The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-11-02
ELECTION GAME
REACHES LIMIT
Orders in All Departments of
Industry Will Now Be
Released.
WALL STREET BAROMETER
SPIRIT OF CONFIDENCE AND
HoPEFULNEss DISPLAYED.

New York Nov IA spirit of conf
dencef in the political outlook and hope
fitness for the future was met in the
financial district last week and found its
reflection in the firm undertone of the
stock. The action of that index of cpin-
ion was affected by the near approach
of the national election. owing to the
fact that that event has been looked for
ward to as marking a definite period OF
repression and withholding OF orders IN
ali departments of industry, which would
he released for execution. II would not
he easy 10 exaggerate the part this feel
ing has played in the iong-conunued ac-
emulation of stocks and the substantlal
advance in prices that has occurred. 80
much having been achieved In the adjust
r,ent of values to the expected results. Il
was natural that there should pc dis
position to pause on the eve OF Tue dr.
rival of the period. There was even per
ceptible tendency to anticipate the
event by the further step of realizing
speculative profits accrued. which caused
some unsettlement at times III the price
movement.
effective control in which il Is held and
which is believed to be exercised by
groups of the wealthieSt capitalists IN tne
country was not relinquished. The stock
in which the movements are most influ-
entail on the general tone of the market
advanced TO high levels for the year IL
is necessary 10 go back To the opening pc
Rod of 1907 10 find record OF prices
higher than those touched last week by
those stocks. In January of last year
Union Pacific touched 1SS, compared with
l737s last week and the high price of
United States Steel at that time was oV7s,
compared with 4S2s last week.
The tonnage of unfinished orders on the
books of the United States corporation
on Jan. 1. 1907. was LASS. as. and on oct i.
1905 that item stands at 32l9I Earn
he 1hnr mn IF
were $4l. $50 125, while for the quarter just
passed they amounted 70 s27.1o6.274. That
much has been accomplished toward res
toration of price level for securities
commensurate with the recovery in bust
ness is inferred from such comparisons.
and this inference was motive for the
sales TO realize profits on holding of Sc
curities which were perceptible during
last week in the stock market
The progress of the recovery in general
business was in evidence from various
sources and was an influence in MAIN
tanning the firm undertone of the stock
United States Steel corporation was an
effective factor in maintaining this con-
fidence.
The advancing tendency in the price OF
copper was traceable to similar causes
The reports of gross earnings of rail-
roads for the latter weeks of OCTOBER
show increasingly favorable comparisons
with last wears earnings. which were still
at large advances over previous years,
the effect of the financial crisis not hav-
1 ing yet appeared Reports of net earnings
/ for September have the advantage of the
| effective economies in operation costs
| then enforced and which compare with
/ the period of a forced extravaganza in
! that item last year owing to congestion
! of traffic, car shortage and other condi-
! tons which made the rate of operating
I cost very high.
! The situation in the money market Of
/ fers undisturbed ease.
| Get our price first or hay. grain and
Douls Y Supplies. Noeeler Seed store.