The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-04
BROKERS RAKE IN
SMALL PROFITS
Stock Market in Wall Street
Yesterday Dull, ListIeSs
and Languid.
PLENTY OF STUFF FOR SALE
BUYERS SCARCE AND DEMAND
LIGHT.

New York. Jan. 3-The stock market
To-Day failed TO reflect any pronounced
operations were largely in the hards OF
professional traders and the movement
or prices Indicated that they shifted
their position from time 10 time from
one side 20 another of the market IN
tho effort 90 scalp profit. There was
some evidence Of a supply OF a number
of prominent stocks and in others there
was enough demand to form a resistance
when depression was prevailing else,
where, but there was in first case little
pressure 10 dispose Of holdings and on tie
other hand the demand was so languid
as to cause only a sluggish movement OF
prices. The Hartman stocks were still
under some special pressure and this was
naturally attributed TO the coming in
Yestigation of the relations between these
properties by the Interstate commerce
commission which is TO begin in New
y ork tomorrow. Reports Of an indisposi-
ton OF the president Of the company may
have effected the stocks.
Delaware and Hudson fell away sharp
IS in spite OF tho increase in the dividend
rate which was not. however, as large
as holders have contended for. Amalga-
mated Copper was a prominent instance
Of the strength due TO current reports Of
an intended further increase I'm the div
idend rate. AtchisOn was helped by the
reports OF the same characer The mar
ket was made UP almost entirely OF in
dividual movements OF this kind due 10
special causes. The list as a whole was
legarthic and gave no sign Of the work.
ing Of any reinvestment demand such as
often follows the distribution OF profits
at this time of the year. The money
market continued to relax as IL was eX-
pccted il would do after the first Of the
year
The maximum early rate for call loans
was IA per cent. compared with 20 per
cent yestc. day and the rate got down
tho day. while 2ls per cent was the low
point touched. Another days large clear
ances at the clearing house showed the
rapid progress of the annual settlements
although the settlement was adjusted
evidently to cover two days instead OF
ono so that the Clearings Tor the first
business day of the new year is nowhere
near the record touched last year. al
though the total settlement effected is
much larger.
The sharp reaction from the high fig
UrcS of yesterday in the foreign market
indicates that urgent demand for remit
tances had been met. All three of the
great foreign banks made weekly re-
ports today and all three showed the ef-
fects Of the great year end strain, es-
Dccially the imperial bank OF Germany,
FOR which the decrease in cash for the
week amounted to S17,665. 900. the loan
cXpansino S3I4i5.OO0 and the increase in
rote issues S73.735 900. There was some re-
covery in the discount rate in Berlin
from the drop of yesterday but the dis
count rate in London continued TO recede.
Notwithstanding the prompt relaxation
itit run inc SttlilStHtY vi TIE Dttetil-
Der money market II is considered doubt
ful whether the recession in money rates
will extend &c actual ease.
Reports Of railroad net earnings for
November r. ceived today showed the un-
form growth in operating expenses with
corresponding effect in the proportion OF
net earnings. some railroads showing an
apprcciable decrease i'm net earnings com
pared with last year. The dull and
featureless characer OF the market was
emphasized az the day wore on.
Bonds were steady. Total sales, paI
value Sl.SS0O00.
L. s. new Is registered declined = and
the coupon q percent on call.