Salt Lake Herald | 1907-07-14 | Page 29 | Stock Market Trifle Better

STOCK MARKET TRIFLE Activity and Strength Devel Developed Developed Confined to Comparatively Comparatively Few Securities CLOSING WITH GAINS HELD BANK STATEMENT REGARDED AS FAVORABLE New York July rectification of last weeks discrepancy In the c cash h Item of at the bank statement conduced to tho favorable showing or of the clearing house Institutions today and explained the small maII effect of at the weeks withdrawals at o gov government government deposits from the banks on top of a seeming exhaustion of surplus re reserves reserves serves The cash gained reported tad today a aby by the banks of compares with an apparent loss on the known Imports of at money ot of upward ot of Last weeks statement contrariwise reported a loss of at cash where a gain of had occurred according to the known move movements meats ments of at money The explanation probably probably ably Is that corporations transferred de deposits deposIts posits from banks to the security corn com panics on very large scale to effect the July statements after which these cash holdIngs have been transferred back to the banks The heavy loan contraction of 13 ascribed partly to stock market liquIdation dation but change In security holdings In with the release effected by tl tie e surrender of government deposits may fIgure also In this Item Au An expectation r some ome such an anomaly In the bank statement was a factor jn In keeping up prices In the dull market The activity and aud strength was confined to comparatively comparatively few stocks Union Pacific was the conspicuous leader ot of the tho market The publication or of the findings of the theA A commerce commission on the j I Inquiry was an Influence on ons p s stock The belief was entertained that the contents or of the report which might be adverse to the Harriman proper properties properties ties have been so explicitly recognized that their effect has been felt already In the stock market The Hilt Hill stocks were af affected affected by talk of a maturing plan for tor forthe the transfer of the Northern equity In the Burlington to the Great Northern The closing was strong with the gains held Total sales of bonds par alue