The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-24
NARR0WNESS IN
MARKET RULES.
Prices of Leading Stocks Lower
Than Last Week, Last
Month, Last Year.
SHRINKAGE IN GENERAL
BUSINESS OF COUNTRY
Governments Attitude Toward
Trusts Is Exerting Re-
straining Influence.
METALS
WOOL
PRODUCE
BY RALPH EMERSON.


NEW YORK, July 23.-Narrowuess and
dullness are still the dominating factors
in the stock market, Prices Of industrial
and railroad shares have not improved.
on the contrary they are both lower than
at this time last week. last month and
last year, and the present state OF the
liquidation
The settlement of the Pennsylvania
railroad controversy and the promised set
tlement of the labor troubles on the Grand
Trunk railway system had but little SAL
utatory effect
The crop outlook which is always an
element Of Importance Is not exerting the
feeling OF optimism which ought TO be
due from a promising outlook. James j.
Hill and President Harahan OF the Illt-
| nois Central, unite In conservative ex-
pressions Of encouragement
Some deductions might be drawn from
| the situation which now confronts stan
| dard OH. The Standard group OF capital
| lists Is perhaps the strongest pillar OF the
stock market. Standard OH stock has
declined. due 10 Liquidation, the Wall
Since the federal authorities demand an
| investigation into the affairs OF the OIL
trust, 1t is known the giant monopoly
subsidiary companies which make up the
STANDARD have come In for their share OF
legal dc%es Sdd eso he The sta9dapd az is Ro%
year Profits have not obviously been
decreased, and yet the stock has been
dropping on the. curb In sympathy with
|
the exchange, Some profess TO see re-
lationship in the fall of Standard. de-
spite the brisk healthy state OF Its bust
| ness, and the steady drop OF shares upon
| the stock market.
| The shrinkage in the general business
OF the country is estimated at 20 per
| cent Notwithstanding this circumstance
| the leading industrial companies nave Or
ders now to keep them running until the
FIRST OF next year and this MS faeJ g;a alone eiy Is
idends will be paid: AS to the divideno
outlook, in the first half Of 1911 every
thing will depend upon the treha emo o, rssent een
year. In the case OF steel there shouio
be an increase of orders .,,on
| The United States Steel corporation
will make no change in its dividend rate
upon common during the balance OF the
year It's surplus for the common van
in exsesS sn9SS Of fall % per ee9 eent IN the
next six months. which Is not likely;
Earnings of over SIS, 900 900 for the second
and third quarters are assured oS o'ue''
The Standard Oil company is now do
ing the largest business in Its history
There will be no change in the dlvl
dend rate OF Standard Oil this year. and
I might hazard the guess that there Will
not be next year.
The international smelling ana hehn- ~
ing company Is making Il per cent on
| its stock AS soon as the success OF the
new Utah smelter is demonstrated, an
advance in the dividend rate VIII be
II Is possible and probable that the
stock will be put on 10 per cent basis.
| The American Tobacco company races
an uncertain future. que 10 ene ~ po ,,a
United States suit against the company
The American Tobacco company Is en-
joying the best period or It's career risHt
now. tc
international Harvester is earning 10
per cent on its common stock. II is ouits
possible that when. the directors meet
next week they will recommend an IN
crease In the dividend rate.
OF course, much depends on the crops
In the railroad field from now until Iase
autumn AS conditions now present
| themselves, the railroads Will nave aH'-
Great Northern has on hand more than
$50 0.O0oOoo for its stockholders. me past
| year has seen new nigh record es-
| ia blisbed for Great Northern, with gross
earnings of S62, 500. 900. The COMPANY
gained nearly in stn tns ppsessabIlg psosa biz
| earnings Of 9.5 on its stock.
After the charges are deducted, Den,
yer s. Rio Grande surplus Tor Lhe hscaa
year Just ended is SS.o5o,oOo. rms Is 8
per cent upon the common stock, The
gross earnings for the year were W
500, 900 in excess OF the company pre-
| vious high year record.
The Chicago, Milwaukee Puget
Sound railroad (St, Paul's western eN.
tepsion) gave a good account OF itself
in Its initial year When , the he Show, shown
| that the road has earned SI5OU,0oU gross
| and ST 900 600 net.
| The Baltimore & Ohio has made a new
| record in It's gross. but not In It's net.
| This line is placing heavy orders now
| for equipment
Cali money was offered yesterday. and
| today at the lowest rate since last April.
| The money market is easier and IN view
| of the sI.5OOO 900 which Is coming In on
| the present gold import movement, mon
| etary conditions are quite favorable In
| deed. .t
The postal savings bank institution
| will he an accomplished fact within SIX
| months and it's ultimate effect on the
| bond market Is worthy OF more than
| casual speculation.
| Much depends on the amount OF money
| which pours into the new banking insti-
| tuition in the first year OF It's existence
| The deposits with the United states
postal bank in the first. year are not
| likely To be large enough to stimulate
| heavy bond buying by depository banks.
| No serious cross current OF investments
is likely TO SET in. Nothing more than
a healthier bond market could hardly
result
| r.ihu~o hdr