Salt Lake Tribune | 1916-12-12 | Page 17 | General List Depressed by Professional Element

GENERAL LIST DEPRESSED BY PROFESSIONAL ELEMENT Trading Governed Largely by the Course of Foreign For-eign Affairs and Late Rise in Call Money to 10 Per Cent. I ' NEW YORK. Dec. 11 Trading in today's to-day's market was governed by the course of foreign affairs and a late rise in call I money to 10 per cent, the professional 1 element utilizing; these developments to depress the general lis:, j In point of fact, the 10 per cent money j rate was more or less artificial, most loans " iein ren-weri at half that rate, or lower. I Some public liquidation occurred as a re-, re-, suit of the political conditions in England i and France, and apprehension was heicrht-! heicrht-! ened by further declines in Anglo-French 5s and City of Paris 6s to new low records. rec-ords. Incidentally. Austrian exchange registered a new minimum with further unseUlement in marks. Early Prices High. Karly prices were mostly above last week's final quota! ions, tiie favorable bank statement and the United States Sieel November tonnage report hems viewed as bullish factors. The list reversed re-versed its course before the end of the first hour, however, with lowest prices toward to-ward the feverish close. Leading shares showed net declines of 1 to 3 points, with a loss of 1 Si points for Bethlehem Steel on a single transaction. Pressure was most pronounced in the Coffee Futures. NEW YORK. Dec. 11. The market for coffee futures was easier today under scattering liquidation, which seemed to come largely from cotton trade sources and was most active in connection with the near months. The market opened at a decline o. 1 point to an advance of 3 points, with the late months relatively steady on buying buy-ing bv near-month sellers, but the whole list eased off during the afternoon, with March selling at S.13e and July at S.44c. The close was 1 to 6 points net lower. Sales, 53,750 bacs. December, 7.87c; January, 7.96c; February. Feb-ruary. 8.05c: March. 8.15c; April. S.22c; Mav", S.30c; June. 8.37c; July, S.4rc; Au-X copper group, prominent equipments and munitions, shipping shares and rails, investment in-vestment issues in tiie latter group yielding yield-ing 1 to 2 points on moderate offerings. I'nited States Steel held steady for a time, but fell more t ha n a point on the more extensive selling of the latter dealings. deal-ings. Ajax Rubber Rises. Among the few noteworthy exceptions to the lower trend were Ajax Rubber, which rose oyer 4 points to the new high record of SIM'S, and Central Leather, the tatter, however, forfeiting much of its 34 ad-vance. ad-vance. Ohio Gas was the only utility to display marked strength at a gross gain of f, points. Total sales of stocks, 1,025,-000 1,025,-000 shares. Sentimentally, at least, today's market was affected by the further break in commodities, com-modities, especially cotton, and advices from the west, where the agitation resulting re-sulting from the increased cost of necessaries neces-saries has caused speculative interest to modify their commitments. Domestic bond issues were irregular on diminished dealings. Total sales, par value, S3.S40.000. I'nited States bonds were unchanged on call. gust, S.52c; September, 8.59c; October, S.tioe; November. 8.71c. Spot, dull; Rio 7s, 9c; Santos 4s, lft (.-. Firm offers in the cost and freight market were about unchanged, ranging down to 10 Hp for Santos 'is and 9c for Santos 4s, London credits. The official cables reported a partial decline of 50 reis in Santos futures, with a holiday in Rio and no spot quotations from Santos. Santos cleared 63,000 bags for New York and 35,000 bags for New Orleans.