The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-03-08
CONDITIONS
ROVE
SLOWLY
Reports Made of Large Sales
Of Refined Copper at
Higher Price.

New York. March THE iron and
steel movements of the last week In
the stock market were the reflection
Of the uniformed sentiments of the
traders. Dealings were small and
largely In the hands OF professional
operators. Thc disturbing influence
TO have passed to some extent and
in that trade conditions were report
ed TO have cleared somewhat.
Price concessions In steel products
were reported as still in power and
the pointing of wage reductions by
the Lackawanna Steel company open
cd up that phase OF the process OF re-
adjustments going on in the steel in
dustry and Improvement In copper
have been made
Reports OF some large sales of re-
fined copper at price above the re-
cent average and OF specifications
promising yet larger transactions
we're circulated in demonstratiVe
manner and market quotations were
marked up in London and New York,
Criticism of advance as manipulated
and suspicion cast upon the reports
of sales had the effect of causing
sharp elapses in the prices OF the cop
per industrials There followed then
reports of collapse in the copper
market and of open market conditions
which met with counter criticism,
threw the whole situation into con-
fusion.
The labor outlook was clouded by
the preparations making for the strug-
gle in the anthracite trade incident to
the termination OF the wage agree
ment on March 81. The demands
formulated on the one hand by the
miners and the argument against the
claims published by the operators rep
resented the grounds OF difference. An
incident was the circulation of a ru-
NOR of the intention to shut down the
anthracite mines on April l, until
settlement with the miners should be
secured.
The pendency of the commodities
case decision is one Of various Incl
dents which directed attention to the
consideration of government proceed
ings against corporations. The inau-
2uration of the new president was
studied by Wall street for its bearing
on this subject for the most part The
determination expressed by Mr.. TAFT
Ia adhere TO his predecesSor's poll
cies had been known from public ut
terances of the president and afford
ed no surprise. The financial com
munity processes TO feel an assur
- ,trEss f1r
restrictions on the part OF the new
president than has been the rule, and
Of corresponding gains in orderly ad
aptation to prospective changes There
Is not lacking an undertone Of ques-
tloning whether the new policy may
not prove a more effective instru-
ment against corporations than the
old The refusal of the New York
public service commission TO grant
the notifications asked for in the
terms of permission of the Erie bond
the new bond IN which corporation
actions are held. From the interstate
commerce commission came another
note in the same tone in the opinion
handed down in the Spokane rate
case The rule there laid down for
forming conclusions as to the reason
ableness of freight rates and the eX-
plicit announcement that recent
Great Northern and Northern Pacific
profits had been excessive, opened up
a field for conjecture regarding the
business of all the great transconti
mental railroads.
The financial community keeps an
attentive eye on the crop news and
the questionable state of the winter
wheat crop Is regarded as offering
ground for caution in accepting the
confident assumptions OF the future.
Money rates have declined again and
ready absorption of new bond issues
Is still reDorted