The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-17
WEEKS MARKET
VERY UNCERTAIN
Narrowness and Hesitation the
Chief Characteristics Of the
Past Few Days.
Va
CAPTAINS OF INDUSTRY
ARE STILL CONFIDENT
While Small Investors Are
Timid, the Big Men See
Light Ahead.
METALS
WOOL
PRODUCE
BY Leased Wire to The Tribune.

By Leased Wire to The Tribune.
NEW YORK, July 1s---The volume Of
was only sufficient to move the market
sluggishy. There were steady rises. then
sudden drops, and while the market is
technically better than II was last week.
il is suffering. and will continue to suffer
Tor some time TO come, from narrowness.
We are passing through a peculiar era
fairs The ordinary investors as Is al
ways the case when the market is down.
are holding aloof through caution.
Industry and finance, such as Judge z.
II. Gary OF the United States Steel cor
pora w. F. Cory, Jacob Schiff. the
Gonsolidated stock exchange; e. IT,
Bedford OF the Standard on company:
q. T. Jefery, chairman OF the Wabash
Rio Grande. James Clews. the banker,
and others, are breaking their customary
silence 81 nee to give voice to their confidence
prominent French capitalist this week
had letter published in a Partisan
newspaper. urging all Frenchmen with
money TO invest TO buy American stocks.
recalled great fortunes made by those
who bought while tho market was low
In 1907; The crux of the matter seems
order to coerce the administration from
lnadsrier,ng and nn1ib; further with the trusts
Every circumstance, no matter how
slight; which has a depressing influence.
Is Is ,,i,sg being seized upon as pretext for
campaign. they disguise the real facts
They cannot hide the dividends which
are being regularly declared nor the rail-
| road earnings. and they cannot keep the
public from seeing that with the possi-
Die exception Of wheat, crops will be big
ger ger this year than last The circumstan-
hidden, and yet the market continues
sluggishly along, with Wall street echo
Ing the cry: Keep politics away from.
The banks are beginning to gain V<
operations with the sub-treasury IL
with the incoming OF gold from abn L
1ne money market should become uln
easier with a receding rate. There Is n
demand for accommodation from stocli
exchange quarters.
rency movement in and out of New York
CITY banks show a net Inflow OF cash
OF Slo61l 900. On the operations with the
cash into New york '%s Wss nsI $780, oSS on on
operations, with the sub-treasury, the
gain ga ~ WAS sS62:0oo. The import OF nearly
grand total to over $4,000 900.
The narrowness In the bond market f,
has showed itself in the demand for Sc
Sepo SepeS or ions small Ia ,mnnultip1es Bonds
are selling steadily, whereas the bonds
| or $1,000 denomination are listless A
number OF big Investment houses. which
hitherto have made no special effort 10 /,
attract the small investor are now adj
Sertising bonds OF small denomination
Ihe bonds in small multiples have ad-
vantages over the high priced debentures.
II they are of standard recognition. they
are just as safe yield just as much just
as easy 10 negotiate and are more easily
| handled otherwise.
| While the earning power of railroads
In southern territory has improved to a
considerable extent In the last year. the
prices Of their stock and bonds have
fallen off In sympathy with the general
market ma during the past few. months, uu-
I'll the percentages on railroad market
valuation are now very high.
| The price of Pennsylvania stock was
| affected but little by labor troubles in
the present week. Pennsylvania is not
given TO much huctuation, but the bulk
of 1t is held for permanent investment
and is not traded In actively.
Going north. the Canadian Pacific will
earn 16 per cent on its common stock
| during its present fiscal year. While
Big -Four earnings do not point to mid
year dividend. the traffic department OF
the C.. G.. G & St. L.. is not down
cast Ordinarily the earnings in the first
those OF the latter half.
Estimating upon figures furnished by
the six Gould lines; the gross In the fiscal
year just ended will go over IL per cent
! These lines are the Denver & Rio Grende,
the Missouri Pacific. Iron Mountain,
Texas & Pacific. st. Louis Southwestern
\
normal granger sections, the outlook for
| heavy traffic is very brilliant.
There has been much agitation over
| the copper metal situation in the past
| five days. There has been a vague report
| that the. movement for curtailment will
| take tangible form. However, too many
persons are prone to judge the copper
market by workings of Amalgamated
| shares Amalgamated is a speculative
stock and II does not represent the gen.
eral industrial market any more than
| the quotations of Texas 6 Midland would
| show the real conditions in the railroad
| field.
Reports OF rain from the agricultural
belts are received with rejocngs There
viii be heavy corn crop and the har-
vest outlook In the northwest is Hlucn
Improved.
James j. Hill Of ST Paul was in this
city the other day and declared that the
crop situation need give no warning, AS
Mr.. Hill is a student of crop affairs. hts
word must be accepted authentic
prophesy
Reports from the southern industrial
fields says while new orders are scarce.
sufficient orders are on hand now in the
Birmingham fields to keep iron and steel
industries busy for ninety days. BY that
tmo new railroad contracts will be CONF
ing in.