The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-06-20
WALL Street At
A STANOSTILL
Attempt of Professional Trad
erS to Revive Interest Met
With No Response.
CALL LOAN RATE HIGHER
BRITISH CONSOLS CONTINUE
DOWNWARD.
CALL LOAN RATE HIGHER

New York June 19.-SpecuIation in
stocks was practically at a standstiII to-
day. The professional traders attempted
TO make something of the Reading di-
rectors' meeting. but little success at
tended the efforts to revive expectations
that the dividend would be made The
trading in Reading during the first hour
represented the effects of these efforts.
Small as was the result it amounted to
a large proportion of the days aggre-
gate transactions. The price movement
was almost equally insignificant. The
SZ,0v,O00 gold engagement for shipment to
Paris, added to the 81. 900 900 which went
out by. today's steamer, was about equal
10 estimates. Paris also took 81 lg0 600
from the Bank of England today. For
elgn exchange showed some slight effect
but the recession was not sufficient to
preclude the possibility of a continuance
of the gold outgo. which has now reached
the sum of $l5.90O,0OO since the movement
began.
Foreign bankers are not disposed TO see
any warrant in this movement for supDos-
ing occult political or other troubles to
be fOreshadowed The possible position
OF the Bank of France offers sufficient
explanation for the efforts of that insti-
tuition towards recuperation. On June
- its gold holdings amounted to S544S15.-
80. compared with S5SS. 3SS. 755 on June H.
1906. The statement for the previous week
shows its bill holdings to be $50. 800 900 in
excess of a year ago. and its note issues
q S29 100000 on the same comparison Even
he receipt of gold now in transit for
Paris. it will be seen. will leave n consid-
cradle margin of recuperation still to be
effected before last years position Is
equalled. The influence of the movement
IN New York bank reserves Is none the
less important. The rate for call loans
was higher again today in spite of the
almost complete stagnatiOn of the stock
market. and rates for time loans rose.
20 h. ,T~F,
stock market Is being treated is explained
h. the money outlook.
The threatened prospect of labor trouble
IN the teleCraphic field was not a help to
the market. while not directly harmful.
Advances in express company stocks re-
f'Acted the expectation that the example
Cf the Adams Express company will be
generally followed in anticipation of the
operation of the Hepburn law. calling for
more detailed accounting by the express
oomnanies The price of copper receded
in london again today. and was also
MARKED down on the metal exchange in
this country. The movement of the price
nf the metal keeps sentiment on the cop
no. securities unsettled and gives Dlausi-
hilitV to rumOTS of unstable conditions in
IL" market for metal as a whole
The weather conditions reported in the
rTOn regions continued unfavOrahle and
confidence in the progress Of the crops
WIS undisturbed- Some attention was
Maid to reports Of an intended threaten
ing of the naval force in the Pacific with
n view Of nossible International difficul-
t'@s with JaDan. A new low rate for
British conSOlS IN the London market was
an incident of the dav. The adjournment
- the directors without action on the
7ividend resulted In 2 rise IN Reading. hut
there was no revival in the rest of the
market the closing tons remaining irreg-
ulor and uncertain.
Bonds were irregular. Total sales. par
value $3.50 00h
Tinted States old tours advanced i per
cent on call.