The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-20

m FORCED LIQUIDATION
4 IS THE GENERAL BELIEF
.;us Shows Slightly Better
lana, With Prices Above
the Low Levels.

,r YORK. March l9,-Today's
!, stock market was regarded as
.h,,l consequence of the de-
s,,,;on Of last week, but weakness
a,sasipcss were much more acute
we're expected, and gave rise to
at times that the market was
;uc AWAY from control again and
-Ing back into frenzied conditions.
7. are always some strongly held
,rts which are held through a
Ike that of last week and pro-
in spirit of assurance that
. sap be closed out TO better ad.
-.sr by waiting for the frightened
9 of weaker holders TO be ended.
streppth Of these accounts is inn
"A nevertheless. to such an ex.
i thst they are subject to pres
by brokers' or bankers or others
>,rnrd in helping to carry them, to
.losed out at the first opportunity.
4 = reaction rs that of yester~
following the reduction of the
|.rsred short account, adds to the
|tnrss of those held over bull ac-
IA and TO the urgency for closing
h out.
5e selling during the first hour to-
sroused the suspicion that very
= account Of this kind was being
~ 10 liouliation without regard to
abili;y of fhe market 10 absorb
heavy offerings. The identity of
accoun. was not disclosed, but ru-
q became very explicit of a
,stend embarrassment.
good deal Of anxiety was eX-
nd also over the money situation
<ad. II was somewhat remarkable
this anxiety was fostered by
|persistent abstention Of New York
kers from Withdrawing gold from
Ia markets. The seemingly
|rT sacrifices which are being made
Ia New York stock market for lack
|redit facilities. which the foreign
1ancc market indicates a power
|,ecnre. give rise 20 the vague
that something worse than the
York stock market condition is
N ii demands for gold should be
IA on foreign markets.
sbled reports were circulated in
D street todny that the bank of
rfc was lending gold TO the Bank
Lnglsnd. that the English bank au-
.Illts had requested New York
|fsrs 70 refrain from bidding for
in the London market. and that
lin was liquidating securities in
|dcn on large scale. At the same
money and discount rates were
b in London. Money on call here
I'd further relaxation. and the ad-
d to a premium of New York
pnge at Chicago indicated the
'ss OF remittance from that
gr 10 this. Foreign exchange was
4 in spite of the reported troubles
1orelgn money markets The easier
!eney extended to the time money
9fi here, rates for which were
noly lower. The opera ations with
notressury are Welding some
70 the banks. The further
Ddailon in the stock market is q
Y TO the money market also.
Hthcr factor in the days uneasi.
Fme from the tone of the intlma-
gwen out by prominent capital
'n their new accessibility TO
Psper reporters. These intima-
though conveyed in vague form,
n interpreted as evidence of
Eor amongst different groups of
',alists. lnsinuations that the
y market had been raided as a
|.pie OF reprisal by one group of
.,alsis having grievance against
va found n place in some of the
'sa utterances published in Wall
e' news channels.
ne unsettled market continued
'ae!aout, and the closing was irregu~
si,nough at substantial rccorerics
D the lowest levels.
,uqs were weak. Total sales, par
q, $l-s42. 900.
'a,ed States ponds were unchanged