The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-04-10
NO0D OUTLOOK IN
STOCK MARKET
Not Believed That Coal Strike
Troubles Will Be of
Long Duration.
CONDITIONS GENERALLY
HIGHLY ENCOURAGING
Millions of Securities Are
Awaiting Spring Boom to
Be FlOated.
Special to Fhc Tribune.

Special 10 Fhc Tribune.
NEW YORK, April 9.-In view of good
general business. good earnings and an
auspiclous beginning for the crops. the
belief that the spring and summer stock
market will be a good one seems 10 have
a sound basis The intermediate trou-
bles to be gotten over such as the coal
strike. for instance, almost always
present In some form or another. About
four-lfths of the time, year in and year
out, the market is described as waiting
until some disagreeable factor is out OF
the way. Beyond this the prospect
seems TO be dominated by individual
ragartes OF selection and individual ap-
praisals OF the value of properties as
compared with their present market
price. Every stock on the list has It's
chronic bea. who expects To see II bank
its chronic adherent, some man who be
llcves In 1t thoroughly. and who. no mat
ter what is the price. can never be per
suaded that it Is sufficiently high.
Strike Is a Figure.
While conditions in the general busi-
ness world outside OF the coal situation
are encouraging, all discussions OF the
future of business should be qualifed
with the consideration that In the event
of prolonged disturbance In the coal nelGS
the Industrial activity OF the country
may be checked. The idea Is growing,
however that. owing 10 the tremendous
Ing will not be permitted TO continue Tor
and length of time, and that way VIII
be found TO settle the differences between
the operators and miners before the gen
eral business OF the country has been
adversely affected.
Expect Easier Money.
Banking interests in close touch with
the situation expect easier money after
the April disbursements up to August,
though not looking for any radical de
cline in rates. Already there is a ten
dency manifested In that direction which
Will be accelera ted should European
credits be released TO any large extent
il is inferred in some quarters that the
gold movement to America Is fostered
by large financial interests in order to
help the investment market by creating
lower money rates. So long as money
could be loaned time at over per
cent It was hardly to be expected that
bonds would be purchased on a 4 per
cent basis. and the prevailing stagna-
tion reported by dealers Is only natural
of the investing public TO purchase re-
cent notations is the small amount OF
new issues during March, which agere-
gate only sS6 coo 0C0. comparing with S2T,-
Would Float Securities.
The attempt Of stock market manipula-
tors to create a spring Boom touches a
responsive chord in financial circles still
tied up recent underwriting, 10 say moth
ing OF prospective offerings which they
have In mind. Railroad and industrial
corporations only await favorable op-
portunty TO place millions of securities
spect being the New York Central tho
ST Paul and the Pennsylvania. At the |
present time a s50.oo0000 bond Issue is be-
ing underwritten by the Hudson * Man |
haitian Railroad company, which is con-
structing tunnels under tho North river.
Sentiment Conservative.
For some weeks commission house
sentiment has been decidedly conserva-
tive. with the result that outside busi-
ness Is a small factor. Customers ac-
counts have been scaled down In conse- |
quence OF the decline from the January
boom fully one-half this fact being indl
ing houses. The satisfactory outcome to
the AlgeciraS conference. which threat
ened 10 disturb International equilibrium.
facilitates return OF confidence, while the /
early adjournment of legislatures makes !
in the same direction. Few brokers ar |
que that stocks are cheap. and yet the !
majority feel that an upward campaign |
Of moderate dimensions can be SUCCESS
fully carried through before the enervat- !
ing effect OF summer makes itself felt.
Suggestions that Europe would play a |
prominent part I'm the New York stock |
market. which find their basis In recent |
purchases for Holland account, should !
not be given too much prominence. since |
the proposed s2J00OO.0)0 Russian loan and |
the $l6o0O0OO0 French fiotation will con-
sumo large part of the surplus invest
ment cash abroad. Moreover, as indi
Gated by the sale OF 500 go bonds OF the |
French-American Investment company. |
formed by the Speysrs. Europe will pur- !
chase our bonds rather than stocks
Anticipate Big Profits.
Large operators fresh from their winter |
recreations have been taking on lines OF |
stock In the expectation OF turning them
over at a profit after the April dlsburse-
ments find their way into circulation. |
The ught-heartedness with which specu-
lative plungere have gone ahead in their
plans regardless Of the possibilities OF a |
check to business would Indicate that
this element do not take the coal s{tua-
tion seriously. Their confidence is doubt |
less based upon the fact that the anthra-
cite coal roads have some 100000 tons
stored sufficient to provide for the re-
quirements OF the next few months
The uptown clique OF spectators look
for firm market in the immediate fu-
ture, with substantial advances a little
later on