Salt Lake Herald-Republican | 1905-09-10 | Page 17 | Bear Party Put out Short Lines

I BEAR PARTY PUT PUTOUT PUTOUT PUTI I OUT SHORT LINES Confidence of Friday Priday in the Market j Somewhat Impaired CLOSE WAS UNSETTLED SETTLED U REVIEW R OF CONDITIONS FOR FORTHE FORTHE THE WEEK New rew York ork Sept a The restored confidence cont confidence dence d nce over the money market which caused aused the th rally rI in fn stocks yesterday was wass somewhat s Impaired again a ain when trading was resumed today An active bear party put out short lines freely rely In various quarters tern tera of the market market There was some cov cm covering covering ering front from this source after the bank statement appeared but prices price eased off again before the closing as the changes in the various items of ot the tho y bank aik statement were not liked In spite IPie of or the small impairment of the surplus which was wa made to show as a Iet r rut Mit The Time bank statement in fact showed a much easier loss los of cash than the most liberal estimates of the preliminary om The highest of these had run to while the shown hown by Ly the bank Dank statement runs to nearly 11 00 In order to effect rie necessary 1 re ye ducton in the deposit item em t keep ke p pace with wih this heavy loss 1066 of cash and conserve the surplus the clearing house banks Lad hod lad marked down the average of the loan loun item Iem for the week no less than The decline In deposits deposit thus effected O amounts for the week to These changes are far tar In excess of the duc uc tons made in any previous Weel in n the tim history of the clearing house The rite larg Jarg est previous loan reductions for J a week was ww less les than and amid this in the week following he stOK charge change charge panic in May 1801 1901 The hr du th In reserve requirements caused uy I u the cutting down of deposits depois restricted tho the Inroad upon UDon the surplus to t i I r 5 as 38 compared with wih last week week That lem Item Hem now stands at The liquidation In Ute tile stock market has ha been compared with previous periods of ot active liquidation and the fluctuations in inthe II Inthe the money moncy rates have indicated no such urgency as would be caused by bv with cuse wih drwal of ot credits credis as would be supposed The trust companies companie have alone taken takemi over large laree lar e loans during the week week The ho break In foreign exchange has been due tine to the borrowing of at funds in foreign mar It I Is reported that some western institutions have also placed some urge arse loans in New York this week and the time up upward upward upward ward course of New York exchange at Chicago bears bear out this supposition The comparative tranquility of the call poney market is supposed to be due in a large dirge measure to shifting of stock market bor her borrowing borrowing rowing from call cal loans into tin tn loans heads The market closed close unsettled and lar and very dull dul Total otal sates saies sal of tones toads lOD s spar par value 1050 I Review of the Week Prices have moved irregularly during the week and the tono tone of ot the market has hs his been unsettled under the additional lq l dation daton induced by the narrowIng narrowing re resources rf resources sources of the money market The attention of operators tors in stock was wa concentrated on n the tho money mone market con and there wets was no development in any other direction to o account for or the weakness of stocks unless an explanation is i made of or the reactionary tendency in Inthe inthe the copper cooper metal market m after the th pre ire previous upward flight The price pree of re the metal was marked down doun several times and assertions found currency that the great groat production of tile tIe metal was over or overtaking taking consumption and leading leding to some accumulation of stocks The effect effet of f this was aggravated by the sensational fulminations against the market from pro