The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-06-07
SLIGHT ADVANCE
FOLLOWED BY DROP
Attempt of Professional Trad
prs to Boost the Market
Not Successful.
TALK OF ADMINISTRATIONS
CORPORATION POLICIES
Conflicting Reports as Whether
or Not Case Against Harri-
man Will Be Pushed.

NEW YORK June 6.-The transac-
tlons which carried prices OF stocks up-
ward I'm today's market We're limited IN
amount and we're believed to he from
professional sources almost entirely ENl-
IDENTIFY the professionals find the best IN
-spiration Tor price movements IN rumors
from Washington regarding the intended
policy of the authorities toward corpora
lions. TodayS rise was due In large
part 20 the positive assertions contained
IN Washington adviCes that n determine
tion had been reached. after consulta-
tion among the members OF the admins
tratiop TO refrain from an active pursuit
OF the Hartman railroad combination be-
cause of fear that the general SITUATION
might be impered by such course.
This was the same report that emanated
from Washington on Tuesday. with the
offect OF putting. UP prices. YESTERDAY
stocks fell on the announcement from
Washington that IT was intended TO pro-
ceed against Mr.. Hartman 10 compel an
answer TO questions which he refused 10
answer before the Interstate Commerce
commission. The inference might be that
operators in stocks attribute great i'm
portance 10 the Governments course. but
the inference is equally strong that cor
rect information as TO what that course
will be Is far from being generally known.
Nothing occurred during the day TO
change the conditions fixing values
The retirement from the chicago ana
Alton directorate of q friend Of the Har-
rimau interest revived some discussion
OF the friction between that interest and
the present control of the Alton.
This discussion, however, did rot in
rerfere with ;he strength of The l1arrl-
man and Rock Island stocks. The ad-
mission of the absorption OF Il dominant
interest in the Boston & Maine by the
New York New Haven * Hartford was
conlirmatorV Of what mas 0cen generally
believed for some time past, but the in
cldcnt had some stimulating effect on
speculative sentiment as an evidence OF
stirring from the letharGy into which
all operations Of the kind have sunk since
the dearth OF capital resources has put
check to enterprise, Much was heard
of the sound conditions in the iron and
steel trade and the large earnings of
some of the leading corporations III those
Industries. Reports Of railroad earnings
were satisfactory as rule, the heavy
additions to Southern Pacific 8 operating
expenses for April having a special cX-
planalion in congestion of traffic ana In
terrupiion by storms The Great North
ern reported an expansion on gross earn
ings for Nav OF over IS per cent. The
average increase OF net earnings for April
of all railroads thus far reporting shows
a percentage of more than So. compared
with last year.
Another drop in the London price Of
copper did not preclude the copper stocks
from sharing In the days rise here.
Foreign exchange made 2 further ad-
vance and discounts and money rose in
London. Further outgo of gold by Sat
urdavs steamers was accepted as Ger
tempt TO take profits prices yielded rather
easily. as their own buying had been
principally responsible for putting prices
UP The closing tone was heavy.
Bonds were irregular. Total sales, par
value, s95s 900
United States old Is registered cd
vanced ] per cent and the new Is de-
cllned I per cent on eCall.