The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-31
MARKET APPEARS
IN BETTER FORM
Strength Developed at Close Of
the Month Is in Some De-
gree Lasting.
OUTLOOK FOR AUGUST
Is GENERALLY FAVORABLE
Railroad Situation One That Ex-
cites Most IXterest in
Financial World.
METALS
WOOL
PRODUCE
BY RALPH EMERSON.
BY Leased Wire to The Tribune.

by LedSed WIRE 10 ne lTlpune-
NEW YORK, July 30.-July is going out
with the stock market in better and
healthier shape than II has been for some
time. Beginning on Wednesday a sudden
strength manifested itself which has been
moving stocks upward steadily.
It Is estimated that dividend and inter-
est disbursements for August total $751;
100000, which Is sl5,o00,0o0 more than
dividends s42, ,39s, 900 will be paid out next
month and 1899, 1927, 900 on interest for
bonds. This allows margin which will
be amply filled.
eight months Of the present year-there
VIII have been paid out in dividends s507.-
765.o00 and interest. $500, ,363,o00. or a
total of 81, ,09S. lis, 600, This is more than
hundred million dollars higher than the
aggregate paid out during the same period
last year.
Railroads lead in both dividend and in
tereSt disbursements next month, fol-
lowed by industrial corporations. These
figures are eloquent. Despite the caam-
ity howlers In Wall street. these tremen-
dous sums show the stability Of business
and the solidity of railroads and corpor-
ationS.
The chief item of news this week with
bearing on the stock market was the
English group OF bankers of Rock Island.
Lehigh Valley and Missouri Pacific stocks.
held by the Pearson -Farquhar syndicate.
Wall street is full OF rumors that a trans
planned with the above mentioned roads
as the nucleus, The holdings include
big interest in the Denver & Rio Grande
and the Wabash, so that the system is
already practically linked
| The possibility of a new transconti-
mental railroad system projected by Kuhn,
Loeb & Co, British and Gould interests
has apparently had good effect on the
| market,
The purchase of the securities in the
above named lines has shed a great deal
/ las It'll. l. t,,& ,&l, hae ha4
In the dark for a long while. Ever since
the Rock Island furry last winter, the
holders of the bulk OF Rock Island have
been an unknown quantity and quality.
| too. for that matter.
The Kuhn, Loeb s. Co deal has placed
| the Union Pacific railroad In strategic
position for the banking company is close
! ly allied with both Union and Southern
Pacific interests. 1t Is no wonder, then.
| that the Hartman shares have been gain
| ing In strength and climbing In quotations
/ for three days,
In the money situation New York banks
| gained heavily this week and 1t is now
| freely predicted that the local financial
institutions Will be the mainstay OF the
middle west when the drains commence
| incidental to crop moving,
Currency received from interior insti-
! tutlons amounted to Sl0.5S3, 600 Only
50 .74S 900 was shipped to the interior.
erations with the United States sub-treas-
ruy, and in addition the gold imports
| amounted to SoUO-OUU, Inc net gain IN
cash by New York banks this week to-
tails s10.600 900. 1t has been frequently
stated regarding conditions prevailing IN
! the bond market that prices are merely
| at the level obtained in 1907, Such state
ments. however. are not in strict accord
ance with the facts. They tend to give
! an erroneous impression of the real con-
ditions that prevail, 1t is true that IN
not quite, to the lowest point OF the de-
| cline three years ago. but the represen-
! tatiye bonds are still about ten points
| above that level.
| Crop conditions are still in aeeyance'
o. z. Dunlap OF the Texas Bankers as
ISOLATION. who is now in this city on his
very good and the only adverse circum-
stance which the farmers and ranchers
face Is railroad car shortage
''rhis year will doubtless prove the
most prosperous In the agricultural his
| tory of Texas" said Mr., Dunlap this af-
| ternoon. Texas produces far more prod
600 600. manufactured products to the ex.
tent of $3.50 900. mining products OF
Sl6. 600. 600. and has $4,000. 900 head OF live
stock valued at more than han @ SSoo. ooo;
cotton this year Three-fourths OF that
will be exported, making credit OF s225.-
900 900. This, movement Is now only
crop will be moved by November l, In
northern Texas the crop Is late but sat
| isfactory weather is prevailing:
The issuance Oi lHe IcppiN VI Inv
ed states Steel corporation this week.
showing the corporations net Tor the
quarter to be s4O.170. $50, was an impor-
tant item In helping the market upward,
The net profit for the common STOCK Ior
three months ending June so equals per
cent Only the most favorable interpre,,
tatlon can be placed on the report, and
in addition it was supplemented by the
information that orders are on hand hand 10 10
keep the mills of the company busy for
six months 1t means continuation OF
the regular dividend by the corporation.
The report Of the Bethlehem steel com,
panv was also made public this week, ano
Ii likewise showed a heavy gain IN net
earnings. - .a,a,
The American Smelling and Rehnins
company Is sold ahead until the mldoie
of September, and the United tsfi, 5ae,ins Metals
with any nearby metal in quantity for
sale l., .,,
The iron and iron ore markets In poth
the middle west and south are hstieSS.
The. makers are we'll sold into the tourtn
quarter of the year, but the buyers are
cautious.
yUon1annara WPNneS-