The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-06
DULL DAY FOR
SPECTATORS
Shorts Have Apparently Sold Enough
to Save Themselves and There
Is No Urgent Demand.
FUTURE A TRIFLE SQUALLY
MARKET UNSETTLED BY LABOR
DISPUTES.

New York, Feb. 5-The most striking
feature of the market today was the de-
creased rate Of inactivity. It is many
weeks since the aggregate dealings for
day have fallen much below the million
and a half share mark. The total sales
today were about a million shares. Half
the days business was done during the
first hour. The reason for the falling off
was clearly enough the com Dletion of
n6ceSS1touS selling so far as was immedi-
ately urgent and a disinclinatiOn to re-
new any large buying. There was live
ly selling movement during the course of
the first hour which was natural enough
in view of the unsettllng effect of the
break in prices Of Saturday.
L When the dullnesS of the market gave
notice that selling pressure was subsid-
ing there was a slow upward swing which
became more langUid the higher the level
OF prices reached The outlook for q set
tlement Of the wage dispute amongst the
coal miners was regarded quite uniVer-
sally as disCOuraging ard speculative SEN
tIment was inclined to take for granted
that a strike would occur. The anthra-
cite coal carriers were equally weak with
the bituminOuS group rejecting the fears
that the labor trouble, while inaugurated
amongst the soft coal miners, would in
vOlve also the anthI acite regions A
strike of the dimensions threatened would
he too serious an Influence on general
conditions to be ignored in a speculative
prospect for sustaining Prices at an I'M
usually high level. Speculation was in
clined evidently to halt or to proceed with
caution.
The failure of confirmation of the many
rumOrs Of important deals proves trying
TO the speculative temper owing to the
very large share played by such in the
most aggressive advances of the recent
past The prospects Of the money mar
ket also are regarded as not calculated
to foster an active speculation.
The Inauguration of an outgo of gold is
generally expected to occur later and to
reach considerable proportion. The small
engagement today for shipment to
South America is evidence Of the control
or gold supply in this market by for
eign bankers. Meantime the credit re-
qu1rementS are expanding the loan de-
paTtment of the banks, and the influx of
cash from the interior is likely to become
less rs the seas on advances. Sub-treas-
ury operations also continue to make large
inroads on the supplies of the banks
The Wabash and the Hartman Pacifics
made good shOw1ngs of net earnings to-
day. Attention is called to the fact that
since the first of the year new bond is
sues have reached the sum Of nearly 800
CO0.OO0. of which nearly 100000 are rail
road issues The demands thus indicated
upon capital throw light upon the course
Of the loan item Of the banks. The Hill
roads made ready Roadway against de-
preston and the Hartman Pacifics were
helped by their December earnings and
by the report that Union Pacific had &C
quired control Of Illinois Central The
recovery in the general list was at no
time complete and met with frequent re-
actions. The closing tone was rather
easy but not much below the best point
of the day.
Bonds were heavy. Total sales, par
value, 100000.
U. S. bonds were all unchanged on call.