The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-19
l||IETER DAY, WITH
}I0WER PRICE LEVEL
.,ket Is Naturally Steadying
,|noru After Violent Reaction
q From Semi-Panic.
ulRP RECOVERY WAS
! NOT ENTIRELY PERMANENT
.tlook Is Much Brighter, How
aver. Because of a General
Readjustment.

x-w WORK.. March 1S.-There wss
<km, statement Of excitement in the
. keo n stocks today from the enor-
@'las, sp,,ansactIons and Wild price fluc-
~. ~ last week The price move
'i ni,Il showed a degree of feverish-
RAJ was the after effect OF last
- turbulent market, but the reduc-
=, fhe volume Of the days sales is
.,s,vs evidence OF the settling back
ihs market into more normal condi1
L Ga also was the check 10 the
ss,rr advancing tendency OF Satur-
%S,eh was wholly due TO the dis
"a ~ hear operators who had con-
IN sell stocks short recklessly
fo the lowest depths of Thursdays
y. and who were compelled TO buy
>srsr ON Saturday by the volatile re-
ssrsry violence Of the recovery gave
.'nJpr OF its unreliable nature and
Native sentiment was quite pre-
"a sor a check and a reaction today
{se, The London market had already
.,'sirated this course before trading
"a bera and sent over n materially
~ rancc OF prices than the closing
q Tho drop In the opening dealings
~ vas wider than anticipated and
Il me effect OF reviving some of the
'rtsment which prevailed last week,
4, ii appeared that the wilder fluctua-
|'s were largely due TO the plunging
nations OF n professional element
.Ish had become habituated to free ac-
"A by last weeks experience.
<decliye support appeared in the mar
N and the proceedings then were much
'iater and more orderly, although the
-eUsd weakness OF the later market
IN inc lowest prices OF the day. The
1rSet continued 10 show the normal
|scts following such price contortions
lhose OF last week That is, ii showed
(, lack of the large demand from
orls which WAS squeezed into covering
Saturdays market and felt the ef-
he OF reaselling TO take profits by
"a who secured stocks In Thursdays
.rup or who had bought on Friday
.rsIy for the purpose OF supporting
|es and ayerting what threatened ~
<one a disaster 10 the market. The
finishing activity of the market in
kted tho disposition TO pause after
seyere experience of last week and
u stock of conditions and of promise
icre entering again upon large opera
rs In stocks
General informa lion as 10 the causes
Il the sources OF the unloading which
cducsd the convulsion in the market
Hn largely lacking. Certain con-
ions. however find warranted ac
piance. The extent of the liquidation
Ilt have gone far To cure the trouble,
|atsycr 1t was. II is granted also that
\ Investment demand uncovered by
4 extent OF the decline must have
IPly reduced the floating supply OF
oths IN the market. Not only was the
1opiIon by private investors very
Te but investment institutions are
'k1ed TO have taken advantage of the
)1rtunity TO extend their holdings OF
f1htles al an attractive rate OF re-
10 Confidence Is felt also that the
.1elions OF credits effected will afford
-4ble resources for the better dlges-
Of some OF the new capital issues.
'|th had become a glut in the market.
slructlng lis channels against the
Ecment Of other desired issues.
ne money market showed the effect
he passing Of the March 18th settle
nu. and Its greater ease conduced Ia
'Qyery In foreign exchange. The Bank
England, however, had TO advance It's
again TO secure The supply of gold
me London market, Railroad traffic
4rs offered no trace OF reactionary
'1enoy In business, which the stock
lFet slump has Increased the watch
4ss for
~ last prices showed substantial
from Saturdays closing level
ds were irregular, Total sales, par
$3.50, 900.
-ted States bonds were unchanged