The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-03-13
UNCERTAIN TONE IN
THE STOCK MARKET
Continued from Preceding Page.


plan provides for participation OF the
Hooking Valley TO the Chesapeake Ohio,
Lake Shore and Michigan Southern COM
panies. The c. G. o. will take the Hook
Ing Valley proper and the Toledo & Ohio
Central Will go TO the Lake Shore. Some
time ago told OF the negotiations OF Ed
win Hawley for this line, and the present
indications bear out the previous report.
The iron and steel situation is good,
although car shortage has hindered full
10 the Inability TO move coke and ore.
The earnings OF the Southern Iron and
Steel company are named at 81 1850. 900,
while 1t Is certain that the full plant will
be operated nine months this year. The
Tennessee company is going ahead at
fun head on the construction OF two bill
lion gallon lake at Purdy, which will fur
nish the Birmingham industrial belt with
The Birmingham boom is the greatest
in the history of the south. according
to reports
The one million dollar plant OF the
Raglend Cement company is nearing COM
pletion. The Southern Steel company is
taking steps to build another furnace at
which Is In the hands Of receivers. Will
soon be put into operation. The plants
Of the Horseshoe Rolling Mill company
Louisville & Nashville railroad has taken
over twenty five square miles in Cullum
county, Alabama, 10 found new indus
trial center which shall be composed or
expert German machinists.
The verdict of the appellate division OF
the supreme court Of this state. giving
the cotton exchange clean bill OF health
was an optimistic influence
The bond market is broadening and the
foreign bourses, acting in sympathy with
American markets, are firm Nothing is
attached to the action Of the Manches
when they bodily forced James A, Pat
ter from the halls OF the change yes
terday, That perhaps was merely an
exuberance of the English sense of hunor
unless they feared Mr.. Pattep would buy
the place.
AS natural sequence TO the profess
tional rise and fall of the stock market
this week. there was a period of apathy
today. The inactivity seemed to result
from cautious investors who are holding
aloof while the market is being In
fluenced up and down by several master
hands dealing In highly manipulatIve
stocks.
The foreign markets were sympatheti-
cally apathetic while London is awaiting
money developments.
The opening was dull generally. at
small fractional advances. Amalgamated
Copper started with a advance. which
rather than genuine accumulation.
United States Steel made an initial gain
OF and closed up. Hartman issues
showed good strength: Union Pacific clos
bullish activity In Rock Island. which
closed J higher,
After the first hour the market settled
quiet apd without special features. There
was great deal of liquidation by pro-
fcssional Spectators. iAmalgamated Cop
per, which was one OF the strongest
features In the first hour lost its gain on
profit taking.
The bank statement today did not give
n favorable showing. The bank reserve
decreased s371S.000 leaving an actual
surplus Of s7,7o0.oOo a very low figure
for this time.
The effect upon Amalgsmated Copper
from the transfer OF Its stocks from the
listed department" and the resultant
publicity of It's affairs; has no. been
more than noticeable. 1t save some in
teresting facts, however, showing the
grip which the corporation has upon the
Montana and adjacent fields
Unless the foreign exchange rises and
the Bank OF England promptly secures
sufficient gold TO check the depletion OF
its reserve. rise in the bank rate from
3 per cent 10 per cent will be mado
next Thursday. After the narrow range
OF trading. the New York market closed
uncertain and dull.
Call money ruled noplinally at % per
cent
Government bonds were unchanged
Industrial and railroad bonds were dull.
but unchanged.
The total sales on the stock exchange
were 22s,750 shares.