Salt Lake Tribune | 1917-10-31 | Page 13 | War Developments Exert Bad Influence on Stocks

WAR kVELOPfltNTS EXERT BAD INFLUENCE ON STOCKS Canadian Pacific Is Storm Center of Movements Which Result in General Depression of Prices All Along Line. NEW YORK, Oct. 30. External developments devel-opments were again the disturbing and uncertain influences in the stock market here today. latest advices showing the extent of i he Italian defeat were supplemented by the restrictive measures adopted by the Canadin n sto-k exchanges, appointment of a new German chancellor and publication publica-tion of several unfavorable statements of earnings, notably that of the Canadian Pacific road, which disclosed a net decrease de-crease of almost $1,-100, OuO for September. Sep-tember. Canadian Pacific was the storm center, fulling ti points to 132"'8 during the morning morn-ing on the temporary suspension of operations op-erations in the Montreal market. From this minimum the stock rallied to 1354. closing a point under that ((notation at a net loss of 4 points. Other rails, especially es-pecially transcontinental and the western west-ern division, yielded I to 2 points. f Tnited States Steel moved with the ; active list, ranging from 1013i to 1 0.Ti . its final quotation of l'l? representing a net loss of - of a point. Other steels rei-crried extreme reactions of 'J to bz points. Among the prominent copper groups recessions re-cessions extended from 2 to 6 points and in t he case of New York Airbrake a 12-point 12-point decline was largely made up. Kinal prices were from fractions to 2 points over lowest levels. Sales amounted to SSO.nno shares. The quarterly statement of the United States Steel corporation, disclosing a decrease de-crease of about S22.0iXi.000 In total earn-incs earn-incs from the preceding quarter and the retention of the 3 per cent extrn dividend divi-dend on the common shares, did not is- sue until after the market's close. Bonds were heaw, liberty 4s ruling at par to loo. 02 and the 34s at 9.f4 to Total sales, par value, aggregated ' United States bonds, old issues, were ! unchanged on call. i