Salt Lake Tribune | 1916-12-23 | Page 3 | Stock Market Recovers from Peace Fright

S5T0CK MARKET RECOVERS FROM PEAGE FRIGHT Recoveries of From Five to Ten Points in Better-known Better-known Shares and More in Speculative Class. BARGAIN HUNTERS MUCH IN EVIDENCE Closing Quotations Near Day's Maximums; Enor-mou3 Enor-mou3 Retail Trade Restores Re-stores Confidence. NEW YORK, Dec. 22. Buoyancy marked the stork market today. The fclump of the 'last fortnight, which culminated cul-minated in yesterday's demoralization, fcave way to recoveries of 5 to 10 points in ihe better-known stocks and considerably consider-ably mure in Issues of an ultra speculative L'J.IKS. On today's extreme recoveries numerous shares fully regained yesterday's losses, while a few were at or above final quotations quo-tations of Wednesday. The rebound was effected on a much smaller volume of operationsabout op-erationsabout 1,70,000 shares against the tremendous outpouring of more than StflO.ftfO shares the clay before. The outstanding factor of today's market mar-ket was the better understanding- of the international sit nation based upon reports received from Washington and other renters ren-ters of importance, which helped in great measure to clear the financial atmosphere. Bargains Snapped Up. Another Important fpatnre was the sup-) sup-) ort given by investors who quickly rivalled themselves of the "bargains" of-, of-, fererf at yesterday's decline. Today's recovery brpan at the very op ening, when stocks of all descriptions sh'.Aved gains of .1 to 5 and even S points. Sethaekji uvas:oned by prutit-takinpr occurred oc-curred during the morning, with dullness and some hesitation at nnd-ciay, when the speech from the throne by King George became public. Best prices were recorded in Ihe last hour, when the market strain became active and traiin was broader than at any previous lime of the day. Closing Quotations wore at or near the day's maximums, max-imums, greatest .strength being shown by yesterday's weakest shares. Some of the Gains. T'nlted States Steel gained more than 6 points on its final price of 107U. and contributed almost 25 per cent to the total turnover. Other substantial net gains include: American Beet Sugar, 6 points; American Woolen. 6; American Hide & Leather, preferred. S: Central Leat-her, llRs; American Locomotive, U' Atlantic Gulf & West Indies, 13H. with 7Ji for Mercantile Marine, preferred, and S9g for United Fruit; Baldwin locomotive, 6V2 : Bethlehem Sieel, 2i; Chino Copper, 71. with 5Vi for Anaconda, for Granby and 3 to 5 for other metals; Lackawanna Steel, 7; Crucible Steel, 7; the motors, 3 to 7; petroleums, from .' to 10; New York Airbrake. Republic Iron, 5, and Pittsburg Coaj. 6. Rails made more moderate headway, but advances of 2 to 4 points were general, with 3 to 10 In issues of varied classifications, classifi-cations, including Sears-Roebuck, sugars, tobacco and 14 for Industrial Alcohol. Money ruled at easy rates with indications indica-tions of another cash gain in tomorrow's bank statement. Additional increased dividends div-idends were announced, including the 5 per cent disbursement by the Corn Products Prod-ucts company, and the general situation was fortified by the statements of mercantile mercan-tile agencies representing the largest general-retail trade ever known.