The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-27
STOCK EXCHANGE
IS DEADLY DULL
Aggregate Sales Fall to Smaller
Figure Than for Many
Weeks Past.
HILL ISSUES DEPRESSED
RALLY AT THE CLOSE, WHICH
WAS STRONG.
HILL ISSUES DEPRESSED

New York, Dec 26.-The financial mar
kets were almost bare of incident today
and trading in stocks was intensely dull.
The aggregate sales for the day fell TO 9
smaller figure than in many weeks past
The London stock market did not resume
business, as its holiday extends over until
tomorrow. This deprived the local mar
ket of an important supply of business. A
part of the American accounts have not
been settled yet in the half monthly adj
tustment going on there, and New YORK
feels an interest in the termination OF
the Bank of England authorities at their
regular meeting tomorrow on the ques-
ton of changing the discount rate. Their
action is believed still to be dependent on
New York keeping hands off the London
gold holdings. Sterling exchange made a
further decline today and profit was m
Dictated on gold taken in London for ship
ment to New York, but New York bank
ers still refrained from awaiting them
selves of this opportunity and the opinion
persisted that the Interior consequences
which would flow from such action made
it expedient. Prices were inclined to ad-
vance In the early dealings in stocks here.
The market was free from any urgent
pressure of liquidation and there was suf-
ficient outstanding short interest to af-
feet prices in a rising direction. The
money market also appeared tranquil dur
ing the early hours of the trading
From per cent the rate ran off to 6
per cent and It was only late in the day
that the rate rose again. The formidable
demands to be met by the money market
to effect the January settlements un-
doubtedly had a restraining effect on
market activity. The total of these re-
quirements run from $15G, 100000 to $780,
e00.000, according to estimates resulting
from a canvass by various authorities IT
is not expected that this drain will be met
without a furry in the money market.
and operators in stocks apparently prefer
to stand aside until the reflux of these
funds to the market begins to make itself
manifest The presence of Secretary
Shaw in town had the inevitable effect
of causing talk of renewed assistance for
the moLey market by the treasury de
partment, but this received no official
sanction The sub-treasury had COM
menced to draw on the cash reserves of
the banks again, the effect of the treasury
relief measures being exhausted. There
was a premium on New York exchange
AT Chicago and a return flow of cur
rency from the interior is expected TO
set in.
The stock subscription rights to stocks
given recently were affected by the sun
of the Minnesota state authorities to en-
Join the new issue of Great Northern
stock. The two Hill stocks showed de-
preston throughout and their growing
weakness had an increasing sympathetic
effect on the whole list. 1t has been as
serted that the hasty method which fol-
lowed the issue Of st. Paul stock had in
view the avoiding of threatened proceed
ure of this kind The early strength
showed principally in those stocks IA
which recent sharp declines would have
served to build up a short interest There
was some buying OF Amalgamated Copper
induced by the advance in the dividend
rate on Anaconda. The break in the Hill
stocks and the rise In call money weak
ened the whole market. but there was d
final rally and a strong closing
Bonds were irregular. Total sales, pal
value. s2.316.O00 United States bonds were
unchanged on call