The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-11-02
MARKET VERY DULL
BEFORE HOLIDAY
Operations Are DesultOry and
Without Much Interest in
Any Specific Line.
FOREIGN EXCHANGES ARE
ALSO TAKING 4 REST
Reported Large Sales of Copper
DO Not Boost Allied
InduStrials.

NEW YORK. Nov. 1.-Operations in
stocks today were of an exceedingly
the market was languid in advance on
the holiday tomorrow. Tho observance
of All-Sants daY In London and Paris
today also subtractcd materially from the
volume Of the days business and de-
prived the market of an index of scnti-
ment on the International money out
look. which is much relied on at pres
ent The money market proper sent en-
cour1ginE news from abroad. and this
was prime factor In the carly rise in
prices OF stocks here. The weekly state
rncnt OF the German bank disclosed some
heavy inroads on resources. incident TO
the November settlements. and the pri-
vate discount rate In Berlin rose a frac-
ton
The Bank OF England secured all of
the S3.0O0O0O South African gold arriv-
Ing in the London market without COM
petition and at further recession in
the price. which wipes out in effect.
the recent premium over the obligatory
price 10 be paid by the bank which has
prevailed while other centors were com
petine for London gold supply. This was
looked upon gratifying evidence OF the
satisfactory progress Of recupcration In
the Bank of England's condition
The effect was helpful to the New York
stock market Notwithstanding the alb
sence OF direct operations in the local
stock market on behalf of London
There was a striking diversion TO low
priced industrial stocks and specialties
Will" me more prominent trading stocks
were neglected. The minor members OF
fhe steel group especially the railroad
Equipment stocks. were conspicuous Tho
in1uX or new orders for equipment from
Tho railroads was partly responsible for
This movement
Something was made of the reported
large sales OF copper during the last few
'days. but the copper industrials did not
hold well and saGCcd with the receipt OF
eorpe- quotations from London. showing
u decline in prices.
The speculation looked somewhat ask
new Pennsylvania stock issue. which
was al n lower price than had been
anticipated. AS between Ih,, Increase |
yauc Of the subscription rights 10 the
individual stockholders and the low
'rredit for the corporation involved I'm |
me ISSUE at par OF q stock selling in the |
parkct I'm the neishborhood oC 1iS the |
appraisemcnt Of the opera ton was some !
what confused
The resort 10 n stock issue AT all in !
place Of bond issue is TESTIMONY 10 the |
Ianltv investment demand for fixed in
marked in the stock market during the |
ater stages Of speculative demand for
stocks "
!. The per cent dividend rate now OK
sting ON Pennsylvania railroad stock and
rit UNCHANGED by the dav's declaration
pay Tor new Caplt9l. The proceeds are
10 provide for the payment of $50 600
phn OF collateral notes which bore : nor
cent and ot 500. 0h0 600 OF Der cent
bonds falling duo next year
! Ihe stock market tone became some
Prnnsvlvana directors action.
n ,'onds We're irrcgullr Total sales mar
value SI.is%. 00n United States . de-
ellned per cent on call.