The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-07-26
MARKET SHOWS
MORE STRENGTH
Easing Up in the Money Situa.
ton Abroad Responsible
for Better Feeling.
MANY RAILROAD RUMORS
HARTMAN PACiFlCS CUT QUITE
A FIGURE.

New York. July 25.-The number of
| shares dealt in at the stock exchange did
not expand greatly over the total of yes
terday. But the market broadened out in
character and gave evidence of substan-
tial strength. Conditions abroad seemed
to be primarily responsible Opinion once
more shifted as to the Importance to be
attached to the Russian situation, at least
In Its influence on financial conditions
The threatening political outlook report
ed in the days news did not seem to dis
turb the feeling that the worst effects
on money and stock markets had been
met. There was a marked cessation of
the pressure OF liquidation from centers
peculiarly affected by Russian conditions.
The London market also enjoyed a brisk
recovery incident to the final stages of
the fortnightly stock market settlement
there, which seemed to find a consider
able short interest uncovered in "KaffirS'
would have been sharply depressed by
this period of selling for Paris account
This selling was discontinued today and
sterling exchange moved up at Paris, in
dlcatlng an easing money situation. Dis
counts also receded at Berlin but moved
up at London where the stock market
settlement made an extra demand for
money.
But these foreign factors were rather
of passive influence in our own market
and only served to leave unreStrained the
effect of more local influence These in
fluences were mostly confined to the
realm of conjecture and most of them
could be defined by the formula Impor-
tant developments believed to be forth
coming. The rumOrS as to the nature of
the developments showed much variety,
even where they concerned single stocks
The recent return of the expected arly
rturn of influential capitalists gave vi
tallty to the rumOrS. The tranScOntinent-
al railroad stocks led the movement and
the dealings in that group far Overshad-
owed imDOFfQnpp n
the market.
The plan of financing the Pacific coast
extension of the st. Paul has been a sub
ject of curious speculation for long time
past and the announcement of the return
from Europe of William Rockefeller was
made to impart important results for the
road from his contact with European
financiers. The supposed development
concerning the Hartman Pacifics was
even more vague and ranged from an in
itial dividend on Southern Pacific to an
absorption OF st. Paul by Union Pacific.
In the same way the expected arrival in
gan have given new life to the Great
Northern ore lands deal rumOrS. The
identity of the commission houses which
conducted the largest transactions in these
stocks lent an appearance Of probability
to the conjecture that insiders in the
properties were sharing in the market OPP
erations. The stocks furnished the nu-
cleus of the days entire movement which
was largely sympathetic.
The general market was much slower in
moving upward than these selected stocks.
but their leadership became effective as
the day progressed. and it was seen that
no important liquidation was attracted by
the advance. Money on call continued
easy. but rate for time loans over the end
of the year were maintained. The better
feeling in foreign market centeTs resulted
in a decline in sterling exchange rates
here. The demand expanded at the last
with the lack of pressure manifest and
the closing was active and strong at the
top level and with the leaders up from
3 to points.
Bonds were irregular. Total sales, par
value, s1,275.O00.
United States new IS declined q per
cent on call.