Salt Lake Tribune | 1915-11-14 | Page 19 | Financial Review

j FINANCIAL REVIEW. I NEW TORK. Nov. 13. Surface condl-'rtlons condl-'rtlons indicated a fair decree of strength In the iron and steel trade for the greater part of the week, but occasionally the undertone un-dertone suggested heaviness, or at least J Irregularity. This uncertain tendencv ap-I ap-I plied more especially to Investment sitocks I in -which considerable foreign selling was I encountered. Europe's further llnuldation mav have been urgent or may have arisen from the course of foreign exchange, which favored such operations. What the railways lacked In stability was neutralized by the renewed strength nf various Industrials and coppers. United States Steel at 88. duplicated its highest price of recent years and Anaconda Cop-ner Cop-ner at made a new renrd. Higher prices for copper, lead and by-products testified to the very' satisfactory state of those industries. The midweek recession In war shares, some of which decllend violently, opened tile way to further discussion on intrinsic values, but itheir quick rebound pointed rather conclusively to the over-extension of speculative accounts. General business conditions show variable varia-ble betterment, but trade as a whole is being governed bv seasonal changes. Bank clearings ate piling up and reserve centers cen-ters reported steady gains in deposits. As yet the mercantile demand for money is moderate. Exports are assuming such tremendous volume as to cause a revision of al recent "trade balance" estimates. Foreign affairs af-fairs seem to exert no very direct market influence save in so far as they leave their Impression upon the vexed question of Internaitlonal credits.