The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-06
!. .REAT CHANGE
I CLOSE OF THE CALL
Scaled Down, While
+, Have Been Largely
Increased.

llS iiilii hSsNc NsNha 'SA .
tural advantage OF the news
Ehamcnt of the labor dispute with
was in sight and that strike
tyerted Dealings In Reading
Enormous scale and with con-
effect on the gen
encc was not sufficient. how
Id the general list in face OF
other factors which came into
early weakness In st. Paul and
fcntral was traceable to the de-
~ in the struggle for railroad
FAfion. The movement In st,
HAgarded as symptomatic or the
Ahd OF the financial groups most
hcerned In the Presidents ar
bf the Standard OIL company.
of New York Central was con-
the finding of an Indictment
Tho unsettling effect OF
mes was generally overcome
ng began to shoot upward. An
me started after the appear
bank statement,
of stocks have a keen appre-
he enormous extent TO which
The stock market have been
during the week. That the
|Hfhe loans of the banks should
Increased for the week 81, ,S0O. 400
king exhibit OF the heavy re-
ce0hich make the withdra wal OF
kLV the stock market necessary
hn ,sans for meeting them, A de-
|,,lcash holdings OF A.S2, 200 was
|NElYith preliminary estimates oil
F.--om 5.O00. 600 to over $1,000, ,0OO.
like of cash by the trust COM
lid up their reserves In COM
the new State law were
Csponsibility for part of the dis
similar discrepancy in last
e Statement which should bring
over into this week, the loss
last week being less than n
Pp hrs when the known move
Fn toney had indicated a loss OF
|v110pO. Furthermore, some OF the
neagements Of the latter part
owing to delayed accounting
treasury operations, have not
|1s week. bank statement Tho
|H0re statement on the market,
was unfavorable and the
~ 2 Irregular, In spite OF the re-
! h1nce at the last In the coalers.
Gi of bonds, par value. 81, 600.
p y been a drastic liquidation OF
ng during tho week and great
Fe-slted TO quoted values and an
| i1shrinkage of tho basis OF
PISS movement was accompanied
be- disorder and confusion, owing
|pkfcy OF the operators TO sell and
|lsa.1ime of some OF the individual
Z own upon the market There
X Ices of the relief afforded by
Is before the week was over. but
Ek 7 the speculation continued
Esu anxious. owing 10 fears that
Eoa5y 9quldation had not been
|; a The larger part of the liqul-
1 kiLttributed 10 over-eXtended In
EA,ulations and TO market pools
lE Ations which had undertaken
n |f'nnarket for special stocks and
|asIiscepting offerings at the mar
|od attempting TO bid up prices In
ID ld large selling, thus becoming
f-1eyond their capacity to carry
OF these important ele-
rS1e speculative situation from
-ytexigencies OF tho money mar
Ii 1.-The stringency of December
h, GEMS TO have been due TO tho
A. ces with which they provided
a: IN time loans running beyond
- normal strain In the money
- ds supposed that many OF tho
|s,1I1 secured have been maturing
:, the borrowers were left In a
| y, JsItlon by the unwillingness OF
renew.
ns ssctor was the unstable condi-
l. u In the stock market IN Sc
h figured in the collateral for
|r~r< al.
|als. lomplicated the situation and
siIzyo pools had no other re-
-. % liQuidate their stock-hold-
PIP ,tdnesday the sales OF stocks
~ rly $500, 900 shares and the
FIS IS was so violent as to create
|aD5 not unusual, however, In q
bee Jrisis, the DaroXysm proved
b, e. ..on for the time being and the
& Fading showed the relief af-
kee operation.
b As3 compllcating factors have
sf1the weeks speculative. opera
|h7 Eliminating influence has been
Il E,tuatlon The immediate aG-
| EH5 use is recognized To be tho
|ast.5o losses. But the small ef-
Tx = hroduced by the prompt and
/ q 81 gold 10 New York points
6 icig causes for the present
|bleS ital resources. The first pres
Isl ~ came naturally upon the
trket and go far as specu-
s5tt3n IN stocks was at fault a
Eh9 Hbeen taken towards correct
|re ft the general conviction In the
ThSTlct. however. that the huge
anls sion In other dealings lies
|ssy. movement of replcnishing OF
|nr< tFves In preparation for the
~ requirements which are seen
La, S carrying on of enterprises
6slr31rked upon and dependent for
r. a supply OF funds 10 COM
|.,-s6s Great creations OF new cap
f5nt guec or In contemplation, af-
j. sfrest Index of these require
|w.,s-tsat expansion OF bank loans
:, lover points conclusiyely TO
| OF similar conditions in the
Y as a whole The problem OF
20 .raireQuirements OF tho fall OF
- demands for collections ap-
~ ny TO bankers before the San
fns ises prccipitated an active
g problem. There are not lack
rs OF relief amongst bankers
s." mpted speculative campaign
|oa proved aporIlve from tho
~ -<tndzaroS or the call money
|s Bl>h We're foreseen.
Sy(lnnow of the incoming Tide
Of ie freedom from obstacles to
s.re In foreign money markets
|rr for the resources supplied
sire |cisco's immediate pressing
49, by foreign insurance COM
IL yf IRE losses are believed TO
|oaN c2n the gold movement. Re
|sd q 70 TO some important abgorp-
| SS can securities for foreign ac-
[,orts ,ery largo borrowings Of for
Fss q yaye also been made. which
n ~ the account for future set
|, ,Stt huge accumulation OF cash
rs Pn made at San Francisco ia
~ ~ necessary preparation for
~ I'm of banking there. which
p' ~ be followed by a rush Of
al iepositors.
rs yonstration OF ability TO meet
p flt Is expected that there will
pcr laxation OF tho demand. ow-
e ~ tck OF other resources for
pbu poait In the banks. A return
~ ncy from San Francisco is
| OK FOLLOW. is
- was laid in the latter part
..->1pon tho report OF tho Com