Salt Lake Herald | 1908-01-19 | Page 27 | Smelting Was the Drawback

SMELTING WAS biAS THE DRAWBACK I C mons d in Wall Street Fa oraMe orale for an Advance I All Along the Line LineL f L u COAL ROADS CARRY POINT PENALTIES NOT NOT TO BE EN ENFORCED ENFORCED I FORCED AGAINST THEM N w II York rk Jan 18 The stock market counted io on cn In a strong bank statement stat ment to tod tod drs d y although the th return was wa not pub until after the close cIoe of the mar market market market ket a to the rule made perma permanent tent nent last fall faI This expectation was wa the prin sustaining force to prices The most serious obstacle to the advance ment was wa the heavy tone of American I Sm t ng which was heavily sold while ric s elsewhere were advancing Read Bead g S was vas the feature of strength ai at t support was encouraged by the an oun lOtt mint of the agreement of the de of justice to refrain from en enns ns ng penalties against the coal coat car cart t the new law which goes into c f Ut t May 1 pending a judicial decision on Jr iF th Constitutionality of the law This lw 1 forbids railroads to own t tiP c s which w maker make pp p their traffic and nd time with it by May 1 threatened t Er j j i embarrassments to the sh own wn eoal oal mines minesh h I r States Steel Stet l stocks also tre s with notable sympathetic ef f ct on ri owing to the infer e C ewe ice 1 drawn of improving conditions In Inne inne ne t 1 ic Improved collections reported l i tr the tte e houses review and auguries drawn by the develop ment nt f commercial activity were favor favoring favoring ing on the market Rr Rc zing was in progress side by side with th ft new n w buying notably in North fn FJ The gain of upwards of In Ja cash holdings reported by the bank ban Js Is a revelation of the extent to whir i hoarded funds are rushing back nto to tanking Inking deposits The rhe loaning pow power er n 0 tile tae t New York banks is thus ex randd d upwards of Tb Th weeks light loan expansion un une e hf n tK th the circumstances es seems seema moderate to E T F trong rise in foreign exchange wr t today todar with its lon to f possible gold exports Is la not likely T i c i j ise misgivings In the face of this thisE E F OW wing Thi cash cah gain compares fa fat fai i t with the amount of this de deI I sf SC m In fl the week end g Nov 2 last in t lie of the panic when cash hold holdis hold IL is of t r the clearing house banks de sed Ci The gain in surplus I r es of lt just tails short of R aral lual nual record which was made in the theod od d ending May Ma 38 28 8 1904 1901 with a gain of i l SoO Bond were steady stead Total sales par UP Ufo 1 r n States so s registered declined J the coupons and the Ss Is par per cent cento o 0 c ulU during lie week I