professional quarters in which some prestige iro has been built up by the time success of or pro pre previous attacks The banking situation Ir so EO far is developing along normal lines hues But Dut Buton Duton Buton on the side of the foreign exchange change e great greater er uncertainty exists owing to the ques question tue question tion of ot if the amount of demand for credits which would be made by the newly pc powers The belief that je ye e elef hief lef from an indemnity obligation restrict its Is borrowing facilities nas given way to the supposition that thata a very largo large lar o Russian loan is to be forth forthcoming fort forthcoming coming The continued accumulation of gold at Paris Is the warrant for this sup supposition supposition up position News Mews from Tokio brings the opinion from financial authorities that the government may meet with wih difficulties If It obliged to issue further domestic loans loas which may throw It i again upon the re ro resources 10 sources of ot other money Besides Beides Japanese funds fun s on deposit in New York Yori have been steadily remitted to London whore they may figure in the Bank of England deposits deposit as a reserve against ad aG additional note Issues by br the Bank of or Japan Bonds have hae been affected by b the efforts to degree liquidate than securities stocks but ht in much less les U S advanced 1 the Se 3 and old the 4 and week the new now 45 per pr cent on call cl for forthe forthe forthe Bond Quotations U S ref reglO do 1st inc do coupon 10 M St St L T TU U S rag reg rg M 1 K K T s 10 do coupon 10 do 87 8 U S n a s N R B I B R of M 11 do coupon 13 con 84 U S 83 0 o re IM N Y C stan gen en endo do coupon 3 99 Amer Tob Is c 76 N J C t gen gan do Cs cert 16 N J I Atch gen sen Jen 5 do Se 3 77 do 48 98 N W V con sl Atlantic Coast CoastLine O 0 S 37 UT Line 9 1011 Pen cony 1 B O 0 45 Read gen sen en 4 10 do 95 St L I 1 II 31 lI lIC C of ot G Ss eon con cn 53 11 do 1st inc nc St S1 L L 1 S Sr F 11 do dod 2nd rue uc S Is W J so soC C 0 O 4 IOS 11 St L Sw con conC conC C A W 3 31 82 s C B Q n a Seaboard Air 8 C R 11 I P R It RR Line Lina is 90 R B 48 45 88 83 8 S P S 9 0 do col ol Cs 34 91 S Ren Ball Sa 58 C C C St iT T P Isis Ista lt r 1 L gen 48 10 T St St L L W Yo C C Ter Tel Is s 05 93 9 I 86 C Mid Ie 4 74 U P C S 98 93 do cony Is 10 Cuba Is 55 cert cart 18 U S S d i Os H s 97 I D R It R G 1st US Dia Dis See Sec Se Sa 81 do Deb Del B 71 I Erie prior to tolien West Weak Wet Md Is 4 88 lien len 10 W V L B E iY 91 do gUn gen en 48 91 Di Vis Wis Cent 94 F W A 1 D C Japan Os a second 9 1st 1st 11 11 series serie Hok Val 4 do 4 cert cart 91 Japan s cert 10 do 2nd series 90 L N u Colo Cole Ind Sa a 73 0 Manhattan con can do d b TO SOl gom 4 S P 1st cert 97 7 Mos Hex Cant is s 80 Crt Stock St Quotations Sales Salee Sale High Low Law Lov Close Adams Exp ic G Amah Amai Amal Copper 81 SO S Am C F 5 84 54 K S 36 I Preferred I iso ifO Am Cot Oil 91 11 Preferred t 90 Amu Arnu Exp 9 Am H lI fc c L pfd pM f 36 Ama Ice J I J i iAm 20 Am m Lin QU 17 Preferred Am 2040 49 48 15 Preferred 0 O 13 12 Am S R 9 12 lf 11 Preferred B 1 1 Am Sue Sug Su 1100 9 1311 13 13 13 Am Tob pfd Ann Ana Min Mm Co 2 01 In 10 Atchison Preferred 30 i 80 8 88 8 10 SS S At At C CLine Line m 3 l j 1011 G B Ohio 2500 r 11 U Ul lI S Preferred 97 T I B Rap Tran 70 67 t 60 6 66 g t Cnn Can Cn Pacific 14 1 lofte 11 It C of N J JC SOS C 0 Ohio 68 18 10 C CAlton Alton Alon 3 t 38 Preferred 3 78 C G U Western 21 n 21 30 a C N w V 2 2 i C M 11 SL St St P 62 1 21 11 C CTT T T 17 Preferred 10 MW C C C C St St L 3 oo 1 39 99 9 9 C F r Iron 1500 15 42 i 41 41 l I Colo Cole 3 27 27 2 7 Erst 10 Ot 00 01 Ii J O I 0 40 4 Con Can Gas G C I o IKS Ir Corn vs Jo In I A a I Del Del Hudson Hu son 2111 21 D L W D R I G M U Preferred is Dis Securities t Erie 25 4 t Vs 48 First Firt pfd 82 8 S S 4 si 4 Second pfd ped 1400 78 f 76 Ii G Gen 17 K Hock alley le 89 8 II Ial Central 1509 1505 1 O 1710 l l H Int Paper 10 3 SO S 7 Int Pump 36 20 52 Iowa