Salt Lake Tribune | 1917-12-30 | Page 49 | Movement of Stocks is Somewhat Mixed

MOVEMENT Of STOCKS 16 SOMEWHAT MIXED' Low-priced Rails in Further Demand, While the ! Standard Shares Lag- Behind. NEW YORK. Dec. 29 The movement of stocks during today's short, but active, session was rather mixed, despite surface sur-face indications f general strensi h. I.ow-prired rails were in furrhcr demand, de-mand, especially the group of western and southwestern issues, h'.le standard shares lagged. Trading in the motors w?in on an extensive ex-tensive scale, with extreme ains of I to i1 points in Slmlebaker. General Motors, Willys-Overland and a few accessories. Equipments and the war division as a whole tended toward higher levels, but l' nlted States Steel fluctuated fractionally fraction-ally over and under yesterday's final quotations, quo-tations, closing virtually unchanged. Gains in specialties were reduced, however, how-ever, heavy selling ensuing on rumors of a Kritish marine disaster. .Sales amounted to 1S-j.0i.j0 shares. Bank state me nt disclosed no important changes in local monetary conditions. Actual Ac-tual loans showed the nomimd decrease of i.61 fi.OOf), and last week's severe drain on reserves was partly made up bv an increase of $3r, 000.000 in that Item. Trade authorities referred to the obscure ob-scure out look in general lines of trade, with increasing conservation on the part of big business interests. Bonds were strong and unusually active on an enlarged inquiry for domestic issues. is-sues. Liberty 4s changed hands at P7.2G to 86.08 and the Stfcs at E'S.-'O to flS.-ii. Total To-tal sales, par value, were .$:;.9S5.000. I'nited States bonds, old issues, were i unchanged during the wc?k, except the 4s. which advanced '.i per cent on call. NEW YORK. Dec. 29. The hnal work of an epochal year In Wall street was attended at-tended by an event o: paramount importance im-portance to investors in securities the assumption by the government of the management of the railroads. The announcement an-nouncement was followed hy a sensational sensation-al rise in the stock market. Transportation experts maintain that until the president unfolds his plan before be-fore congress it is idle to attempt to form more than an abstract idea, of the manifold problems and difficulties involved in-volved in this stupendous proposition. Already it seems to be taken for granted, grant-ed, however, as seen in the recovery of securities, that the proposed guarantees offer a very fair measure of protection to investors and insure, stability of existing exist-ing interest and dividend payments. Those who look beyond the present era profess to see in the programme of the administration inevitable changes in the economic history of this country which until recently received little more than passing attention. In essence, as influential influ-ential in t e rests view the future, the phrase "public ownership" takes on a new significance. Negotiations between the central powers pow-ers and Russia's delegates revived peace rumors, but the att itude of the entente allies, as enunciated hy the British premier and the French foreign minister, j was regarded as more than an offset. I I