The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-04-17
mot MUCH DOING
| IN WALL STREET
Trading Was Active Only Dur
ing First Hour of Days
Business.
RELIEF MONEY STRINGENCY
SOMEWHAT DISAPPOINTING
Bulls, Who Counted Upon Big
Advances, Are Losers in
the Game.

NEW YORK. April 18,-The general de-
mand for stocks today. prompted by last
weeks important developments in the
money market, on the whole proved mod
crate. Trading was active during the fret
hour OF the stock exchange session, but a
large proportion OF the days total husi-
ness was transacted in that time. Neither
was there any important addition TO the
price advances after that time. and In the
final hour they were generally lost. This
was something OF q disappointment to the
speculative element, which had counted
upon q decided revival OF speculative ac-
tivity with the definite breaking OF the
stringency in money.
The fact Of the breaking of the strin-
gency was undeniable and no further APP
prehension OF immediate scarcity OF
money was heard expressed. The moder-
ate effect on tho stock market OF this
long hoped for condition was the failure
Of widely varied conJectures. The con-
siderable advance OF the latter part of
last week was regarded as having dis
counted the favorable change In the
money sitpattoa te-sJm degree The fact
Holiday today left open the question as
TO what effect would be produced both on
the stock market and on money rates
In London as tho result of the forced
|. Withdrawals of gold from thero for New
York account
An unfavorable effect on the London
money market might have reflex ef-
feet here In spite OF the direct benefit to
New York of the gold supply secured.
English newspaper comment on the sit
uation gave evidence of some apprehen-
sion nS to the results In this weeks en-
gagement made on Saturday too late to
be reported.
Today's statement OF sub-treasury oper
ations with the banks showed a loss In
oh hZr hn lY-1ny n.411f Inc tNfi n
N3,9l9.0O making total loss thus far
for the banking week OF S16.SS6,GN. This
is due CT course TO the deposit OF Gov
ernment funds with the banks against en-
gagements of gold under the plan Of tho
Secretary of the Treasury announced
Saturday. This gain by the banks will
figure In next Saturdays bank state
ment. Under the Secretarys plan how.
ever, the banks receiving these sums VIII
cover them back into the sub-treasury
upon the arrival of gold.
THE strength of the Saturday bank
statement Is thus seen 10 have been
achieved without the operation of the
new plan for facilitating gold imports.
Quotations on New York exchange at In
flow of currency to this center which get
In last week was still In force There
was very active discussion in banking
circles OF the new plan of the United
States Treasury measures to stimulate
gold imports, In stock exchange circles
the fact q new precedent had been set In
the matter In causing an undercurrent
OF apprehension that conditions In the
money market had been more serious
than commonly supposed TO prompt such
a departure from established custom.
The decision of tho governors of the
stock exchange in keeping open the ex-
change on Good Friday, contrary to Gus
tom, lad something OF tho same effect
on sentiment. The show OF strength In
todays market was most noticeable IN
industrials and specialties especially In
those not first grade The fixing OF Thurs
day for the dividend meeting on Anal
gamated Copper induced active specula-
tion In that stock on the expected rise
Forced selling OF Butterick Publishing
company broke that stock IL points, the
decline being attributed to fear OF losses
by tho printers strike. Foreign eI-
change was strong. but call money
worked easier during the day. Prices of
stocks however, continued TO recedc from
the early rise and closed easy and gener-
ally at net losses.
Bonds were irregular. Total sales. par
value, s2030.000. United States bonds
were all unchanged on call.