The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-09
Stock Boom Far Greater Than
Anticipated by Most Opt.
mistic Spectators.
REVIVAL OF ACTIVITY
IN INDUSTRIAL WORLD
Capitalists Look Upon Election
Results as Showing Change
in Sentiment.

NEW YORK, Nov. s.-The release
Of much industrial energy. held IN re,
serve pending tho national election, was
counted upon with the passing of that
event. The record OF the past week in
that respect was in agreement with The
confident expectation universally held
in financial circles. In the response OF
the stock market to the situation, how
ever, there was q genuine surprise. 4,
The speculative medium of events 70
come, rather than those already ac-
compllshed. the action of the stock
market indicate that the extensive ad'
vance in prices which had OCCURRED
over the level of last years depres
sion, while fully commensurate With
the improvement then In sight IN the
courtry's affairs, did not begin TO
measure the hopes Of the ultimate I'M
provement to occur.
The outbreak of fuIore of specu
lation last week is the more remark
able in view of the accurate predlc-
tions of the result of the election, SO
far as the great parties were concerned.
which were current aud were accepted
IN Wall street before the decision at
the polls.
Big Offerings Expected.
| It was the common expectation OF
| the professional speculative element.
based on these conditions, and on the
! fact that prices were brought on the
eve OF election to the highest level OF
the year, that abundant supplies ot
| stocks would be offered TO meet every
possible demand which would be at
! tracted from the less practiced speeu-
lative public aud from Investment
sources.
street who had not given the advice
that the first day ate. election rise
in prices would be followed almost GER
.tainlY ,bys-a sharp reaction. The iu-
! rush of the new demand for stocks, on
| the contrary. has been sufficient t.
sweep up all selling TO realize. with a
sustained upward movement OF prices
The news of the week contained
| plentiful evidence of the quick move
ment that has occurred toward revival
of industrial and commercial activity
following the election. The response in
this field apparently exceeds as much
tho expectation as does the market
movement Of stocks
One apprehension dispelled by the
result of the election, and which was
| lost sight of IN the consideration OF the
| larger results. was that the minor po-
litical parties would reveal q growth
! of revolutionary doctrines that would
serve as portent of future dangers to
capital and property rights, even if no
concrete results were achieved.
Revolution Of Sentiment.
The unimportant part played by tne
minor parties seems to have dispelled
| this anxiety entirely. There can be no
doubt OF the fact that the financial
! sentiment has read In the results OF the
| election q revulsion of sentiment 10
! the country from the spirit OF hostility
TO capital as IL is embodied in the
great corporations. Judge Taft
| speech to the Commercial club of Gin
cinnati. although protesting adherence
TO the Roosevelt policies and warning
offending corporations OF the purpose
to pursue and punish them, was seized
upon with avidity to indicate immuni-
| ty from further irksome restraints
with furious effect on the speculative
excitement. The decision Of the
Northern Pacific directors to distribute
! SI3.26 per share OF concealed assets y
TO It's stockholders was interpreted as
also q Drawing of formerly hostile pub
! he sentiment.