The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-06-28
SMALL BUSINESS
At LOWER PRICES
Stock Market Depressed With
All Hands Guessing as to
the Cause.
CANARDS OF ALL KINDS
DAY STARTED WITH RUMoR OF
J. P. MoRGAN's DEATH.

New York. June 27.-The stock mar
ket underwent a mood OF depression
again today and prices were subjected
20 a severe shrinkage on smallnoss Of
actual transactions out Of all proper
ton 20 the amount OF the declines
The crop news was not bad. and IL
was necessary 20 turn 20 other factors
in tho effort TO fathom the object OF
the weakness OF the market. There
vas euspicion Of a concerted atteck
by an organized bear party under
rhe appearance early in the day OF
a rumor that !. l.. Morgan had died
suddenly. which was followed shorliy
by Mr. Morgan's appearance at ms Or
flee TO give himself 20 business activ-
tiles. aroused this suspicion. me ols-
proof OF the rumor did not. however
revive the market ~,
Mr. Morgnn's appearance IN wall
street was cited in another way, as
an explanation OF the markets weak
ness. as due &c disappointed epeCuta-
tors who had waited on MS return .r9 on
abroad with the idea that " would 10
ment an active period OF rising pFiSes
~ stocks The grounds on which IDS
ruuuogftion had been formed were the
reports that he had enlisted large
amounts OF foreign capital In the puI-
chase OF American securities that NJ
had secured an agreement with torelEn
copper producers 70 co-op.I4,5te -. ~ -,
output and that he had assured the
listing OF United states steel on INC
Paris bourse. From these reports ano
from the diligence OF his banking mouse
in rctfinr aascnts Of freight shippers
a. the advances in rates asked TOT ny
the railroads. 10 had been Inferred by
some spectators that the Morgan 49, 49,
was looking TO higher prices Tor STOCKS
out Of this situation an advantage Is
supposed 20 have been sought BY q
bear party" 90 press an attack on the
Another explanation put forward as
n reason for the weakness OF the mar
kot was that a remnant OF hQulaatlOA
or some large estate holdlngs on lngS ~
tant stocks was IN progress and ina
banking interests were dtsinciined 20
attempt n support OF prices while TINS
was I'm progress. -.
not much 90 throw light on the pressure
of stocks for sale and the lack OF DE-
mand. Railroad traffic OFFICERS report
cd well sustained volume or business
and n hopeful sentiment on account OF
confidence that rate Increases wouic
be allowed.
Tho call money market showed M
disturbances from the approach OF tht
July settlements Private discount
rates were easy IN London and Berlin
and the official discount rate Of ths
national bank o. Belgium came doWr
10 al ner cent Foreign exchange rate.
IN New York. however. turned upward
sharply The extension OF time allowed
for the payment or the corporatl lli., -
60 July 10 relieved the money Inarke
OF one requirement for this week
The severity Of the days decline gav'
rise 20 the unea,s,iness; but s,,,, spei
ties were not heard The stocks o
railroads I'm the group controlled ~
the interest most active IN recent deal
and the read iustmcnts 81 relations wer
watched with some special attention
Last prices we're the lowest OF the day
Union Pacific and Reading showini
losses % over four points. Chesapeak
~ ohio "a and the active list gencralE
from I 20 points.
bonds were weak. Total sales. pa
value. S1.S50.000.
on call
Any WINK STOCKS