The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-22
LESS BUSINESS
IN WALL STREET
No Urgent Selling Pressure
Greatly to the Relief of
the Operators.
PRICES A TRIFLE BETTER
UNSTEADY FEELING AT iHG
CLOSE.

Nevs York. March 2l-There was a not
able shrinkage in the volume OF dealings
in stocks TODAY. which was fesaIuo"
,.r,op the whole with satisfaction DN the
financial community. The eNpahsioh VI
.5.,finos lately has been SO clearly an
.dded burden 10 the market as the IN
..-.,so i'm business was almost wholly upon
rb. selling side that the reduction IN vol
-,r,e is u-aIcomsd There was little or
ono of r6e urgent selling pressure to-
.,.,- which developed at one time or an
cher during a session for many days
mast The early market mace some tii7-
qufetiug dips and there was more OF less
f.-arish feeling perCepuhle IN the move
-,crr of prices but this was on d.
finishing scale and the tendency was
towards distinctly quieter market
Tbe situation seemed 10 be that erect
i,-a support was forthcoming at least Iot
ann. hostile attacks on prices. The mar
Gaf was enabled to advance slowly as a
.,nsequeuce The demand was not large
however and the gradual hardening ten
leucr after the opening weakness was
fnrerr71Dted by many halts and backsets
and intervening periods bordering on stag
nation There was a noticeable resump-
tiou TODAY IF the buying IN ODD lots Whlch
Was supposed to represent the presence
IN fine market Of the small investor. at
reacted bv the rate of investment return
ou stocks offered at the existing prices
The incident Of the day TO which most
inheritance was attached was the advance
HI the official discount rate of the Bank
nj France from to So per cent, carry
ug the private discount rate upward into
"a. per cent. II was generally assumed
that this movement was directed against
me London markets pressure on Paris.
The recent high ruling rate of sterling
exchange at Paris was attributed at first
10 remittances from Paris to take part N
The Jananese loan conversion at London.
Some opinions also attributed the result
TO a process of remittanCes from Paris
prompted by the desire of French capital
10 escape the proposed income tax Ii
was reported that the Bank of France
was acting in conjunction with the gov
eminent III refusing to part with gold
for export in order to oppose the move
ment of French capital away from the
country.
The actions of the French bank. how
ever, broadly considered, is accepted as
confirmation of the worldwide tightness
Of money markets. Today's Bank OF
England returns showed an expansion OF
S4.760.0O0 in outstanding credits. which
was the decisive factor IN the decline ~
condition of the bank. the reserve and bull
lion items being little changed. The pc
Rod of tax collections in London is now
passed and il is not considered probable
that the Bank of England viii control
the money market so absolutely as here
tOfOre With the April settlements out
of the way ii is doubtful whether the
tacit agreement with New York bankers
TO take gold from London market will he
longer observed. Some stocks ended the
day at tho best prices. but the closing
was rather unsteady.
Bonds were heavy. Total sales, par
value 81 59S,000.
United States bonds were unchanged OF
cali