The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-20
MARKET TENDENCY
SURELY IS UPWARD
Conditions of the Past Week
Indicate That Improvement
viii BE Assured.
GENERAL GAINS IN
PRICES ARE OF RECORD
Morgan's Departure fer Eu-
rope Regarded as Significant
AmGng Financiers.
BY RALPH EMERSON.
lsed Wire To The Tribune.

BY RALPH EMERSON.
BY Leased Wire To The Tribune
NEW YORK Ecb. l9.-1nc record oi
tho stock market this week was one oi
the continued advancement. More than
third OF the total decline in the mar
ket beginning al the first OF the year
has been recovered. A decided feature
OF the recovery is the large amount OF
odd buying which has been going on
good part Of this buying represents
small investors who are not in the mar
ket as spectators. but as real buyers.
There were broad developments this
week Of both Oppressive and optimisuc
influence. one balanced the other
Storms I'm the last three days OF the
week have been destroying railroad prop
erty and hindcrcd traffic. Two "invesu
cations have been and sun are IN
progress In this city. The first is in the
Hooking coal pool. with James Il. keene
under IRE as chief witness, The other
is the government hearings In the suit 10
dissolve the Hartman merger. This lat
ter hearing, rather tnan depressing, mas
brought out the fact that the Union ana
Southern Pacific are In excellent condl-
tion.
This week saw the end Of the lnvesti-
CATION into the telephone deal, by which j,
T. Morgan & Co was supposed To nave
gained control OF the Independent llneS
in the strategctic territory OF the ma
die western states. The departure OF j..
L. Morgan, the real Napoleon OF finance.
for Europe was looked upon as most
sanguine feature because il was argued
that MIR. Morgan would never leave so
long as the integrity OF the present
property WAS threatened. Mr. Morgan
did not announce any plans before san,
ing, but il Is said that his going VIII
result in n new enterprise OF lntefna-
tlonal imnortaDce, Another hopeful IN
cidcnt was the declaration of DIVIDEND
of S10 per share by the STANDARD OH
and the concurrent announCG-
hot f',, Ia fiDg III
time is $500 00O. 900. Two very optimistic
from men of affalrs have as
sisted IN alaying any lear Wnlcn c%lSteu.
Charles NJ. SCh%ab, in this city, said tnat
at its full measure of prosperity. but tnat
IL is gradually working 10 the point
which In its revenue VIII Surpass hsures
for the paSt. James j. HI, re" Gays
earlier. upon leaving FOR the west. spoke
OF the great prosperity OF the country,
especially the west Nothing came from
Washington To cause the slShtest guam.
During the first five days OF thls week
New York banks gained S4,l63,QOO cash.
on interior currency movement there was
4 net gain of receipts over outward
transfers amounting TO Y5,o,9.Ooo ana on
the weekly operations with the sub-treas-
ury net gain OF s., $4,000 was regis
tered. Gold export engagements OF Sl,2oo'-
900 was a partial Offset 10 these gains.
weeks transactions with New York banks
show receipts by the government OH all
accounts OF $25. 1852, 600 The net pay
mcnt OF the government TO banks was
s27 1876 600. Very little interest Is at
iachcd 10 this weeks movement OF cur
rcncy Money continues easy, but the
of international trade IS TAX
ng away great deal OF gold A sqoG
holdings. In that commodity alone
Memphis is said TO have advanced from
81. 900, 600 to S20.000.O0O- This undoubt-
,dly includes much OF warehouse linanc-
bao ha1n IcTpinnpl tlrOnG H.
,ut the cotton belt
In the railroad field there is much
One report that caused consid-
,rable interest and comment was that
Edwin Hawley is negotiating to secure
he Hooking Valley railroad to add To
lIs system. An officer of the Chesapeake
( Ohio Ga Hawley line) Is quoted as say
1--WE need the Hooking Valley. 1t will
axe our coal 10 the lakes at Cleveland
With shorter haul by 100 miles than
over the present route via the =. ~.
D. Our control OF the Hooking valley Is
,nly a question of time.
Owing TO the lassitude of the bond
market at present. the Baltimore Is OHIO
,as postponed its financing. understand
hat in April the g. & Q, will issue Sc
.urlties approXimating S3O.0Oo,OOO for new
,aulpmen; and construction.
Figures were compiled this week in
with the general railroad sii.
iation in the west to show that the
onion Pacific has in lis treasury az inc
present time SIS, 200. 900 in quick" as
sets And Notwithstanding the presence
ii this great sum the road has and is
low carrying out a program OF Improve
nent and extension.
The detailed report OF the Denver
Rio Grande, just made public Tor the
gross earnings were s22,332.l2 l2e. against
i9,4G4,O19 in the previous year. In TACT,
his was the best year since 1905,
The Minneapolis. ST, Paul & Snnli ste.
n
.egtIlar semi-aunual dividend OF 3A per
,ent on its preferred stock and dividend
II 3I per cent on It's common. TINS is
IN increase of one and one half OF l per
.ent upon the common stock over last
In the southwest Edwin Hawley is
showing the training he received under
lie late t. H. Hartman, Mr.. Harri"
." Look after your railroad; the dividends
will take care Of themselves Under
3ropriations of the Missouri, Kansas s
rexas have been doubled in the past
year,
In the steel ard ore trade corditions
current year will show probably an in
sroasc Of close 10 5000 600 In the ingot
,apao city OF the steel mills OF the United
states. BY the close OF the year, the
1 capacity OF about 35.000.00O tons OF pig
ron per year. The United States Steel
has already applied $4,000.
wanna steel company this week took
,teps 10 issue $40 900 900 in ponds for i'm
in their plants, side light
ln the situation was shown this week
by the report Of the Pressed Steel Car
company. which reported profits OF 81
100. 900 in the past year. Notwithstanding
. strike which tied up the plant for
several months. At the first annual
meeting OF the Southern Iron and Steel
company this week the reports showed
hat the Average estimated Income OF
81 zoo ono per annum had proved too con-
servative.
steps are being taken for the speedy
OF the Central Foundry
company, which has string OF mills
through the south. Last Saturday re-
ceivcr was appointed for the corpora
ion but a sood fraction OF the neces-
sary 81 600. 900 working capital was raised
this week
upon the people Of the present day