Salt Lake Tribune | 1910-07-31 | Page 11 | Uncertain Tone in Stock Market

UNCERTAIN TONE IN STflMMET General Impression Is One of Weakness at Close of the Week. TENDENCY LARGELY DUE TO SATISFIED DEMAND Financial Holiday in London Cuts New York Off From One Source of Stimulus. By Associated Press. NEW YORK, "July 30. Tho reactionary tendency from the rebound which developed devel-oped In yesterday's stock market became more pronounced today under tho play of the same forces of profit-taking on the rise and satisfied demand of the reduced short Interest. The Pearson syndicate settlement also lost some of its Influence on spoculntlvo sentiment. A fresh break in Sloss Sheffield Steel to a lower price than yesterday renewed the feeling of apprehension over the integrity of Its dividend. The violent fluctuations In the July wheat market wore supposed to Involve In-volve some protective liquidation In stocks. The closing of the London stock exchange ex-change for today and Monday deprived the New York market of ohe source of Its recent strength. Large shipments of securities bought for London account during the week are going forward by steamers sailing today. It Js helloved the syndicate's .settlement with the foreign for-eign participants is an added influence on this movement. The effect Is shown in tho downward course of the foreign exchange rate, which points to a continuance continu-ance of the Import movement of gold. A reduction of 9230 cars In tho Idle surplus for two weeks ending July 20, reported by the American Railway association, asso-ciation, was a favorable development of the day, Tho agreement by the cotton shipping railroads upon a plan for validation of bills of lading for cotton shipments is believed be-lieved to meet the requirements of foreign for-eign bankers foe tho advancement of funds on such bills to finance the cotton movement. The bank statement showed that relief from the week's liquidation has come to the trust companies and banks outsldo tho clearing house, whoso average loans contracted $21,104,100, while tho actual I loan Item of the clearing houso banks expanded $20,35S,S00. While tho deposits were Increased over $29,000,000 by tho combination of the loan increase and tho cash gain, the latter Item, which amounted amount-ed to $8,457,000, was sufficient to widen tho margin of the surplus to tho extent of $1,207,300. bringing It up to $47,226,-900, $47,226,-900, a very unusual figure for this season sea-son of the year. Bonds were Irregular. Total sales, par value. $694,000. United States bonds aro unchanged on call from last week. New York Bonds. U S rcf 2s reg. ..1003 Inter Met 41s... 781 do coupon ...100i( Inter M M 41s.. 60 U S 3s reg 1011 Japan 4s S9g do coupon ...1011 do 41s 95 U S 4s reg 1143 K C So 1st 3s... 72 do coupon ...1141 L Sh deb Is 1931 92! AUJs-Ch 1st 5s.. 743 L & N un 4s... 97 Amcr Agrl 5s.. 100a M, K .t T 1st 4s 971 Am T is T cv 4s 99jJ do gen 43s ... SI Amcr Tobac 4s. 7S1 Mo Paclf 4s ... 70 do 6s 105 NRR of Mx 4is. 931 Armour & Co 41 91 N Y Ccn gen 31s S7R Atch gen is ... 98 do deb 4s 933 do cv 4s 104 NY.NH & H 6s. 1311 do cv 5s 100B N &. W 1 c is... 97 Atlan CLI 4s. 93 do cv 4s 9G1 B & O 4s OS Nor Paclf 4s.... 995 do 3!s 90 do 3s 69 do SW 31s ... S9 O S L rfdg 4s... 91! Brook Tt cv 4s.. S13 Ponn cv 31s 1915 95.1 Cent of Ga 5s.. 1013 (Vo con 4s 102 Cent Loath 5s.. 971 Read gen 4s 97! CRR of NJ g Ss.121 StL & SF fg 4s. 79 C & O 41s 100 do gen 5s SI! do ref 5s S9 St Lou Sw c 4s. 73 C ,fc A 3!s 70 do 1st gold 4s. S8 C B & Q t 4s.. 95 Seab A L 4s 72 do gen 4s 9S So Paclf c 4s... 89 C M & StP g 31s 91J do cv 4s 9G1 CRI i: PRR c 4s 71! do 1st rcf 4s. 933 do rfdg Is ... 871 South Ry 5s.... 104 Colo Indus 5s... 77 do gen 4s .... 75 Colo Mid 4s 60 U P 4s 100.1 C&Sr&o 41s. 90 do cv 4s 103j D & II cv 4s 97 do 1 and r 4a. 951 D i) R G 4s 923 U S Rub Cs 102 do rof os 90J U S Stool 2d 5S.103J Distillers 5s ... 04 J VI rg C C us 9S1 Erie pr Hen Is. S0j Wabash 1st 5s. 107 do gen 4s OS do 1 and ex 4s 01? do cv Is scr A. 06 West Md 4s. ... R2i do cv 4s set- B. 60 West Elec cv 5s SO Gen Elec cv 5s. 133 Wlscon Cen Is. 91 111. Cen 1 r is.. 90J Mo Paclf 5s ... 92 St, Louis Wool. By Associated Press. ST. LOUIS, July 30. Wool, higher. Medium grades, combing and clothing. 23 ?2 lie: light fine, 19f7)21c: heavy fine, lo 17c, tub washed, 25g12e.