The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-23
SPECULATIVE MOOD
is MORE CHEERFUL
Tone Remains Subdued, Owing
to Firmer Tone of Call
Loan Market.
..YALUES OF RAILROAD
SECURITIES SUSTAINED
Improvement in Iron and Steel
Trade Taken as Satisfac-
tory Omen.

4. NEW YORK, April 2:.--The specula-
tive mood in the stock market today took
on more cheerful hue although In
somewhat subdued fashion. Stocks that
we're sold yesterday Were purchased to-
day and the upward movement became
more uniform and consistent than the
batting and Irregular decline of yester-
day The SuDdued tone OF the specula-
ton may be justly attributable to the
{hrmer tone OF the market FOR call loans.
rates for that form of credit ranging
above per cent again today. The
money market situation c%acts no ar
duuus terms from borrowers and there
.ls no apparent expectations that il Will
immediately do so. Gold continued TO go
out In small parcels. and the inflow from
pthSI sources npcS NOT Hoif tha" pIlSsC
it. Foreign exchange rates were lower
Today. however Meantime the ban ac-
count continues TO expand and additional
issues of new securities are still in pros
,pect Yesterdays payment OF installment
(. OF subscriptions on the new Southern Pa
.cific convertible bonds is given credit for
credits that is. influencing the call money
market The intention 10 refund high in
terest- bearing bonds OF the Chicago,
Burlington & Quincy railroad was an
The Improved financial position Of many
railroad companies as result OF loans
Ing Influence for values. Another sub,
stantial support TO confidence is found
in the subsistence Of apprehension over
the grain crop position; This is partly
rment in Tho price of wheat. which was
continued today. Cheering adrices OF the
condition OF the growing winter wheat
crop and OF the spring wheat seeding
Were added 10 this symptom. The lm.
preston made by cXtravaSant claims OF
.depleted stocks OF grain in the interest
,of Speculation Is thus diminished.
The rcvivinS demand for pig iron is
considered Of the utmost Importance as q
barometer of basic conditions. and re-
ports were in circulation today In the
financial district that the earnings OF the
United States Steel corporation for the
next Tuesday would he found much bet,
tter than currently estimated. Special
strength in the New York traction stocks
WAS traceablc TO the reports OF earnings
hands these properties are held. The eX-
pectation was expressed OF an early
.aereement on a wage settlement between
fhe anthracite miners and operators
growing out Of consultations stu in prog
ress. The collection OF favoring 3nhu-
euces overbore those OF less promising
aspect.
No more was heard OF L. II. Harri-
man's proposed trip 20 Europe and the
fears regarding mis- health that were pro-
fcsscd Yesterday. The al djournment OF
the Chesapeake * Ohio directors wN-
out the hoped for increase in the divl-
dcnd did not cause serious reduction IN
the price of the stock The announce
mcnt that the Pennsylvania had rcpur-
chased the Norfolk & Western stock. sold
some time ago Ia It's bankers during the
height of the anti-corporation agitation:
was considered highly significant OF the
managers regarding the tone OF pubic
scntinIcnt toward them
The bond market showed notable
Breadth and strength Total sales. par
United states IS, coupon. advanced /
per cent OH call.