The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-08
WALL Street IS
EXTREMELY DULL
Ticker at a Standstin During Part Of
the Day and There Was
Nothing Doing.
STOCKS IN SMALL DEMAND
SOME APPREHENSION OVER
MONEY OUTLOOK.

New York, Feb. There was further
falling off Of business at the stock ex-
change today and the general list fell
into condition Of neglect A flip OF
speculative activity in a few of the re-
cent favorites redeemed the market
from q condition of midsummer dullneSS
AS 1t was the ticker was practically at
a standStin at some periods Of the day
when the trading took on a Semblance
Of Stagnation. An incident of the lapse
into dullness was the inertia Of prices,
the leveling into the neighborhood OF
last nights closing, with growing dis
inclination to move at all as the dis
lance was increased from that level The
narrow vibration of the market was re-
peated several times during the day re-
covering the hesitation of the speculative
sentiment and the withdrawal from the
market of the operators with large re-
sources There was no marked evidence
or depression, but there was equally an
absence of demand.
Less apprehension was felt over the
outcome Of the wage controversy in the
coal fields, and that feature ceased to
induce any active selling of stocks But
II is realized that the definite decision
of the question Of a strike must remain
suspended until the outcome of the con
SITUATIONS arranged for next week in
New York. Until that definite outcome
the uncertainty Of the matter is ex-
pected to exercise a repressive influence
on speculation.
This probability had as much to do
as any one thing with the unwilling
ness to make speculative commitmen ts
IN the market. The outlook is for an
other poor bank statement on Saturday
and, with a holiday following on Mon
day following. the inclination to defer
speculative operations is emphasized.
The sub-treasury's absorption Of funds
since Saturday rose to nearly 5000 900.
according to today's statement of opera
also amongst bankers that the last Sat
urday's bank statement understated the
decrease in cash. which makes it prob
able that the effect viii be thrown over
INTO this weeks statement under the
working Of the system OF averages
Foreign exchange continues to rule
firm, and the report gained circulation
this morning that gold had been engaged
for export to a large amount. Stocks
weakened upon the rumor which proved
unfounded. however. Discounts were
firm in London and Berlin, but eased
slightly at Paris. The expanding ten
dency Of bank loans here is attributed
partly to the recall Of credits placed
here by interior institutions while mon
ey rates were high. The present period
OF the year, however, is one of normal
loan expansion, owing to the custom of
deferring large financial operations to
this season, when currency is likely to
be flowing back to reserve centers.
The likelihood Of requirements upon
available capital for intended financial
projects comes in for consideration in
the money and banking outlook The
few movements of any note in today's
market were due to special causes
Those affecting the Hill railroads and
the Pacifics are well understood. Anal
gamated Copper was subjected to some
pressure, presumably by the yielding
tendency Of the prices Of the metal. The
closing debate upon the railroad rate
regulation bill was regarded with Ian
guild interest because of the general con-
viction of the passage of the bill The
easy tone at the closing owed something
to the weekly review of the iron trade,
which reported the market generally
quiet and in spots easier.
Bonds were frreguIfs. Total sales, par
value 81. 1850
United States bonds were all unchanged
on call