The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-07-10
NO ATTENTION IS
GIVEN TARIFF BILL
Passage of Measure Through
Senate Does Not Disturb
Market in Any Way.
GENERAL FEELING Is
PRICES ARE TOO HIGH
Result is Lack of Activity, as
Spectators Prefer TO Await
Coming Developments.

NEW YORK, July 9.-Thc professional
contingent in the speculation took is cue
today from the failure Of yesterdays
market to respond 10 the favora BILE show
ing OF the government crop report. There
wac no difference of opinion as TO the
prosperous promise of that showing in
It's yield or crops in excess ot any pre-
Vlous year valuation The wheat mar
ket showed some disposition today 10
take more account Of the deterioratio in
spring wheat reported by the agricultural
department, than was done yesterday.
suspicion of the level of prices for buy
Ing basis seemed 10 he more potent than
inc evidence OF great progress In the
countrys affairs.
The money market remained extremely
easy, and offered no discoma cement to
the operator in stocks on margin. While
interest rated low, il did not escape no.
tfcc that the heavy accounting of bank
Ing cash estimated this week came from
other sources than the interior move
ment. the. operations OF the subtrcasury
contributing fair proportion. The large
government disbursements which con
tributed TO this result included some spe-
clal payments on account OF the Philip
pine government, which do not figure in
ordinary government accounting. The
inflow Of cash from the interior. while
reaching the considerable total OF
Sf,o0o.00o, Is somewhat less than half OF
lsst week; IT is expected that interior
banks VIII draw on theh New York
banks largely 10 effect payment OF gov
crnment deposits next week, under the
Some isturbing effect was produced
by the heavy shrInkage which has been
going on in the price Of some of the rail-
roads which failed TO weather tho storm
OF last years depression and which arc
now undergoing reorganization. The
drastic assessments threatened in some
OF these cases serve 10 dismay the hold
crs and sales at q sacrifice have followed.
An example I'm point today was Western
Maryland. which sold as low as II. The
mercantile marine securities reflected the
poor showing of the annual report al
though that was published some time
since.
The group Of transit lines on Manhat-
tan island gave further indication OF the
stormy path they have had TO follow The
monthly statement OF the Copper Produ-
cers association was read with interest
and, while superficially favorable gave
no help TO the market for the copper
industrials.
The months reduction of surplus
stocks was l.6iO, 1870 pounds greater than
occurred In May. but the present demand
for refined copper is pronounced torpid
and prices have sagced In the last few
days. Published reports OF doctors con-
Sultations over the condition of Il. II.
Harrlman's health while yielding encour-
aging opinions on that subject. serve to
keep in view topic which gives concern
10 holders Of securities, The passage of
the tariff bill through the senate received
no apparent attention.
Bonds were steady. Total sales. par
value, $3.ISS, 900. United States is reg
istcred declined per cent on call