The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-07-16
STOCK PRICES
! GOING HIGHER
Nh News Developments to Ac-
" count for Continued
Rise.
SELLING PRESSURE LIGHT
,,,t7lcs EVIDENTLY CUT NO
FIGURE.

-. Work July l5.-There were no strik-
-. new developments TO account for the
Is,ber advance in prices of stocks to-
The buying was based on the gen
saii az ;r,nroyement in the speculative sit
ZION Commission houses reported some
s1AAssrate and scattering increase in orders
r,ieee llaneous sources, but the trans
..s,tons remained largely in professional
s.nds and partook OF the manipulatlve
I.rscter usual In that class OF opera
sors The decisive fact stood out prom
ssntly. as was the case yesterday that
tHne-sased selling pressure was light. as the
- ~ prices was lifted, thus leaving
.t. nav unObstructed for a continuance
AZ the advance Ihere were occasional
es.,hacks In the movement which seemed
= :. due as much TO pauses in the bull
~ operations as TO any active selling
pc limited states Steel there was some
.arifest selling TO realize. part or II COM
w. from foreign quarters. This was alb
armed with confidence and that stock and
- nreferred stock proceeded to a new
ESb price for the year These stocks
scsstituted an effective leadership for the
.,Lole market. their persistent strength
s.T;ng strong sentimental influence in
.sntaining prices elsewhere. A number
A. Industrial stocks. including most of the
Esinctively iron and steel industrials,
-snt 10 the highest prices OF the year.
amslramated Copper. National Lead,
c.rfral Leather and United States Rub
~ we're examples in the class OF indus
.s,ls The railroad lists shared in the
Avs strength. but offered fewer in
ssnces OF high record prices. However.
Tnion Pacific following for dividend re-
Sgction) Northern Iacific, Atchison and
Canadian Pacific were at the years best
prices today.
fTbs Canadian stock Is helped particu-
,,rl, BY favorable reports of wheat crop
prospects in its territory. and by the
AMID development of some of that terri
tory Crop news. generally, was favor
sbls TODAY as was indicated by the de-
Zine in prices of grains. The generally
cheerful view of prospects which is OBJ
tanning a foothold in financial circles was
fostered by confident views experienced
n published interviews by several lead
rg financial authorities. Probably some
nsrt OF the underlying strength of rail-
mad stocks is due TO the conviction that
processes OF readjustment of freight rates
: being worked out by the railroads OF
the country which Will result IN an IN
crease OF the revenues derived from their
traffic News of the filing of notices
zlth the Interstate commerce commits
s;on OF new rates shows the movement
70 be widespread and the changes TO
-,present increases as rule. While moth
ng like a general increase has been at
tempted thus far, II is not believed thai
IN. result will be sought in piece meal
manner.
Shipping interests are by no means
srsed with the contention of the rail-
ros;s that these increases can be insu-
trt.t without perceptible effect on prices
AZ Commodities, and can thus hope TO
s.cape complaint and criticism while
.nsbiing the railroads 10 cover the margin
81 fixed charges and moderate profits.
Without cutting down wages OF employees
In spite of protests of shippers IN Narl-
sus ORGANIZATIONS IL Is evident that the
Increases or freight rates are going on