The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-02-04
II YIELD TO
'5TR|KE DANGER
SHye Position of Stock
Yet Develops Acute
Weakness.
S;N ELEMENT
leads IN THE SELLING
:sed Given to Generally
Song Conditions of
\ Industry.

Eu luuuSti
|Ee DIRK. Feb. S.-The speculative
mt rho market developed acute
- again today and prices yielded
ntthrough the list Deep inroads
.. a I'm the case OF some OF the
q favorites. The nominal mo-
~ selling was the danger OF
3; Hoal miners which is brought 10
Mon by the rupture of nesotia-
settlement between the miners
Dttors at Indianapolis.
,jnsion over the outcome was led
ssa advices from Western sources
Sled by large ceiling orders from
koStern speculative element The
uS steps toward a strike In the
Tux building trades increased the
-Iof the consideration given 10 the
E>,look. The sensitiVeness OF the
|ltb those developments, I'm view OF
|,ous published reports of the pro
|king toward them. was proof OF
rabie position OF the speculation
BIN short interests following The
actlon OF the carly part OF the
kak hank return also was fore
IA. was an element in the weakness
Aock market. although the bank
las not Just what was expected.
Loco decrease I'm cash was much
III expected. but the expansion Of
a tom by SIG 25l. 500. In the face
~ large liquidation supposed TO
zen place I'm the stock market.
ilsappointmcnt. The net result
tcdecrcsse in the surplus reserve
Ou.H, T02 225.
0sSIding OF foreign exchange rates
0T1se I'm selling exchange at Paris
hsnditions away from the gold cN-
fslt. The adoption Of a measure
ntrench Deputies. authorizing an
|Qtin the note circulation of the
clFrance, WAS bearing upon the
l5kor the movement of gold Tho
IIIFrance refrained from Offering
Izs1fs for securing gold in the re-
d owing 10 the fact that the au-
limit OF It's note circulation had
azlned. leaving II no advantage
increase Of gold holdings.
leyere some rallies from tho low
O. of the day, but the closing tone
ht5 for the day.
hles of bonds. par value. sl,5o5, =
tsck market this week has been
l>l TO a shaking out Of weakly
fT sulative holdings. which broke
= lower level with some Yio-
rebound followed and the up
5yement was aggressiVely re-
some points. The recovery was
le 10 feeling of relief at the
A some speculative movements
Xl become reckless and dangerous
Me- that held a threat OF damage
lparkct
rnged and notable advance In
gVioTtant stocks had been effected
X ions by organized parties In the
IN. possessed Of enormous re-
Egnd credited with intimate lSnowl-
-athe affairs of the company in
ecurities they were operating
E)vements were taken up by the
es In the speculation with re-
~ewly acquired out OF speculative
those Information was not trust
those plunging methods OF mar
.-tions were regai ded with appre-
~ Former holders Of the stocks
y their new demand SO freely as
trass the attempts 10 advance
EN
1.-the market became unstable
E,al additional margins Went out
l-uld not be met. The spasm or
luidatIon Of tho early part Of the
,ts the consequence.
FrswaS tttle news bearing upon
account for the rush 10 sell
- great strength OF the general
y served To attract renewed buy
he lower level OF prices. The
Of an uncovered bear interest
,ad sold stocks bought eagerly
idcclinc. helped the rallies. which
Gent at some points The mark ct
F-ough reAdJuStment in this way
-fed the usual ~avoring and un-
tendency I'm perfecting the pro-
mtinued showing of prosperous
" In the country did not prevent
--nward course OF prices. the re-
nigh earnings OF railroads In De-
kHEhich came To hand and the cx-
ry financial showing Of the
states Steel corporation for the
quarter being regarded rs fac
Y1fh had already had their influence
uf past movement Of prices. More
ms produced by the record figures
1ulled order on hand on December
[E Omitted states Steel corporation
1ex was thus furnished OF the
qctivity In trade at profitable
tpr a period running months
Ifith the promise OF stimulating
an lines of Industry. which is
XHnpon irom prosperity IN tie iron
trade. The unusually mild
has Injured 10 the benefit of the
By saving the expense OF snow
and the high operating cost
ly storm construction Account IL
VowHver OF the decreased demand
ne Kinds of winter merchandise
w caused by the unreasonable
[Dstreet is disposed also to keen an
q eye upon the winter wheat crGp
tnus far received fail TO iudIcate
mage from the open winter. But
rcoent OF former years makes Tho
|1 subject Of some anxiety ON
Sne ruture course or the stock mar.
'eheVed To hinge Ia very large
Pparent scnsitiyeness of the stock
rto the resolution of the House al
gton calling for Information bear.
IN inc legality OF the Pcnnsvlya
i1tiohs with subsidiary comDanIes
{,Duleo mostly 10 tho unstable and
PIC position In which the market
N placed by excessive speculation
incident served to renew atten.
the possible effects on corpor;,
w iesislation now being pushed n,
qay oc brought forward
movement TO investigate the New
;tate Banking department arouse,
,rsn OF repetition OF The cnect.
'iie insurance investigation hy y
81 extension OF an inquiry into th,
oi the New York financial IustI
Whieh might have a dlsturbIn,
public sentiment. Additional aiF
WAS directed TO this field by IN.
<fSSinarks of President Fish of I'm,
rshtral upon the ills OF too fcv
sng undertaken 10 manage 10,
porations His illustration wa,
olrcctorsl1ips held by ninetv-tw,
ll trustees Of the three great IIf.
&c companies before the recent re
s,ose inter-rclations OF the prcn
institutions In New York come
nuch discussion In its relation I,
az loans which were extended {,
AZ rpt