The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-12
FRONGER TONE TO
he STOCK MARKET
,dications Are That Long
Period of Heavy Liquidation
+ Is Nearing End,
hon REPORTS FROM
THE WORLD OF BUSINESS
,.ue of Money Market Easier
/ in Spite of Weak Bank
Statement.

k-r,v YORK, March 1.-THE action Of
rsov,s stock market served 10 mate
IT,. s,rsne;hen the impression that the
- period OF liquidation had run its
~ This supposition was already
Itself In the speculative attitude
E.rds The market last week, owing to
nhv,ous absorption going on at va
a.. ], roInts in the stock list. even while
NJ ,roe, acute weakness was suspectible
a,bers. Saturdays strong closing left
=. hears uneasy over their uncovered
l l.rtlou, and prices opened with quite an
iVbTerd spurt.
me market had It's period OF uncertain
, 6ctuations during the day and closed
Vr,,nctTy easy. This did not obscure the
H., Thai speculative sentiment was sub
-kntyally improved. and much OF the
|1loom which overhung the market last
-spek was dispersed.
The Improvement OF the market must
/ get down In larger part to subsistence
The pressure to sell rather than TO any
roe urgent demand for stock. The de-
ded dminutlon in the volume of the
1,arkel is an index Of this fact. How
Ear the demand was more than suffi-
Cent 10 overweight the greatly lessened
Hing and TO carry prices substantially
Id comprehensively upwards. No strlk
,r change I'm conditions was cited as the
flee movement. but the extent of the de-
mes already forced, IL is argued. go far
wards a readjustment OF prices to n
,,Hde possible deterioration from present
y ,dustrlal conditions. This contention is
wen additional force by the continued
: nj oIpsn pf tho
on IN the different trades.
The mercantile agencies report a full
Ne OF demand for ali lines OF merchan-
-. with business above last years cor
Ipondnig period. The country's bank
-&rings last week showed a material eX-
3nslon over both the preceding week and
,e corresponding week OF last year. Rail-
->ad traffic officials continue 10 COM
hin OF the lack OF cars to move freight
lnhch is Offering still In unaba;ed colume.
(Iuthoritles In the steel trade insist that
n demand for all lines of finished pro-
pets continues At flood tide, These con-
pltlons serve TO keep In check the appre-
ptnsion caused by the avowed purpose
y the railroads 10 retrench' all possible
Nv outlays for improvements.
: The tone Of the call money market was
shfcepiibly easier today. In spite OF the
Kak showing OF the Saturday bank
Y utement The large cash loss shown by
e1e statement was attributed to n recti-
pfatlon OF the previous week. New York's
"a Tor gold In London today was again
9ehective, except TO cause q fractional
Nvance In the price which the Bank OF
lnglnnd was obliged to pay for the gold
terilng exchange at Paris was again
k,ong and II was reported that part Of
ne London supply OF gold was made up
tAmerican eagles, presumably received
pm Paris. Money and discounts re-
nded In London but advanced in Berlin
0Ime money was strong here. with loans
Ye per cent for periods I'D TO six
Ion!hs. The banks. however, are max
large payments To the sub-trcasury
" Y retirement OF circulation. II is report
that the fun $1,000. 600 quota OF the
pnthy retirement allowed under the
law has heen already applied for at
'eshlngton for this month.
lihe days extreme advances were ma
-3raily reduced by the profit taking OF
MAJ hour: but substantial gains we're
- The closing tone, however was
9ds were irregular Total sales, par
t}1s $500, 000 ''''
United States bonds were unchanged on