The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-04-12
SOME MPROVEMENT
IN WALL STREET
OOerators. However, Seem Un-
certain as to Outcome of
Next Few Days.
HONEY MARKET REGARDED
WITH SOME MISGIYINGS
SIGNS of a Movement of Cur.
rency Back to the Interior
Are Evident.

NEW YORK, April 1.-THE stock mar
10, was still largely in professional hands
,cdsy. but operations were conducted in
more aggressive manner and were eN-
ended TO greater lengths. Constant
.Af,Ing of position still indicated a very
uncertain frame OF mind OF the part Of
the professionals.
Much Of the days session was given
10 TO what looked like testing opera :
tons. without success In developing the
rrsvailing tendency OF the market The
Irading sank into extreme dullness at
times under the dlscouraging Influence
y these failures and then yielded decid-
.iy. Such strength as the market show
a was most in evidence in the early part
c the day. Part of this was III response
To rise in London markets as a result
q the reduction in the official discount
ale Of the Bank OF England from 3 to
Il per cent. The carly results were fur
lhered by the bull party in tho trading
BY manipulative devices. The substantial
tfoct Of the English bank rate reduction
vas. In fact. sSlall.
The previous course of the money mar
mt gave ample warning OF the action
and opportunity for discounting IL in the
securities markets. In some quarters an
rpectation had been expressed that the
rsduciion would be fun l per cent in
sead Of onehalf The weekly statement
4 the Bank OF England fully explained
the action OF the governors. tke bullion
h'ldngs showing z large accrction and
ihe loans considerable contracting. Not
ally this. but q heavy decline I'm govern
rent deposits and n corresponding In
usase in other deposits showed the trans
i.fs by government expenditures Of large
INNS To the money market The private
ale OF discount continued TO decline also
g Il did in Paris, tile Bank of France
sowing substantial contraction OF
l@ns although the increase in gold hold
5gs VAS but small.
Notwithstanding this general Welding
4 money rates all over the world, the
rock market begins 10 reflect ynIseiyjnys
Ntr It's sufflciency 10 meet the large
ntng demands. These include large
iolnnies Of authorized but unissued Sc
lrities. or. where the sale of these is
npTactcable, probable further note is
fsss. signs ot movement of currency
lack TO the interior nlso give warning of
NE large requirements of the continued
r,ivity In trade. The effect of this de-
sand. alternately. is n slackening in the
smanos oi trade, This is A possibility
loked upon with less equanimity than
i'r time. when It's possible relaxing ef-
ri IN the money market was given first
n1sderaton in Wall street. The dilemma
mus presented OF tight money markets
ssihg 10 continued demands OF the circu-
2uon from active trade, or sustained
'ce In money by reason of some rcac-
Sn IN trade and the consequent reduc-
| 'Pn IN earning power on share capital.
Another influence in the days market
| ias The report from Washington of the
edslon OF the Interstate Commerce COM
Il Ison TO advance proceedings against
W hartman railroad system as COM
Il Hlauon IN restraint OF trade within the
/ ssahing OF the law, The London copper
-sISei showed a disposition 10 break
ealn, and this served to awaken some
stasiness over the market position of
| al metal. Notwithstanding the assevera-
/ Hns ot the great producers as 10 the
nuhdness Of the position. Iron trade au-
uolItles also testified to the undiminshed
| srehgth CT that trade. United States
| s.ssl was comparatively firm. but this did
M Mlu sustain the general market The clos
- lone was steady ard at some recov-
e'! IRON the lowest
Bonds were dull and irregular. Total
ass, par value. 81. $50 000
all o''~ '' o'''