The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-24
HOLIDAY SPIRIT IN
THE STOCK MARKET
Very General Curtailrnent of
Financial and Speculative
Operations Results.
OUTLOOK IS EXCELLENT
Advance in Copper and De
mand for Steel Indicate Re
vival of Trade.
BY RALPH EMERSON.

BY Leased Wire to The Tribune.
NEW YORK, Dec. IA holiday spirit
permeated the financial situation this
week There was, accordingly, a very
general curtailmcnt OF financial and
speculative operations,
The daily average stock sales fell off
5000 shares below those OF last week,
which was Il natural sequence OF the
extra holiday voted BY the stock eN-
change governors, Last week the mar
ket had flood of favorable and sttnu-
lating influences. This week It had
some depressing ones, hence there were
periods OF reaction which, however.
might have come under ordinary condi-
tlons, as prices had experienced q good
The first blow that Wall street re-
ceived was the Wabash receivership.
This apparently had been inevitable FOR
expected. and the suddenucss with which
It was prccipitated made II effective as
a market factor. Shares OF other Gould
roads finally fell into limo and dropped
away two To five points, Tho effect
OF this. however. was only temporary,
as IL is thoroughly we'll understood that
conditions appcrtainine 10 Could proper
ties arc not representative OF those e&-
listing in other railroad systems.
Other events that initiated at inter-
walls against stock speculation were the
dcclars ton OF only regular dividends BY
tho Lehigh Valley and the Louisville *
Nashville whereas something extra was
expected and the final government re-
port on the grain crops which showed
els Of corn from the November estimate
and o9i. 900 600 from the final yield OF
1910.
There was no such actual deteriora
ton in the crops from November to De-
, cember and the loss was due TO re-
duc'ion Of the acreage.
Notwithstanding these drawbacks the
stock market showed considerable re-
liz, 1nSa nf
week Lehigh Valley had made new
high record for the year, while Union
Pacific. steel and the copper shares
sold at the highest figures OF tho
cradle measure 10 n feeling OF cp-
timism as to the future Of the Iron ano
steel and copper industries. The slee
| manufacturers have. at last obtained 2
good control of prices and this weel
| some further advances we're made, al
| though they were not - numerous MOI
as important as those Of last week.
The outlook for the large railroad!
| with the turn or the year Is excellent
and instead Of the usual shut-downs Over
| the holidays idle furnaces are being
| blown into blast. and some steel mills
not working In tho recent past are be
| Ing started up. The additional rise ir
| copper metal To ia OH large business
was regarded as one OF the most I'm
portant incidents pointing 10 industrial
Next week the worlds markets ma!
| experience crucial test. II was only
| a short time since that much apprehen
sion prevailed as To the tension tina
was likely to matcrialZe over the year
| end settlements. particularly In Europe
This feeling however. is passing away
| The volume Of business in the grea
Industries of the country was naturally
affected In the past by the approaching
holidays.
But ono point should be carefully re
Imcmbcred because ii emphasizes some
thing which Is likely TO he operative !,
| many Industries for some time 10 come
| Profits are small and concessions ar,
being made TO secure business. This Il
a truth OF broad application, and. eco
| Inomiraly. il * source Of public con
graduation. Wealth is being created
whether the manufactures makes larG'
profit or not.
The stock exchange and all the com
| mercial and grain exchanges were CLOSED
| today for an extra Christmas holiday.
| The banks here remained OPEN but th'
business done was purely nominal.
| The markets at Paris and Berlin wcr'
open. but little business was done.
| At Berlin the money ratio declined
| psT cent.