The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-03
ON
MARKET OUTLOOK
Big Interests in Wall Street
Accredited With BOlstering
Up Markets.
GENERAL CONDITIONS GOOD:
NO CAUSE FOR ALARM
Country Now on an Era of I'm.
bounded Prosperity, Which
Will Continue.
METALS
WOOL
PRODUCE
BY RALPH EMERSON.
d Wire 10 The Tribune.

NEW YORK, July 2.-There is much
speculation as to the tone Of the stock
market when 1t opens Tuesday The abb
sence Of a session today gave yesterdays
session q typical holiday importance.
from on rSaSsdays @ ' tremendous tiS' gS slump and
some of the biggest interests in Wall
street are accredited with lending thelr
port from Chicago says a conference has
been arranged with certain railroad presi-
dents and manufacturing interests on
the rate question. The rate question 10
which have affected the prices Of stocks.
The others are the wage difficulties con-
fronting southern railroads. and the third
Is the. condition Of the crops. Two OF
these bring the interstate commerce COM
mission 20 the front as an important fac
tor in affairs. II is the commission which
Is trying to adjudicate an amicable set
uement between western railroads and
manufacturers by which lower scale OF
freight rates may be put into effeGt: G and
pacity OF mediator In settling the dif-
ferences between the Southern railway.
the seaboard Air Line and other south
Ing higher wage scale.
Weather conditions. upon which crops
rely. are favorable generally throughout
Is little OF no cause for apprehension OH
that score,
Why the Aarm7
Why sufficient alarm should be felt
to cause stocks to tumble is mysterious.
gss Fl Gsqy 4Eo sTe so9d now In ro%s sH
for Europe, said before sailing that we
are now wen into an era OF unbounded
RrospeTisy} Which should last & without tgos
such an eminent authority as the chair
man of the United States Steel corpora
ton. a statement such as this bears
weight. The change in the news of
rate-mahing In the west will not be near
" as harmful as some people suppose.
The commissioners. who have the ham
ding OF this affair, are not disposed to be
aggressive. Nothing definite will be done
upon the spur Of the moment TO force
the railroads into new rate-making. Rate
making Is going 10 move slowly. But.
as In all big affairs that affect many
people and big institutions. something in
tangible plays It's part. causing alarm
where alarm Is silent and giving rise TO
rumors that react
Bond and Money Market.
The bond and money markets. which
reflect material events and current snan-
cial affairs. are both in a healthy state.
While the bond market is in such state
now that IL offers a wide range OF possi-
oilities. there is no stagnstion. True,
many bond houses are advertising stand
ard bonds Of high Yield for sale. but this
does not indicate that money is stringent
or that there is possibility OF a refjuX
of bad times. More than anything else.
this seems 10 show healthy condition;
~
best. Call money has been quoted az
and 81 per cent. While the market has
been markedly quiet this is a statement
OF affairs always In evidence at the close
OF the first half OF the year
On the present weeks currency opera
tions there has been q heavy loss TO tho
from interior institutions s7.297 600, the
amount shipped direct 70 interior institu-
tlons was {9.lS7 600 Upon operations
with the United States sub-treasury the
New York hanks lost sS 4oS O0l
Copper Exports for June.
Exports OF copper during the month of
June ran close 10 81 ZOO. 900 pounds fig
ure considerably larger than anticipated.
In this connection, former Senator Clark
OF Montana. who is now in this city,
speaks In the most optimistic terms OF
the copper outlook Ex-senator Clark
predicts healthy boom In the copper
market
The National Mines OF Mexico has de-
clared a dividend OF . per cent on It's pre-
ferred stock out OF the earnings OF tho
first six months OF the year.
What Railways Are Doing.
The Hin roads are finishing their fiscal
year with an increase gross over last
year Every road In the Hill system has
enjoyed better earnings this year than
last year Chesapeake 6 Ohio is earn
Ing at the rate of 10 per cent. Missouri.
Kansas Texas preferred is earning 10
per cent; Glover Leaf preferred is earn
ing per cent; Chicago & Alton is earn
ms - Itl CENT s'N bNOSS Va stlNllloSh
during It's present fiscal year will esteo-
ljsh a new record. Illinois Central prom
ises its years surplus will be T.o per cent
OF its stock. II is estimated that Kansas
City Southern has earned % per cent on
It's common stock. Western Pacific has
now begun 10 realize the hopes OF its pro-
moters. Those Items, culed from tho
railroad field, show a prosperous condi-
ton, surely.
Steel Situation.
Tho steel situation has taken on some
OF the iassitudc that generally character
izcs il during the summer. Many of the
big mills have shut down for the regular
summer stop. Building and railroad con-
ditions in the east however such
that no alarm is felt for the steel trade.
COAL WANTED.