The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-26
SUPPORT IS NOT
LONGER GIVEN
Prices of Stocks Allowed 10
CrumbIe Away by the
Inside Interests.
WALL STREET DISCOURAGED
UNAVOIDABLE EFFECT or THE
DAYS NEWS.

New York. Jan. 2J--The new decline
&, socks today had a very discoura gsng
effect on speculative sentiment I'm the
market coming after tile slight recov-
.rv which had been achieved from the
sharp FAN last week The dullncss and
Sjuggisnuess OF this week have been
viewed rs q waiting period which was 10
end with a Gefnite tendency i'm one di-
roclion or another Today's fall IN prices
conveyed the impression that the aues-
lion had been settled i'm favor of a re-
ucwal of the selling movement The
principal feature Of tho days market was
rot the weight OF the selling in spite OF
the weak showing, put rather the almost
.0t9l lack Cf any measures of support
for the market some or the PRINCIPAL
stocks iu the list slipped dOwnwards b
It time OF transactions largely made
gp of lVl-sh3re lots. No SOlicitudc was
manifested Tor the course OF prices bv
.i1cing Of protective buying orders There
iN aIl parties interested At the same
time there was heard some discussion OF
tlc necessity OF allowing stocks to settle
90 "a lower price level i'm order 10 attract
any investment demand or effect any
movement Of the congestion OF invest
mont securities, much Of which is still
in their hands.
Some Of the days news received an
unfavorable Interpretation and helped 90
explain the renewed depression in stocks.
such was the bringing of a suit by the
Minnesota state authorities 70 anDul the
charter of the st. Paul. Minneapolis and
Minnesota railroad, the parent Of the
Great Northern, experimenting the suit
90 prevent the proposed new issue OF
Great Northern stock
The publication OF the report Of the
Interstate commerce commission on its
iuvcstigatiOD OF the eastern soft coal
roads served 10 revive some Of the un-
IA
ihe Investigation was IN progress. i'm spite
of the Revision which has occurred in
the meantime i'm tho feeling on the SUBJ
icCt For iIt lance. there has been lively
Che assumption that the divorce of the
coal mining properties from the railroads
would involve the distribution OF a large
sum 20 the stockholders in the proceeds of
the sale of the coat companies. To-day
however. the prevailing depression Of sem
timent was reflected ia the contrary view
taken OF the effects "a the recommended
lions OF the commission.
The money market WAS distinctly firni-
or in tone today in al departments. There
WAS little alteration in the supply and
demand. bat "a sentimental effect was
caused by tho notice served Dy the sec
rotary OF rhc treasury OF lis desire to
have government deposits with the banks
recalled before itls retirement from the
department or The coming fourth of Mex
MarCb. The passage OF the withdrawal or
upwards OF $s00o.@@ from the money
market during February caused higher
rates 20 DE asked and had its effect ca
speculative sentiment I'm the stock mar
kct. Estimates OF the week currency
movement Indicate "A gain by the banks
OF about S5.pe0o00. of which S3.S4s0O0 came
from operations with the sub treasury.
The private discount rate in London
was shaded today and the imperial Bank
of Germany made a. strong showing in ITS
weekly statement The maturity tomor-
row Of final % per cent installment Of
descriptions TO new Canadian Pacific
stock was believed 20 account IN part for
The special weakness Of that stock. Re
PORTS Of the hitch in negotiations for
merger OF Lake Superior Copper proper
lies seemed 10 affect Amalgamated Cop
per- There WAS practically no resiliency
90 The market M any time. but final
slump iu tho Pgcifics had very little ef-
feet on the general list.
Bonds were firm. Total sales. par value,
81 HHI aln
United states bonds were unchanged on
t.fU