The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-10-10
PRICES
GOING DOWN HILL
Apparently Everything in the
Financial World Is Creased
for the Occasion.
H0LLANDERS IN TROUBLE
RUSH OF SELLING ORDERS FROM
ABROAD.
H0LLANDERS IN TROUBLE

New York Oct s-There were evident
signs of renewal of liquidation OF securi-
ties today, the current selling with special
eiearances through the low-priced stocgs.
those selling below ~ being most affect
ed. The majority of the stocks in this
classification sold today at the lowest
prices of the year and MADE with de-
ciines in the course of the days dealings
Stocks Of this grade are faVorites In Hol-
land, and those that are most SO were the
most affected in tOday's Humiliation. The
selling orders We're said by commission
houses 10 come direct by cable from AM
Sterdam Aand were so concentrated ana
conspicuous as TO give rise to reports that
financial embarrassment in Amsterdam
was forcing the liquidation.
Other low-priced stocks both among the
railroads and industr1a!s, especially
among the non-diVidend payers. came into
the movement today. The Amsterdam
selling was attributed to difficulties pecu-
liar to that market and was not aSSocl-
ated with conditions ~ the properties IN
the stocks which were being sold. On the
domestic side, however, industrial and
financial conditions were an influence and
prompted liquidation supplementary TO
that for foreign accounts Growing ms
givings are caused by the persistence OF
rumors OF falling off in orders for various
classes of equipment and of reduction of
labor forces in several industries. Both
the railroad and electrical equipment
dissemination of rumors of this kind and
the authoritative denial of some of them
did not relax the pressure upon the stocks
Fears were expressed that the failure to
agree on the proposed new steel rail pat
tern would cause a large decline in actlv-
ity in steel. The United States Steel stocks
were Nspecifica . affected also by reports
of intended steel rail production by sew
eral rival companies. The reports Of net
earnings of railroads for August in several
recent instances show such inroads upon
gross earnings by growth of operating
expenses as to affect the net showing
materially. NOn-dividend paying railroad
stocks which have sold on prospects of
future dividends were notably influenced
by this situation. The effect was empha-
seized by the tone of annual reports TO
stockholders of railroad companies which
are now appearing numerOusly and which
quite commonly dwell on the disadvan-
tages of operation of railroad systems
by reason of legislative restrictions, high
cost of materials and labor and diff
Guilty of securing new capital by reason
of the public agitation against corpora
lions.
There was grave discussion of unsavory
disclosures of financial methods being
brought about by the inquiry into the New
York Traction companies and the bad ct
feet to be feared in still further impair
ing the credit of corporations Nothing de-
VelOped in the money market to abate this
discouraging influence. The weekly state
ment of the imperial bank of Germany
SIONcu q ucCllllc III CASH anu Dul MOuef-
ate recuperation from the severe credit
requirements Of October settlements. The
discount rate is easing in Berlin, how
ever.
The increase in the volume of the mar
ket and declines running up to or 4
points for some of the active stocks show
how effective were these measures on the
market.
Bonds were heavy. Total sales, par
value 81, 734, 900.
United States bonds were unchanged on
call.