Central 26 ti Preferred 61 bl blK K C Preferred M S 4 L L L 2800 1 14 15 16 1 L iso ins 1 i ie 4 11 II Met Securities 1000 10 Sli SO 55 S S Met di Ry ty 51 1 li Sl 16 MR Mex Central 2500 f 2 22 2 2 23 j Mina Minn St L 1 71 7 71 7 t t it a Minn Minim St St P PS S Ste Ste M H 1 IX 1 1 1 15 Preferred iw 1 Mo o Pacific 45 1 1 8 WS 1 M Itt 1 K K 1 r T 19 1 1255 34 31 IJ 34 31 s Preferred 9 71 7 71 71 71 Nat Lead Led 41 45 Nat Nati R R nH R of Mex pfd 36 3 N Y Central f 1 N Y 1 O 0 W 1 10 8 5 U i M U s 5 N Western 1700 1100 1 86 85 8 S1 84 S Preferred No Na American 97 1 Hf 01 07 Wi Pacific Mail Mill S 45 44 44 Pennsylvania lo l Vi Peoples les Gas 2100 10 10 1 2 10 1 P C C SL St L 10 SOM SI 81 8 P Steel Car 9 1545 11 42 4 4 43 Preferred Pul Pal Car r 6 Reading Pul 19 1 18 I First pfd 91 Second pfd 9 91 Rep Steel 10 V Preferred Jo 8 83 I 8 S Rock Island Iland Co 1600 1050 IG 32 I 11 l 1 8 n 31 Preferred 3 78 75 o 78 Rubber Goods 31 Preferred Y T i A SL St L S F Preferred J G St L S W m fc M 31 3 23 2 Preferred t 01 J So Pacific 79 q 0 6 I Preferred K I S Si Railway 1 1500 38 Preferred 1 I lW 1 1 If 4 T r 1 C Iron 1800 IS 0 Sl 85 I 86 35 S 9 I Tex re Pacific T SL St St L I W Y a 3 Preferred Union i 3 1 i l 14 Preferred 9 96 U lT S Exp 1 J U S Realty Realy a U V S Rubber 4 45 4 49 10 49 4 Preferred 2 lo 18 16 lO U S Ste Stel Steel l 35 3 35 3 35 Preferred 10 1 11 2 1 K 1 Aa Va Yn Caro Chem Chum 80 38 3 2844 30 3 Preferred IO Wabash 10 20 2 20 2014 2045 Preferred 10 41 41 W F Exp West WesL Vet Electric 16 Western Union 11 i W V L E 17 W Wis Is Central 1200 31 81 31 30 Preferred J 90 d 05 W 50 I Jg 50 No Xo Pacific 40 2 2 Cent Cent Leather 41 ol Preferred 1 1 2500 04 98 9 98 93 93 Total sales for tor the day shares GRAIN AND PROVISIONS j Chicago Sept Sept The market for foe to wheat opened easier casler with wih December a shade off at Dry Dr weather throughout Minnesota and the th th Dakotas was wan the main cause of the slight initial declines As Asa a result resul of ot Improved weather conditions it was claimed that arrival of new wheat at Minneapolis on Monday would show how howan an enormous increase one estimate placing placing placIng ing the receipts receipt at 80 carloads Under the time stimulus of such advices pit traders trader were sellers during the entire entre session Early E rl in the day buyers were comparatively comparatively few Commission houses house later be active purchasers The mar market market ket for a time showed considerable firm firmness firmness ness The principal source of strength lay In in large export business reported at atthe atthe atthe the seaboard The Michigan crop report reportS was S a bearish factor In the reaction The Thc wheat yield of that state Is estimated at 1900 bushels against last year jear The market closed easy cas with wih De Dc December December cember 82 at f S Sentiment In the corn pit pi was bearish as a result of the good weather for the maturing of the crop At the close prices price were at the lowest of ot the day da with wih De December December December cember at 43 A liberal increase in local Ical receipts receipt caused some weakness in the oats mar market market market ket December r closed clo ed at 27 2 a net de decline dechine cline chine of i Provisions were steady on a iIO cent advance In the price of live hogs hoss At Atthe Atthe Atthe the close clos October pork was wa up 5 a cents cent lard Jard was Wa a shade lower and ribs were 7 71 74 to 10 cents cent higher The leading futures future ranged as follows WHEAT No 2 I Open High I Low Loss t Close Cloe Sept SI Dec 8 6 8 2 a 8 May 8 W CORN COmNo No 2 I Open tac I High I Low I Close Sept Sept Dec o 45 45 Dec n 43 8 43 45 May ay 3 43 43 2 I Open I High I Low J I Close Sept 2 26 28 2535 Dec 27 27 I 27 2745 IQ May 20 29 9 29 29 20 MESS PORK Per bbl I Open I High I Low I Close Sept I 1500 Oct 1470 1475 fl 1460 1400 1476 1478 Jan 1237 1242 1236 1235 1235 1225 LARD Per Ibs J I Open I High I Low I Close Chose Sept Oct 70 Nov No 1 i 50 SO ro