Salt Lake Tribune | 1917-11-20 | Page 10 | Market Develops Firmness of Tone

MARKET DEVELOPS RiWBIK OF TDK J A. 1 logic A- Co.. 1W South Main street furui.sh the following digest or financial news, received over their pn- : vale v. ires; .. . . . 1 Nw York Financial News Btnlet:n. Luring the grnwrer pari of tne seyiOn dnllnoFS prevailed, but tlie tone o. t.ie market whs strongly indicative of under-Iving under-Iving firmness. In the UsL hour brisk buying move Lien t developed, and, as siocks were s.ant in supply, prices advanced ad-vanced rapldlv and in most departments substantial grains were recorded. Tee appeal ap-peal of the carriers and the logical facts advanced for immediate much-needed re-! re-! lief have undoubtedly made a marked impression im-pression on Lie deciding body In "Washington, "Wash-ington, and confidence In a favorable verdict ver-dict is growing daily. I Along with the prospects of a fair-I fair-I sized increase In freight rates is the an- tl ipation that the government may extend ex-tend credit to the railway, inasmuch as the carriers, if recent developments are any guide, aro unable to compete with the government for funds to promote greater activity on their part in bolstering bolster-ing up the efficiency of transportation. It is not illogical to assume that the ad mil lustration, in an effort to stabilize the general situation, would endeavor, and which would have the desired effect, ef-fect, to lean more kindly toward the carriers. car-riers. The technical foundation of the market is, as wo have pointed out, firmer than for some time past, and the rather well-liquidated staie makes the market sensitive to developments or hints or constructive con-structive disclosures. New York Curb Stock Letter; The tone on the curb was strong during the greater great-er part of tho day, with a general increase in-crease in demand noted in all the trading groups. Submarine, which had been without 5imnit-t wms active nnrl nrlvamwl from 13 to 14. and Aetna Explosives rose from GTi to 7V. -Wright-Martin was firm, with sales at 7. Cities Service sold at 1P6. The accumulation of Triangle Film continued to attract attention. This buying buy-ing eoon took the stock up to 1, and it was stated that the buying will be followed fol-lowed by important announcements very soon giving ra tes of new contracts find the entrance of nqw interests into the directorate, di-rectorate, el rengthennlng its financial position and giving it control of a broader distributing field. Mining stocks were in better demand than has been noted for some time jase. Emma Consolidated was traded in at and with reports from the mine again of a favorable character. Nixon Nevada was a strong feature and sold at S3 to f'o cents. Mason Vallev sold at 4f. United Verde. ?,2'2 at 32-14, and Butte Copper & Zinc at 6 and 6V,. Oil stocks were more active. Midwest sold at 10.9 to 117, Merritt at 22'i to 2, and Houston Hous-ton at -JO to 204. Chevrolet ranged from d'2 to 55. I