The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-27
NARROW AND DULL
WEEK IN MARKET
Trading Has Been Almost En-
tirely in Hands of Trade
ManipulatOrs.
PENDING COPPER MERGER
IS HAVING AN EFFECT
Troubles in the World of Labor
Exert Influence That Is
Depressing.
BY RALPH EMERSON.


NEW YORK, Feb. 26.-This was a
week of narrowness and dullness in stock
exchange dealings. with professional deal
ers offsetting bear sentiment with bullish
raids. or Vice versa, On Monday and fol-
lowing Washington's birthday The same
llstless tone prevailed. Generally there
was an undercurrent OF strength and
firmness, but the trend OF trading was
so narrow that IT indicated professional
ism almost exclusively.
Colorado e. Southern. beginning ycstcr-
day. has evidenced unusual strength upon
the subject that the James Hill interests
have accumulated considerable of the
stock With View 10 getting control OF
the line.
The pending copper merger. which has
been halted and rchalted by litigation
has cast pail over the stock market
The general run OF traders and brokers
copper affairs and they arc cautious
Their caution has communicated Itself
TO Investors. The heavy shrinkage In
stocks OF copper companies has failed
TO stimulate a dull movement In the
face OF the general Ignorance of copper
merger conditions. But aside from the
stock feature the production OF copper has
fallen off,
The tone situation is good in eastern
banking circles, and bankers are taking
blocks OF government bonds In big auanti-
ties. Money has been flowing into New
York in steady stream in the past
week, but the larger fraction of 1t was
taken UP by the government through
the subtreasury The bond market is
better than II was.
Generally speaking. railroad, industrial
and trade conditions are normal. We are
now standing upon the threshold of the
regular spring boom and great orders
for equipment, ores. steel and metals are
being made public. There Is improved
demand for steel From the indica tions
OF the past week. February Will make d
better showing in steel than January
making a better showing than the cur
rent month.
In this connection. learned this week
that the United States Steel corporation
Great Northern ore properties on large
scales. II is expected that from 1000 600
to 1,500.000 tons will be taken out, AL
ready 50o.0oo,ooo tons have been located
is even more than that amount.
A total OF 100000 tons Of steel rails
have been contracted for by tho various
railroad companies, during the present
week over last week.
The Hartman merger hearing was on
again this week, but IL has no influence,
direct or Indirectly. on the market. There
were fears that disclosures" might be
6epress prices.
Looking into the railroad financial stu
alton. attention Is drawn Immediately
westward, and look to see the west and
southwest the center of railroad activity
this year.
II was announced Yesterday that the
Rock Island would spend Si.00O.oOO in inn
provements between ST. Louis and Kan
sas City and a. the same time a sched-
ule OF service Improvement for Colorado
was given.
more e. Ohio and its employees gave
pessimistlc touch 10 that roads affairs
this week. In fact, the Baltimore q
Ohio was made what might be vulgarly
t1r z1I ~ h.a
cles for the tralnmen decided TO make
their demand for the western wage
schedule to the Baltimore & Ohio first
before asking another eastern road 10
The Gould lines are now In a more
nourishing condition than they have been
since 1907. The increase in earnings in
G. Is s375,o00; for the Missouri Pacific,
s490 600: for the Texas & Pacific, Sl02,-
sos; for the Wabash. S2S6.000 There
were increases I'm all the Gould roads,
There was four-point advance in J..
& n. ~this week over the report that
the new financing, plan for the line viii
greatly benefit the stockholders. The
provement so great that ] hear The pre-
dictions of 20 per cent earnings for the
current year freely made.
In the coal field anthracite trade is
duh and wage troubles threaten the
operators. But feature OF
the coal situation which cannot be over
looked is the revelation at washington
that az least $1,000, 900 worth OF coal
undcr!ies Alaska. AS an immediate Of
feet this informs ton has no influence.
but IL does snow the marvellous resources
which the ordinary laymen Of the coun-
try never dreamed Of,
The furry In Central Leather was
wasted. Contrary To expectations. the
directors did not declare a dividend on
the common. although the regular quar-
.erly dividend OF "a per cent was de-
,larcd on the preferred
The buying OF United STATES bonds by
western bankers Is for circulation pur-
poses One western bank took $4,000. 600
worth yesterday and two banks are bid
cheap money, somc banks on the Pa
,ihc coast have found 1t profitable To take
,ut circulation.
All the United States issues are in bet |
er demand ON March Il tho Otis t.le- |
,ator company OF this city VIII authorize |
an issue or SO 500 600 worth of per cent |
gold convertible bonds.
During the past week New York banks |
ost s3o75 900 cash. From the interior |
here came n net gain of S2.S63.OOO ON |
'cg,llar currency transfers. but at the |
,ame time there was a Sc, lbs 900 loss on |
,pcratons with the sub-treasury
Bar silver in London has declined &c |
q 23gc per ounce.
Every indication now is cheerful |
There arc two strikes, one at the Beth |
chem Steel company and the other in |
but neither is OF such an
rider as to cause alarm. There never
ame a wave OF prosperity that was nor
accompanied by strikes,
Military Ball.