Salt Lake Tribune | 1915-08-27 | Page 6 | Strong Tone is Evident during Market Session

STRONG TONE IS EVIDENT DURING MARKET SESSION At Opening Stock Prices Show Over night Gains, Which Are Enlarged During First Fifteen Minutes of Trading By BROADAN WALL By In e at ona hews Sen- ce NL.V ORK Aug 6 Al ough dea ngs were less active In the s ock market today a strong tone prevailed through out the session se era new h gh records being nade B okers reported a good de ma d for securlt es on a recess on and genera expeCtrft on is ha the upward mo ement -wll be cont nued early to morrow At the opening prices showed over ght ga ns of from one to five points These were enlarged during the first flf teen m nutes of trad ng Before the end of the first ha f hour owever profit ak ng resulted In a recess on of about a point from the best in the standard is sues and about two po nts n he war stocks The market backed and ft ed unt 1 the ast hour when under leader ship of Steel quotat one aaln moved forward the close be ng ear the best Copper Shares Improve D stinct in provement in the copper shares was w messed o vlng to sales of he metal by large producers at 18 cents a pound and reports that the Russ ans were In the market for about 20 000 000 pounds of copper Al tre coppers wars an average of two po nts h gher Ana conda be ng the favor e Tennessee Copper w hich has dai y been mak ng new h gh records attrac ed much atten t on by advanc ng more than eleven po nts to the new fa gh gu e of 60 clos lng at the top quotation Nearly ten points of t is ad ance oc curred ti the las fifteen minutes of trad ng The demand for the stock was so urgent at the close tha odd lot houses after the c ose of business on the stock e change paid as h g as 67 for tbe , s ares over the counter Repo t ate th s afternoon was t at the : Tennessee d rectors were cons de njs a bond ssue of between ?2 000 000 and $3 000 000 bear ng 6 per ce to provide work ng capita and refund the $800 000 of first mor gage 6s ch are edeem able at 103 and wh ch fall due ser ally from De ember I 1915 to De en ber 1 191 It was s ated that the new bonds w 1 be con ertib e Into Btock at 125 Earnings Are Favorable Ra road earnings announced yesterday we e favo ab e but the stocks showed 1 tie en hus asm Un on Pacific repo t ed an n rea e Ln g oss of $287 629 and n net of $17 931 for Ju but those fa orable figures fa led to have anv ben eft cla Influence on the stock. Gross earn I lgs reported for the third week of Au gust by other roads also showed expan s on Utt e notice was gl en by traders to the estab shment of another new low reco d b s er ng exchange The pr nc pal features of the Run ely reorgan zation plan were announced and provide for an assessment of $9 a share on the common and of $1 a share on the preferred Those paj ng the assessment w 1 recei e a good security O 1 stocks were strong ow ng to the advan ing prices for o 1 Ca fo n a Petro eum ose to a new high p e for this mo em en Consump on has o ertaken production in he Cal forn a ol bus ness and CaHfo nia Petroleum s now drawing upon s ac cumula on of o Is stored dur ng the recent re-cent depress on foi owing the outbreak of the wa