Salt Lake Tribune | 1905-05-23 | Page 7 | Stock Market Letters

Stock Market Letters. Marshall, Spader & Co.. New York, say. "Support was given Union Pacific nnd the Steel shares Just after the opening, but there sirmcd to Da stocks for sale, and steady pressure, pres-sure, was brought to bear and continued well 1 into tho noon hour. Thero was not much news, foreign or domestic T. A. Mclntyro & Co . Vow "Wk. sa . ' This was another big day In the stock market mar-ket and thero was a continuation of Ihs ng-gresslvo ng-gresslvo bear attacks from Boston and tho new street bear crowd. Commission houses ha'l liquidated so well bofors the closo of the market on Saturday that there was not much pressure from this source one of tho noteworthy note-worthy features In this depression Is tho ab-seiicc ab-seiicc of any substantial or tangible reasons to occount for such demoralisation as tho quotations would apcar to Indlcnto. Tho bear crowds have simply taken ad-njitago of these rondltlons to work upon tho sentiment of iho generality of operators, and we bsllSVS tho market will become heavily oversold on this break. ' Dick Bros. New York, sny. Market showed strength f"i a tints, but big selling was resumed and tho list broke sharpl. Tho Lawson attack had more or less Influence, but rumors of Impending bad news were more effective. ' There was a rally at tho closing which amountod to a point on the more active stocks." . .. lxigan & Bryan. Now York. nv Influenced Influ-enced bv higher London price-., tie- New York list opened strong. Bear pressure was early r. um -'l. however, forcing liquidation all thp.ur.h tho list Tho feeling I) thut Bostons Independent operator Is, nnd has been for some time. CO -OPS rating with n tittong bear cllquo In New York A renewal Of aggresslvo tao-tlcs tao-tlcs by tho bears will undoubtedly bring some lower prices, which, followed by Short covering, cover-ing, should cuuso a rensonublo rally On any rally we believe stocks should bo sold "