The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-03-25

CLEARING DECREASE In
THE PRINCIPAL CITIES
Fear of Coal Miners Strike Is
a Factor in Producing
Dullness.

NEW YORK, March 24.-There was
very slight interest shown in today's
stock market. Trading was listless and
the price movement was very narrow.
with no well defined tendency Reading
was Irregular, with fluctuations ranging
TO point below last night. followed TO
less extent by the general list The
market lacked the stimulating influence
which came from Readings strong ad-
vance yesterday and was inclined to sag
Last prices of the week In the majority
OF active stocks are not materials, al
tered from those OF last Saturday al
though there have been considerable
lluCtuations during the week.
Inc evident disposition to return to
nNeu level is thus demonstrated. con6rm-
ing the conclusion as to the almost ex-
atlons. The bank statement showed no
changes sufficient TO alter the uncertain
Keeling over the money outlook he
slight recuperatlon in The banking posi-
ton offers small margin for the acquire
ments for the April lst settlements.
Bank clearlngs for the country az
whole again show slight contraction foi
the week compared with last year, the
decrease being more than accounted for
by New York City clearings The total
sales of stocks for the six business days
ending Friday numbered S.621 i9S shares
corresponding week of last year. The par
value of $40, 79l 600 bonds sold In the same
period also represents only half the vol
ume In the last years period The de-
cline In bank clearings is thus closely as
ISOLATED with the subsistence of clrcula-
ton. Outside of the seven principal cities
the weeks clearings show a large H.
crease over those OF last year There
was nothing I'm the days occurrences to
indicate any change In the money and
exchange situation. The stock market
closed intensely dull and irregular In tone.
075Od0
Operations in the stock market during
the week have been small and uiiimpor-
exceedingly irregular. Business was In
the hands of the smaller class of prnfes-
sionals and the market has demonstrated
the futility of such operations to effect
any substantial alteration In the level OF
values
Tho factors holding tho market In re-
straint were much the same for some
time past. The few developments affect
ing these conditions were not sufficient
to remove existing doubts, and there was
a continued paralysis OF any effective de-
mand. Tho market was free. however.
from any urgent liquidation The conSe-
quence was the constant tendency OF
prices to return to fixed level
Money rates have been lttlo changed
during the week, but the light demand
for funds for speculative purposes is be-
leved to be responsible for this In part
The engagement OF gold In Berlin for ex-
port to New York. suppemcnting the
previous small enga ageInentS in London.
has been OF small influence OH stock mar
kct sentiment.
Tho ruling prices OF exchange failed to
explain how any profit could be afforded
on the transaction as purely exchange
operation and the belief that conditions
were forced to effect 1t deprived 1T of a
beneficial effect on sentiment The re-
ception accorded the news OF tn eintended
i9Su of 500 Coo O0n new.
New York Central stock indicated an
other factor In tho conservatism of the
market Tho enormous new capital Issue
since the first Of the year have been much
discussed In Wall street rs threatening a
possible glut Of new securities Most OF
these new Issues hitherto h9ve been bonds
and tho largest effect has been percepa-
bic in the bond market. This market is
! lethargc demand for old issues owing to
| the displacement of demand by the newer
| candidates for favor. The same effect is
| feared in the stock department MS con-
| sequence Of so large an addition, al
though assurances are given that the In
tended new Issue will be offered In mod,
crate installmcnts and at considerable In
tcrvals OF time with privilege to stock
| dolders 10 subscribe at phr, constituting
| valuable rights at the existing market
price for the stock.
| The undetermined question Of Goa
| miners strike In the anthracite OF bl-
| luminous regions. or both, the continued
| halt In the iron trade. less favorable COM
| parlsons OF railroad gross earnings with
| last years period contribute to the poor
| The bond market has been duh and lr-
| repuiar United States new As advanced
| u per cent on call during the week.