The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-12
|Il[N CHECK TO
I|LD SPECULATION
laxative Element Realizes
mai Limit of Safety Is
Exceeded.
81 FEW DAYS HAD
MENACE OF DANGER
viuan Stocks Have Been
.,ture of Almost Unprece-
dented Activity.

rW YORK. Nov 1l--Todays sequei
.,dsv's market performance IN the
rsyriu,an Pacific stocks opened the
y The more conservative element 10
~ that the speculation was enter
,sckless and hazardous stage.
!. same a pause to take stock of the
.,,or and the development OF greater
q, IA the conduct OF market opera
ghtch was shown by the evident
,,,r Of speculative holders and de-
h the rates OF activity in the mar
r,s,e was a belief prevalent in the
~ district that these results were
- "a some extent by resula;ive
rrss amongst the large financial IN
~ ard hanks, which saw In the
''s,e 90 course OF the specu latfon a
y n peril and the seeds OF harm to
eaorss Of improvement and expan-
.crooarIson OF the action Of the
hs-n Pacific and Union Pacific d.
~ In confirming themselves TO the
<,stion OF the dividends at the rates
n have prevailed for two years with
-6rlllsnt hued rumors which were
L n circulation yesterday In c''nnec-
<ifh The volatile rise In those. tocks
\ @ @Warnine that proved sufficie 1t as
- EroTn N25, at which Southern
"a lsst an Monday, its rise TO 1l9s
"a closing price on Tuesday OF 117S
sreomplished by recorded sales at
-lnck exchange Of 201, 500 shares.
~ reported today numbered lSS,3oo
a an which the price fell back to
r,nsine al 116. As the total COM
abaYes OF the company number only
4 10. the manipula tive character OF
"A al these transactions may be fis-
a Two DAYS dealings In Union Pacific
4 total of $50. 200 shares with a
4 rehabilitation Of s1,e54.ST9. 1t was
rsason!ng from those facts that
IA hssty unloading OF speculative
|lnca and invited professional at
nH which broke the market. No un-
|nhle news Of affairs accompanied the
ID News from all quarters, on the
Isry continued uniformly favorable.
Ia may have entered into the consid-
bon the impossibility OF Indefinite con-
snee OF extreme ease OF money with
u1tained revival In trade activity and
|DkIons and Improvements The time
~ market, IN fact, continues 10
Ia ard there IS reported a notable
1zse IN the supplies of mercantile
., rejecting the enlarged activities
z<rrhants, joboers and manufacturers.
he was flxed today for sale on No
|baB 2S OF sl2.500. 900 Of per cent cor
70 stock OF the city OF New York,
j |p1rernment's Panama canal bond Of
zs this month Is expected to amount
E1o0D.00Q. and the effect on the money
tsl1 Of the redemption OF the S1,000,-
.tYe1gury certificates falling due on
|11ber 20. and the shifting OF security
p bank notes for which these certifi-
= ware deposited offers some ground
tonjecture.
|nquirements upon the money supplies
rsculation Itself conducted at such
- has been held last week and this
M make inevitable inroads on banking
lles. II was clear, however, that the
fipal Incentive to the selling which
the market was the very large
g which have accrued on speculative
'hss With the rapid rise in prices.
a the instability or the market was
<<iyed the inducement TO sell out was
,essd, y widespread general demand
:nled In evidence and helped to alb
Inc proht-taklng. Foreign markets
puyers here. relieved ny the clear
y the International outlook.
|t!ous supporting measures were en-
Al all stages of the selling, show
9e continued control exerted by the
lned forces In the speculation. The
1y precision with which the specula-
nes diverted into the low priced
oan stocks was evidence OF this.
a stocks came up strongly in the
lauy on covering by the days short
ana II is in that class that the
cams were found. reaching SUBJ
pel Proportions.
g H,72s, 600 ho
H'sa atates bonds were unchanged on