The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-27
h Street Traders Face Con
ItIous Which Cause Them
Great Alarm.
|pIJr INVESTS ONLY
|4IANG LEGITIMATE LINES
.ry c. Frick Retires From a
huber of Corporations After
Long Service.
nv PRESTON q. ADAMS.


nv PRESTON O. ADAMS.
.,.sd Wire to The Tribune.
sW YORK, Aug. EFF the ap'
~ cool weather does not stir
~..ulation germ In the blood of
nntside public, Wall street will
~ loader in a prolonged wall of
t;res Stock sales this year have
,msIler than for the corresponding
!; IN long range of years. They
reached only 100000 shares,
hat ll5, ,000,o0 last year, a decrease
o 600. 900, or As per cent. Even
.r me memorable dullness of 1904
{,apaactlons for the first seven
,ts reached 63.000,000 shares,
- less than 60,o00,000 for the
! months of the current year. In
/ 1909. the sales approximated 49,
|sm shares, whereas the turnover
ropth was only 5.660,000. Reckon
u value of par for the shares
n IT, the turnover this year would
.uIiyalent to S6,300.000,000 RS con
IA with sl1, 100000 last year.
|iukage of 00,000,000.
sre have been other dull periods,
not in many years has the stag
su been so prolonged as on this
non. Wall streets expense ac'
a il is also TO be noted, is greater
q than ever before, with perhaps
srcsption of the brief boom period
n preceded the collapse of 1907,
| mich time certain commission
L. we're spending money in the most
kIess fashion.
EiIlion.share days OF change have be-
: traditions and the end is not in
n, Stock exchange commission
I.s have been reducing their forces
A also drastically cutting salaries
|cYder to diminish the shortage be.
..u income and expenditures. The
4 firms which have done even mod
|ey well are those having important
|m departments; the speculation in
Non has been as animated as the
iipg in stocks has been staenant.
Ines in the produce exchange.
40 not abnormal, has been good.
| extreme duIlness in flour having
, offset by the specializing in wheat
i corn.
8 alarm the traders are crying.
|hither are we drifting?' and there
. bone to answer,
4 le public simply will not buy stocks
|ED for Investment and there IS
Ger sport nor profit for profession
% tiade among themselves,
Earnings Show Decrease.
X gross earnings of the country
D January to June 80, 1911,
hnted TO sl.2s4.2s2,1l5, decrease
|@55f,I47, or 2.03 per cent. Speak
n The showing the Chronicle says:
4 itSiewing the earnings of the
'A States railroads for the first SIX
ls OF the present calendar year
ttion is disclosed which has not
met with since the business up
nl following the panic of 1907
iF, a. retrograde movement, car
B The totals down below their
ani IN the previous year. Our tables
entirely with statistics of gross
nus- Figures as to the net on any
qrhenslye scale will not be avail"
Io' another period of two or three
n, The fact that June is the clos
Houth of the fiscal wear makes tbf
'ns How IN coming IN. and even
. the gross we are obliged in our
fai tabulatlons TO use figures COW
ID some instances only the five
pas to Nav 81 instead of the full
eooths, ended June 30. The fact
A regarded, however. as estab-
q that gross earnings have fallen
ho Iu 4 sum which, while not large
aug, IS nevertheless substantial in
l Frick Takes Rest.
aafy CLAY Frick has resigned as
t!of OF the Union Pacific. He alsG
sas Withdrawing from the director
Y ofher great corporations Of which
member, among them United
steel. Two months and a hall
y told his friends that with ad.
ng age he was anxious TO get
nme for recreation and leisure.
would seek to tighten his large
as responsibilities. although not
Wholly from activity. He de-
70 retire from the Union Pacific,
ee did at that time, although
to Reconsider by the members
~ BOARD. He is IN his sixty-sec-
nGry that Mr., Frick had resigned
ne company because of differ"
"i,n Robert S Lovett. president
o3ion Pacific. which was used
explanation of recent decline Of
raeific stock. and the assump-
l Mr., trick had turned his stock
WE market Is not believed. Mr..
says that he and Mr., Frick are
INK friendly terms. \ director Of
,,pn Faclfic has said also that
a.onS between the two men were
very friendly.
;rnck made money in coke and
ny ~ steel He has been n mem
a u Director of the finance com
of the Steel corporation since
S-u,aIl0n IN 1901. He has turucd
Fountain Hez