The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-06
UNABLE TO STEM
THE ONSLAUGHT
uoIlv al Opening of the Stock
Market Only Accentuated
the Decline.
crprFI FED UPON RUM0RS
DsaoaaLlzEO TONE AT THE
CLOSING.
c7prH FED UPON RUM0RS

vork March sit looked for
~ though stocks had made a stand
i'i''s -. he violent selling pressure which
&c 80 sorced prices downward for some time
nos put the early rally proved only a
pssessfhing spell. and the selling movement
pf eetdn n. the dav was in rather large vol
late ~ Ia more precipitate in its charac-
ahi. 49,, that Of yesterday, with panlcky
ger tsa =, he last. The fall in prices was
5Ie ess FOR an absence of news to ac-
ne.a .3 far IT, The violence of the fan.
eo.A evsr gave rise TO plenty OF rumors of
ho,. ANTIQUITIES, TO which the urgency
mones .,rIoadinr Of stocks gave plausible
oi ~ NJ announcements of any embar
e eeoISrns5ts reached the public. however.
Iss az n,o-ynots and unexplained selling of
.sehison was the active influence IT
.,,s,iny urices downward. II was asserted
-. = long standing confidence in an in
tha ma. q ~ Atehison dividend had been
'5'aaSoned nv speculative party very
s soa,-Siy Involved with the stock on that
nle.e,,,,5ntion The stocks came out in
siocks m thousands OF shares and the
sr5ees declined rapidly IN spite OF the
ssrscutiou of some very large buying or
Sers. which had the appearance OF pelng
1s5e for support The rest of the mar
s ~ ignored the Atchison selling for
time and held its rally well.
''s TS. ' comnlexion of the market changed
hen the Hartman stocks began to come
M assin. and especially Southern Pa
JHc. Rumors were current that a deter
-rinstion had been reached to reduce the
aridepd on that stock. RumorS of this
UNA were actively circulated throughout
eha dav hut were entirely without official
ssnctiop or possible confirmation The
most effective influence in the early rally
4 the market was the large demand for
tss HIN stocks at advancing quotations.
=. 40 4f11 rpnnTf ,1ITTanT
stst arrangements had been perfected by
s-iVate agreement for taking over some
= sba large holdings of these stocks.
-s;rh were overhanding the market. The
Hsrrinan holdings of Hill stocks. it was
alleged were included in some such ar
ransement A statement with an appear
spce Of inspiration was given out dur
ing the day denying yesterday rumors
.hst the Hartman holdings were being
Inundated 10 provide resources to meet a
note falling due at an early day for the
purchase OF Baltimore & Ohio stock for
the Union Pacific this year.
Money was slightly easier, both on call
and on time. but this was attributed
largely TO the effect of the stock market
Nouidation Chicago reported the larg-
est shipments of currency to the interior
during February on record, and the i'm
preston was general that closer money
conditions were in prospect. The conyie-
slOl liidL Will lllaS piOoRNAN LIZ DAAAN
fective relief was 10 be had by stock
market liquidation and a release of funds
10 meet the universal pressure for money
and capital lay at the bottom of the gem
eraI disposition 10 get out of stocks. The
demoralizing tone at the closing left
much anxiety for the future course of the
market The special weakness of stocks
which have been held in the Union Pa
cific treasury gave an impression that
that eompanys holdings were being hdui-
dated Atchison fell an extreme seven
points Southern Pacific and Louisville &
Nashville five and the general list up To
over three points.
The Hill stocks were the only ones in
he list 10 save anything of the early
gains
Bonds were Irregular. Total sales, par
value Sl10090
United States new IS registered adj
ysnced 7 and the coupons 1 per cent on
cal