The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-10-29
lRC|NG PRICES OF
dTOCKS DOWNWARD
Element Appears
sa|Irrayed Against the Big
81 Financial Powers.
'EMPT TO UNLOAD
lLARGE HOLDINGS FEARED
kral Feeling of Relief as
nd of Great Political Bat
tie Draws Near.

n YORK. Oct 2s-The downward
rnent OF prices OF stocks today was
attributed TO the efforts OF the
ssional element; Their motive was
In the conviction that stocks were
lsurpilcd on rising prices 10 meet am
le demand that developed. They pro-
10 detect distribution which they
ed 10 be for account OF the ilnan-
3owers which have conducted tnS
lative campaign OF the summer. II
hrgued from this evidence that a
IN course OF procedure was In con-
Alton after the election TO take ad-
OF any new demand ior stocks
might arise then,
sipposItious current In the finan-
Istrict OF the extent Of the specula-
-,oldings which are awaiting an op-
nity for liquidation reach such FOR,
|Anc figures that misgivings arise oil
OF the expected new ds-
w To absorb this stock and maintain
TIE response OF the market 10
Wnarterly report OF the United states
corporat tion was the immediate oc-
IN for this process OF reasoning OF the
tslonal speculative mind. The earn
utfor the quarter proved larger than
Vreliminary estimates heard yester-
Wa Wall street. The Increase In un-
: Sorders on hand OF l00,O tons over
T>fovious quarters end, while moder-
Mn amount, was distinctly encoufag-
an its proof OF bettermcnt in the trade
V(bWlnU the first arrest OF the diminu-
NM this item which has been going
icc the decline began from the high
. OF December 81. 1906. The showing
m fairly be claimed. therefore. as
Flzp 10 and rather exceeding the spec
st anticipation. The fact thnt was
rr-ns was that. after a momentary ad-
." prices sold off IN response To th!s
. rnewS.
3 Termination OF the political cam
4. on,
" the market has moved Tor several
With that occasion so near at
ITT IL was argued that the deterring
s1flt-taking until the event was haz-
s, IN View of the Indication afforded
e effect OF the United states Steel
.ntion's showing that influential
.s.H OF stocks were Inclined TO DIS
aet5f them on favorable opportunities.
irisons OF the present price OF Unit
htes Steel with that in prosperous
when puralelcd with similar COM
n OF the corppration's business also
III u some discrepancies, United states
/ sold today At isg. while the high
In January, 1907. In the high tide
lgn trades prosperity. reached only
Mkt that time the forthcoming quar-
sstrcport was 10 show n tonnage Of
Il orders amounting TO S,iSy. Us
AN which stands at the maximum In
story OF the corporation. The un-
E'ordors ou September 80 last stood
2i.977 tons. The earnings for the
I'M lbcr 81. 1906. quarter reached $il.-
~ u new high figure at that time,
-sr scceded In the juno and September
,.t.lrs OF 1907, the earnings rising In tue
y. .iuartcr 10 the record figure OF $l5.-
w Earnings tor the quarter just
r.. reached 21,I06,91t. There Is cN-
U1llion found In these comparisons FOR
sllnr that found place IN the specu-
u continent of the day, that the i'm
.nent In prices OF stocks possibly had
far enough 10 fully represent tho
nIltiu1 that has occurred In values.
KIh this feeling that accounts FOR the
'as'g tendency OF prices, although
az States Steel stock itself moved
" "uusgishly IN the downward move
s"' copper industrials gave way more
y, although the price OF the metal
sarked UP again at the local metal
igc. Foreign markets were more
al. by the peaceablc Views expressed
/ In emperor OF Germany In u reported
b were irregular. Total sales. par
"a .slS. 900
Bed :;tates bonds were unchanged on