The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-02-16
EASIER FEELING
IN WALL STREET
Business Not Rushing But
Prices Seemed to Shoot in
Upward Direction.
0ND0N LOADED WITH GOLD
MOVEMENT ACROSS THE OCEAN
EXPECTED.
LONDON LOADED WITH GOLD

New York. Feb. l5.-There was little
animation in the dealings in stocks today,
hut decided headway was made in the
,rice movement against the reactionary
tendency which developed yesterday. The
firm tone Of the money market was prac-
ticaIv ignored owing to the superstition
that the tigh1ness of the call loan mar
ket was due % temporary causes and
that forces of relief would come into
NAV The principal OF these relied upon
i the securing of gold In London, which
is expected on Monday, when large ar
rivals are que there. The strong posi-
lion disclosed by the Bank of England
in lis weekly statement yesterday created
an impression that no further obstacles
would be opposed TO "a movement of gold
a. New York but the tone of comment
from London today indicated that finan-
cial authorities there would feel some
continuing dissatisfaction at such a
There are reports of coming large
Withdrawals for South America from that
center Stress is also LAID upon the prob
ability that Paris Will recall the credits
1,laced in London in December, when the
Rank Of France extended assistance TO the
Bank Of England. A decline in interest
rates i'm London il is said. would lead
shipments of gold from London TO Paris.
The New York banks today turned over
IA the sub-treasury some 81 20, Go, being
The remainder Of the deposits made with
the banks in December. The interior
banks have drawn on their New YORK
CORRESPONDENTS TO only a small extent TO
meet these payments the higher rates
Tor call loans here acting as a dlssuasiVe
influence on any reduction OF New YORK
accounts.
Estimates Of the weeks currency move
ments indicate a small change in the cash
lem either way, The government with
draWals TWO weeks ago vert thrown over
almost entirely into the averages Tor the
following week and helped TO make the
weak showing OF last weeks bank state
ment Lending i'm this market 5y IN
terror banking institutions would tend 10
relieve demands upon the local banks
but the further placing OF note ISSUES
would constitute a demand for loans upon
The local banks.
Todays addition To these issues was
sl0O00 400 placed by the marlborough Net
lopolitan the price at which they were
understood to be taken by the bankers
indicating an interest rate OF e1z to T.
per cent at the term OF maturity The
rates for time loans. however, show a re-
ceding tendency owing TO the lending here
for account of interior banks.
A decline in the grain exports Tor the
week of S200O0 bushels OF wheat and OF
$4,000 bushels Of corn has some bearing
on the exchange market, The rising
money market in Berlin also Is a factor
in the situation. The repression Of &C
tIvfty in the market is believed TO be due
I'm part To a desire 10 await the ad-
jurnment of congress before entering up
on extensive market commitments. The
resumption of the interstate commercs
commissions inquiry into the Hartman
combination of railroad properties is an
other item of future influence to beal
on the market. which is the occasion
OF some reserve in speculative operations
Not only were dealings held IN moderate
bounds today. but price movements o
consequence were restricted to compare
lively few stocks. record price 10
Anaconda was an incident of the day
REALIZING sales impaired the best price
of the dav. but the closing tone wa
steady.
Bonds were steady. Total sales. par val
he. s. gOO0a. United States bonds wer'
unchanged on call.