The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-09
ksral Sentiment Is, However,
THAT Period of Acute De-
preston Is Over.
IICES HAVE FALLEN TO
AN ATTRACTIVE LEVEL
l News of Importance to In
nuence Market Either Way
Is Received.

n rrw YORK, March 8.-There was fur
" rSrastic l[uuids ton in the stock mar
today and periods OF extreme weak
i during which prices plunged down :
|,sr 10 a level. In many cases lower
II for several days past. At the same
: there was eyidencs from time to
4 q OF absorption CT stocks OF a kind
Indicate that prices have fallen to a
Il where some demand is attracted
m investment or semi investment
Ejracter. There have been more or
81 harrains In ouying in small lots ali
| <n nut OF the market to hold for an
Eetment return or OF n marginal char
H. has been slower OF development
|, A. has been a notable lack also OF
| ing by banking and other large finan-
III interests for purposes OF support.
rIop buying of this kind. and the per-
fjon of 1t was a prime factor in turn
Ffhe bears TO cover and affecting the
oFlng material recovery rally. The
Frs proved In the later market that
Nv Ind not exhausted their ammuni
III This did not prevent growth of
Mon, however, that the period OF ac-
iIouidation was approaching It's term.
entiment was much less easy today
| n for some time past, and this con-
nee was more general that the liqui-
Lion would run its course without panic
aisaster. The week has been free in
N from rumors OF financial embarrass-
|jnts, although the extent of the decline
hes the fact of enormous losses hav-
occurred q matter of course. The
|,yiction remains general that these
Lb fallen generally upon the millionaire
| 81 and among those who could shoulder
burden without ruinous consequences.
8 this conviction which gives the pres
I decline the name OF the rich man
| DC" among professional operators,
|'esterdays weak closing paved the
III for the flood OF selling orders under
|Eh the market was swamped at the
E1ing. Gloomy sentiment was accen-
led by the discouraging views upon
~ Industrial outlook expressed by Il
Hartman In one OF the various inter
|Vs with him which spread this morn
|. His assertion that II orders on hand
la the United States Steel corporation
Ne not subject to cancellation, their
|npletion would develop the lack OF de-
Ind, was the occasion for the special
|ye against the securities OF the cor
|ation The severe decline In those
|cks was OF substantial effect on senti-
|nt. Union Pacific also responded TO
pessimlstic uttcrances OF its presl-
M with u material addition 10 the re-
krion in the price caused by the five
cent dividend coming off. The per-
lent absorption of Reading and the
"rs uneasy and In inducing the active
(ering movement OF the day. There
|e good accumulation also OF the group
Morgan stocks which broke violently
|terdsy, and Southern Railway pre-
|red rebounded violently when II be-
|re known that the dividend rate was
|lntained This checked momentarily
decline in the general market, which
3 resumed with the renewed attacks
United States Steel. The drop IN
|ces at the last was much the same as
~ OF yesterday. and the closing tone
8 decidedly weak.
Jews was little regarded In the days
|7ement and very little OF Importance
ne to hand. The indicated loss in cash
the banks for the week pointed To-
ne subsistence 10 the flow OF currency
2 the Interior, and exchange at Chi.
p rose from 2Dc to l5c discount today
pads were weak. Total sales, par
- 8, 10000.
ed States bonds were unchanged on