The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-01
QUICK RECOVERY IN
STOCK MARKET
ssecuIators Seem Entirely I'm
yabIe to Account for Sudden
Changes in Sentiment.
FEARFUL OF RAILROAD
INVESTIGATION RESULTS
Highly Favorable Reports of
Iron and Steel Trade an
Element of Strength.

NEW YORK, Feb. 2S.-There was as
an abrupt reversal Of sentiment from
that OF yesterday in the stock market
today as there was on Tuesday from that
OF Monday. Today's sharp recoveries
placed prices quite generally on level
with the best prices touched in the re-
covery on Tuesday. The complete un-
certainty OF the speculative sentiment is
clearly defined in these numerous and
abrupt changes In the course Of prices
Todsy's recovery was as little account
ed for by any news developments as
have been the other movements OF the
week. Several items OF news that might
have received a discouraging intepreta-
ton were ignored. An important part
would be allowed naturally to the COW
erng operations of the bears in working
a rally after so considerable q decline as
has occurred. There was besides, an
appearance of support for the market
and of accumulation for important ac-
counts.
Some influence was attributed TO the
adjournment Of the Interstate Commerce
commissions hearing in this city. Opin-
Ions In the Wall street district OF the
bad effects on securities threatened as a
result OF that hearing were not altered,
but rather emphasized by the later
phases . o. The IN Investigation: It Is there
widespread publicity given 20 the heap-
Ing shall not awaken some distrust upon
the part OF investors and ordinary hold
erS OF securities
Commission houses profess Il conyic-
ton that the public cannot be induced
to buy stocks while these revelations
are fresh in mind. II is feared also that
chances OF enl!sting foreign capital in
issues OF American securities Will be de-
cIdedy impaired by the distrust aroused
by the results OF the investigation. Re-
ports we're published of a widespread
strike threatened among railroad en-
ployees IN the West and Northwest, but
this seems to be ignored,
,A.Importance was given the highly-fay-
eble reports from the iron and steel
k'ade and the great confidence expressed
bp authorities in that trade OF the
goupdness Of the conditions existing. The
head OF the United States steel corpora
ton affirmed that new orders were in
excess OF those coming in at this time
last year. although showing some re-
cessIon from last quarters average. This
sustained condition In that trade Is cal
culated TO go far IN quieting the apDre-
tensions Of a contraction in general bust
ness owing 10 the great reliance placed
upon the iron trade as an index Of bust
nes conditions as a whole.
Money was flrmer today, both on call
and on time There was supposed TO he
some calling Of loans going on In prepara-
lion for the March settlements, which
will oe unusually large The Bank of
Englands weekly return indicated that
II Is still In control of the London money
market. Discounts were easier in Berlin
The Bank OF France return was weak,
but sterling exchange In Paris rose The
profit taking in the final hou, was ali
absorbed and the market closed strong
and active.
Bonds were irregular. Total sales, par
value, SIl6200O.