Jan 67 SHORT RIBS Per Ibs I Open t I High I Low I Close Sept sep SiT rj 1865 I 1155 Oct 81 Jan 6 64 I I Cash quotations were wera as follows Flour Firm Western patents straights spring patients straights bakers 98 Wheat No 3 spring No 2 red a Corn No 1 I 53 53 No 2 11 yellow 51 Si 51 Oats Oa sNo No 2 2 27 No 2 white No o 3 white Re R eNo No 2 2 62 02 Barley Barle Good feeding 70 71 fair to choice malting 4 80 Flax Seed No 1 No 1 northwest northwestern t tern ern em Lii Mess ess Pork Per ban bartel el O Lard Per pounds Short Ribs Sides loose ro Sides Short clear boxed bo o Whisky Basis of ot high wines I Clover Contract grade 1100 Rec Rea j I Ship Flour bushels fL 1100 Wheat bushels 43 ail y toj W Corn bushels j Oats bushels Rye Re bushels II 1000 Barley Baric bushels j 1000 LIVESTOCK MARKETS Chicago Sept 0 Cattle Receipts 1100 market steady Beeves Reeves 38 good to prime steers poor to medium cows 1 J 50 O heifers 2100 Hogs Receipts 5 to 10 cents er Mixed and butchers good i ito to choice heavy hea 5 OO 95 rough heavy hean i light 54 90 bulk of ot sales sates I pigs 50 Sheen Receipts 1000 2000 market steady stead Western sheep native western lambs Kansas I City Cit Sept 9 unchanged Native steers southern steers 37 ri r native cows and heifers LT stockers and feeders io v calves western steers western cows Hogs Receipts steady Bulk 6 50 heavy 40 packers pigs piga and nd light I Sheep Receipts mostly feeders I market nominally steady Muttons 46 f range wether 47 I t It South Omaha Sept 9 Cattle Receipts roo market unchanged Native steers X 7 cows and heifers halters west western western ern era steers ste G T as s 40 cows cons canners 1 I rs find gri 33 Continued on Page 7 I BEAR PARTY PUT PUTOUT I OUT SHORT LI LINES IS 4 k i Continued Continued from Page 6 j calves cales buns bUllS stags etc ett Hogs Receipts market steady Heavy Hemy 8 5 0 45 mixed t light t jOgs jigs bulk of sales Sheep Receipts 1000 market steady dy Westerns 4 OO ewes 42 75 lambs Money SlIver Silver Etc New Nev York Sopt Sept 9 Money on call nom norn nominal nominal inal no loans Time loans lonus firm 00 i days da s JEi per ner tent cent 90 SO days dys six months 4 Prime mercantile paper 4 44 1 Sterling exchange steady with actual business in bankers bills at it 4 for demand and at for tor GO 60 days das posted po ted rates and 4 CV 87 commercial bills iS Bar sliver silver H Mexican dollars 47 11 t S Government bonds steady railroad bonds bon m Irregular The Bank Statement Now No York Sept 9 The statement or of averages of the clearing house hous banks fur for r this city for the six sis weeks this week 61 decrease JO Deposits l Decrease Ul 11 Circulations De Legal Logal tenders derr se JJ i Specie i S SiO Reserve ISi d 1 J Reserve t AJ lIra c cl 10 l Surplus eft f Ex U S SD t I The fays cays Thin The features l m th ti Iti statement of f tho the ev eo Yort banks banka were war the surprisingly large contraction contraction contraction tion In loans a B loss JOSi or cash much In ex ox excess excess cess coss of or th estimates a 8 heavy reduction in n deposits resulting from the loss of cash thc tt conn action in loans and amul a de Ie decrease crease in the surplus reserve to figures fi below the time minimum of or the year your The loan contraction of was vas principally due duo to the liquidation of speculative ac accounts accounts a counts on the stock exchange during the week and also to operations of trust com corn companies companies which took advantage of or the firm rates for money on call directly to loan balances which were withdrawn from banks for tor that purpose the withdrawal of such balances made necessary cancel cancellations cancellations lations of loans by banks The cash re reserve reserve serve was reduced by or nearly nearl two and a 8 quarter millions greater than the largest estimate of loss which was based upon the tho traceable movements or oC money mone during the week possibly this ex ox excuse excuse cuse cuso may have been caused by bc the bring ing