The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-03-20
DULL WEEK, WITH
AN UPWARD TREND
Great Interest Shown in POliti.
cal Battle Now ON in
Washington.
ANTITRUST CASES in
SUPREME COURT A FACTOR
Labor Outlook Has Cleared. EX-
cept as to Troubles of Coal
Miners.
BY Leased Wire 10 The TTibune.
BY RALPH w. EMERSON.

NEW YORK, March l9.-Although this
was a dull week in the stock market, the
trend was generally upward. There came
break in the cloud OF labor trouble but
simultaneous with this burst OF optimism
"a new series OF plaques beset the market.
Tho political situation is being keenly
watched from Wall street, and there is
more than simple curiosity In the inter
est being displayed in insurgent warfare
in congress. II has come 10 a common
heller that the regulars-.the old guard In
the Republican party-stand for set OF
principles favorable TO capital, Hence the
perturbation over the Washington strug
gle. The range OF the stock market in
the past five days has been narrow and
almost wholly professional. This is Off
set TO Il great extent by the semblance
of broad investments in the bond marlle l.
Wall street looks with an anxious eye
to Washington for several reasons. and
not the least of these is the feeling of
uncertainty over tho supreme court ac-
ton on the three trust cases,
The present week saw the argument all
IN on the governments action TO dissolve
the Standard OIL company. and at the
same time it saw n continuation of the
legal warfare before this august tribunal
against the federal enactment levylng l
per cent on the income of corporations
The decision in the government case
against the so-called tobacco trust was
eagerly looked for. There are three cases
pending. any OF which furnishes sufficient
foundation for good sized market ef-
feet.
Except in the coal situation. the labor
outlook has materially cleared. The good
effect OF this was demonstrated yester-
day in the market,
There were developments in the steel
and railroad fields this week which had
their good effect Although this effect
may be Offset at the present time by ad :
verse influepces. IL will be extended for
some time. I might cite as the most Do-
tential of these the statements OF the
United States Steel corporation, which
showed an increase in the gross earnings
for 1909 of s164, 900 900 over 1905 Jast
consider this stupendous sum for mo-
ment--it may seem at first blush that
even the size of this increase represents
sum sufficient TO Justify a great lump
topmost hgures-thc figures representing
the full earnings OF the steel corporation
last year-we get the full impression OF
this gigantic company's capacity. In 1905
than the size OF n kings ransom. The
steel trust is truly the barometer of the
nations prosperity. and when we think
that its heads are predicting even great
or earnings for this year, IL Is not neccs =
sary 10 90 further for a cheerful prog
nostication.
The steel situat ton generally has i'm
proved in the past six days. This is at
tributed to the better weather conditions
and to action Of the railroads in placing
their annual spring orders at this par
ticular time.
As l suggested one week ago, the Bank
OF England raised It's discount rate Thurs
day, increasing il from g to 4 per cent
The reason for this is found wholly in the
precarious condition OF the London iinan-
cial market. which is unsettled now,
owing TO British political conditions.
AS far as New York Is considered. The
currency movement was locally favorable
The returns of the currency operations
compiled at the close of tile days bust
ness yesterday. increased a gain OF s9Oa,-
900 in the weeks movement In tue New
York banks. In the regular accounts OF
the United States sub-treaSury this week
there was n net loss or almost 50 600. 0OO
The statistics show that S6j,6ll 900 was
received from interior banks, while 81
3Ol 900 will be shipped into the interior
from this center. Before touching the
various phases of the railroad situation,
il is pertinent 10 recall one report that
grew current this week which, II II mad
been true would have had q tremendous
influence on the industrial field. This
report came from Pittsburs, and ii told
OF amalgamation OF the Westinghouse
interests with the General Electric IN
tcresIs II so happened that an OFFICIAL
OF an underlying corporation was In New
York at the time the story was printed
here and elsewhere. in conversation with
him, I asked him as 70 lis truth and he
replied:
1T makes pretty good news-but it
would make a better one if It were true
We are passing the time Of year when
rdllIOa0 GlNlQcnuS SpeulS VI IIhpAo va
dltlons but there are always develop
msnts which are as truthful as s., dlyiGendS; IcIHn
of the Uawley lines, Is 10 issue S3l.
600 600 worth Of bonds late this month;
The Chicago Milwaukee & ST. Paul VIII
soon place 1000 worth of orders Tor
equipment The Chicago y Alton has
begun the expenditure of S21oOoo on
traffic improvements. The statement OF
the Texas Pacific lines this week showed
the gross increase " earnings >or,,sro OF So
Pacific and other northwestern railroads
announce plans which call for eXpendi,
lures of 81. 900 900 in the Minneapolis and
ST Paul districts, There were Two m
teresting pieces OF news which were
made public this week. One was that
the Hartman lines henceforth would be
By greater conservatism
than was known during INC lfe Go OF "a Their
inroads being made by J, j. Hill into
Hartman territory BY tactic agree
ments Mr., Hin is gradually eating INTO
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