The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-04-13
lower TENDENCY
IN WALL STREET
operations Are Narrow, but
Bears Have All the Best
of Trading.
BREAK IN C0PPERS
HAS A BAD EFFECT
|Iputinued Decline i'm Money
Rates Fails to Induce
Activity.

NEW YORK. April l2.-Prices moved
E-srularly downward in the stock mar
\, today on narrowing transactions of
professional kind. The declines were
I'D 10 have been induced by some lioui-
alton OF long stock. but importance was
rrgned TO the activity OF the bears in
e. market The news of the day was
u OF great apparent effect outside a
Nv special stocks. In the coppers there
VS. weakness both here and abroad
his was in connection with the fall in
ss price of copper warrants in the Lon
IN market and the marking down OF
De price of copper upon the New York
Neal Exchange,
7hs denials by agents of the great pro-
ls,srs OF the. reliability OF these oues-
N copper was given a good deal OF dis
r-ssion. but they do not prevent the
cocks Of the copper companies from be-
e depressed by the lowering quotations.
nSper securities abroad. including Rio
ftntoS. fell sharply In price.
This movement OF the coppers had
rore or less sympathetic effect upon
es whole market Professions of appre-
tnsion over the prospects for the crops
we're factor in the depression These
tre found in the reports of crop experts
utyellng In the crop regions and their
tiuence was Increased by the firm tone
L The wheat market. Besides the imne-
t1e erect OF these reports depressing
I5ss. they served as reminder OF the
owing Importance TO be looked for from
Is time forward OF the new crops as
q market factor. This makes a season
Jsyerbially Of uncertain fluctuations in
rsss which are a deterrent from large
ftculative commitments In the market
~ growing listlesS operations in the
EafSet are notable feature
. he continued decline in money rates
ha here and abroad seems TO have
ssurIties. The failure OF the market
70 urespond TO this development has much
70 do with encouraging the bears 10
axe the attacks on the market which
hSe beer noticeable for two DAYS past
1siminary estimates OF the weeks cur
70 movements With the interior indi-
ne balance in favor OF New York of
rs than a million dollars. The sub
ntasury operations have contributed So
..tN TO the banks since the last bank
nisment. Last weeks cash gain. al
essgh very large, was less than the pre-
Ehary estimates and this gives some
usetation that the preliminary figures
rEewhat understate the actual gain to
= shown In tomorrow's statement.
me ABSTRACT OF national bank reports
Of March 22 shows the extended posi-.
" Of the credit situation the country
rough, and explains the expectation in
A,king quarters of a continued demand
y cash from the interior 10 keep up
sssIvss. From January &c TO March %
{. loans expanded $T2,5T6, $50, while the
lsreniage OF legal reserves to deposits
~ iallen from 2l.53 per cent TO 2O.7.
= cent. Agricultural exports for
l'ch showed an increase in value over
nrch OF last year OF s12.726.iS4, al
Nagh each item except cotton showed
decline from last week of 1929. .7s7
sAelS for wheat and 1.441, 2S5 bushels
ire market was not under immediate
rasure al the closing, but there was
y vigorous recovery
IuOs, N.20..000. United States bonds
ssfs unchanged on call
NpyU Vnrly Dar1,