The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-15
nor IN Stocks
/ COMES At LAST
riod of Rapid Advance Was
Ended in Trading
Monday.
'GREAT DEPRESSION
is AS YET LOOKED FOR
|ney Market Is Expected to
Remain Easy for Some
Time.

Inv YORK, May 1.-THE carly stool
ket today gave no evidence OF {
ree from the advancing tendency o.
week, but before the day was over
starly defined reactionary tendency de.
ned. An explanation which seemed
/, icient to satisfy the professional trad.
NEW was that the recovery from the
ession from the San Francisco ca
,jty had run Its due course
ofesslonal traders have been feeling
; Liza top OF the market for q number
l|ays making the tentative short sales
10 was no striking new development
he situation today to warrant q re-
1u Of positive depression IN the specu-
~ outlook, but with the turn In the
,rLlcn OF prices there was an lneHta-
mango III the temper OF the specula-
and some revival OF consideration
gwen TO a number OF factors which
prominent at the time of the down
4 course in prices,
b news of u large temporary loan
be Pennsylvania company and the re-
N current OF high rate OF interest
ID paid on the loan called renewed at
lon TO tho heavy capital require
IS yet to be met In the money mar
relaxation In tho money market
wing the enormous sudden demand
cash preclpitated Dy the San Fran
losses has served TO build up a SAN
ID feeling among spectators that an
nnitc period of ease In the money
ket Is assured. The Pennsylvania
llcing recalls that many important
.tcts have been awaiting more advan-
0us terms In the money market, and
u may be brought forward to take
ntage OF any relaxation In money
'<1tern news dispatches this morning
4 large space TO the extension pro-
III by the Great Northern railway,
/ mention Is made, also, OF plans by
Unlon Pacific for lines into new terri
The St Paul extension to the Pa
lis known to be actively under way
'eArly Issue of part OF the 500, 600
lcw capital authorized by the New
4 Central Is expected, There are also
. holdings OF railroad bonds already
10 and still In first hands, with re-
uE heavy loonS from the banks to
y Them, which arc expected to come
\ The market with any Improvement
ne Investment demand
:ofher incident OF the day which af-
9krSuidliHc sentiment unpIcdSdnl-
us the reduction In the dividend by
Parrott Silver and Copper company,
DOT subsidiary company of the ANAL
'Fcd Copper company. This operated
1ferrupt very heavy speculative buy
~ the copper group. based on the eS-
ndyance In the price of copper
II and copper mining stocks In Lon
The strength in this group was be-
E5ec as the malnstay OF the market
pid y against the selling to take
which was going on at other
'cn the copper stocks gave way the
market yielded News OF general
lions continue uniformly favorable
railroad traffic officials reported
|tne slight hesitation manifest among
1uants after the San Francisco ca
~ had been dispelled and with 1t
tear that business reaction was i'm
ing In the country.
fcS Tor money continued To work
and the London market was cheer
Irer the prospect OF declining money
There, the Bank OF England having
"a all newly arriving gold In that
country's April exports of agricul-
products showed an Increase In
OF $l2, 1900 over those of the pre-
~ April The downward drift OF
o1 stocks continued through the
poon. and the closing was heavy,
ioniy slight rallies
IEs were firm. Total sales. par value,
tSd States bonds were all unchanged