S5fcG.-
Oh an WAS an influence y, tn market.
suppl ntCd IS it was by rU'ECtS ~
additional borrowing II come.
The violent decline in NatiGlal Led CT
the resumption IF divid -nds PROVED rather
formidable to those who h5vs fought
other stocks on an extensive rise in an
ticipatiAn of rev dividend declarations Of
of increased 5.vidends. Mo- serious at
tentiOn was paid to the resumption of the
Curreucv oTtgo to San Francisco. t.
days transfers to that point through the
sub-treasJT-- rose to S2.22I.tE1D and veSter-
ton lost It's force of reinsurance today.
The movement is said 20 be likely TO
reach considerable proportions again in
preparation for the early r1su nptio1 #
banking III San Francisco ana aIS1. ( IS
believed. On account of rem .+-ances Dy
sor,c Of the insurance companies with
the expiration of the thirty-Gay period
after tie losses.
The suD--reasury accounting shows a
heavv less by the banks on the week
operations. but as this IS on account Of
tae return Of government deposits al
lowed against gold engagements ana is