The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-02-19
Situation in Wall Street CIari-
fled by Passing of Missouri
Pacific Control.
STOCK MARKET AHEAD
OF GENERAL BUSINESS
Steel Shows Greatest Improve
ment in Week i'm Indus
trial Lines.
BY RALPH EMERSON.
eased Wire to The Tribune.

by Leased wire to The Tribune.
NEW YORK, Feb. 1S.-The tone Of
the stock market during tho week was
not reflected on the general business
conditions of the country. which con-
tinued with an upward tendency that
has been In evidence since tho first Of
the year. The course of the stock mar
ket was not illogical. The market in
its recent upward trend had kept pace
with, If 1t has not gone ahead of. trade
improvement and the various specula-
tive. interests behind the movement
availed themselves OF n temporary broad
"hlns OF operations TO nquidate, The
passing OF the control OF the Missouri
Pacific TO two OF the most important
financial interests without any contest
greatly clarified the situation. This
however, did not come soon enough to
natural reaction.
Railway Bonds in Demand.
In contrast 10 the reactonary spirit in
The stock market was very good in
Vestmcnt sentiment regarding new rail-
way bonds and notes. OF which there
were authorizations during the week OF
about 500 900. PART OF these already
nave met with prompt absorption and
IL Is understood that negotiations for
the balance have been completed or are
I'm very fair way of being accomplished
I'm the near future. Europe participated
In some OF the weeks absorption and
part In issues yet 10 he placed.
Probably the greatest Improvement
during the week along Industrial lines
was In iron and steel The Increase OF
lit per cent hi the output OF the blast
furnaces OF the United States Steel COR
Poration from the low point OF the year
is certainly a remarkable improvement.
and this has been followed by a material
increase in the working capacity Of all
steel mills in the matter of finished
products.
-l,..
outlined In the January statistics OF the
government, continues on n highly IA
yorahle basis. and this. In Itself. Is one
general situation. Aside from purely
affairs, the noted reduction in
the cost of living, through a decline in
OF food. Will have the effect in inn
proving the condition of the laborIng
people.
Reciprocity Cuts Some Figure.
This week the fall In prices OF wheat
and flour attracted wide attention. espe-
has taken place from the high point
year ago. The Canadian Pacific recl-
proclty movement has eXerted sentl-
mental influence, but n still greater cf-
feet has been produced on the com
modify markets by the rains OF the week
over wide eXpansc Of territory in the
southwest The prospects OF winter
wheat have been materially improved by
these rains. which means that The farm
ing community is preparing for the
planting and cultivation OF large crops
during the season i'm the southwest
1t is a distinctly auspicious crcum-
stance that we seem 10 be lending
rather respectable aggregate OF money
abroad just now although the negotia-
tions for the sale OF some OF our new
securities in Europe Is curious counter
operation. That we are lenders TO Lon
don and Berlin particularly results in
great part doubtless from tho marked
In our foreign trade since
last August. Through funding a good
deal Of our floating Indebtedness TO Eu-
rope by the sale Of our securities to
creditors, and through the cx-
cess OF our commodity and merchandise
exports over our imports in recent
months. IL might not be a bad guess that
on balance we arc temporarily intcrna-