The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-06-21
TOTAL FIGURES
LOWEST Of YEAR
Narrow and Torpid Market in
Wall Street and Small AZ
gregate Transactions.
BROKERS OFF TO THE RACES
MOST OF THE DEALINGS IN
UNION PACIFIC.
BROKERS OFF TO THE RACES

New York, June 20.-Smal as was the
aggregate transactions in stocks today,
the figure falling to the lowest total since
last summer, the narrowness and torpidity
of the market are but inadequately con-
ceiVed from that. Reading and Union
Pacific absorbed a large preponderance
of the total dealings. Moreover, much of
the business was transacted in the first
hour, after which the activity dWindled
TO a point of idleness. There was an exc
aus OF brokers to the race track to wit
ness faVOrite racing event During the
afternoon the record of transactions ran
down TO a few feet of tape from the ticker
for each hour, with a slight demonstration
in Union Pacific during the first hour,
carrying ii up over a point. This cOnsti-
tuted whatever there was to the mar
ket. The conduct of the Reading direc-
tors yesterday in adjourning without act
ing on the dividend came in for most dis
cuSsion of the day. Official intimatiOns
that the regular dividend would be paid
in August did not prevent a revival of
assertions of a possible increase in the
dividend rate. The adjournment yesterday
was said TO be due TO the contention of
minority for an increase in the dividend
rate.
Money conditions continued to occupy
attention and were regarded as the real
restraining influence on the market The
usual exporters of gold admitted that thew
had in contemplation additional SHIPMENTS
OF sub-treasury operations Showed a gain
in cash by the institution since the last
bank statement of 81, 600. This includes
the payments for the gold shipped abroad
As the surplus reserves of the banks stood
on last Saturday at 81 514 625, the sub
treasury requirement ready. has been
sufficient to practically exhaust them
The New York money market is still re-
ceiving balance of receipts on the in
terror currency movement. but this item
is believed to make a small offset to the
above showing.
Reports of all three OF the great foreign
banks came to hand today The Bank
of France showed a gain in gold holdings
of nearly 100000 and loan contraction
of over $5O000O0. The Bank of England
increased its bullion holdings So. 320. 000, but
its loan account has expended The I'm
pertal Bank of Germany gained only ST.
$4,000 in cash and effected a loan reduc-
ton of S2,325.O00. which is but slight re-
cuperation toward the expected strain on
that institution of the semi-annual settle
ments- Foreign exchange in this market
was well sustained at the gold export
rate.
An unfavorable Impression on holders
Of copper securities was caused by ad-
missions of the prospect of a reduction in
the price of copper TO break the deadlock
now existing between buyers and sellers
growing crops was reported and the mar
ket had nothing to contend with from
that side. The only explanation of the
Union Pacific advance was the repOrt of
a stock market pool in that stock The
advance was lost during the day and the
last prices of the day showed small de-
clines in the majority Of stocks.
Bonds were steady. Total sales par
value. $4,000 United States bonds were
unchanged on call.