Salt Lake Tribune | 1914-02-17 | Page 12 | Selling Mainly of Professional Origin

SELLING MAINLY OF PROFESSIONAL ORIGIN Logan & Bryan, Investment brokers at 169 South Main street and members of the New York and Boston stock exchanges ex-changes and tho Chicago board of trade, furnish tho following, received over tholr prlvato wires yesterday: From Logan & Bryan, New York. Sentiment Sen-timent was disturbed by tlio announcement announce-ment to effect that Interstate commerco commission had postponed until Soptem- bor 12 the Inauguration of tho advances in freight rates applied for by the lines operating In tho territory north of the Potomac nnI Ohio rivers and east of the Mississippi river. Judging by tho action of the commission in connection with tho Industrial rallroada othorwlso described as tap linos and tho comments of that body relative to the necessity of tho carriers car-riers receiving the full benefits In the way of charges from traffic now carried before tho question of an actual increase In freight rales is considered, the suspension suspen-sion of tho proposed rate advances is hardly as slgniilcant as many traders apparently ap-parently bollove, If the revenue of the railroads Is Increased In-creased through means other than actual rato Increases, It would scorn that the position of the linos would' bo the same as If old practices were continued and advances in rates permitted. In other words tho railroads will receive practically practic-ally tho same benefits In the. end If ro-cent ro-cent estimates as to tho savings likely to bo effected by a change In the methods meth-ods of pro rating charges arc not grossly exaggerated, though admittedly Industrial corporations Instead of the generality of shippers would havo to bear tho burden. Judging by appearances a goodly portion por-tion of today's selling was of professional profes-sional origin, though of course a fair amount of actual liquidation took place. The decline In Mexican petroleum fostered fos-tered talk to tho effect that the conditions condi-tions tn thn nmiMmrti rrnnlilli nrf lin- coming critical, though nothing authoritatively authori-tatively was forthcoming. The market In much more of a two-sided affair than heretofore, but wo bellevo that rathor fair buying will develop during weak periods pe-riods and that the courso of least resistance re-sistance will continue to lio on tho buying buy-ing side for quite somo time. From Paine. Webber & Co., Boston. There was Just as much interest in tho local market today, but buyers were more cautious and orders were limited below markot prices, which sagged fractionally, but the average showed little change. There was scattered selling of Granby and a few stop orders were caught. Al-louov: Al-louov: was fractionally stronger and Hancock Han-cock and Centennial were unchanged. Confidence Is slowly returning and the next upturn will show a heavier volume of transactions than wo have seen for several years. From the Gallagher curb lottor, New York. Oil stocks were feverish and Inclined In-clined to sell off on light offerings today, Ohio, Now York and California being about the weakest. Tho Tonopahs were featureless, although Jim Butler and Tonopah To-nopah Merger were supplied freely and reacted slightly.