The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-29
CHANGES
Of WEEK NARROW
Considerable Activity, but No
Sensations to Startle the
Traders.
NO TRADING SATURDAY
BEFORE DECORATION DAY
Constantly Rumored Illness Of
J. P. Morgan Has Influenced
Stocks.
By Leased Wire To The Tribune.

| BY Leased Wire TO The Tribune.
NEW YORK, May 2s.-Ths week
Stock market suffered number OF mar
row rallies and declines. IL lacked much
of the listlessness of the week before
and Yesterday IL tooh on holiday fea-
no trading today and will be none on
, Monday There were several rumors and
developments which affected the market.
| j. Il, Morgan, ST.. Is seriously i'll abroad
so persistent was the rumor that today
me contents OF cabIegram sent from
MI. Morgan In London were made known.
showing him TO be in the best OF health.
| me board OF governors OF the stock
change started an investigation to see
II IL can learn the source of the latest
Morgan report, but ii is safe hazard
that IL cannot be found Such re-
ports start without foundation and arc
exaggerated unconsciogsIy when one has
| bulll Il mountain of mole hill.
The stock market felt Indirectly the
nerNousness ot tho grain and cotton mar
| heiS Que 10 the assertion OF James y.
Patton in Chicago that he would retire
from all active trading July J. This
Knocked the bottom out OF the grain
market. and investors and spectators
VINO suddenly found themselves caught
IN grain had 10 turn TO the exchange ior
Despite the fact that this was gen
orally holiday. the bank statement was
! issued ms usual. During the week New
York YORK banks gained over $t.oOo.ooo ON
| tnelr currency reserves. On transfer.
movements with the interior there was IL
net gain amounting to s4,ll7 900. on the
| United States subtreusury account in
stead of the large balance of receipts
lately shown, there was balance OF
| nearly 81 900 900. Approximately S7.3SI,-
uoo currency was received during the
! week by New York banks, while SS,I6i-
600 was shipped direct TO the interior
institutions from this center. The state
ment OF gold from Paris Berlin and
London has cascd the foreign exchange.
here were able 10 enter a month OF ex-
IRA disbursements Dividend and in
mated at SS5,o00.oOc. including payments
on all classes OF stocks and in the com
ing due during the month on bonds Of
every character. 10000 900 more than
was disbursed i'm June 1909 Among
the largest dividends out in the next
month are the following: Atchisou. 81
ALTO: American. Tobacco COMPANY
SiD2, 400; International Harvester com
pany. 100000. Standard Oil, $3.50, ,45i
United States Steel, $6,353,1S0.
! y great deal OF interest WAS attached
to the announcement that the French
banking syndicate. consisting Of tie
Bsnauc De Paris. Et pes Apyssbas
Pour Favoriser De Developpemcnt Du
| Commerce has agreed upon an issue
price of - for the $50 000 900 worth Of
81. Paul debcnJures. II is believed that
snothrer announcement will be made
shortly TO cover another placing OF
American bonds abroad.
There is no doubt that st. Paul Will
earn it's fun dividends in tins fiscal year
The gross earnings in April OF that road
were nearly million dollars In eNcess
OF the same period year ago. This will
wipe out the deficit leaving a margin
Louisville e. Nashville, il is estimated is
earning 20 per cent on its outstanding
| stocks. With more than month Of the
present fiscal year sill remaining l.. &
\. earnings Zip 10 May 26 were Il million
dollars in excess of the entire year last
year. The enormous gains of the road
this year have been matter of much
comment in railroad and financial circles.
Colorado Southern Will not he put
on 1 per cent basis when the direc-
tors meet early IN June. At the present
time tile road is earning enough 10 paw
i Tor an Increase. but the present policy
is against carly increases. II is shown
per cent on It's SSi 900. 900 of common
stock. the larger portion OF which will
so into the surplus fund Union Pa
Ciic promises a years surplus for the
common stock OF approx !mately ls.S per
cent, the Increase in net earnings this
fiscal year being estimated a 81. jo0.o oco.
with a decrease OF $l,ooq,ooo in liked
Nolhing definite has been done to ex-
tend the line OF the New Orleans. Mo-
bile and Chicago road-the organized Mo-
bile. jackson & Kansas Citv-norih from
Middleton, Tenn TO the Ohio river. Al
though the gross earnings have increased,
They have not yet attained point where .
can launch it to sG5 GOO. 900 worth Of new
construction bonds
The feathers were among the most ac
two shares during the weeks trading,
due 10 the action OF the directors of the
Central Lea thar company on Tuesday IN
taking no action upon tho common stock
dividends. Tho regular dividend on the
preferred was voted.
The officers Of the American Smelling
and Refining company announce better
copper metal conditions. Smclters ought
To show up with per cent ON tine com
mon Tho ore conditions in both the
Pittsbure and Birmingham ccnters re-
main dull.
Thc bond market this week was moro
active than usual in the centcring of
$Il 900 900 equipment issues Of the Penn
sylVania railroad.