The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-02-25
WALL STREET FEELS
COMMISSIONS DECISIONS

James 4. Pollock & Co. bankers and
brokers. furnish the following. received
over their private wire yesterday after
noon:
Logan & Bryan stock letter. New York.
The decisions rendered yesterday in the
rate cases have awakened the street TO
the stern realization that the powers OF
the Interstate commerce commission are
such as To almost wholly dispose Of the
soCialistic and political theory Of gov
ernmcnt ownership, as ii demonstrates
and q factor which has TO be taken into
consideration AT all times. What the
American people fear generally is the
unknown rather than the known. and
inssmuCh as the foregoing is now an
established fact, no doubt controversy OF
that character will he accompanied by
less agitation and more foret thought. The
market was greatly disturbed today in
view Of the heavy selling Of American
stocks in London, presumably on orders
emanatinc from this side.
Declines for time were so drastic
as 10 cause alarm. hut banking support
was in evidence. and the low levels ol
the day were in tho majority Of Instances
eSta bliShcd during the nrSt Few minutes
of tho session. II is doubtless true that
railroad managers will feel that they
have been shorn al least OF part OF Their
initiative and perhaps There VIII be quite
a few rearranScmonts. extensions and
improvements etc. The course OF quoted
prices today was such as 10 aCceutuate
the wisdom of treadnE iudiciously and
having commitments well protected es-
peciallv as decisions III the trust cases
and Union Pacific merger suit arc stll
to he rendered. and in addition the reel :
procjtY agreement and the probability OF
an extra session OF congress. at Whi"h
tariff tinllcring may be atlemptcd. are
factors worthy of consideration a sec
ondary decline would only be natural
but as indicated in earlier adyiCes, we
would not unduly sacrifice holdings OF
standard issues.
Paine. Wcbber 4 Co letter. Boston
The rate decision caused 4 sharp break
at the opening in the entire New York
list Orders were Cab!cd 10 London all
night and the selling was said 10 be
tho heaviest on record. Northern Pacific.
Union Pacific. Reading and Stcel were
the heaviest losers. Tho low prices. how
ever. were made during. the FIRST hout
and from that time ON the Improvement
was gradual but steady. ana The close
showed the best rriccs Of the day. IN
the local market lack of action showed
its sold d-out condition. Very lew coppers
already offered for sale, and there were
many orders under the MARKET from pav-
gain hunters No break worthy oi men
tion occurred. and huvinG orders gradu-
ally came in. so that there was a bctter
market than VIC have seen 10; ScNeldi
weeks IL looks a If the rate decision
would be a good thing in the end. ana
thot II will stop the needless extension
I'm the high cost OF living which mas pcon
going on so Iapidly in the past lcw wears.
New York Sm.-Dcmd:aliIatlon is tne
1T word 10 apply TO the stock inaINet
the first hour Around tho noon hour
the market seemed To have cstablisu"d
itself AZ a level little above opening
prices. but the list could not be called
steady It's tone was certainly HcrNous
and fcverlsh. although in the fore part
OF the afternoon the market was fHlleT
dull During the afternoon the railElng
tendency OF stocks became more pro-