The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-04-09

STOCK MARKET
Price Fluctuations Narrow and
the Aggregate Sales for the
Day Were Small
MONEY SEEMS PLENTIFUL
VET RAILROADS ARE CHARGED
STIFF PRICES.

,-,,- York AuriI S-The stock market
..op-rf increasing indications today of
lansing into professional hands and those
.f the smaller class Of operators. This
fr.,u-nt turns in the course of prices,
-r,. r,rr,vu,zs of the fluctuations, ana
..a notable shriukage in the aggregate
-aIes for tine day all pointed unmistak-
ably to the ab-tenti0n from the market
of any large and consistent class or sup
r.rfer-. This was the response of the
.,.5ri-ar f0 "a rather general note OF warn
f,,.- from responsible sources of the rate
and extent io which the rebound was run
ming after tine recent extreme depression.
Do tlr money market SITUATION paItcu-
I.rfl although the reality Of the relaNa-
r.,r from StriugeuCV j. not questioned
,u Irv hand. there is inquiry as TO the
adequacy of the relief TO meet all the
needs to De FACED
nh. terms TO railroad corporations for
borrowing large amounts are still Oner-
Gus. as eNemplified i'll the terms of sale
nf Erie notes last week. Any general
resumption of the projects OF extension
b- the railroads is dependent on the easier
Rates for money reaching TO this field of
borrowing, OF 10 such revival Of the de-
maud for new capital issues as to justify
Il resort to that means of financing the
work of betteTmentS again. Even in the
case Of subscriptions to capital issues al
ready made. there Is matter Tor the con-
-ideratiOn of future borrowers dependent
unon money supplies. TOday's maturity
If four 10 per cent installments OF Great
Northern stock Callir z for S24,00U,O00 di
reefs attention TO the monthly recurrence
for some time 20 come of a per cent
.r-taImeut of these subscriptions.
For Northern Pacific new stock sub
-criptious also there will fall due quar-
t.ry nstallments of 121a per cent begin
ming july l. each of which will call for
more than Sll.0JOU00. while for St. PauIs
SiHU1uug of new stock, Is per cent is
payable June !. and - per cent install
meuts ON three half-yearly periods after
that. with final Il per cent 10 be paid
u March 1893. In the meantime large
note issues by corporations viii mature
which are expected to call for refund
ing, with success dependent upon a re
yival of the demand for bonds.
Ii is TO be noted Of the recent revival
i'm The bond market that beside the good
effect of the easing of the money mar
ket something is due to the demand by
banks for bonds made available TO secure
government deposits under the new Tul-
ing of the treasury department and also
% the movement toward Refreshments
against the retirement of all but the So
HHu0 10 be refunded OF the outstanding
government 4 per cents of, 1917. The ster-
ing exchange Ilarket also, by its persist
emit strength here. in spite of the decline
m interest rates in London, points to the
possibilities of unsatisfied money require
nlents abroad Brokerage houses today
reported small volume of orders for
stocks and eorly attempts to advance
prices quite generally met with supplies
of stock which turned the room traders
10 the bear side of the market. The re-
~u,ting decline was iRcOmplctely recOV-
cred later and the closing tone was rather
heavy. The narrow net changes are sig
Eificau- in themselves of the professional
origin OF much days transactions.
The tone of the bond market showed
some TeactiOIary tendency from the re-
cent uniform strength. Total sales, par
value. S2OtS.000
United States bonds were unchanged On
call