The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-30
GOOD BUSINESS
ON GOOD FRIDAY
Volume of Business on New
York Board Causes
Great Surprise.
PRICES MOVE UPWARD
BANK CONDITION AND LABOR
SITUATION ARE FACTORS.
PRICES MOVE UPWARD

Kew York March 29-The animation
and strength Of The stock market today
wa surprise in view Of tie experiment
of keeping the stock exchange open on
Good Friday. contrary TO the usual Gus
fsu 2. was expected that operations
would De- little more than normal. as the
keauiae 1. the exchange open was large
5t a concession to the bankers to avoid
tas necessity OF making loans Thursday
I'll, carry over until Monday. There was
a small attendance on the floor of the
hoard room when the market opened, and
commission houses reported that custom
.re were almost entirely lacking The
f.or,Isu stock exchange followed the Gus
fnu There and remained closed and no
uri~iueSS Was supplied from that source.
All appearances indicated that the ma
furitv of members had taken advantage
of the opportunity to get away from the
civ When the activity began to show
signs of revival observers were Skeptical
and UrOfCssed the conviction that room
traders operations We're giving an arti-
fetal appearance 10 the market. Never
theIeSs a substantial days business was
recorded and the price movement was de-
rided and comprehensive The rapid adj
rance iu prices IS explained on the needs
r a still uncovered short interest rather
than investment buying or new Specula-
tom fOT an advance.
The DAYS news offered small material
for speculation outside of the pronounced
Improvement i'm the banking situation ia
5icated by the preliminary figures of the
weeks currency movement Mostly as
result of the tressury's relief measures
the hanks seem to have gained upwards
e xf2 N0O go of cash reserves during tbs
week The regular express movement
with the interior has. moreover, yielded
Sd small gain on balance. indicating tbs
.Urreut Of the movement in favor of this
center The premium on New YORK eN
change at Chicago has risen TO - cents
Indicating the course of TemittanceS IRON
that city TO New York From this is in
fcrred "A probable return flow of currency
from the interior after the turn of th'
month. The money market was little al
fected By preparations for the Monday
settlements, although call loans Wer'
quoted at yesterdays renewal rate n
loan item of the banks tomorrow Will b'
complicated by the influence OF theS,
preparations and the influence OF stool
market liquidation. The expectation va
general however that tOmorrOws ban'
statement would be strong. and as TIT
stock exchange viii be closed tomorrow
operators acted on the conviction tina
Mondays market would show the flrst ct
fects of the bank statement
The other dominant influence IN the
market was the intervention o: the IA
tionaI authorities 10 bring about arbltFa'
ton of the labor differences that threat
en- 10 cause strike among employees OF
western railroads The widest movement
of the dav were in the Hill and Harri-
man stocks and Canadian PACING Cdn'
4diau Pacific gave sigIs of a distressed
short interest. Active bonds were lllm
Int small blocks of some inactive ISSUES
were marketed at wide concessions nee 5st
Total sales. par value. Sls40.Vp.
United States bonds were unchanged OF
call