The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-08-28
ST. PAUL IS NOW
SOARING ALOFT
New Record Made by the Stock
During Yesterdays SeS-
sion of the Exchange.

New York, Aug. 27-New high records
We're registered by St. Paul and Atchison
IN the course of today's stock market
which was for the most part irregular
ana dull, rejecting further profit TAX
ng in the Hartman issues and other
STOCKS whose recent advances have been
most meteor1c. AtchiSons high water
mark was attributed TO the returns for
that system for July, which show a net
increase of $4,000. The lists tendency
towards heaviness reflected disappoint-
nIeit SHOWN at the failure of our bank
ers 10 secure even q share of the South
African gold landed i'm London AS n
matter Of fact all the days known de-
Eeiopments suggested an absence of any
from TINS quarter. There was little
change in the foreign exchange situa-
Ton, although the rate weakened some
more later In the day and the only in
IeTeStihS feature regarding this phase
was the announcement of an engagement
or 100000 Australian gold. which will not
De received here for some weeks
inc days trading was below that Of
recent days and was again largely linn
tied to the same stocks that made up
the great bulk of last weeks remarkable
REORGANIZATION and Southern Pacific,
AtchiSon, st. Paul. Reading. United States
steel ana Amalgamated Copper. To this
very small list might be added Sugar.
when was pronounced feature of the
early trading by reason of its sharp adj
vance on relatively larger transactions
after a protracted period of inactivity
Sugars dividend time is approachine and
II is not unlikely that today's movement
was an attempt to discount that event
Money conditions manifested no mate
rial change. call loans opening at So per
cent, with an increasing demand for and
a reduced supply OF time accOmmoda-
tons Nevertheless, conservative banking
interests profeSSed to feel more at ease
regarding the outlook basing their homes
on the belief that the banks of the west
ana southwest are preparing TO do much
OF their own crop financing; also that
the government will continue IL occasion
requires, TO replenish the money supply
at interior points.
Western advices show that the outlook
as regards the railroads continues very
bright, earnings, as instanced i'm Atchf-
son, running well ahead of last year.
grain showing an increase of 20 per cent
with mercantile prospects especially prom
Using. All the eastern roads are being
taxed beyond their carrying capacity.
traffic being far in excess of moving ia
clities
Persistent selling of the active list be-
gan to show in the general decline in
prices early i'm the afternoon. The fea-
lures of greatest weakness were ST
Paul. Smelling, Chicago 81 Northwestern
Union Pacific. Northern Pacific and Unit
ed States Steel. while a number of spe-
cialties registered matked recessions. The
movement was accelerated by selling from
London, which reported sharp declines in
Russian securities. The closing was weak
at about the lowest prices of the day.
Further weakness was shown in foreign
exchanges, which declined to 4.S45O Just
before the markets close. the lowest
point Of the present movemnt Note
worthy railway returns of the day. be
sides those of AtchisOn, were Louisville
& Nashville and Southern Railway, show
ing gross increases for, july of $4,000 and
1923 900 respectively.
A drop of 2l2 in Cuban bonds reflected |
the troubled condition of affairs in that
Bonds were easy. Total sales, par value, !
S., 10000
United States bonds wsre all unchanged
on call.