The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-19
Much Interest i'm Future De-
velopments in Equitable Life
Assurance Society.
THREE FINANCIERS WILL
ADMINISTER BIG CONCERN
Market Shows More Strength
During Week, but Trading
Has Been Listless.
BY Leased Wire to The Tribune.

By Leased Wire to The Tribune.
NEW YORK. June 1S.-Two causes
this week tended to give the stock mar
ket a steady upward trend. They were
the return of j. P. Morgan and the pend
ing adjournment of congress. Mr.. Nor
gan is expected to arrive on Tuesday, and
his return is being celebrated by firmness
diversified throughout the market Trad
ing has been listless. but there has been
a steady gain of strength. The old-time
drops which were wont to characterize
narrow markets were missing.
Upon the return OF Mr. Morgan hangs
the programme for the Equitable Life
Assurance society. The question of re-
newing the trusteeship To replace George
Westinghouse and Mr.. OBrien will be
settled within the next fortnight 1t
has been reported in financial circles for
some time that Mr.. Morgan aims TO put
the Equitable upon mutual basis. The
fact that he has a project for this Sigan-
tic enterprise is pretty shreWdly guessed,
but with characteristic uncertainty Mr.:
Morgan has refused TO give an inkilnS OF
1t to the public,
II is pretty certain that Mr.. Morgan
intends 10 draw up another voting trust
agreement by which three financiers OF
national prominence will be selected to
administer the affairs of the company.
| The names OF new trustees are not
known, but IL is believed their tenure
OF office will not extend over year
When we come TO realize that the gross
assets OF the Equitable are more than
$500. 600, we grasp the gigantic I'M
portance of this enterprise In business
and financial circles.
Banks Show Gains.
On the present weeks currency move
ment banks gained S6,l66. 900. On oper-
ations with the interior the banks gained
| S4: 297 900, while on the regular account
with the ub-treasury there was a net net
S2,1O6, 600 was shipped direct to interior
institutions. Despite the somewhat pes
slmlstic utterances yesterday of E. +.
Ripley, president OF the Atchison, To- oo
| improvements of that road had been
stopped owing to the uncertainty arising
from political conditions the general
complaint. On the contrary, develop
ments OF the past few days have been
opposed 10 such an attitude. Announce
ment Of the Hawley- -Yoakum syndicate
carries the inforspation that orders are
being placed for new locomotives and
cars TO the amount OF $4,000, 900.
Traffic Agreement.
The agreement which has been en-
| tered into with the Southern Pacific and
st. Louis & San Francisco obvlates the
construction, although a fraction OF this
amount will be spent in improvements.
| The Southern Pacific had already sur
veys made in Texas for extensions ms which which
amount but the traffic agreement be-
tween these two limos does away with
the necessity for this contemplated con-
struction
The gain in revenue by the Seaboard
Air Line gives the road wide margin
over the interest IT must disburse on It's
new bonds. This road now seems In a
| fair way to assume new position
among the prosperous systems OF the
| south.
Steel Market More Cheerful,
The steal market has assumed a more
| cheerful outlook. The United States
| Steel Corporation is running about so
| per cent OF its capacity.
The Crucibe Steel Company Of Amer
lea has declared on its preferred stock
the regular quarterly dividend OF u
per cent. further dividend OF In cash
and a scrip dividend of 10 per cent. The
extra dividends are not overdue,
| In the bond market brokers are ad
vising taking up the short term certih-
Gates. There are many Of these on the
| market AT present. many Of them being
. w r1 iIroaGS for eUuirmeDi funds.