The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-11-24
BUSINESS POOR
IN WALL Street
Prices Down and Considerably
Less Than a Million
Shares Dealt In.
SOME SOURCES OF WORRY
REAL TARIFF REVISION FEARED
IN SOME QUARTERS.
SOME SOURCES OF WORRY

New York. Nov. 23-Today's business at
the stock exchange was the smallest for
any dav since the election. The total OF
70 100 shares IS the only daily total below
a million shares that has occurred for a
full day in that period. This subsistence
of the speculative furore awakens some
regret in many elements closely adjacent
L. the stock exchange, but in the larger
financial circle of the Wall street section
there is an avOwed satisfaction with the
slowing down OF a speculative pace which
it was feared would prove perilous and
involve Interior consequences that would
be detrimental to the marca of industrial
and commercial progress OF the country.
This fear has found open expression in
the past few days from many influential
banking quarters. The closed interval
since Saturday seemed to have been taken
advantage Of TO disseminate this view
through the country. The wisdom of reg
ulatiug the pulse OF the recovery and of
keeping down feverish symptoms was en-
forced from various sources. There is a
tone deprecating any violent and sudden
boom in business. There were warnings
given also of unWarranted assumptions of
the progress already achieved in the re-
COvery and Of the Wtping out of possible
obstacles 70 be encountered. In particu-
lar there is q realization that the assem-
bling Of congress and the state legisla-
lures may bring some forces into action
that will chill speculative enthusiasm. IL
is supposed that this may follow from tbs,
too eNuberant views that spectators have
professed Of the extent 10 which anti
corporation sentiment in the country has
been appeased.
The taking up of the tariff schedules in
the practical work of a revision of rates
OF duty must be taken account of for some
disturbing effect. which the speculation
has been inclined TO ignore for a time Ths
stock market had clear limitations last
week OF the nature of the magazine arti-
Gle written by Andrew Carnegie leaning
10 tariff for revenue only and adVOeat-
ing the abolition of duties on steel, but
the publication Of elaborate extracts from
the article were not without additional eff
1ect. These influences were perceptible in
the consUaint on the advance in prices OF
stocks today rather than in any prospec-
tive depression The stock market. in fact
showed some tendency toward am uDWar
reaction from the sharp fall which was
in force at the close of last week
There was quite a volume of selling or
ders In the market at the opening. as tbs
atter-effect OF last weeks fall, and those
made the opening prices lower At Tho
lower level the professional traders on tn:
floor were disposed 10 work for a recoV-
cry on the ground that the fall had
reached such an extent as to invite q re-
bound. The WiDug out of weak accounts
on the long side and the building uD of a
short interest in the course of the decline
had improved the technfeal condition of
the market. On the recovery there was
q marked dwindli~g of the demand, which
served as notice Of the reluctance as vet
10 renew the purchases Of stocks on a
large scale An important part OF the
selling was for foreign account and this
was Of such effect on the foreign ex-
change market as TO keep alive the dis
eussion of possible gold exports. Anothe-
reilction in quotations for copper at the
New York Metal Exchange was a factor