The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-12-04
Prices Of STOCKS
| NOW TURN UPWARD
of Conditions in Mar
sket Without Any Definite
Explanation.
PROSPECT OF STRIKE
SETTLEMENT ENCOURAGING
ConditiOnS in Labor and Rail
road World Important Fac
tors at Present.

NJ NEW YORK, Dec. 3.-Prices OF stocks
burned upward today, without any well :
defined explanation for the reversal oi
market were. for the most part denials
.Iof assertions current yesterday which
Ncaused prices TO decline, or renewed as
aartions OF changes in The course OF
events which were depressing the market
Yesterday. Reports were circulated that
({he switchmen's strike in the northwest
was not destined To a long continuance.
N ate in the day came n report from Chi
(cago that IT had been settled. The hope
mi feeling over this relieved the mar
Iket from considerable pressure.
n The break in relations in this labor dis
pute has involved a good deal OF uneasi
ness in financial circles. The necessity
for wage adjustments on a comprehen-
hive scale had been admitted for some
I1lme, but there was apparent confidence
fhat negotiations would bring a peace
,nble settlement. There have been reports
calculated at various times of general
movement on the part of the eastern rail
roads 10 advance wages as a concession
To possible demands expected. Since the
IswItchmen went out in the northwest the
fear has grown that the trouble would
Ispread and oYerturn the arrangements
FOR smoothing over troubles of this kind.
There was n change of feeling on the
Isubject of the forthcoming message of
the president to congress; II was said
today that reports from Washington OF
radical recommendations to be incorpor-
Iated In the message were not well found
led. ProfesSed forecasts OF the contents
of the message confined them within the
Hines of the series of addresses made by
the president on his tour of the country.
This tendency to reverse the opinion OF
|thIngs was taken TO point 10 profess
sional origin for much of the dealings III
Ifhe market The announcement of the
|acuulstion OF majority OF the stock OF
the Equitable Life Assurance company
by j. p Morgan, together with the con-
.trol of the Equitable and the Mercantile
Trust companies involved, was of impor-
|tant effect The transaction was viewed
In connection with the earlier acquisition
'of the Guaranty Trust company by a
mariner in the firm of ]. p. Morgan &
Co The prodigious Capitalization in the
directing power of credit institutions re-
sulting from this suggests a line OF policy
|of the country, which seems 10 indicate
confidence in exemption from effective in
Reference IN the processes OF combina-
ton and consolidation.
.erations in United States Steel on ris-
ling scale was not disassociated from this
Feeling.
Preliminary estimates OF the week s
currency movement show some very
strong cross currents in the movement;
Sub treasury operations. including depos-
{ its for telegraphc transfer TO san Fran
cisco. have absorbed S6,i76 000 and the
gold outgo to South America has taken
s5 $50 900 more. Gold has gone TO Can
ada also in large volume during the week.
Yet bankers compute sufficient return
/ from various domestic points TO cut down
/ the net decreases In the cash item to
Hess than 50, 100000
The loan changes are obscured, owing
I to the effect OF the December l dis
'bursements and the deposits against the
retirement Of Chicago. Rock Island d
Pacific railroad collateral 5s. III connec-
Ition with the sale OF the st. Louis y
San Francisco. The call money rate did
mot get above per cont, and this some
what easier tone In that department was
'statemcnt
Bonds were irregular. Total sales, par
VALUE 81, 100000.
United States bonds were unchanged
On call