Salt Lake Tribune | 1917-11-20 | Page 10 | Sudden Change for Better in the Wall Street Market

SUDDEN CHANGE FOR BETTER i IN THE WALL STREET MARKET Outburst of Activity in the Final Dealings; Hint of Favorable Railroad News. , ' ! H. i . NETr TOflK, Nov. ID. A sudden and, inexplicable change for tiie better came j over the stook , ntarket toward the end of today's trading after more than f'uir nurs of listlessnosK and Irregular price changes. Kinal dea lines were eharnder-izel eharnder-izel y an outburst of activity In which leadin- shares v.-ere carried 'J lo i points ovr lowest levels of tiie day. There were no known development? to account for the movement, but the character char-acter of tlie tmyine, which naturally included in-cluded considerable, short covering, suggested sug-gested early and fa vorablo news in tlie railroad rate situation. l.'n ion Pacific featured the rail? and t'nlted States Steel the industrials, the former jumping by half-point i:ains from H-i to 1 1 6 1 i . Steel was taken in larse lots at a steady vise from 92-i to 9 0 1 , cloiiins at its best, a net gain of o V-i points. The turnover in the last thirty minutes aggregated almost '; per cent of the day's total. Between U and 2 o'clock dealinea , barely rearhed VhVOOO shares, t-e three , periods heir ir marked by the most ecm-j ecm-j pletc fUgmvtion of tiie ear. In tiie morning and liurin?' the inier- j I inediiue Eesion the only noteworthy f f-a - j 1 lures were ot a riepros-sine or nes-itive ni'iure, T'elaware Hudson diopped P.i ; points to S7. its m!rii:rju'i-i of irnny yc.irs. j Pennsylvania"? fntctionfcl recesf-ion to 461 ! represented th- Inwrst u.uo'.aiion for tii:4i -s'.ooiv in over a generation. Itnlian ex- , chance record o3 a further collapse and j Linerty 4s fell to a discount of 3 per . cent. These adverse conditions were largely I relieved In the rally at the close, a! - j though the bond market shared only j s'ightly in the improvement manifested j elsewhere, Sales amounted 10 420.000 shares. Libert v 4 varied from 9s. 24 to 97. closing clos-ing at 97.50. The 3vjS ranged from 99. SO to 99.02, , closing at 99.20. Total bond J sales, par value, aggregated $4.325.U"t'. j l'nited States bonds, old issues, were in- 1 cliang(-d on call.