The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-07
LITTLE FISH IN
FULL CONTROL
Heavy Operators Have Dropped Out
of the Market for the Time
Being.
SALES SHOW FALLING OFF
CLOSING WAS EASY AT LOWER
PRICES.

New York Feb. 6.-The stock mar
ket gave further evidence today Of its
lapse into the hands of professional
operators of the smaller class. 1t is
now evident that the transactions or
iginated for the most part within the
walls of the exchange. The inclina-
ton was to close up transactions dur
ing the day, the result being later
retracing Of earlier advices. The sales
for the day agai fell below the million
share mark, thus putting an end to a
series Of one to one and a half million
share days extending without inter
ruptiOn back to the first week in De-
cember. This is claimed as a record
period for the maintenance Of such
great activity, exceeding by several
days the great bull market of the
spring of 1901 and also that of 1904
although the great record days Of
these movements have not been ap-
preached at any time during the move
ment now eliminating.
The narrow dimensions of the mar
ket deprived it of any great signifi-
canoe in its bearings on larger con-
diticns. The recovery which set in
during the latter part of yesterday
was extended in the absence of ObSta-
cles in the shape of renewed Iiquida-
ton. But the demand became more
.
and a hesitating tone developed at the
higher levels. Such activity as there
was centered largely in special stocks,
and the strength shown by these had
a notable sympathetic effect on the
general list. The Hill railroads once
more rose notably upon the repetition
Of long familiar rumors Of the disposal
Of the Great Northern iron ore lands
on advantageous terms to the United
States Steel corporation, the common
stock of the latter sharing IN their
strength.
Union Pacific showed its usual bene-
fit from a rise in prices from Great
Northern preferred. Tt was also af-
fected by the conspicuous advance in
Illinois Central, which was attributed
to the rumOrs Of absorption in the in
terest Of Union Pacific. A widespread
erect in the market resulted from
these prospective movements. Read
Ing was another conspicuous feature.
and its sharp rebound was due to some
subsistence Of the acute apprehension
felt yesterday regarding a general
strike in the coal trade Sentiment on
this subject today took upon the form
or uncertainty and uneasiness rather
than the conviction felt yesterday that
the strike was inevitable
Some Of the earnings reported nv
railroads made a very favorable show
ing, partly owing to the fact that the
first week Of January this year has
only one Sunday compared with two
IN the last week of last year.
Southern Railway reported an in
crease in grOsss earnings for that
period Of 81 per cent, Chicago Great
Western 26 per cent, Colorado South
ern Il per cent for the month of Jan
uary; Great Northern % per cent and
Illinois Central 9 per cent. The reg71-
lar dividend on Canadian Pacific dis
appointed some spec uIative holders
who sold the stock, with consequent
weakness.
The price of copper was lowering in
London and here, but AmaIgamated
copper was in concert with the rest of
the market. The sub treasury CON
t1nues to take funds from the money
market, which was firmer for time
loans today. Prices of stocks Welded
easy to the professional proft-taking
OF the latter part of the day. The
closing tone was easy, and the earlier
advances were unchanged.
Bonds were steady. Total sales mar
value, 1925, 00O f''''
u. ,. bonds were unchanged on call
Stock Quotations.