The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-10-22
BOOST MOVEMENT
WELL MAINTAINED
Professionals Use Influence IN
Lifting the Prices of Wall
Street Stocks.
TRADING MORE ACTIVE
THAN ON DAY BEFORE
MANY Stocks Are Dealt in, but
a Few FavOrites Still Take
Lead.

NEW YORK Oct, 21.-The aggressive
operatlons TO lift prices Of stocks which
commenced in volume yesterday were
continued energetically today with no
news development as basis fer the
movement The number OF shares trans
ferred had risen by noon to q total as
large ss the aggregate for the whole day
yeaterday. The number OF different Is"
sues traded in WAS long one, and IN
cluded many issues often inactye ioE
long periods. The great congestion OIL
activity In n few favorte speculative
stocks continued. however, distinguished
feature OF the dealings; This was espe-
and ST Paul came into close sympathy
with them Reading had its usual prom
inent place, and the Hill stocks. the cop
per industrlals and United states steer
being added. the overwhelming prepon-
derance Of all the transactions LOT t"e
day would be accounted FOR ..
Some Of the rutnors IN clrcn!aiion 70
do with Individual properties but the
lnainstay of the speculation was the
rather mysterious ausions 10 important
developments In the political field which
were regarded as releasing the specnla-
ton for some of the bonds OF uncertainty
which have held IL. The expression is
quite universal in Wall street OF the ieel-
ing that promptly with the passing OF the
elections there Is TO be an outburst OF
public demand for securities for invest
mept and for speculation.
il is expectations OF this demand which
prompt the professional demands for
stocks at the present time. That reliance
Will be placed on this expected demand
10 absorb considerable volume OF pront,,
taking sales Is safe 10 assume from all
past precedents. The eager expectancy
felt In the financial district Is indicated
by the general intention by brokerage
houses to have their offices open on the
night OF the election and IN the follow
ing morning Publication Of election re-
turns Will be provided. but the primary
intention Is 10 afford facilities for early
action in the market, by cabling orders
10 the London market, II necessary, be-
fore business has begun in New York II
was this eager spirit regarding the ef-
fects 10 follow the election that was espe-
cially appealed TO In the speculation to-
day.
The most important OF the professional
traders dealt very largely. and In fact
concentrated operations were the rule
both on the buying and the selling side.
Some OF these were attributed TO I'M
portant banking and inside interests In
the various properties. the inference be-
Ing drawn, however, from on more sub
stgntlei evidence than the personality of
brokers executing the orders, Yester-
days reports persisted concerning South
ern Pacific and Northern Pacific. OF the
intended retirement OF the preferred
etock In the case Of the former and OF
projected extra dividend disbursement
in the case of the latter.
The st Paul movement WAS accom-
panied by talk of the large profits TO
accrue from the early operation OF the
Pacific coast extension. 1t WAS common
remark on the floor Of the exchange that
stocks are In strong hands," that Is
are held by interests that can withhold
them from sale except on profitable
terms, and that consequently prices can
be easily advanced when favorable con-
dltons arise. They were. In fact, easily
advanced today, and quite firmly held
without effect from the profit taking
sales invited by the rise: except for
Northern Pacific,
Bonds were firm. Total sales, par
value, IS 10000.
United States bonds were unchanged on
call